DETERMINANTS OF TAKAFUL DEMAND EVIDENCE FROM PAKISTAN

http://dx.doi.org/10.31703/grr.2022(VII-II).30      10.31703/grr.2022(VII-II).30      Published : Jun 2
Authored by : Fareeda Ashraf , Muhammad Mahmood Shah Khan , Zohaib Naeem Babar

30 Pages : 312-327

References

  • Azak, M. (1996). Determinants of Attitude towards Islamic Financing among Halal- Certified Micro and SMES: A Proposed Conceptual Framework. American Journal of Islamic Finance, 6(1), 11-17
  • Autreville, J. F. (1996). The Economic Significance of Insurance Markets in Developing Countries. The Journal of Risk and Insurance, 57(3), 487-498 https://doi.org/10.2307/252844
  • Ayinde, L. O., & Echchabi, A. (2012). Perception and Adoption of Islamic Insurance in Malaysia: An Empirical Study. World Applied Sciences Journal. 20(3), 407–415 http://doi.org/10.5829/idosi.wasj.2012.20.03.1954
  • Ayesha, S. V., Ara J., & Ehteshamul-Haque S., (2012).On the Corporate Demand for Insurance: evidence from the reinsurance market. Journal of Business, 1(5), 3555-3560 https://doi.org/10.1111/rmir.12107
  • Black, Jr. K., & Skipper Jr. H. (2000). Life and health insurance. 13th Edition.Prentice Hall Inc, New Jersey
  • Babbel, D. E. (1981). Inflation, indexation, and life insurance sales in Brazil. Journal of Risk and Insurance, 48(1), 111-135 https://doi.org/10.2307/252655
  • Babbel, D. E. (1985). The price elasticity of demand for whole life insurance. Journal of Finance, 40(1), 225-239 https://doi.org/10.2307/2328057
  • Beck, T., & I. Webb. (2003). Economic, demographic, and institutional determinants of life insurance consumption across countries, World Bank Economic Review, 17(1), 51-88 http://hdl.handle.net/10986/17169
  • Beenstock, M., Dickinson, G., & Khajuria, S. (1986). The determination of life premiums: an international cross section analysis, insurance. Mathematics and Economics. 5(1), 261-270 https://doi.org/10.1016/0167-6687(86)90020-X
  • Browne, M. J., & Kim, K. (2000). An international analysis of life insurance demand. Journal of Risk and Insurance, 60,616-634. https://doi.org/10.2307/253382
  • Burnett, J. J., & Palmer, B. A. (1984). Examining life insurance ownership through demographic and psychographic characteristics. Journal of Risk and Insurance, 51,453-467 https://doi.org/10.2307/25247
  • Campbell, R. A. (1980). The demand for life insurance: an application of the economics of uncertainty. Journal of Finance, 35, 1155-1172 https://doi.org/10.2307/232709
  • Chua, O. (2000). Proceedings from the International Conference on Takaful/Islamic Insurance, Kuala Lumpur. Journal of Insurance,3(12),453- 467
  • Deloitte. (2014). Insurance industry outlook: transforming for growth. International Economic Review, 10(4), 160-169.
  • Enz, R. (2000). The s-curve relation between per-capita income and insurance penetration, Geneva papers on risk and insurance. Issues and Practice, 25(3), 396-406. https://doi.org/10.1111/1468-0440.00072
  • Ernst, & Young. (2014). Global Takaful growth in momentum continues. Journal of Finance, 23(5), 456-569
  • Fischer, S. A. (1973). Life cycle model of life insurance purchases. International Economic Review, 14(1), 132-152 https://doi.org/10.2307/2526049
  • Fisher, O. (2009). Historical Review, Importance and an Introduction to insurable Risk. Administration in Social Work, 33,347-367.
  • Fortune, P. (1973). A theory of optimal life insurance: development and tests. Journal of Finance, 28,587-600 https://doi.org/10.1111/j.1540-6261.1973.tb01381.
