Religious Affiliation and Bequest Behavior

Smitha Nair; Amrutha S.; Gopikumar V.; Sandhya G.

Smitha Nair Assistant Professor, Department of Management, Kochi, Amrita Vishwa Vidyapeetham, India
Amrutha S. Department of Management, Kochi, Amrita Vishwa Vidyapeetham, India
Gopikumar V. Assistant Professor, Department of Management, Kochi, Amrita Vishwa Vidyapeetham, India
Sandhya G. Assistant Professor, Department of Management, Kochi, Amrita Vishwa Vidyapeetham, India

Keywords: Bequest, religious affiliation, self-interest, altruism, logistic regression

Abstract

Bequest behavior is a highly delicate and complex subject which requires considerable attention by researchers across all disciplines including economics, sociology and psychology. Studying the motives behind bequests becomes critical not only from a socio-psychological perspective but also from a policy
perspective. This paper attempts to explore the socio- economic reasons which influence the intention to bequest focusing specifically on the effect of religious affiliation. This study uses survey data from India to test the hypotheses drawn from the anthropology, sociology and consumer behavior literature using logistic
regression technique. The results indicate that self-interest negatively impacts the probability of leaving a legacy. Surprisingly, the study finds evidence for negative relationship between religious affiliation and leaving a bequest. This study also reveals that unmarried women are less likely to leave a bequest. Unlike in the philanthropic literature, the research could not find satisfactory evidence of altruism and social norms driving bequest behavior among Indians.