Moderating role of social capital on the effect of financial behavior on financial inclusion
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Received February 28, 2021;Accepted June 14, 2021;Published September 28, 2021
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Author(s)Chike Onodugo ,Link to ORCID Index: https://orcid.org/0000-0002-4462-1293
, Anastasia Ogbo ,
Link to ORCID Index: https://orcid.org/0000-0002-4994-8199, Charles Ogbaekirigwe
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DOIhttp://dx.doi.org/10.21511/ppm.19(3).2021.41
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Article InfoVolume 19 2021, Issue #3, pp. 502-512
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Cited by1 articlesJournal title:Article title:DOI:Volume: / Issue: / First page: / Year:Contributors:
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The need for improved institutional interventions aimed at increasing access to financial services by small and medium enterprises (SMEs) has been emphasized. Complimenting these efforts, this study proposes that building social networks capable of informing requisite financial behaviors would facilitate the financial inclusion of SMEs co-existing in business clusters. This study aimed to empirically test the moderating influence of collective action, bonding, trust, and bridging on the effect of financial behavior on financial inclusion. Using a sample of 311 owners/managers of small and medium scale businesses in sub-urban clusters in South-Eastern Nigeria, the hierarchical moderated regression analysis was used to test the hypotheses of the study. Results show a positive main effect of financial behavior on financial inclusion
(βf = 0.162; t (304) = 1.503; p < 0.05). Also, collective action (βfca = 0.201; t (304) = 6.906; p < 0.05) and bridging (βfbr = 0.201; t (304) = 6.906; p < 0.05) had positive moderating effects, bonding (βfb = 0.032; t (304) = 1.423; p > 0.05) and trust (βft = 0.014; t (304) = 0.9609; p > 0.05) were statistically insignificant. For policy implications, social virtues such as bridging and collective action are more veritable tools for financial inclusion than the personal virtues of trust and bonding and should be factored into economic and social intervention being deployed by institutions interested in meeting the banking/financial needs of businesses.
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JEL Classification (Paper profile tab)M10, G53, M14
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References50
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Tables2
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Figures2
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- Figures 1. Simple slope for the statistically significant moderating role of collective action
- Figures 2. Simple slope for the statistically significant moderating role of bridging
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- Table 1. Means, Cronbach’s alpha, and zero-order correlations
- Table 2. Results on the main and moderating effects
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Conceptualization
Chike Onodugo, Ifeoma Onodugo, Anastasia Ogbo, Henry Okwo
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Data curation
Chike Onodugo, Ifeoma Onodugo, Anastasia Ogbo, Henry Okwo, Charles Ogbaekirigwe
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Formal Analysis
Chike Onodugo, Ifeoma Onodugo, Anastasia Ogbo, Henry Okwo, Charles Ogbaekirigwe
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Investigation
Chike Onodugo, Ifeoma Onodugo, Henry Okwo
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Project administration
Chike Onodugo, Ifeoma Onodugo, Anastasia Ogbo, Henry Okwo, Charles Ogbaekirigwe
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Methodology
Chike Onodugo, Ifeoma Onodugo, Anastasia Ogbo, Henry Okwo, Charles Ogbaekirigwe
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Software
Chike Onodugo, Anastasia Ogbo, Henry Okwo, Charles Ogbaekirigwe
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Supervision
Chike Onodugo, Ifeoma Onodugo, Anastasia Ogbo
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Writing – original draft
Chike Onodugo, Ifeoma Onodugo, Henry Okwo
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Writing – review & editing
Chike Onodugo, Ifeoma Onodugo, Anastasia Ogbo, Charles Ogbaekirigwe
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Validation
Ifeoma Onodugo, Anastasia Ogbo
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Funding acquisition
Anastasia Ogbo, Charles Ogbaekirigwe
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Conceptualization
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Corporate governance and financial performance: an empirical analysis of selected multinational firms in Nigeria
Gideon Tayo Akinleye , Odunayo Olarewaju, Bamikole Samson Fajuyagbe doi: http://dx.doi.org/10.21511/ppm.17(1).2019.02
Problems and Perspectives in Management Volume 17, 2019 Issue #1 pp. 11-18 Views: 2684 Downloads: 381 TO CITE АНОТАЦІЯThis study focused on corporate governance and performance of selected Nigerian multinational firms from 2012 to 2016. Specifically, the study focused on the effect of board size, activism and committee activism on return on asset and firm growth rate. Secondary data collected from four multinational firms were analyzed via static panel estimation techniques. While board size and board activism exerted significant negative impact on return on asset, committee activism exerted insignificant impact. The results of the study further showed that board size and board activism exert insignificant negative impact on firm’s growth rate, while committee activism insignificantly spurs firm’s growth rate. Decisively, discoveries from this study reflect that corporate governance has significant negative impact on return on asset, but has insignificant influence on the growth rate of Nigerian multinational firms. Based on these findings, the authors recommended that corporate governance dynamics in firms world over should be reconsidered, such that it gives credence to more than just numbers of persons or meetings held, but the main reasons and deliberations in such meetings. It was also recommended that excessive increase in magnitude or frequency of meetings held by board of directors cum committee should be avoided.
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Measuring the inclusiveness of international financing to tourism in Latin America and the Caribbean
Isabel Carrillo-Hidalgo, Juan Ignacio Pulido-Fernández
doi: http://dx.doi.org/10.21511/imfi.15(3).2018.02
Investment Management and Financial Innovations Volume 15, 2018 Issue #3 pp. 15-34 Views: 1974 Downloads: 152 TO CITE АНОТАЦІЯGlobally, tourism has been identified as a means of poverty reduction and development, and as a means of encouragement of females, minorities and small businesses to better engage in the mainstream of economic life. This paper examines whether the international and governmental financial support, grated by international financial institutions, is effectively achieving these aims in Latin America and the Caribbean. A series of indices are established in the paper that assess the extent to which such funding includes non-corporate enterprise while also considering the volume and nature of such funding. It is concluded that the goals of inclusiveness are not being met.
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The role of financial inclusion in financial stability: lesson from Jordan
Banks and Bank Systems Volume 13, 2018 Issue #4 pp. 31-39 Views: 1542 Downloads: 243 TO CITE АНОТАЦІЯThis study aims to examine the relationship between financial inclusion and financial stability in Jordan by using Fully Modified Least Squares (FMOLS) technique. The analysis is based on time series from 2006 to 2017. Jordanian financial inclusion index is developed to assess the level of financial inclusion, whereas financial stability was measured by Jordanian financial stability index proposed by Central Bank of Jordan. The results show a weak significant and positive impact of financial inclusion on the financial stability in Jordan. Additionally, five control variables are used in the study. The results show a negative impact of domestic credit to private sector, income inequality, financial integration, and global financial crisis on financial stability. In contrast, real GDP per capita has a significant and positive impact. It is expected that the findings of the study can be used by policy makers and supervising authorities to realize the objectives of the national strategy of financial inclusion in Jordan.