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Article: Creating a market in the presence of cultural resistance: The case of life insurance in China

TitleCreating a market in the presence of cultural resistance: The case of life insurance in China
Authors
Issue Date2009
PublisherSpringer Verlag Dordrecht. The Journal's web site is located at http://springerlink.metapress.com/openurl.asp?genre=journal&issn=0304-2421
Citation
Theory And Society, 2009, v. 38 n. 3, p. 271-305 How to Cite?
AbstractThis article brings together two different conceptions of culture-a shared meaning system on one hand and a repertoire of strategies on the other-to understand the emergence of a market. Based on ethnographic data, it examines how a Chinese life insurance market is emerging in the presence of incompatible shared values and ideas acting as cultural barriers, and how these cultural barriers shape the formation of the market. The findings reveal a burgeoning Chinese life insurance market despite local cultural logics incompatible with the profit-oriented institutional logic of life insurance. This Chinese market, however, has developed along a different trajectory from what might be expected. It first emerged as a money management, rather than a risk management, market. I argue that the very cultural barriers that compose the local resistance to a new economic practice also necessitate the mobilization of the cultural tool-kit to circumvent this resistance. These dual processes, shared ideas composing the resistance and the cultural tool-kit circumventing the resistance, shape the trajectory and characteristics of an emergent market. I propose a theoretical model specifying the mechanisms through which the two forms of culture interplay to influence the development of the life insurance. I apply this model to extend Zelizer's (1979) insights and discuss how culture matters in forging a new market in the global diffusion of capitalism. © 2008 Springer Science+Business Media B.V.
Persistent Identifierhttp://hdl.handle.net/10722/59828
ISSN
2015 Impact Factor: 1.776
2015 SCImago Journal Rankings: 0.910
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorChan, CSCen_HK
dc.date.accessioned2010-05-31T03:58:13Z-
dc.date.available2010-05-31T03:58:13Z-
dc.date.issued2009en_HK
dc.identifier.citationTheory And Society, 2009, v. 38 n. 3, p. 271-305en_HK
dc.identifier.issn0304-2421en_HK
dc.identifier.urihttp://hdl.handle.net/10722/59828-
dc.description.abstractThis article brings together two different conceptions of culture-a shared meaning system on one hand and a repertoire of strategies on the other-to understand the emergence of a market. Based on ethnographic data, it examines how a Chinese life insurance market is emerging in the presence of incompatible shared values and ideas acting as cultural barriers, and how these cultural barriers shape the formation of the market. The findings reveal a burgeoning Chinese life insurance market despite local cultural logics incompatible with the profit-oriented institutional logic of life insurance. This Chinese market, however, has developed along a different trajectory from what might be expected. It first emerged as a money management, rather than a risk management, market. I argue that the very cultural barriers that compose the local resistance to a new economic practice also necessitate the mobilization of the cultural tool-kit to circumvent this resistance. These dual processes, shared ideas composing the resistance and the cultural tool-kit circumventing the resistance, shape the trajectory and characteristics of an emergent market. I propose a theoretical model specifying the mechanisms through which the two forms of culture interplay to influence the development of the life insurance. I apply this model to extend Zelizer's (1979) insights and discuss how culture matters in forging a new market in the global diffusion of capitalism. © 2008 Springer Science+Business Media B.V.en_HK
dc.languageengen_HK
dc.publisherSpringer Verlag Dordrecht. The Journal's web site is located at http://springerlink.metapress.com/openurl.asp?genre=journal&issn=0304-2421en_HK
dc.relation.ispartofTheory and Societyen_HK
dc.titleCreating a market in the presence of cultural resistance: The case of life insurance in Chinaen_HK
dc.typeArticleen_HK
dc.identifier.emailChan, CSC: cherisch@hku.hken_HK
dc.identifier.authorityChan, CSC=rp00617en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1007/s11186-008-9081-1en_HK
dc.identifier.scopuseid_2-s2.0-64249100204en_HK
dc.identifier.hkuros162349en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-64249100204&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume38en_HK
dc.identifier.issue3en_HK
dc.identifier.spage271en_HK
dc.identifier.epage305en_HK
dc.identifier.eissn1573-7853-
dc.identifier.isiWOS:000264966600003-
dc.publisher.placeNetherlandsen_HK
dc.identifier.scopusauthoridChan, CSC=36005719500en_HK
dc.identifier.citeulike3902007-

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