scholarly journals Factors Shaping Consumers Intention in Purchasing Life Insurance Policy in Bangladesh: A Binary Logistic Analysis

2021 ◽  
pp. 21-36
Author(s):  
Golam Ramij
Keyword(s):  
Life Insurance ◽  
Insurance Coverage ◽  
Binary Logistic Regression ◽  
Sampling Technique ◽  
Positive Influence ◽  
Jel Classification ◽  
Influential Factors ◽  
Insurance Policy ◽  
Binary Logistic Regression Model ◽  
Logistic Analysis

Abstract This paper investigates the demographic and socio-economic influential factors that work as a motivational tool for purchasing life insurance policies by the eligible consumers of Bangladesh. Using convenience sampling technique, responses of three hundred seventy-eight persons have been analyzed using this study's binary logistic regression model. This study found that demographic variables like age, education, and gender have no significant impact on life insurance policy buying decisions. On the contrary, the number of dependents in a family, nature of work, and monthly income positively impact the policy purchase decision. This study also reveals that insurance literacy has a positive influence, but acquired information about insurance policy negatively impacts consumers' purchasing decisions. In addition to that, the study's findings also show that people usually purchase a life insurance policy for tax benefit purposes instead of investment purposes. The outcomes of the study will be helpful to the insurers and policymakers to find out the major areas of improvement to bring more people under life insurance coverage, and for prospective consumers, it will guide them to understand the benefits of having a life insurance policy. JEL classification numbers: C83, C93, H55, I13. Keywords: Life insurance, Logistic model, Forecasting, Tax benefits, Agent.

scholarly journals Household Food Security Status and Its Determinants in Maphumulo Local Municipality, South Africa

2018 ◽  
Vol 10 (9) ◽  
pp. 3307 ◽  
Author(s):  
Primrose Ngema ◽  
Melusi Sibanda ◽  
Lovemore Musemwa
Keyword(s):  
South Africa ◽  
Food Security ◽  
Food Consumption ◽  
Dietary Diversity ◽  
Binary Logistic Regression ◽  
Sampling Technique ◽  
Household Food Security ◽  
Binary Logistic Regression Model ◽  
Household Food ◽  
Food Security Status

Food security at the household level remains a major issue in South Africa and for many other developing countries, particularly those in Africa. As a means of ensuring food security in KwaZulu-Natal province, various food security intervention programmes were launched. Nonetheless, food security remains an issue among households in the province. This paper estimates the household food security status of the “One Home One Garden” (OHOG) beneficiaries against that of non-beneficiaries and assesses the determinants of household food security status in Maphumulo. A stratified random sampling technique was used to sample 495 households (including 330 OHOG beneficiaries and 165 non-beneficiaries). The status of household food security was estimated by means of a “Household Dietary Diversity Score” (HDDS). Additionally, a Household Food Consumption Score” (HFCS) tool was employed to supplement the HDDS. The results showed that food consumption patterns were characterized by medium (4.89) and average (4.22) HDDS for the OHOG beneficiaries and non-beneficiaries, respectively. Taking HDDS as a proxy for household food security, an independent samples t-test (Levene’s test—equal variances assumed) reveals a significant (p < 0.001) relationship between the sample means of the two groups. A greater proportion (65%) of the OHOG beneficiaries had an acceptable (≥35) HFCS level, whereas just over half (54%) of the non-beneficiaries fell in the borderline (21.5 to 35) HFCS level. The determinants of household food security status were elicited by means of a binary logistic regression model. The results revealed that education (p = 0.036), receiving infrastructural support (irrigation) (p = 0.001), and participation in the OHOG programme (p = 0.000) positively influenced the food security status of households, yet household income (p = 0.000) and access to credit (p = 0.002) showed a negative correlation. This paper proposes that government and developmental agencies, in their efforts to enhance food security through food security intervention programmes, should support households by investing in education and agricultural infrastructure, as well as giving priority to smallholder infrastructural irrigation support for households that largely rely on rain-fed systems.

scholarly journals Why to Buy Insurance? An Explainable Artificial Intelligence Approach

Risks ◽  
2020 ◽  
Vol 8 (4) ◽  
pp. 137
Author(s):  
Alex Gramegna ◽  
Paolo Giudici
Keyword(s):  
Artificial Intelligence ◽  
Real Time ◽  
Life Insurance ◽  
Insurance Coverage ◽  
Insurance Policy ◽  
Explainable Artificial Intelligence ◽  
Explainable Ai ◽  
Shapley Values ◽  
Intelligence Approach ◽  
Artificial Intelligence Approach

