Financial entrepreneurship for economic growth in emerging nations

Financial Entrepreneurship for Economic Growth in Emerging Nations Atsede Woldie University of South Wales, UK Brychan Thomas University of South Wales, UK A volume in the Advances in Finance, Accounting, and Economics (AFAE) Book Series Published in the United States of America by IGI Global Business Science Reference (an imprint of IGI Global) 701 E Chocolate Avenue Hershey PA, USA 17033 Tel: 717-533-8845 Fax: 717-533-8661 E-mail: cust@igi-global.com Web site: http://www.igi-global.com Copyright © 2018 by IGI Global All rights reserved No part of this publication may be reproduced, stored or distributed in any form or by any means, electronic or mechanical, including photocopying, without written permission from the publisher Product or company names used in this set are for identification purposes only Inclusion of the names of the products or companies does not indicate a claim of ownership by IGI Global of the trademark or registered trademark Library of Congress Cataloging-in-Publication Data Names: Woldie, Atsede, editor | Thomas, Brychan, 1955- editor Title: Financial entrepreneurship for economic growth in emerging nations / Atsede Woldie and Brychan Thomas, editors Description: Hershey, PA : Business Science Reference, [2018] Identifiers: LCCN 2017008335| ISBN 9781522527008 (hardcover) | ISBN 9781522527015 (ebook) Subjects: LCSH: Small business Developing countries Finance | Business enterprises Developing countries Finance | Investments, Foreign Developing countries Classification: LCC HG4027.7 F5545 2018 | DDC 338.6/041091724 dc23 LC record available at https://lccn.loc gov/2017008335 This book is published in the IGI Global book series Advances in Finance, Accounting, and Economics (AFAE) (ISSN: 2327-5677; eISSN: 2327-5685) British Cataloguing in Publication Data A Cataloguing in Publication record for this book is available from the British Library All work contributed to this book is new, previously-unpublished material The views expressed in this book are those of the authors, but not necessarily of the publisher For electronic access to this publication, please contact: eresources@igi-global.com. 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Ariwa, University of Bedfordshire, UK Hugh Coombs, University of South Wales, UK Hatem El-Gohary, Birmingham City University, UK & Cairo University, Egypt Paul Jones, Coventry University, UK Nelson Oly Ndubisi, Griffith University, Australia Sonny Nwankwo, University of East London, UK Gary Packham, Anglia Ruskin University, UK Zakiah Saleh, University of Malaya, Malaysia Jarunee Wonglimpiyarat, Thammasat University, Thailand List of Reviewers Abdul-Fatahi Abdulai, Cardiff Metropolitan University, UK Ahmed Abdullah, University of South Wales, UK Khushnood Anwar, University of South Wales, UK Liang Han, Shihezi University, China Kijpokin Kasemsap, Suan Sunandha Rajabhat University, Thailand Lyndon Murphy, Cardiff Metropolitan University, UK Tulus Tambunan, Trisakti University, Indonesia  Table of Contents Preface xiv Acknowledgment xvii Section Financial Entrepreneurship: The Contexts Chapter Financial Entrepreneurship in Three Emerging Economies: A Comparative Study of Ghana, Pakistan, and Yemen Lyndon Murphy, Cardiff Metropolitan University, UK Abdul-Fatahi Abdulai, Cardiff Metropolitan University, UK Khushnood Anwar, University of South Wales, UK Ahmed Abdullah, University of South Wales, UK Brychan Celfyn Thomas, University of South Wales, UK Chapter Emerging Economies and Financing of SMEs 22 Liang Han, Shihezi University, China & University of Reading, UK Xin Xiang, University of Reading, UK Xingquan Yang, Shihezi University, China Chapter The Influence of Specific Criteria of Emerging Markets on SME Financing in MENA Markets 46 Wafa Snoussi, High Institute of Management, Tunisia Azza Béjaoui, Faculty of Economic Sciences and Management Sousse, Tunisia Chapter A Comparative Study of Financing Innovation Capacity for Romanian SMEs in a Global  Economy 69 Ionica Oncioiu, Titu