African entrepreneurs, financial literacy, debt and bankruptcy
Book chapter
Ekanem, I. 2014. African entrepreneurs, financial literacy, debt and bankruptcy. in: Nwankwo, S. and Ibeh, K. (ed.) The Routledge companion to business in Africa London Routledge. pp. 218-233
Chapter title | African entrepreneurs, financial literacy, debt and bankruptcy |
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Authors | Ekanem, I. |
Abstract | This chapter is concerned with the behaviour of African entrepreneurs and individual towards debt and bankruptcy; and to assess the extent to which their attitudes and behaviour towards debt and bankruptcy are influenced by their cultural and religious practices. The study is based on a qualitative research method involving in-depth, semi-structured interviews and, in some cases, direct observation. The findings suggest that among African entrepreneurs and individuals there are compelling cultural and religious reasons to settle debts and this can lead to a strong desire to resist at all costs the bankruptcy process. The study also revealed a high level of ignorance and a lack of understanding among the Africans of the actions they can take when they find themselves in financial difficulties. The implication of these findings is that financial literacy and pre-bankruptcy counselling can empower this group of consumers and influence competent financial decision making. |
Keywords | African entrepreneurs; bankruptcy; debt; financial literacy; attitudes and behaviour |
Page range | 218-233 |
Book title | The Routledge companion to business in Africa |
Editors | Nwankwo, S. and Ibeh, K. |
Publisher | Routledge |
Place of publication | London |
Series | Routledge Companions in Business, Management and Accounting |
ISBN | |
Hardcover | 9780415635455 |
Publication dates | |
22 Jun 2014 | |
Online | 25 Jul 2014 |
Publication process dates | |
Deposited | 15 May 2015 |
Output status | Published |
Accepted author manuscript | |
Copyright Statement | This is an Accepted Manuscript of a book chapter published by Routledge in The Routledge Companion to Business in Africa on 22/06/2014, available online: http://www.routledge.com/9780415635455 |
Web address (URL) | https://www.taylorfrancis.com/books/e/9780203093146/chapters/10.4324/9780203093146-20 |
Language | English |
https://repository.mdx.ac.uk/item/8555v
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