Effects of Multiple Risks on Farm Income and Willingness to Pay for Agricultural Insurance: A Case Study of the Greater Accra Region in Ghana

Quaye, Frederick Murdoch

doi:10.5539/ijef.v8n6p1

Cited by 4 publications

(1 citation statement)

References 10 publications

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“…Financial management comprises preparing, organising, guiding, and managing financial operations, including business funding acquisition and use (Quaye and Sarbah, 2014). Research conducted in KwaZulu-Natal by Erasmus Beyers (2015) discovered that most SMBs lacked the expertise in financial management required to perform correctly and realise their entire potential regarding competitiveness and development.…”

Section: Literature Reviewmentioning

confidence: 99%

Financial management engagement and small and medium-sized businesses in eThekwini municipality, South Africa

Aliamutu,

Mkhize

2024

Econ. manag. sustain.

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Small and medium-sized businesses are widely recognised as the cornerstone of growth in emerging and middle-class countries, and South Africa is no different. They generate many job possibilities and salaries for many individuals who live in cities, making them an essential component of average national production. The main objective of the research was to examine the level to which Small and Medium-sized businesses in the eThekwini Municipality used financial management. The research project used a quantitative method to collect and analyse data from the field. The survey included 60 participants from various small and medium-sized businesses in eThekwini. Proprietors and managers of small and medium-sized businesses were among those who responded. The rate at which organisations implement systems that effectively organise their money was a crucial component in analysing the financial management engagements of small and medium-sized businesses. This can be assessed in various ways, including distributing closed-ended surveys to responders. As a result, the proprietors of small and medium-sized businesses were prompted to score their companies based on the level to which financial preparation strategies were implemented and the funding sources. The research found that small and medium-sized businesses in the research areas did not develop long-term financial strategies that included investments in non-current assets, shares, stocks, and real estate initiatives. Small and medium-sized businesses must establish trustworthy systems for accounting information, disclose and analyse their financial challenges regularly, and advocate for laws that make it simpler for small and medium-sized businesses to obtain inexpensive financing. Since small and medium-sized businesses are recognised as contributing significantly to national economic growth, they must keep growing.

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Section: Literature Reviewmentioning

confidence: 99%

Financial management engagement and small and medium-sized businesses in eThekwini municipality, South Africa

Aliamutu,

Mkhize

2024

Econ. manag. sustain.

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Effects of social interactions and information bias on the willingness to pay for transboundary basin ecosystem services

Shi

et al. 2021

Journal of Environmental Management

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Ownership of Cash Value Life Insurance among Rural Households: Utilization of Machine Learning Algorithms to Find Predictors

Heo,

Kwak,

Grable

et al. 2024

Mathematics

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This study examines the determinants of life insurance ownership with a focus on rural areas and farming households in the United States. Utilizing data from online surveys conducted in 2019 and 2021, this paper explores how psychological factors, financial knowledge, and household characteristics influence life insurance ownership. Traditional indicators like wealth, income, and age were evaluated alongside less frequently discussed variables such as farm loans and rural residency. Machine learning techniques, including neural networks, Support Vector Machine modeling, Gradient Boosting, and logistic regression, were employed to identify the most robust predictors of life insurance demand. The findings reveal that farming-associated factors, particularly holding a farm loan and living in a farming household, significantly predict life insurance ownership. The study also highlights the complexity of life insurance demand, showing that financial education and management practices are critical determinants. This research underscores the need for tailored financial risk management strategies for rural and farming households and contributes to a nuanced understanding of life insurance demand in varying contexts.

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Effects of Multiple Risks on Farm Income and Willingness to Pay for Agricultural Insurance: A Case Study of the Greater Accra Region in Ghana

Cited by 4 publications

References 10 publications

Financial management engagement and small and medium-sized businesses in eThekwini municipality, South Africa

Financial management engagement and small and medium-sized businesses in eThekwini municipality, South Africa

Effects of social interactions and information bias on the willingness to pay for transboundary basin ecosystem services

Ownership of Cash Value Life Insurance among Rural Households: Utilization of Machine Learning Algorithms to Find Predictors

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