Influence of macroeconomics factors and legal stability to the insurance growth in the ASEAN-5 countries

This paper examines the influence of legal stability and macroeconomics factor to the non-life insurance development. In light of the growing significance of foreign direct investment (FDI) and trade that stimulate insurance sector, and the stress placed on legal stability of the countries, investigating the role of legal stability is crucial to sustain a country’s financial development. This study employs a panel data analysis spanning 20 years in the selected developing countries. The findings suggest that higher trade, higher income, higher stock market trading activities and higher availability of finance credit will enhance the non-life insurance development. Legal stability such as enhancement on the property right and government integrity will improve the non-life insurance development. When the legal environments in emerging countries are more stable, the FDI and stocks market will become more encouraging and stimulate non-life insurance development. The policy makers should improve the legal stability in emerging countries to improve the financial development for minimizing the gap with developed countries. This study includes the institutional factors components in addition to the macroeconomics factors could provide a complete picture towards the improvement of non-life insurance development in emerging and transition countries

A Case Study on Ranhill Water Services and Syarikat Air Negeri Sembilan in Combating the Non-Revenue Water Problem in Johor and Negeri Sembilan

Up to date, Non-Revenue Water (NRW) is still a problem in many states. This study is focused on the states of Negeri Sembilan and Johor. A team of Malaysian lecturers from Faculty of Accountancy and Management, Universiti Tunku Abdul Rahman (UTAR), under the Malaysian governmental grant (TRGS 2016-1) are researching how to combat the NRW problem in the states of Negeri Sembilan and Johor. Data were collected through field research and focus group interviews from both Ranhill Water Services Sdn Bhd (Ranhill) and Syarikat Air Negeri Sembilan Sdn Bhd (SAINS). This study also looked into the laws and several legal cases involving non-revenue in Malaysia. Our research questions are what is non-revenue water, what are the institutions governing non-revenue water in Malaysia, what are the legislations and cases of non-revenue water in Malaysia and how do we overcome non-revenue water in Malaysia based on findings from Johor and Negeri Sembilan. From the research have found that the main contributors to NRW in Johor are a leakage in their pipe system and also reservoir overflow. They are now utilizing loggers to detect leakage. It was highlighted that amongst the challenges to combat NRW are the acknowledgement and awareness on the client-side and educating the client on the true situation of the pipe conditions and how to manage the NRW problem. As for SAINS, awareness is the same issue faced by SAINS just like Ranhill in which 80.0% are still more focused towards water supply rather than NRW

Influence of macroeconomics factors and legal stability to the insurance growth in the ASEAN-5 countries

This paper examines the influence of legal stability and macroeconomics factor to the non-life insurance development. In light of the growing significance of foreign direct investment (FDI) and trade that stimulate insurance sector, and the stress placed on legal stability of the countries, investigating the role of legal stability is crucial to sustain a country’s financial development. This study employs a panel data analysis spanning 20 years in the selected developing countries. The findings suggest that higher trade, higher income, higher stock market trading activities and higher availability of finance credit will enhance the non-life insurance development. Legal stability such as enhancement on the property right and government integrity will improve the non-life insurance development. When the legal environments in emerging countries are more stable, the FDI and stocks market will become more encouraging and stimulate non-life insurance development. The policy makers should improve the legal stability in emerging countries to improve the financial development for minimizing the gap with developed countries. This study includes the institutional factors components in addition to the macroeconomics factors could provide a complete picture towards the improvement of non-life insurance development in emerging and transition countries

Influence of macroeconomics factors and legal stability to the insurance growth in the ASEAN-5 countries

This paper examines the influence of legal stability and macroeconomics factor to the non-life insurance development. In light of the growing significance of foreign direct investment (FDI) and trade that stimulate insurance sector, and the stress placed on legal stability of the countries, investigating the role of legal stability is crucial to sustain a country’s financial development. This study employs a panel data analysis spanning 20 years in the selected developing countries. The findings suggest that higher trade, higher income, higher stock market trading activities and higher availability of finance credit will enhance the non-life insurance development. Legal stability such as enhancement on the property right and government integrity will improve the non-life insurance development. When the legal environments in emerging countries are more stable, the FDI and stocks market will become more encouraging and stimulate non-life insurance development. The policy makers should improve the legal stability in emerging countries to improve the financial development for minimizing the gap with developed countries. This study includes the institutional factors components in addition to the macroeconomics factors could provide a complete picture towards the improvement of non-life insurance development in emerging and transition countries

Does difference in secondary and tertiary literacy influence life insurance consumption in the selected ASEAN countries?

