By V. Murinde
This sequence arose out of the assumption that the overseas accounting literature should still dedicate extra realization to the research of the accounting difficulties and problems with rising economies (developing and newly industrialized countries). via an expanding information of the true matters and the accounting practices endorsed in it, those works became suitable to the particular wishes of its readers, and is making actual contributions to the accounting improvement means of rising economies. The volumes provided objective to: increase the extent of curiosity within the particular difficulties of accounting in rising economies; and raise knowledge of actual concerns, in order that accounting in those nations won't simply be obvious as a question of copying what's performed within the industrialized nations. It presents an authoritative review of the examine and development during this box.
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Additional info for Accounting, Banking and Corporate Financial Management in Emerging Economies, Volume 7
The study also reveals that lending processes are influenced by a series of contextual factors, including political interventions, regulations, the culture of cronyism and other complex socio-political and socio-economic factors. 1. INTRODUCTION This paper stems from an interest in lending in small ﬁrms and the role of accounting therein. The development of small ﬁrms has been an essential part of the development strategy in many countries, including developed countries such as Japan, the USA, and the UK (Levitsky, 1987; Nelson, Accounting, Banking and Corporate Financial Management in Emerging Economies Research in Accounting in Emerging Economies, Volume 7, 29–52 Copyright r 2007 by Elsevier Ltd.
An owner of a small ﬁrm revealed, ‘Lenders take too long time in making lending decisions. Once loan is sanctioned, it again takes a long time for disbursement. When they complete disbursement of the loan they think they have ﬁnished their job. They only want return for their invested money, principal and interest on the principal, and do not intend to listen to the problems we face with such wishes to resolve those. 9 The formal appraisal stages in an ideal lending process exhibit lenders’ heavy reliance on ﬁnancial indicators alongside some qualitative indicators.
21). , 20). The strong response in respect of the borrower being an existing businessman or existing customer of the ﬁnancier suggests that new customers or ﬁrst-time borrowers may get less favourable attention in the assessment of loan applications. The responses may also reveal an important aspect of lending behaviour, which can be termed as ‘unofﬁcial relationship’ or ‘personal contact’ between the ﬁnancier and the borrower.