  • Hassan, & Basher, M. (2004). Islamic Financial Instruments for Public Sector Resource Mobilization. Islamic Research and Training Institute, Islamic Development Bank, Jeddah, 1997, 10, 27- 60
  • Htay, S. N. N., & Salman, S. A. (2013). Viability of Islamic insurance (Takaful) in India: SWOT Analysis Approach. Review of European Studies, 5 (4), 192-206 https://doi.org/10.5539/res.v5n4p145
  • Hussels, S., Ward D. R., & Zurbruegg, R. (2005). Stimulating the demand for insurance. Risk Management& Insurance Review, 8(2), 257-278 https://doi.org/10.1111/j.1540-6296.2005.00059.x
  • Hwang, T., & Greenford, B. (2005). A cross- section analysis of the determinants of life insurance. Insurance Annual Report, 1990-2005, Malaysian Central Bank https://doi.org/10.1111/j.1540-6296.2005.00051.x
  • 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, 82-94 https://doi.org/10.1108/03074350310768779
  • Iqbal, M. (2001). Jeddah: Islamic Research and Training Institute Journal of Islamic Economic Studies, Islamic Development Bank, 8(2),
  • Masud, F. J. (1996). Life insurance markets in developing countries. Journal of Risk and Insurance, 63,263-278 https://doi.org/10.2307/253745
  • Klingmuller, & Earnest. (1969). The Concept and development of insurance in Islamic Countries. Islamic Culture . Journal of Financial Intermediation, 8(12), 143-152.
  • Levine, R. (1999). Law, finance and economic growth . Journal of Financial Intermediation, 8(12), 8-35.
  • Levine, R., Loayza, N., & Beck, T. (2000). Financial intermediation and growth: causality andcauses. Journal of Monetary Economics, 46(1), 31-77. https://doi.org/10.1016/S03043932(00)00017-9
  • Porta, L. R., Lopez-de-Silanes, F., Shleifer, A., & Vishny, R. (1997). Legal determinants of external finance. Journal of Finance, 52(3), 1131-1150. https://doi.org/10.2307/2329518
  • Porta, L. R., Lopez-de-Silanes, F., Shleifer, A., & Vishny, R. (2000). Investor protection and corporate governance. Journal ofFinancial Economics, 58(1-2), 3-27 https://doi.org/10.1016/S0304-405X(00)00065-9
  • Rahim, & Amin. (2011). The case of Malaysian Islamic banks. Journal of Islamic Accounting and Business Research, 2(1)
  • Rehman, Z. A., Yusof, R. M., & Bakar, F. A. (2008). Family Takaful: it’s role in social economic development and as a savings and investment instrument in Malaysia – an extension . Shariah Journal, 16(1), 89- 105 https://ejournal.um.edu.my/index.php/JS/article/view/22778
  • Razak, M. I. R., Idris, M. M., Yusof, W. E., Jaapar., & Ali, M. N. (2013). Acceptance determinants towards Takaful products in Malaysia. International Journal of Humanities and Social Science, 3(17), 432-444
  • Truett, D. B., & Truett, L. J. (1990). The demand for life insurance in Mexico and the United States: a comparative study. Journal of Risk and Insurance, 57, 321- 32 https://doi.org/10.2307/253306
  • Wahab, A. R. A., Lewis, M. K., & Hassan, M. K.(2007). Islamic Takaful: business models, Shariah concerns, and proposed solutions. Thunderbird International Business Review, 49(3), 371–396. https://doi.org/10.1002/tie.20148
  • Ward, D., & Zurburuegg, R. (2000). Does insurance promote economic growth? Evidence from OECD countries. Journal of Risk and Insurance, 67, 489-506. https://doi.org/10.2307/253847
  • Yamori, N. (1999). An Empirical Investigation of the Japanese Corporate Demand for Insurance. Journal of Risk and Insurance, 66, 239 – 252. https://doi.org/10.2307/253611
  • Zou, H., Adams, M. B., & Buckle, M. J. (2003). Corporate Risks and Property Insurance. Evidence from the People’s Republic of China. Journal of Risk and Insurance, 70(2), 289 – 314. https://doi.org/10.1111/1539-6975.00061

