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Exploring and Ranking Factors Affecting Currency Counterfeiting Using Factor Analysis and Regression

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  • Akanksha Upadhyaya

    (Amity University, Noida, (RDIAS), India)

  • Vinod Shokeen

    (Amity University, Noida, India)

  • Garima Srivastava

    (KNMIET, Ghaziabad, India)

Abstract

Currency counterfeiting is a serious matter of concern for government and national finance organizations. The policy makers have formed a zero tolerance policy for counterfeiting, but still the incidence of counterfeit notes is becoming an alarming situation. The counterfeited banknotes reduce the value of real money and an increase in the money supply is not just a solution, because it leads to inflation. Counterfeiting poses tangible as well as intangible impacts and affects business organizations and thereby a nation's economy. Therefore, the research study aims to identify the factors that affects the counterfeiting in Indian banknotes. Questionnaire as a data collection instrument was used to collect data from the north-west region of Delhi. The factors were then identified through exploratory factor analysis and standardized using a confirmatory factor analysis. At last, the relative effect of each factor was measured using multiple regression analysis as a part of confirmatory factor analysis. IBM SPSS 20 and IBM AMOS is used for factor analysis.

Suggested Citation

  • Akanksha Upadhyaya & Vinod Shokeen & Garima Srivastava, 2019. "Exploring and Ranking Factors Affecting Currency Counterfeiting Using Factor Analysis and Regression," International Journal of Business Analytics (IJBAN), IGI Global, vol. 6(2), pages 91-107, April.
    • Handle: RePEc:igg:jban00:v:6:y:2019:i:2:p:91-107
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