4701 
5940即时纠正措施是资本充足率监管体系中的预防性审慎监管措施。然而，从避免公众恐慌、稳定市场的角度考虑，监管机构可能暂时不会对偿付能力不足的保险公司采取强制干预措施，存在某种程度上的监管宽容。文章以我国财产保险公司2009−2016年的面板数据为样本，分析财产保险市场是否存在监管宽容，以及监管宽容对公司风险的影响。研究发现，监管压力会让偿付能力较弱的公司被动补充资本，但不及时，即监管宽容部分存在；偿付能力较弱的公司，承保风险显著高于偿付能力充足的公司，但总体风险和投资风险没有显著低于偿付能力充足的公司；落入监管宽容区间的公司会比其他公司更加显著地激进承保，并降低风险资产投资比例，及过度依赖负债驱动型经营模式。研究结果表明，监管宽容的存在有助于防止财产保险公司一发生问题即陷入经营困境，有助于偿付能力监管体系的实施，从而维护保险行业的系统稳健性，适合我国现实国情。
监管压力、监管宽容与财险公司风险承担
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赵桂芹, 仲赛末. 监管压力、监管宽容与财险公司风险承担[J]. 财经研究, 2019, 45(7): 112-124.
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