In the era of digital technology, with the advancement of technologies, social media has become an essential foundation for communications across multiple generations. According to the Malaysian Communication and Multimedia Commission report, in the year 2016, about 21.9 million out of the 31.7 million total population of Malaysia was classified as social users. The breakdown of the social users are 97.3% claiming to have their own Facebook account, 56.1% with their own Instagram account and 45.3% are YouTube users. The main objective of this paper is to examine the determinants of social media risk attitude in Kuala Selangor, comprises three independent factors which are entertainment, sociality and information. This study was conducted through questionnaires distributed to 100 individuals in the Kuala Selangor area and regression analysis was used to analyze the findings. The results showed that there was significant relationship between the entertainment factor and information factor towards the social media risk attitude. This indicates that the risk attitudes of social media in the Kuala Selangor area, is heavily influenced by the entertainment and information factors. The sociality factor however was insignificant towards the risk attitudes of the social media
The insurance industry's growth has an all-encompassing impact on the economic state of a nation. In the recent era of COVID-19 pandemic, insurance companies experienced a slowdown in the premiums particularly in the life sector. Premium volumes worldwide declined as consumers chose to reduce discretionary expenditure on life insurance policies. Life insurance is one of the ways to provide income protection for the dependents or beneficiaries upon the passing of an insured person, total permanent disability, or maturity of the policy contract. This study therefore takes stock of the recent events in examining the nexus between macroeconomic variables and life insurance demand in Malaysia. The ordinary least square (OLS) methodology is employed using 34 years data spanning from 1988 until 2021. The findings from this study revealed that apart from household savings and the stock market, inflation, income, and unemployment are significant factors in determining the life insurance demand. These empirical findings are expected to contribute to enriching the existing literature and to create awareness of the benefits that life insurance may offer in potential risks transfer to the insurer. From the macroeconomic perspective, the findings may assist policymakers in developing pre-emptive measures to protect life insurance businesses from the negative repercussions of lower market confidence following an economic downturn. An insight into the long-run relationship between the macroeconomic variables and life insurance demand using cointegration techniques is suggested for future researchers.
The purpose of this study is to examine the antecedents of financial wellness among young employees in Kuala Lumpur. A survey was carried out to acquire data from 324 young employees using a self-administered on-line questionnaire, utilizing convenience sampling. Results showed that financial stress, work environment, locus of control and financial behavior has significant relationship with financial wellness. It was found that financial stress, work environment, locus of control and financial behavior has significant effect on respondents’ financial wellness. Based on the results, financial wellness can be enhanced through the decreased of the employees’ financial stress and increasing of their work environment, locus of control and financial behavior.
The expansion of the insurance sector has a profound effect on a country's economy. Insurance companies experienced a slowdown in premiums during the COVID-19 pandemic, particularly in the life sector. Due to consumers' discretionary decision to spend less on life insurance policies, premium volumes decreased globally. One way to provide income protection for dependents or beneficiaries upon the death of an insured person, total permanent disability, or policy contract maturity is through life insurance. This study, therefore, this study considers recent events as it examines the factors that influence the demand for life insurance in Malaysia. The ordinary least square (OLS) method is employed using 34 years of data spanning from 1988 until 2021. The result of VECM showed that Income positively affects demand in the long run, while the other two variables, savings, and unemployment negatively affect demand in the long run. The empirical findings are expected to enrich the existing literature and to create awareness of the benefits that life insurance may offer in potential risks transferred to the insurer. Furthermore, the research findings could also help policymakers create preventative measures to protect life insurance companies from the consequences of diminished market confidence in the slowdown of the business cycle.
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