Maiorescu University, Romania Ioana Duca, Titu Maiorescu University, Romania Mirela Anca Postole, Titu Maiorescu University, Romania Marilena Ciobanasu, Titu Maiorescu University, Romania    Section Financing SMEs in Different Emerging Nations Chapter The Qualitative Relationship Between Banks and SMEs in Wales 86 Atsede Woldie, University of South Wales, UK Hooman Hagshenas, University of South Wales, UK Brychan Celfyn Thomas, University of South Wales, UK Chapter Problems Financing Small Business Enterprises in the Current Economic, Business, and Organizational Environment in Nigeria: With Recommendations for Future Support Initiatives 111 Iheanyi Chuku Egbuta, University of South Wales, UK Laguo Livingstone Gilbert, University of South Wales, UK Chapter The Effectiveness of Financing the Marketing of Small and Medium-Sized Enterprises in Qatar and the Gulf Co-Operation Council (GCC) Countries: With a Special Focus on Advertising 129 Mohammed Al-Marri, Qatar Telecom, Qatar Said Al-Hasan, University of South Wales, UK Chapter MSMEs and Access to Financing in a Developing Economy: The Indonesian Experience 148 Tulus T H Tambunan, University of Trisakti, Indonesia Section Microfinance in Emerging Nations Chapter Exploring the Role of Microfinance in Emerging Nations 174 Kijpokin Kasemsap, Suan Sunandha Rajabhat University, Thailand Chapter 10 Micro-Finance and Poverty in India: A State-Level Analysis of Impact Assessment 194 Shromona Ganguly, Indian Institute of Management Calcutta, India & Reserve Bank of India, India Chapter 11 Access to Finance: Developing Microinsurance Market in Turkey 217 İsmail Yıldırım, Hitit University, Turkey  Chapter 12 Small and Medium Enterprises’ Challenges of Accessing Microfinance in Nigeria 229 Atsede Woldie, University of South Wales, UK Uruemuesiri Ubrurhe, University of South Wales, UK Compilation of References 254 About the Contributors 297 Index 302 Detailed Table of Contents Preface xiv Acknowledgment xvii Section Financial Entrepreneurship: The Contexts Chapter Financial Entrepreneurship in Three Emerging Economies: A Comparative Study of Ghana, Pakistan, and Yemen Lyndon Murphy, Cardiff Metropolitan University, UK Abdul-Fatahi Abdulai, Cardiff Metropolitan University, UK Khushnood Anwar, University of South Wales, UK Ahmed Abdullah, University of South Wales, UK Brychan Celfyn Thomas, University of South Wales, UK This chapter compiles an up-to-date and academically grounded study on enterprise financing in the emerging economies of Ghana, Pakistan and Yemen in terms of global dynamics The research question addressed ‘what is the nature of financial entrepreneurship in the three countries of Ghana, Pakistan and Yemen as emerging economies’ The methodology used is a comparative study of the three countries involving an investigation of the economic background, financial bodies, enterprises, and funding SMEs to determine the nature of financial entrepreneurship in the three countries as emerging economies In response to the research question it was found that financial bodies have an important influence on enterprises especially in terms of the way SMEs are funded From the findings of the comparative study a fundamental model was developed as the main contribution to knowledge concerning the financing of SMEs in emerging economies taking into account important financial aspects, the process of entrepreneurship and the significant outputs of SME activities and growth  ... of financial entrepreneurship and its importance in the three emerging economies  Financial Entrepreneurship in Three Emerging Economies The research set out to obtain an understanding of financial. .. enterprise financing, small business finance and international financing of SMEs (Paravisini, 2008) The scholarly value of a chapter in the area of financial entrepreneurship in emerging economies... Understanding these changes as well as the factors that influence them is crucial in preparing for our financial future and ensuring economic sustainability and growth The Advances in Finance, Accounting,