Difference between catholics and protestants VideoDifference Between Catholics and Protestants -- Catholicism Vs Protestantism
Difference between catholics and protestants - youCatholicism and Protestantism are two major basic denominations in Christianity. Although there are three major groups that divide Christianity and Christians into three sects that include these two and the third minor one that is Orthodoxy. Catholic or Catholicism is a kind of major sect in Christianity; it is based upon the teaching of traditional Roman Catholic Church. Whereas on the other hand Protestant or Protestantism is moreover a reformed sect of Christianity that obliges reformed teachings rather than the traditional teachings of Roman Catholic Church. Catholic or Catholicism refers towards the denomination of majority of Christians and their belief in the teachings of traditional Roman Catholic Church. Although there are other two major sects too in the Christianity that contradict the beliefs and teachings of Roman Catholic Church. That is Protestant and Orthodoxy. Catholicism is not a kind of sect as it is a developed form of Christianity but based upon the teachings of Roman Catholic Church. difference between catholics and protestants
We empirically examine the effect of local religious beliefs on the risk-taking behaviour of U. We distinguish between insurers that predominantly write annuities and insurers that predominantly write life insurance policies; the annuity business is relatively riskier than writing life insurance.
Insurers headquartered in high -Catholic or low -Protestant areas are more likely to be cifference writers. Annuity writers located in high -Catholic or difference between catholics and protestants -Protestant areas invest more in risky assets and exhibit higher investment return volatilities, as well as a higher volatility of their return on assets.
How much risk an insurance company takes directly impacts the quality of its products from the point of view of its clients Epermanis and Harrington ; Eling and Schmit Fields et al. Another growing body of literature focuses on behavioural or cultural aspects of business decisions.
While most behavioural biases and local cultures are dfference to observe and measure, religious beliefs can be captured with a relatively simple measure: affiliation with a church. Hence, a number of studies empirically examine the effects of local religious beliefs on business decisions of firms headquartered in that region.
There is evidence that local religious beliefs indeed impact corporate investments e. Hilary and Hui ; Kumar et al.
However, limited evidence exists on the behavioural or cultural aspects of risk-taking decisions in financial institutions in general and insurance companies in particular. Footnote 1.
To answer this question, we focus on local religious beliefs, for which we can obtain a quantifiable measure. Since there are substantial differences between the different segments of the insurance industry, we focus on life insurance companies in our analysis. We view risk-taking of life insurance companies as an important research question for the following reasons. First, life insurance companies rely on investment income to fund life insurance payouts and annuity benefits. Excessive investment risk-taking and resulting investment difference between catholics and protestants during capital market downturns can lead life insurance companies into financial distress.]