China Research Workshop 中国研究讲座 Lunch Discussion RSVP
Friday, February 28, 2020 | 12:00-1:30 p.m. | GPS Dean's Conference Room

Does Investment-Induced Stress Drive Demand for Health Insurance? Evidence from China

Presenter: Jianren Xu, Assistant Professor, University of North Texas

Volatile stock market leads to substantial mental stress among investors that adversely affects their health. Using a proprietary policy-level data from a large insurance company in China, we find that large daily stock market fluctuations drive the demand for health insurance policies, with a stronger effect when the market drops than when it rises. The mechanism tests demonstrate that when the market becomes volatile, the press media covers more incidents of stress-induced diseases, including hospitalization and death, which leads to more attention to the related keywords in the search engine so that the public becomes aware of the link between market fluctuations and health issues. Given the waiting-period provision by insurers (i.e., policy not effective until months after the purchase), our results support the salience theory.


CRW provides a forum for the presentation of original research by China scholars from around the country in social science and humanities, sponsored by the Fudan-UC Center on Contemporary China. To view archive and upcoming workshops list, visit:
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