Abstract
Based on data from the China Family Panel Studies micro-social survey, this paper empirically analyzes the influence of trust on commercial insurance participation. The results demonstrate that trust significantly enhances the probability and extent of commercial insurance participation. Moreover, the research findings further support the relationship between trust and commercial insurance participation. Heterogeneity analysis reveals that trust is more prominent in promoting participation among families residing in cities and towns with lower education levels. Mechanism analysis indicates that trust facilitates the purchase of commercial insurance by increasing family income. This paper’s research introduces a novel perspective to the influencing factors affecting commercial insurance participation, emphasizes the importance of trust, and reinforces the development of the social credit system to foster the healthy growth of the commercial insurance market.
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Acknowledgement
The research of Lei Yu, Xinlong Yang, Jue Wang and Yumeng Yang is supported by the grant of The MOE (Ministry of Education in China) Liberal Arts and Social Sciences Foundation “A study on the effect of intergenerational support on household debt behavior - a perspective based on life cycle theory” [No. 18XJC790019], and Shenzhen Institute of Information Technology research start-up foundation “Research on the investment management mode of China’s pension funds” [No. SZIIT2021SK041].
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Yu, L., Yang, X., Wang, J., Yang, Y. (2023). Does Trust Improve Commercial Insurance Participation Behavior?. In: Zhang, S., Hu, B., Zhang, LJ. (eds) Big Data – BigData 2023. BigData 2023. Lecture Notes in Computer Science, vol 14203. Springer, Cham. https://doi.org/10.1007/978-3-031-44725-9_12
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