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Herding behaviour and investment decisions of individuals with fraudulent microfinance institutions in Ghana

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dc.contributor.author Abotsi A.K.
dc.contributor.author Richardson T.E.
dc.date.accessioned 2022-10-31T15:05:35Z
dc.date.available 2022-10-31T15:05:35Z
dc.date.issued 2018
dc.identifier.issn 16943597
dc.identifier.uri http://41.74.91.244:8080/handle/123456789/482
dc.description Abotsi, A.K., Department of Economics Education, University of Education, Winneba P. O. Box 25, Winneba, Ghana; Richardson, T.E., Department of Economics Education, University of Education, Winneba P. O. Box 25, Winneba, Ghana en_US
dc.description.abstract Access to credit and financial services of sections of the societies in low-income developing countries has led to the proliferation of genuine and fraudulent microfinance institutions in recent times and this has been the subject of intense interest by researchers. This study explores the sociological and psychological factors that influence investment decisions of individuals with microfinance institutions to maximize their economic wellbeing in spite of the high incidence of atrophy of such institutions and fraud. This is an exploratory research which adopted a descriptive-analytic approach in the analysis. In all 165 respondents were purposively selected from five administrative areas in the Brong Ahafo Region in Ghana. The study found that out of the total respondents of 165 who ever engaged in business with microfinance institutions, 119 of them have ever been swindled by microfinance institution. The respondents exhibited herding behaviour in their investment decisions with these fraudulent microfinance institutions. These fraudulent microfinance institutions used interest rate as a conduit to deceive and lure people to save with them. The respondents used bounded rationality in their investment decisions which resulted in the bad investment with these fraudulent microfinance institutions. � International Conference on Multidisciplinary Research.All right reserved. en_US
dc.publisher Society for Research and Knowledge Management en_US
dc.subject Bounded rationality en_US
dc.subject Fraudulent microfinance en_US
dc.subject Herding behaviour en_US
dc.subject Investment decision en_US
dc.title Herding behaviour and investment decisions of individuals with fraudulent microfinance institutions in Ghana en_US
dc.type Conference Paper en_US


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