Determinants of Takāful and conventional insurance demand: A regional analysis

References

• Abdullah, N. I. (2012). Analysis of demand for family Takaful and life insurance: A comparative study in Malaysia. Journal of Islamic Economics, Banking and Finance, 8, 67–86.
   Google Scholar
• Akhter, W., & Hussain, T. (2012). Takāful standards and customer perceptions affecting Takāful practices in Pakistan: A survey. International Journal of Islamic and Middle Eastern Finance and Management, 5, 229–240.10.1108/17538391211255214
   Google Scholar
• Akhter, W., & Khan, S. U. (2015). Determinants of Takāful and Conventional Insurance Demand: Empirical Evidence from Asian Region (Working Paper). Department of Management Sciences, COMSATS Institute of Information Technology. Retrieved from http://www.lahore.comsats.edu.pk/ms/Files/MSDWP-12.pdf
   Google Scholar
• Anderson, D. R., & Nevin, J. R. (1975). Determinants of young marrieds’ life insurance purchasing behavior: An empirical investigation. The Journal of Risk and Insurance, 42, 375–387.10.2307/251694
   Web of Science ®Google Scholar
• Auerbach, A. T., & Kotlikoff, L. J. (1989). How rational is the purchase of life insurance? (Working paper no 3063). Cambridge, MA: National Bureau of Economic Research.10.3386/w3063
   Google Scholar
• Ayub, M. (2003). An introduction to Takaful – an alternative to insurance (p. 3). Karachi: Islamic Banking Department, State Bank of Pakistan.
   Google Scholar
• Ayub, M. (2009). Understanding Islamic finance (Vol. 462). Hoboken, NJ: John Wiley and Sons.
   Google Scholar
• Babbel, D. F. (1981). Inflation, indexation, and life insurance sales in Brazil. The Journal of Risk and Insurance, 48111–135.10.2307/252655
   Web of Science ®Google Scholar
• Baharul-Ulum, A. Z. K., & Yaakob, R. (2003). Life insurance’s demand: role played by economic variables–A Malaysian case. Proceedings from the International Conference: Asia Pacific Business Environment: Innovative Responses to Regional Events. Selangor.
   Google Scholar
• Beck, T., & Webb, I. (2003). Economic, demographic, and institutional determinants of life insurance consumption across countries. The World Bank Economic Review, 17, 51–88.10.1093/wber/lhg011
   Web of Science ®Google Scholar
• Beenstock, M., Dickinson, G., & Khajuria, S. (1986). The determination of life premiums: An international cross-section analysis, 1970–1981. Insurance: Mathematics and Economics, 5, 261–270.
   Web of Science ®Google Scholar
• Beenstock, M., Dickinson, G., & Khajuria, S. (1988). The relationship between property-liability insurance premiums and income: An international analysis. The Journal of Risk and Insurance, 55, 259–272.10.2307/253327
   Web of Science ®Google Scholar
• Browne, M., Chung, J. W., & Frees, E. W. (2000). International property-liability insurance consumption. The Journal of Risk and Insurance, 67, 73–90.10.2307/253677
   Web of Science ®Google Scholar
• Browne, M., & Kim, K. (1993). An international analysis of life insurance demand. The Journal of Risk and Insurance, 60, 616–634.10.2307/253382
   Web of Science ®Google Scholar
• Burnett, J. J., & Palmer, B. A. (1984). Examining life insurance ownership through demographic and psychographic characteristics. The Journal of Risk and Insurance, 51, 453–467.10.2307/252479
   Web of Science ®Google Scholar
• Chui, A. C., & Kwok, C. C. (2008). National culture and life insurance consumption. Journal of International Business Studies, 39, 88–101.10.1057/palgrave.jibs.8400316
   Web of Science ®Google Scholar
• Curak, M., Dzaja, I., & Pepur, S. (2013). The effect of social and demographic factors on life insurance demand in Croatia. International Journal of Business and Social Science, 4, 65–72.
   Google Scholar
• Ćurak, M., & Gašpić, K. M. (2011). Economic and social determinants of life insurance consumption–evidence from central and eastern Europe. The Journal of American Academy of Business, 16, 216–222.
