文章基本信息

标题：The Impact of Attitudes towards Saving, Borrowing and Investment on the Capital Accumulation Process in Kenya: An Application of the Theory of Planned Behavior
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作者：Sifunjo E. Kisaka
期刊名称：Research Journal of Finance and Accounting
印刷版ISSN：2222-1697
出版年度：2014
卷号：5
期号：9
页码：140-151
语种：English
出版社：The International Institute for Science, Technology and Education (IISTE)
摘要：The role of attitudes of the entrepreneurs toward saving, investment and borrowing to invest is an important factor in economic development. This study examined how attitude influences the amount and form of funds saved, borrowed and invested by Micro and Small Entreprises (MSEs) in Kenya. It also examined the instruments used for saving, the sources of finance and how these combine to influence the capital accumulation process and poverty alleviation efforts. A survey of MSEs in Ongata Rongai Township showed that attitudes of MSEs influenced their saving, investing and borrowing behavior. This relationship is positive and significant. The MSEs prefer saving with banks but not Microfinance Institutions (MFIs) and other traditional instruments. The MSEs have a positive attitude toward saving, borrowing and investment. However, they are noncommittal to borrowing from the formal financial system. Those who borrow prefer banks to MFIs. This is attributed to the high interest rates, long procedures for obtaining loans, and the rent seeking behaviour of some officers of the MFIs. The MSEs rely mainly on their savings as a source of finance for investment. Reliance on internal finance means that MSEs must first accumulate savings before investing. Since the amounts saved by most MSEs are small and credit is limited, the amount invested and the returns on investment are also small. Thus the capital accumulation process is long and arduous. This could partly explain why we seem to be loosing the war against poverty in Kenya. Therefore any form of intervention to alleviate poverty through microfinance must seriously consider the attitudes and intentions of those being targeted.
关键词：Attitudes; Micro and Small Entreprises; Intentions; Saving; Investment; Borrowing; Capital Accumulation; Theory of Reasoned Action; Theory of Planned Behavior; Subjective Norms; Beliefs; Significant Others; Intention.