We propose an Explainable AI model that can be employed in order to explain why a customer buys or abandons a non-life insurance coverage. The method consists in applying similarity clustering to the Shapley values that were obtained from a highly accurate XGBoost predictive classification algorithm. Our proposed method can be embedded into a technologically-based insurance service (Insurtech), allowing to understand, in real time, the factors that most contribute to customers’ decisions, thereby gaining proactive insights on their needs. We prove the validity of our model with an empirical analysis that was conducted on data regarding purchases of insurance micro-policies. Two aspects are investigated: the propensity to buy an insurance policy and the risk of churn of an existing customer. The results from the analysis reveal that customers can be effectively and quickly grouped according to a similar set of characteristics, which can predict their buying or churn behaviour well.

scholarly journals A PRELIMINARY STUDY ON THE RELATIONSHIP BETWEEN PSYCHOGRAPHIC FACTORS AND THE PURCHASE OF LIFE INSURANCE

2017 ◽  
Author(s):  
Tan Suang Sin ◽  
Lim Chee Chee
Keyword(s):  
Life Insurance ◽  
Negative Relationship ◽  
Risk Attitude ◽  
Binary Logistic Regression ◽  
Sampling Technique ◽  
Binary Logistic Regression Analysis ◽  
Personal Value ◽  
Risky Behaviours ◽  
Preliminary Study ◽  
The Relationship

This was a preliminary study conducted to examine the relationship between psychographic factors (i.e., personal value, risk attitude, and trust) and the purchase of life insurance among Alor Setar city folks. A non-probability convenience sampling technique was used to collect data from early February to mid-March 2015. A sample comprising 108 respondents were subjected to binary logistic regression analysis. The major finding of this study showed that risk attitude has a significant and negative relationship with the purchase of life insurance. Respondents in Alor Setar who are more likely to involve in risky behaviours or activities tend not to buy life insurance. Risk taking individuals do not behave like risk averse individuals who tend to seek protection by buying life insurance as a method to cover their personal risks. Meanwhile, personal value and trust were found to have no significant relationship with the purchase of life insurance among respondents in Alor Setar. It is recommended that a comprehensive study covering wider areas with larger sample sizes be included in future studies to obtain more reliable results that would enable the generalisation of findings. Keywords: Life insurance, Psychographic factors, Personal value, Risk attitude, Trust

scholarly journals The Effect of Emotional Branding on Word-Of-Mouth: Evidence from Indonesia

2018 ◽  
Vol 6 (4) ◽  
pp. 140-146
Author(s):  
Vita Briliana ◽  
Nurti Widayati
Keyword(s):  
Brand Loyalty ◽  
Word Of Mouth ◽  
Sampling Technique ◽  
Cost Effective ◽  
Positive Influence ◽  
Jel Classification ◽  
Partial Least Square ◽  
Least Square ◽  
Brand Trust ◽  
Brand Love

Objective - The purpose of this paper is to explore how brand love affects consumers' brand trust, brand loyalty and word-of-mouth promotion towards an online public transport app in Jakarta, Indonesia. GO-JEK is a cost-effective, transport-based application that is used by passengers in Indonesia. Methodology/Technique - This research uses a purposive sampling technique to select 380 GO-JEK users. Partial least square version 3.0 analysis was used to analyze the data collected through the questionnaires. Findings - The study reveals that brand love, brand trust and brand loyalty have a positive influence on word-of-mouth advertising. Novelty - Brand love strongly influences brand trust, followed by brand loyalty and word-of-mouth. Type of Paper - Empirical. Keywords: Brand Love; Brand Loyalty; Brand Trust; Word-of-mouth. JEL Classification: M30, M31, M39.

scholarly journals Nexus between Poverty and Child Labor: A Case Study in Narayanganj Area of Bangladesh Using Binary Logistic Regression

2021 ◽  
Vol 7 (11) ◽  
pp. 194
Author(s):  
Shamima Akter ◽  
Wasim Akram
Keyword(s):  
Logistic Regression ◽  
Child Labor ◽  
Odds Ratio ◽  
Group Discussion ◽  
Binary Logistic Regression ◽  
Sampling Technique ◽  
Drop Out ◽  
Poor People ◽  
Binary Logistic Regression Model ◽  
Household Heads