   Google Scholar
• Dragos, S. L. (2014). Life and non-life insurance demand: the different effects of influence factors in emerging countries from Europe and Asia. Economic Research-Ekonomska Istraživanja, 27, 169–180.10.1080/1331677X.2014.952112
   Web of Science ®Google Scholar
• Duker, J. M. (1969). Expenditures for life insurance among working-wife families. The Journal of Risk and Insurance, 36, 525–533.10.2307/251159
   Web of Science ®Google Scholar
• Eck, J., & Nizovtsev, D. (2006). The impact of culture on the purchase of life insurance in Latin America and the Carabbean. International Business & Economics Research Journal, 5, 31–45.
   Google Scholar
• El-Gamal, M. A. (2001). An economic explication of the prohibition of Gharar in classical Islamic jurisprudence. Islamic Economic Studies, 8, 29–58.
   Google Scholar
• Ernst & Young. (2015). Global Takāful insight Report 2014. Chennai: Author.
   Google Scholar
• Esho, N., Kirievsky, A., Ward, D., & Zurbruegg, R. (2004). Law and the determinants of property-casualty insurance. The Journal of Risk and Insurance, 71, 265–283.10.1111/j.0022-4367.2004.00089.x
   Web of Science ®Google Scholar
• Feyen, E., Lester, R., & Rocha, R. (2011). What drives the development of the insurance sector? An empirical analysis based on a panel of developed and developing countries. Policy research working paper presented at The World Bank, No. 5572.
   Google Scholar
• Gandolfi, A. S., & Miners, L. (1996). Gender-based differences in life insurance ownership. The Journal of Risk and Insurance, 63, 683–693.10.2307/253478
   Web of Science ®Google Scholar
• Hammond, J., Houston, D. B., & Melander, E. R. (1967). Determinants of household life insurance premium expenditures: An empirical investigation. The Journal of Risk and Insurance, 397–408.10.2307/250854
   Web of Science ®Google Scholar
• Hau, A. (2000). Liquidity, estate liquidation, charitable motives, and life insurance demand by retired singles. The Journal of Risk and Insurance, 67, 123–141.10.2307/253680
   Web of Science ®Google Scholar
• Hausman, J. A. (1978). Specification tests in econometrics. Econometrica, 46, 1251–1271.10.2307/1913827
   Web of Science ®Google Scholar
• Hawariyuni, W. (2006). The Determinants of Demand of Syarikat Takāful Malaysia Berhad: ARDL Approach to Cointegration (Unpublished Master Thesis).Departmnet of Economics, Kulliyyah of Economics and Management Sciences, International Islamic University Malaysia, Kuala Lumpur.
   Google Scholar
• Hwang, T., & Gao, S. (2003). The determinants of the demand for life insurance in an emerging economy – The case of China. Journal of Managerial Finance, 29, 82–96.
   Google Scholar
• Lenten, L. J., & Rulli, D. N. (2006). A time-series analysis of the demand for life insurance companies in Australia: An unobserved components approach. Australian Journal of Management, 31, 41–66.10.1177/031289620603100104
   Google Scholar
• Lewis, F. D. (1989). Dependents and the demand for life insurance. American Economic Review, 79, 452–467.
   Web of Science ®Google Scholar
• Li, D., Moshirian, F., Nguyen, P., & Wee, T. (2007). The demand for life insurance in OECD countries. Journal of Risk and Insurance, 74, 637–652.10.1111/jori.2007.74.issue-3
   Web of Science ®Google Scholar
• Nesterova, D. (2008). Determinants of the demand for life insurance: Evidence from selected CIS and CEE Countries (pp. 1–49). National University “Kyiv-Mohyla Academy”. Kyiv.
   Google Scholar
• Ofoghi, R., & Farsangi, R. H. (2013). The effect of insurance knowledge on the insurancedemand: The case study of auto insurance. Technical Journal of Engineering and Applied Sciences, 3, 3356–3364.
   Google Scholar
• Outreville, J. F. (1996). Life insurance markets in developing countries. The Journal of Risk and Insurance, 63, 263–278.10.2307/253745
   Web of Science ®Google Scholar
• Park, S. C., & Lemaire, J. (2011). The impact of culture on the demand for non-life insurance. Insurance and risk management (Working paper). Philadelphia, PA: The Wharton School, University of Pennsylvania.