References

  • Azak, M. (1996). Determinants of Attitude towards Islamic Financing among Halal- Certified Micro and SMES: A Proposed Conceptual Framework. American Journal of Islamic Finance, 6(1), 11-17
  • Autreville, J. F. (1996). The Economic Significance of Insurance Markets in Developing Countries. The Journal of Risk and Insurance, 57(3), 487-498 https://doi.org/10.2307/252844
  • Ayinde, L. O., & Echchabi, A. (2012). Perception and Adoption of Islamic Insurance in Malaysia: An Empirical Study. World Applied Sciences Journal. 20(3), 407–415 http://doi.org/10.5829/idosi.wasj.2012.20.03.1954
  • Ayesha, S. V., Ara J., & Ehteshamul-Haque S., (2012).On the Corporate Demand for Insurance: evidence from the reinsurance market. Journal of Business, 1(5), 3555-3560 https://doi.org/10.1111/rmir.12107
  • Black, Jr. K., & Skipper Jr. H. (2000). Life and health insurance. 13th Edition.Prentice Hall Inc, New Jersey
  • Babbel, D. E. (1981). Inflation, indexation, and life insurance sales in Brazil. Journal of Risk and Insurance, 48(1), 111-135 https://doi.org/10.2307/252655
  • Babbel, D. E. (1985). The price elasticity of demand for whole life insurance. Journal of Finance, 40(1), 225-239 https://doi.org/10.2307/2328057
  • Beck, T., & I. Webb. (2003). Economic, demographic, and institutional determinants of life insurance consumption across countries, World Bank Economic Review, 17(1), 51-88 http://hdl.handle.net/10986/17169
  • Beenstock, M., Dickinson, G., & Khajuria, S. (1986). The determination of life premiums: an international cross section analysis, insurance. Mathematics and Economics. 5(1), 261-270 https://doi.org/10.1016/0167-6687(86)90020-X
  • Browne, M. J., & Kim, K. (2000). An international analysis of life insurance demand. Journal of Risk and Insurance, 60,616-634. https://doi.org/10.2307/253382
  • Burnett, J. J., & Palmer, B. A. (1984). Examining life insurance ownership through demographic and psychographic characteristics. Journal of Risk and Insurance, 51,453-467 https://doi.org/10.2307/25247
  • Campbell, R. A. (1980). The demand for life insurance: an application of the economics of uncertainty. Journal of Finance, 35, 1155-1172 https://doi.org/10.2307/232709
  • Chua, O. (2000). Proceedings from the International Conference on Takaful/Islamic Insurance, Kuala Lumpur. Journal of Insurance,3(12),453- 467
  • Deloitte. (2014). Insurance industry outlook: transforming for growth. International Economic Review, 10(4), 160-169.
  • Enz, R. (2000). The s-curve relation between per-capita income and insurance penetration, Geneva papers on risk and insurance. Issues and Practice, 25(3), 396-406. https://doi.org/10.1111/1468-0440.00072
  • Ernst, & Young. (2014). Global Takaful growth in momentum continues. Journal of Finance, 23(5), 456-569
  • Fischer, S. A. (1973). Life cycle model of life insurance purchases. International Economic Review, 14(1), 132-152 https://doi.org/10.2307/2526049
  • Fisher, O. (2009). Historical Review, Importance and an Introduction to insurable Risk. Administration in Social Work, 33,347-367.
  • Fortune, P. (1973). A theory of optimal life insurance: development and tests. Journal of Finance, 28,587-600 https://doi.org/10.1111/j.1540-6261.1973.tb01381.
  • Hassan, & Basher, M. (2004). Islamic Financial Instruments for Public Sector Resource Mobilization. Islamic Research and Training Institute, Islamic Development Bank, Jeddah, 1997, 10, 27- 60
  • Htay, S. N. N., & Salman, S. A. (2013). Viability of Islamic insurance (Takaful) in India: SWOT Analysis Approach. Review of European Studies, 5 (4), 192-206 https://doi.org/10.5539/res.v5n4p145
  • Hussels, S., Ward D. R., & Zurbruegg, R. (2005). Stimulating the demand for insurance. Risk Management& Insurance Review, 8(2), 257-278 https://doi.org/10.1111/j.1540-6296.2005.00059.x
  • Hwang, T., & Greenford, B. (2005). A cross- section analysis of the determinants of life insurance. Insurance Annual Report, 1990-2005, Malaysian Central Bank https://doi.org/10.1111/j.1540-6296.2005.00051.x
  • 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, 82-94 https://doi.org/10.1108/03074350310768779
  • Iqbal, M. (2001). Jeddah: Islamic Research and Training Institute Journal of Islamic Economic Studies, Islamic Development Bank, 8(2),
  • Masud, F. J. (1996). Life insurance markets in developing countries. Journal of Risk and Insurance, 63,263-278 https://doi.org/10.2307/253745
  • Klingmuller, & Earnest. (1969). The Concept and development of insurance in Islamic Countries. Islamic Culture . Journal of Financial Intermediation, 8(12), 143-152.
  • Levine, R. (1999). Law, finance and economic growth . Journal of Financial Intermediation, 8(12), 8-35.
  • Levine, R., Loayza, N., & Beck, T. (2000). Financial intermediation and growth: causality andcauses. Journal of Monetary Economics, 46(1), 31-77. https://doi.org/10.1016/S03043932(00)00017-9
  • Porta, L. R., Lopez-de-Silanes, F., Shleifer, A., & Vishny, R. (1997). Legal determinants of external finance. Journal of Finance, 52(3), 1131-1150. https://doi.org/10.2307/2329518
  • Porta, L. R., Lopez-de-Silanes, F., Shleifer, A., & Vishny, R. (2000). Investor protection and corporate governance. Journal ofFinancial Economics, 58(1-2), 3-27 https://doi.org/10.1016/S0304-405X(00)00065-9
  • Rahim, & Amin. (2011). The case of Malaysian Islamic banks. Journal of Islamic Accounting and Business Research, 2(1)
  • Rehman, Z. A., Yusof, R. M., & Bakar, F. A. (2008). Family Takaful: it’s role in social economic development and as a savings and investment instrument in Malaysia – an extension . Shariah Journal, 16(1), 89- 105 https://ejournal.um.edu.my/index.php/JS/article/view/22778
  • Razak, M. I. R., Idris, M. M., Yusof, W. E., Jaapar., & Ali, M. N. (2013). Acceptance determinants towards Takaful products in Malaysia. International Journal of Humanities and Social Science, 3(17), 432-444
  • Truett, D. B., & Truett, L. J. (1990). The demand for life insurance in Mexico and the United States: a comparative study. Journal of Risk and Insurance, 57, 321- 32 https://doi.org/10.2307/253306
  • Wahab, A. R. A., Lewis, M. K., & Hassan, M. K.(2007). Islamic Takaful: business models, Shariah concerns, and proposed solutions. Thunderbird International Business Review, 49(3), 371–396. https://doi.org/10.1002/tie.20148
  • Ward, D., & Zurburuegg, R. (2000). Does insurance promote economic growth? Evidence from OECD countries. Journal of Risk and Insurance, 67, 489-506. https://doi.org/10.2307/253847
  • Yamori, N. (1999). An Empirical Investigation of the Japanese Corporate Demand for Insurance. Journal of Risk and Insurance, 66, 239 – 252. https://doi.org/10.2307/253611
  • Zou, H., Adams, M. B., & Buckle, M. J. (2003). Corporate Risks and Property Insurance. Evidence from the People’s Republic of China. Journal of Risk and Insurance, 70(2), 289 – 314. https://doi.org/10.1111/1539-6975.00061