<p>The purpose of the study is to see how poverty influences child labor. To carry out the study, moderate poor people have been considered as respondents. Kalibazar and Langalband regions of Narayanganj district have been selected. Random sampling technique and Focused Group Discussion with children have been taken to conduct the study. Data has been collected from 50 Household Heads and 50 Children (male and female). For economic analysis, the Binary Logistic Regression model has been undertaken to see the relationship between poverty and child labor.  The analysis shows that the odds ratio indicates that drop-out children from school are 11.34 times more likely to go for taking the occupation of child labor due to poverty (major cause) than those children who have been dropped out due to other reasons (reference category). The study also shows that the families having no loan are 0.444 times less likely to go for child labor due to major causes (poverty) than that of the families having a loan. Moreover, the odds ratio corresponding to the children who use their income to help their families is 3.26. It means that the children who use their income for family purposes go 3.26 times more likely to take the occupation of child labor due to a major cause (poverty) than those children who do not use their income for family purposes. At the same time, the children who use their income for treatment purposes go 1.45 times more likely to take the occupation of child labor due to poverty (a major cause) than those children who do not use their income for treatment purposes.</p>

scholarly journals Gender Differences in Healthcare-Seeking Behaviors in China’s Ageing Population: An Empirical Study of Shanghai

2020 ◽  
Author(s):  
Luxue Liu ◽  
Chunlan Wang ◽  
Shangguang Yang ◽  
Kevin Lo ◽  
Xi Yang
Keyword(s):  
Gender Differences ◽  
Elderly Population ◽  
Binary Logistic Regression ◽  
The Elderly ◽  
Influential Factors ◽  
Ageing Population ◽  
Binary Logistic Regression Model ◽  
Healthcare Seeking ◽  
Factors Influencing ◽  
Tertiary Hospitals

Abstract Background: Given the growing healthcare demands of the elderly, an improved understanding of the factors influencing their healthcare-seeking behaviors is necessary to enhance the effectiveness of the current healthcare system. This study empirically investigates the factors influencing the elderly population’s healthcare-seeking behaviors in Shanghai, China, from a gender differences perspective.Methods: We combine both quantitative and qualitative analyses by constructing a binary logistic regression model and identifying the relevant influential factors based on the following types of dimensions: individual, family, and cultural.Results: The results indicate that gender differences exist in the elderly population with common diseases but not in those with severe diseases, and that the female elderly are more likely to choose non-tertiary hospitals than males. In addition, age, marital status, employment status, income, health conditions, medical insurance, family support, and social capital are found to be critical influencing factors.Conclusions: The findings provide a better understanding of the elderly population’s healthcare demands and can be used to promote healthcare equality.

scholarly journals Accounting Practices and Organizational Performance: Evidence from Small and Medium Scale Enterprises in Sri Lanka

2020 ◽  
Vol 4 (1) ◽  
pp. 69-75
Author(s):  
Saseela Balagobei
Keyword(s):  
Sri Lanka ◽  
Organizational Performance ◽  
Small And Medium Enterprises ◽  
Sampling Technique ◽  
Developed Countries ◽  
Positive Influence ◽  
Jel Classification ◽  
Primary Data ◽  
Record Keeping ◽  
Medium Scale

Over the past few decades, the researchers demonstrate consistent effort in investigating the Small and Medium scale Enterprises (SMEs). This sector plays a crucial role in the economic growth in both developing and developed countries. The research investigated how accounting practices influence the organizational performance of small and medium scale enterprises in Sri Lanka. Accounting practices consists of record keeping, budgeting practices and payroll accounting whereas organizational performance is measured by organizational goal achievement, organizational effectiveness and organizational efficiency records. A structured questionnaire was used to collect the primary data from 75 SMEs which were selected by means of the random sampling technique. The results revealed that among the accounting practices, only record keeping and budgeting practices have significant positive influence on organizational performance of Small and medium enterprises in Sri Lanka. It can be recommended that academic institutions and other bodies which are responsible for SMEs should organize training programmes for those operators who do not have the technical knowhow in the field of accounting to come to grips with it and also provide some SME-specific accounting guidelines and template forms for capturing accounting practices for the operators to use. JEL Classification: M41.

