Study Findings on Social Science Reported by Researchers at Beijing Technology and Business University (Does Music Encourage Residents to Purchase Commercial Insurance? Evidence From China): Science – Social Science

2023 OCT 10 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Data detailed on social science have been presented. According to news reporting originating from Beijing Technology and Business University by NewsRx correspondents, research stated, “Commercial insurance is an important risk management tool whose demand is affected by psychological factors.”

Financial supporters for this research include Major Program Project of National Social Science Foundation of China Research Foundation for Youth Scholars of the Beijing Technology and Business University Major Program Project of the National Social Science Foundation of China National Social Science Foundation of China.

The news reporters obtained a quote from the research from Beijing Technology and Business University: “Music can promote consumption by evoking non-random emotional and behavioral responses in consumers. Using data from the China Comprehensive Social Survey, we examined the impact of music on commercial insurance purchase behavior using a probit model, an instrumental variable, propensity score matching, and other methods. The results indicate that music can significantly increase the probability of residents purchasing commercial medical insurance and endowment insurance by 2.569% and 1.869%, respectively. Regarding the mechanism, music encourages residents to purchase insurance by increasing their general cognition, risk cognition, insurance cognition, and ability to manage risk.”

According to the news editors, the research concluded: “Furthermore, an analysis of heterogeneity shows that music plays a greater role in promoting the aforementioned behavior of residents with lower levels of education, lower frequencies of social interaction, internet usage, an agricultural household registration, and of residents with jobs.”

For more information on this research see: Does Music Encourage Residents to Purchase Commercial Insurance? Evidence From China. SAGE Open, 2023,13. (SAGE Open - http://journals.sagepub.com/home/sgoa). The publisher for SAGE Open is SAGE Publishing.

A free version of this journal article is available at https://doi.org/10.1177/21582440231196838.

Our news journalists report that more information may be obtained by contacting Lifei Gao, Beijing Technology and Business University, People’s Republic of China. Additional authors for this research include Li Wang, Shouji Sun, Guojun Wang, Xuemeng Ding.

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