Life insurance as financial tool has played essential roles to both individual and economy with the functions of promoting long term saving, reinvestment of funds, risk management, development of capital markets support on economic growth.The determinants of life insurance consumption in the perspective of economics and demographic are to be examined in the ASEAN context.The study on the difference of secondary and tertiary education towards demand for life insurance is investigated to highlight the importance of introducing insurance knowledge in the education syllabus to improve future economics with better income and social return with the support of life insurance in the market.This will ensure a well risk management among individuals, firms and countries as a whole and it align with the AEC blueprint with the purpose to rise up the living of the community

Bequest motives among older Malays in Selangor

A bequest motive seeks to provide an economic justification for the phenomenon of intergenerational transfers of wealth. In other words, it is to explain why people leave wealth behind when they die. The objective of this study is to identify what motivates the bequest transfers among older Malays in Selangor – the largest ethnic group in Malaysia for which a bequest is culturally and religiously constructed within the society. This primary data were collected through face-to-face interviews using a structured questionnaire in the second quarter of 2011 with a total sample size of 280 older Malays aged 50 years or above in the state of Selangor. From the findings, it was discovered that older Malays in Selangor, conformed more to the altruism model than other bequest models

Are the Urban Malaysian Selfish, Altruistic, Dynastic, or Social Norms and Tradition?

Abstract The trend of population aging will pose distinct challenges on many parts of society including bequest motives. Bequest is important in an economic sense and crucial element to policy prescriptions related to wealth distribution, saving behaviour among older persons, government pension policy, taxation, charitable contributions, and wealth holdings and income flow for next generation. The aim of this study is to identify the urban Malaysians' bequest motives. Three bequest motives, named selfish life-cycle model, altruism model, and social norms and tradition model have been identified in this study. The findings alert the society that children are unlikely to co-reside with, or care for their older parents if their parents have little or no housing assets and little or no income. Thus, there is urgent need to introduce and strengthen the long-term care social security system, and to upgrade and expand the old folks' homes. So that, the frail and needed older persons with little or no assets and income, can receive adequate care and financial supports

Does difference in secondary and tertiary literacy influence life insurance consumption in the selected ASEAN countries?

Life insurance as financial tool has played essential roles to both individual and economy with the functions of promoting long term saving, reinvestment of funds, risk management, development of capital markets support on economic growth. The determinants of life insurance consumption in the perspective of economics and demographic are to be examined in the ASEAN context. The study on the difference of secondary and tertiary education towards demand for life insurance is investigated to highlight the importance of introducing insurance knowledge in the education syllabus to improve future economics with better income and social return with the support of life insurance in the market. This will ensure a well risk management among individuals, firms and countries as a whole and it align with the AEC blueprint with the purpose to rise up the living of the community

The heterogeneous effects of urbanisation and institutional quality on greenhouse gas emissions in Belt and Road Initiative countries.

The rise of urbanisation in Belt and Road Initiative (BRI) countries that contribute to the disruption of the ecosystem, which would affect global sustainability, is a pressing concern. This study provides new evidence of the impact of urbanisation and institutional quality on greenhouse gas (GHG) emissions in the selected 48 BRI countries from the years 1984 to 2017. The models of this study are inferred by using panel regression model and panel quantile regression model to meet the objectives of our study as it contemplates unobserved country heterogeneity. From the panel regression model, the findings indicate that although urbanisation in BRI supports the 'life effect' hypothesis that could dampen the environment quality, this effect could be reduced through better institutional quality. Using the quantile regression method, this study concludes that one-size-fits-all strategies to reduce GHG emissions in countries with different GHG emissions levels are improbable to achieve success for all. Hence, GHG emissions control procedures should be adjusted differently across high-emission, middle-emission and low-emission countries. Based on these results, this study provides novel intuitions for policymakers to wisely plan the urbanisation blueprints to eradicate unplanned urbanisation and improve institutional quality in meeting pollution mitigation goals