   Google Scholar
• Rahman, Z. A., Rosylin, M. Y., & Faizah, A. B. (2008). Family Takāful: It’s role in social economic development and as a savings and investment instrument in Malaysia–An extention. Shariah Journal, 16, 89–105.
   Google Scholar
• Redzuan, H. (2014). Analysis of the demand for life insurance and family Takāful (Working paper). Australian Academy of Business and Social Sciences Conference 2014. Retrieved from https://www.aabss.org.au/system/files/published/AABSS2014_290.pdf
   Google Scholar
• Redzuan, H., Rahman, Z. A., & Aidid, S. (2009). Economic determinants of family Takāful consumption: Evidence from Malaysia. International Review of Business Research Papers, 5, 193–211.
   Google Scholar
• Sen, S. (2008). An analysis of life insurance demand determinants for selected Asian economies and India (Working Paper). 36, 1–44. Retrieved from http://www.mse.ac.in/pub/workingpaper2036.pdf
   Google Scholar
• Sen, S., & Madheswaran, S. (2007). Are life insurance demand determinants valid for selected Asian economies and India? APRIA 11th Annual Conference - Asia-Pacific Risk and Insurance Association (pp. 1–27). Taipei: National Chengchi University.
   Google Scholar
• Sherif, M. (2010). Islamic finance: The determinants of the demand for family Takāful in Malaysia. The Asian Finance Association International Conference, 29 June-1 July, Hong Kong.
   Google Scholar
• Sherif, M., & Azlina Shaairi, N. (2013). Determinants of demand on family Takaful in Malaysia. Journal of Islamic Accounting and Business Research, 4, 26–50.10.1108/17590811311314276
   Google Scholar
• Sigma. (2013). World insurance in 2012: Progressing on long and winding road to recovery. Zurich: Swiss Reinsurance Company, Economic Research and Consulting.
   Google Scholar
• Sigma. (2015). Stronger advanced markets performance boosts insurance industry growth in 2014. Zurich: Swiss Reinsurance Company, Economic Research and Consulting.
   Google Scholar
• Tan, H.-B., Wong, M.-F., & Law, S.-H. (2009). The effect of consumer factors and firm efficiency on Malaysian life insurance expenditure. International Journal of Business and Society, 10, 59–73.
   Google Scholar
• Treerattanapun, A. (2011). The impact of culture on non-life insurance consumption. Paper presented at Wharton Research Scholars Project. Philadelphia, PA: The University of Pennsylvania.
   Google Scholar
• Trinh, T., Sgro, P., & Nguyen, X. (2015). Global financial crisis, economic freedom, and the demand for non-life insurance: An empirical investigation (Working Paper). Department of Economics, Faculty of Business and Law, Deakin University. Retrieved from https://www.rse.anu.edu.au/media/772517/Trinh-Tam.pdf
   Google Scholar
• Truett, D. B., & Truett, L. J. (1990). The demand for life insurance in Mexico and the United States: A comparative study. The Journal of Risk and Insurance, 57, 321–328.10.2307/253306
   Web of Science ®Google Scholar
• Ward, D., & Zurbrueg, R. (2002). Law, politics and life insurance consumption in Asia. Geneva Papers on Risk and Insurance - Issues and Practice, 27, 395–412.10.1111/gene.2002.27.issue-3
   Web of Science ®Google Scholar
• World Bank. (2015). Indicators: Economic policy and external debt, and education and Urban development. Washington, DC. Retrieved from http://data.worldbank.org/data-catalog/world-development-indicators
   Google Scholar
• Yazid, A. H., Arifin, J., Hussin, M. R., & Daud, W. N. W. (2012). Determinants of family Takāful (Islamic life insurance) demand: a conceptual framework for a Malaysian study. International Journal of Business and Management, 7, 115–127.
   Google Scholar
• Zerriaa, M., & Noubbigh, H. (2016). Determinants of life insurance demand in the MENA region. The Geneva Papers on Risk and Insurance-Issues and Practice, 41, 491–511.
   Web of Science ®Google Scholar
• Zietz, E. N. (2003). An examination of the demand for life insurance. Risk Management and Insurance Review, 6, 159–191.10.1046/J.1098-1616.2003.030.x
   Google Scholar