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Modeling the demand for family and general takaful in Malaysia (a comparative study): ARDL approach to cointegration

Objective- Nowadays, numerous studies focus on the determinant of the demand for takaful,either family or general takaful in Malaysia. In this respect, these studies employ economic and socio-demographic variables to examine the determinants of takaful. They found that income, interest rates, finan...

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Main Authors: Weni, Hawariyuni, Che Mohd Salleh, Marhanum
Format: Article
Language:English
Published: Institute for Research and Community Empowerment (IRCE), Tazkia University College of Islamic Economics 2012
Subjects:
H Social Sciences (General)
HG Finance
Online Access:http://irep.iium.edu.my/40221/1/Tazkia.pdf
http://irep.iium.edu.my/40221/
http://www.tifbr-tazkia.org/
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spelling my.iium.irep.402212015-01-05T03:01:54Z http://irep.iium.edu.my/40221/ Modeling the demand for family and general takaful in Malaysia (a comparative study): ARDL approach to cointegration Weni, Hawariyuni Che Mohd Salleh, Marhanum H Social Sciences (General) HG Finance Objective- Nowadays, numerous studies focus on the determinant of the demand for takaful,either family or general takaful in Malaysia. In this respect, these studies employ economic and socio-demographic variables to examine the determinants of takaful. They found that income, interest rates, financial development, pensions, stocks, price of insurance, life expectancy,dependency ratio, education, and age have positive on determinants of takaful. However, previous studies have found that inflation, savings, and unemployment rate have negative relationship with the determinant of takaful in Malaysia. This study attempts to examine the determinants of the demand for family takaful and general takaful for comparative study in Malaysia for the period of 1988 to 2010. It employs economic and socio-demographic variables to measure these determinants. Methods-Using time series data, this study applies the Autoregressive Distributive Lag (ARDL) approach to cointegration to examine the determinants of the demand for family takaful and general takaful in the short and long run. Result-The findings indicate that the economic and socio-demographic variables such as income, and education have positive relationship with the demand for family takaful in the short run, but not in the long run. Conclusion-Meanwhile, it also indicates that income and education have no relationship withdemand for general takaful in Malaysia in the short run and long run. It indicates that if there is an increase in income, people tend to buy more family takaful of STMB. At the same time, the educated people already aware of the takaful products, they may necessarily purchase family takaful than life insurance. Keywords :Family Takaful, General Takaful, ARDL, Economic and Socio-Demographic Variables, Malaysia Institute for Research and Community Empowerment (IRCE), Tazkia University College of Islamic Economics 2012 Article REM application/pdf en http://irep.iium.edu.my/40221/1/Tazkia.pdf Weni, Hawariyuni and Che Mohd Salleh, Marhanum (2012) Modeling the demand for family and general takaful in Malaysia (a comparative study): ARDL approach to cointegration. Tazkia Islamic Finance and Business Review, 7 (1). pp. 29-47. ISSN 1907-8145 http://www.tifbr-tazkia.org/
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
topic H Social Sciences (General)
HG Finance
spellingShingle H Social Sciences (General)
HG Finance
Weni, Hawariyuni
Che Mohd Salleh, Marhanum
Modeling the demand for family and general takaful in Malaysia (a comparative study): ARDL approach to cointegration
description Objective- Nowadays, numerous studies focus on the determinant of the demand for takaful,either family or general takaful in Malaysia. In this respect, these studies employ economic and socio-demographic variables to examine the determinants of takaful. They found that income, interest rates, financial development, pensions, stocks, price of insurance, life expectancy,dependency ratio, education, and age have positive on determinants of takaful. However, previous studies have found that inflation, savings, and unemployment rate have negative relationship with the determinant of takaful in Malaysia. This study attempts to examine the determinants of the demand for family takaful and general takaful for comparative study in Malaysia for the period of 1988 to 2010. It employs economic and socio-demographic variables to measure these determinants. Methods-Using time series data, this study applies the Autoregressive Distributive Lag (ARDL) approach to cointegration to examine the determinants of the demand for family takaful and general takaful in the short and long run. Result-The findings indicate that the economic and socio-demographic variables such as income, and education have positive relationship with the demand for family takaful in the short run, but not in the long run. Conclusion-Meanwhile, it also indicates that income and education have no relationship withdemand for general takaful in Malaysia in the short run and long run. It indicates that if there is an increase in income, people tend to buy more family takaful of STMB. At the same time, the educated people already aware of the takaful products, they may necessarily purchase family takaful than life insurance. Keywords :Family Takaful, General Takaful, ARDL, Economic and Socio-Demographic Variables, Malaysia
format Article
author Weni, Hawariyuni
Che Mohd Salleh, Marhanum
author_facet Weni, Hawariyuni
Che Mohd Salleh, Marhanum
author_sort Weni, Hawariyuni
title Modeling the demand for family and general takaful in Malaysia (a comparative study): ARDL approach to cointegration
title_short Modeling the demand for family and general takaful in Malaysia (a comparative study): ARDL approach to cointegration
title_full Modeling the demand for family and general takaful in Malaysia (a comparative study): ARDL approach to cointegration
title_fullStr Modeling the demand for family and general takaful in Malaysia (a comparative study): ARDL approach to cointegration
title_full_unstemmed Modeling the demand for family and general takaful in Malaysia (a comparative study): ARDL approach to cointegration
title_sort modeling the demand for family and general takaful in malaysia (a comparative study): ardl approach to cointegration
publisher Institute for Research and Community Empowerment (IRCE), Tazkia University College of Islamic Economics
publishDate 2012
url http://irep.iium.edu.my/40221/1/Tazkia.pdf
http://irep.iium.edu.my/40221/
http://www.tifbr-tazkia.org/
_version_ 1643611777769930752
score 13.211869

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