IDEAS home Printed from https://ideas.repec.org/a/eee/finana/v99y2025ics1057521925000419.html
   My bibliography  Save this article

National risk preference, insurance development and exports-a study based on the world values survey

Author

Listed:
  • Zeng, Xiaohui
  • Xing, Danna
  • Zhan, Qilin
  • Mu, Xiuzhen

Abstract

Based on the data from the World Values Survey and the World Integrated Trade Solution for 23 exporting countries (regions) from 1993 to 2021, this paper studies the impact of national risk preference on exports, and investigates the moderating effect of insurance development level on this impact. The results show that national risk preference has a significant positive effect on the exports of exporting countries (regions), and the results are still significant after endogeneity and robustness tests. The development of insurance industry has a significant promoting effect on the exports of exporting countries (regions), but the coefficient of the interaction term with national risk preference is significantly negative, indicating its substitution for national risk preference. Exporting countries (regions) with lower insurance development levels rely more on the spirit of adventure to overcome risks in exporting, but the development of insurance industry is conducive to overcoming this constraint. According to the results of heterogeneity test, the substitution is limited. Its mediating effect is significant for low contract- intensive products with less risks. However, the effect is not significant for high contract-intensive products with higher risks.

Suggested Citation

  • Zeng, Xiaohui & Xing, Danna & Zhan, Qilin & Mu, Xiuzhen, 2025. "National risk preference, insurance development and exports-a study based on the world values survey," International Review of Financial Analysis, Elsevier, vol. 99(C).
    • Handle: RePEc:eee:finana:v:99:y:2025:i:c:s1057521925000419
    DOI: 10.1016/j.irfa.2025.103954
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1057521925000419
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.irfa.2025.103954?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:finana:v:99:y:2025:i:c:s1057521925000419. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/620166 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.