The Impact of culture on the demand for non-life insurance

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<dc:creator>Park, Sojung Carol</dc:creator>
<dc:date>2012-11-05</dc:date>
<dc:description xml:lang="es">Sumario: Regression techniques are applied to an unbalanced panel data that includes 68 countries observed over a ten-year period, to explore the factors that affect non-life insurance demand across nations. While previous literature has discovered several significant economic, demographic, and institutional variables, little attention has been devoted to cultural dimensions. We find that non-life insurance consumption is adversely impacted in countries where a large fraction of the population has Islamic beliefs. Also highly significant are three of the cultural scores developed by Hofstede in a celebrated study: Power Distance, Individualism, and Uncertainty Avoidance. An important finding is that culture impacts non-life insurance more in affluent countries, with an adjusted R-square coefficient increasing by 11.7%, than in developing countries where the R-square coefficient increase due to cultural impacts is only 1.2%. These results have implications for multinational insurers seeking to enter a new market. Ceteris Paribus, these insurers should target countries, and population segments within these countries, that exhibit low Power Distance, and high Individualism and Uncertainty Avoidance scores.</dc:description>
<dc:identifier>https://documentacion.fundacionmapfre.org/documentacion/publico/es/bib/141735.do</dc:identifier>
<dc:language>spa</dc:language>
<dc:rights xml:lang="es">InC - http://rightsstatements.org/vocab/InC/1.0/</dc:rights>
<dc:subject xml:lang="es">Seguros no vida</dc:subject>
<dc:subject xml:lang="es">Cultura</dc:subject>
<dc:subject xml:lang="es">Países desarrollados</dc:subject>
<dc:subject xml:lang="es">Países en desarrollo</dc:subject>
<dc:subject xml:lang="es">Empresas de seguros</dc:subject>
<dc:subject xml:lang="es">Perspectivas del seguro</dc:subject>
<dc:subject xml:lang="es">Estudios estadísticos</dc:subject>
<dc:subject xml:lang="es">Análisis socioeconómico</dc:subject>
<dc:subject xml:lang="es">Multinacionales</dc:subject>
<dc:type xml:lang="es">Artículos y capítulos</dc:type>
<dc:title xml:lang="es"> The Impact of culture on the demand for non-life insurance</dc:title>
<dc:relation xml:lang="es">En: Astin bulletin. - Belgium : ASTIN and AFIR Sections of the International Actuarial Association = ISSN 0515-0361. - 05/11/2012 Volumen 42 Número 2  - noviembre 2012 , p. 501-528</dc:relation>
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