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Firms’ characteristics: a preliminary study of family Takaful demand in Malaysia
Norizan Remli1, Muhamad Muda2, Romzie Rosman3.
This paper aims to examine the impact of firms’ characteristics namely income,
age, size and agents on Family Takaful demand in Malaysia. Secondary data are used to
conduct the hypotheses testing on 25 Takaful operators which offer Family Takaful
protection in Malaysia from the year 2008-2016. The regression model pooled OLS, randomeffect model and fixed-effect model were conducted. The Hausman test results showed that
the random-effect model is better than the fixed-effect model. The results showed that the size
of the firms (lSize) and agents’ performance (lFees) were positive and they significantly
affected family Takaful demand in Malaysia. Firms’ income (lInc) and firms’ age (Age) were
negative and insignificant in explaining the Family Takaful demand in Malaysia. Hence,
these findings suggest that the size of the business and promoting a good agents’
performance within firms is important in order to uphold the industry sustainability.
Affiliation:
- Universiti Islam Malaysia, Malaysia
- Universiti Islam Malaysia, Malaysia
- Management and Science University, Malaysia
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