Impact of Fraud on Ghanaian SMEs and Coping Mechanisms

Simple item page
dc.contributor.authorAndoh, C.
dc.contributor.authorQuaye, D.
dc.contributor.authorAkomea-Frimpong, I.
dc.date.accessioned2019-07-18T09:21:29Z
dc.date.available2019-07-18T09:21:29Z
dc.date.issued2018-03
dc.description.abstractPurpose Small and medium-scale enterprises (SMEs) are the engine of growth of most developing countries, as they employ a large number of people as opposed to large firms. Consequently, these enterprises should succeed in expanding to become significant employers and producers. However, what seems obvious at least through cursory observation is that the current state of SMEs betrays an economic loss with respect to the benefits that ought to be forthcoming from their potential. This loss can be triggered by a number of factors. The study determines the drivers of internal fraud and their impact on Ghanaian SMEs and prescribes coping mechanisms. Design/methodology/approach Primary data collected on 250 SMEs collected from various sectors across Accra, the capital of Ghana, are used for this study. Using a cross-sectional regression, the authors identify the key drivers of internal fraud that hamper the growth of Ghanaian SMEs. Findings The regression results show that although several fraud variables impact negatively the growth of the SME sector, it is only accounting fraud which is significant. This study also revealed that stealing, fake currency issued for the payment of goods or service and non-payment of goods or service account for almost 83 per cent of fraud cases experienced by SMEs. Research limitations/implications The study was limited to the SMEs located in the Accra, the capital of Ghana. Practical implications The study will offer SMEs owners methods that will assist in their determination to fight fraud in the business that they manage. Social implications The survival of SMEs is paramount to job creation. Consequently, combating fraud that stifle the growth of SMEs will allow SMEs to grow to their full potential and create more job opportunities for the unemployed. This will minimizes the social vices such as robbery, stealing, drug trafficking and prostitution that confront nations. Originality/value This study should be useful to managers of SMEs, auditors and the security agencies in developing economies in particular, in their quest to combat fraud within SMEs.en_US
dc.identifier.citationCharles Andoh, Daniel Quaye and Isaac Akomea-Frimpong (2018) "Impact of fraud on Ghanaian SMEs and coping mechanisms", Journal of Financial Crime,Vol. 25 No. 2, pp. 400-418en_US
dc.identifier.otherVol. 25 No. 2, pp. 400-418
dc.identifier.otherhttps://doi.org/10.1108/JFC-05-2017-0050
dc.identifier.urihttp://ugspace.ug.edu.gh/handle/123456789/31529
dc.language.isoenen_US
dc.publisherJournal of Financial Crimeen_US
dc.subjectAccounting frauden_US
dc.subjectFraud diamonden_US
dc.subjectInternal frauden_US
dc.subjectRegressionen_US
dc.subjectSmall and medium enterprisesen_US
dc.subjectStratified samplingen_US
dc.titleImpact of Fraud on Ghanaian SMEs and Coping Mechanismsen_US
dc.typeArticleen_US

Files

Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Impact of fraud on Ghanaian SMEs and coping mechanisms.pdf
Size:
357.85 KB
Format:
Adobe Portable Document Format
Description:
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.6 KB
Format:
Item-specific license agreed upon to submission
Description:
Download

Collections

Department of Banking and Finance