Influence of meditation on estate planning decisions: evidence from Indian survey data

Financial Innovation

Table 1 Descriptive statistics

	Mean	SD	Min	Med	Max	With MED	Without MED	Compare Mean T-test
EPD	0.00	1.00	−2.32	0.35	1.25	0.08	−0.63	0.71**
EPD1) Proper will decision	3.67	1.15	1	4	5	3.76	2.91	0.85**
EPD2) Power of attorney	3.59	1.14	1	4	5	3.67	2.90	0.77**
EPD3) Beneficiary decision	3.66	1.14	1	4	5	3.75	2.93	0.82**
EPD4) Joint tenancy decision	3.56	1.15	1	4	5	3.65	2.87	0.78**
EPD5)Trustee appointment decision	3.54	1.17	1	4	5	3.62	2.89	0.73**
RB	0.90	0.30	0	1	1	1.00	0.12	0.88**
MED	0.89	0.32	0	1	1
ASSETS	14.66	0.70	13.12	15.07	15.20	14.71	14.29	0.42**
INCOME	13.33	1.39	1.61	13.82	14.91	13.41	12.63	0.78**
MS	0.25	0.43	0	0	1	0.23	0.47	−0.24**
AGE	3.58	0.29	2.89	3.56	4.17	3.60	3.46	0.14**
FAMILY	1.48	0.53	0.00	1.61	2.71	1.52	1.24	0.28**
LOCATION	0.54	0.50	0	1	1	0.54	0.51	0.03
EDUCATION	2.88	1.29	1	3	5	2.92	2.53	0.39**
GENDER	0.66	0.47	0	1	1	0.66	0.68	−0.02

Notes: * p < 0.05 and ** p < 0.01; Variables include estate planning decision (EPD), meditation (MED), assets (ASSETS), income (INCOME), marital status (MS), age (AGE), family size (FAMILY), location (LOCATION), education (EDUCATION), and gender (GENDER). Standard deviation (SD); Minimum (Min); Median (Med); Maximum (Max); and T-test (Compare Mean T-test)