Cite this article

APA

CHICAGO

    CHICAGO : Ashraf, Fareeda, Muhammad Mahmood Shah Khan, and Zohaib Naeem Babar. 2022. "Determinants of Takaful Demand: Evidence from Pakistan." Global Regional Review, VII (II): 312-327 doi: 10.31703/grr.2022(VII-II).30

HARVARD

    HARVARD : ASHRAF, F., KHAN, M. M. S. & BABAR, Z. N. 2022. Determinants of Takaful Demand: Evidence from Pakistan. Global Regional Review, VII, 312-327.

MHRA

    MHRA : Ashraf, Fareeda, Muhammad Mahmood Shah Khan, and Zohaib Naeem Babar. 2022. "Determinants of Takaful Demand: Evidence from Pakistan." Global Regional Review, VII: 312-327

MLA

    MLA : Ashraf, Fareeda, Muhammad Mahmood Shah Khan, and Zohaib Naeem Babar. "Determinants of Takaful Demand: Evidence from Pakistan." Global Regional Review, VII.II (2022): 312-327 Print.

OXFORD

    OXFORD : Ashraf, Fareeda, Khan, Muhammad Mahmood Shah, and Babar, Zohaib Naeem (2022), "Determinants of Takaful Demand: Evidence from Pakistan", Global Regional Review, VII (II), 312-327

TURABIAN

    TURABIAN : Ashraf, Fareeda, Muhammad Mahmood Shah Khan, and Zohaib Naeem Babar. "Determinants of Takaful Demand: Evidence from Pakistan." Global Regional Review VII, no. II (2022): 312-327. https://doi.org/10.31703/grr.2022(VII-II).30