Authors: Amarjit Gill; Manjit Singh; Harvinder S. Mand
Addresses: Department of Finance and Management Science, Edwards School of Business, The University of Saskatchewan, 25 Campus Drive, Saskatoon S7N-5A7, SK, Canada ' School of Applied Management, Punjabi University, Patiala, Punjab 147002, India ' Department of Commerce, University College, Benra (Dhuri), Sangrur, East Punjab 148024, India
Abstract: This study examines the relationship between meditation practices of Indian business owners and their decisions regarding purchasing insurance to manage financial risk. We asked business owners (the owners of micro-, small- and medium-sized firms) about their beliefs, perceptions and feelings regarding the relationship between their meditation practices and insurance purchasing decisions to manage financial risk. Findings show that the insurance purchasing decisions of Indian business owners to manage financial risk are positively associated with their meditation practices. The results also show that Indian business owners with meditation practices are more receptive to purchase insurance compared with the business owners without meditation practices. This study contributes to the literature on the relationship between meditation practices of business owners and their insurance purchasing decisions to manage financial risk. The findings may be useful for business owners, insurance companies, financial planners and financial management consultants.
Keywords: assets; financial risk; income; insurance purchasing decision; meditation.
International Journal of Behavioural Accounting and Finance, 2017 Vol.6 No.2, pp.107 - 125
Received: 15 Aug 2016
Accepted: 11 Jan 2017
Published online: 10 Sep 2017 *