Performance of Small Businesses in Tanzania: Human Resources-Based View

2020 ◽  
pp. 097215092092735
Author(s):  
Robert Galan Mashenene ◽  
Neema P. Kumburu
Keyword(s):  
Human Resources ◽  
Small Businesses ◽  
Behavioural Change ◽  
Binary Logistic Regression ◽  
Sampling Technique ◽  
Snowball Sampling ◽  
Binary Logistic Regression Model ◽  
Multi Stage ◽  
Data Content ◽  
Training Programmes

This study examined the performance of small businesses in Tanzania using human resources-based approach. A sample of 380 small business owners was surveyed using a structured questionnaire. Multi-stage sampling technique was used, whereas proportionate stratified sampling was applied which was followed by random sampling technique. In addition, snowball sampling technique was used to select cases of interest for in-depth interview. Excel and a Statistical Package for Social Sciences (SPSS) were used as analytical tools for quantitative data. Content analysis was used to analyse qualitative data from four case studies developed. Binary logistic regression model was used to estimate the effects of employees’ commitment, trustfulness and competencies on the performance of small businesses. The study revealed that employees’ commitment, honesty and competencies had a significant positive effect on the performance of small businesses. The study recommends that special training programmes should be designed and implemented for the purpose of imparting competencies and behavioural change to employees of small businesses.

The impact of employee participation in online innovation communities on idea quality

Kybernetes ◽  
2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jing Yu ◽  
Chen Liu
Keyword(s):  
New Product Development ◽  
Idea Generation ◽  
Binary Logistic Regression ◽  
Positive Influence ◽  
User Innovation ◽  
Binary Logistic Regression Model ◽  
Content Type ◽  
Idea Quality ◽  
The Impact ◽  
Innovation Community

Purpose Online user innovation community (OUIC) has become a vital source for enterprises to obtain user innovation ideas and interact with users in new product development. However, most studies only focus on the relationship between users and ideas, often ignoring the influence of employees in the innovation platform. The purpose of this study is to explore the impact of employee behaviors on idea quality in OUIC. Design/methodology/approach In this paper, the authors collected sample data of open user innovation community – Idea Exchange – and then, the authors examined the direct roles of employee’s idea generation behaviors and idea promotion behaviors on idea quality and the moderating roles of social networks position and enthusiasm by using binary logistic regression model. Findings Results indicated that employee’s idea generation behaviors and idea promotion behaviors have a positive influence on users’ idea quality. Also, the social network position and characteristics show the moderation effect of employee behavior and idea quality. Originality/value This study is different from prior studies because it emphasizes the role of employees in the open source platform. The findings suggest that enterprises and platform managers pay more attention to the impact of employees and improve the quality of ideas and promote the development of OUIC.

scholarly journals Factors influencing early initiation of breastfeeding among mothers in Rajshahi district, Bangladesh

2020 ◽  
Author(s):  
Ummay Ayesha ◽  
Abu Sayed Md. Al M ◽  
Md. Nurul Islam ◽  
Md. Ripter Hossain ◽  
Samme Amena Tasmia ◽  
...  
Keyword(s):  
Binary Logistic Regression ◽  
Influential Factors ◽  
Immune Defense ◽  
Early Initiation ◽  
Binary Logistic Regression Model ◽  
Chi Square ◽  
Early Initiation Of Breastfeeding ◽  
Level Ii ◽  
Chi Square Test ◽  
Initiation Of Breastfeeding

Abstract Background: Early initiation of breastfeeding (EIBF) act as the first immunization for the newborns, fortify their immune defense system and eventually reduce the mortality rate. This study aimed to identify the influential factors of EIBF among mothers in Rajshahi district, Bangladesh.Methods: A total number of 421 mothers living in Rajshahi district who had at least one child aged 6-24 months were considered as sample. Mothers were selected using multistage random sampling. This study was conducted from January to March, 2019. The EIBF was measured by a principal question, “Did you provide your breast milk to your newborns within one hour after delivery?” Frequency distribution and Chi-square test and multivariable binary logistic regression model were utilized in this study for getting prevalence and influential factors of EIBF respectively. Results: This study revealed that the prevalence of EIBF among mothers in Rajshahi district was 88.4%. Multivariable logistic model provided eight influential factors of EIBF: (i) husbands’ education level, (ii) husbands’ occupation, (iii) family monthly income, (iv) mothers’ age, (v) mothers’ BMI, (vi) place of delivery, (vii) getting pregnancy with planning, and (viii) mothers taking advice regarding the benefit of breastfeeding during their pregnancy. Conclusions: This study identified several modifiable influential factors of EIBF. The customs, culture and other characteristics are almost the same across the country. These factors could be considered to increase the rate of EIBF among mothers in Bangladesh.

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