Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/13466
Title: Cultural practices and life insurance consumption : an international analysis using GLOBE scores
Authors: Chui, ACW 
Kwok, CCY
Keywords: Culture
GLOBE
Individualism
Life insurance consumption
Power distance
Issue Date: 2009
Source: Journal of multinational financial management, 2009, v. 19, no. 4, p. 273-290 How to cite?
Journal: Journal of Multinational Financial Management 
Abstract: This cross-disciplinary study examines how national culture practice affects cross-country variations in life insurance consumption. To proxy for national culture dimensions, we use the refined measure of the GLOBE project which includes several additional cultural dimensions not included in Hofstede's analysis. Using 1966-2004 data across thirty-eight countries, our analysis reveals a strong relationship between life insurance consumption and the practice scores of in-group collectivism as well as power distance. These relationships continue to hold, even after controlling for other country-level variables such as national income, expected inflation rate, banking sector development, investor protection index, dependency ratio, life expectancy, and religion.
URI: http://hdl.handle.net/10397/13466
ISSN: 1042-444X
DOI: 10.1016/j.mulfin.2009.02.001
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