The Nexus Between Financial Education and Entrepreneurship Development in Osun State

Iriobe, Ofunre; Iriobe, Grace

doi:10.2139/ssrn.3414455

Cited by 3 publications

(8 citation statements)

References 0 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…(Eniola & Entebang, 2017) they stated that resources that have high literacy can improve performance and growth for MSMEs. Research (Geriadi et al, 2021;Iriobe, O., & Iriobe, G., 2017) stated that financial literacy affects the MSME's development, as well (Idawati & Pratama, 2020;Rusliana et al, 2023) determined that financial literacy significantly affects MSMEs' performance and sustainability.…”

Section: Theoretical Reviewmentioning

confidence: 99%

The Triple Pillar Of MSMEs Development: Financial Literacy, Inclusion, And Financial Management

Herdiyanti,

Yuniarti,

Apriyanto

2024

View full text Add to dashboard Cite

This research aims to present empirical data demonstrating how financial management mediates the relationship between financial inclusion and financial literacy on the MSMEs' development. This particular type of research takes the form of explanatory research with the population of MSME actors in the environment-based tourism village of Sanankerto, Malang Regency. The study sample amounted to 125 taken through the purposive sampling method. Primary data from questionnaire findings given to respondents directly make up the utilized data. Data analysis in the form of PLS-SEM results indicates that financial management is positively impacted by financial literacy and financial inclusion and that these factors positively impact the MSMEs' development. It was also shown that financial management can mediate between financial inclusion and financial literacy in the MSME's development.

show abstract

Section: Theoretical Reviewmentioning

confidence: 99%

The Triple Pillar Of MSMEs Development: Financial Literacy, Inclusion, And Financial Management

Herdiyanti,

Yuniarti,

Apriyanto

2024

View full text Add to dashboard Cite

show abstract

“…As indicated by Ameliawati & Setiyani (2018), a financial attitude has a more significant impact on entrepreneurs' financial literacy when compared with other financial literacy variables. Iriobe et al (2017) posited that the money attitude of entrepreneurs positively affects their level of financial literacy. It is one of the components that positively impact the financial management of business organizations (Esiebugie, 2018).…”

Section: Competency Theorymentioning

confidence: 99%

Financial Literacy and Financial Performance of Micro, Small and Medium Enterprises in Lagos City, Nigeria

John¹

2022

theijbm

View full text Add to dashboard Cite

Micro, small, and medium-sized enterprises' (MSMEs') financial literacy and performance are critical to their overall survival in a competitive business environment. The study addressed the following specific objectives: To determine the level of financial literacy of MSME entrepreneurs; To determine the financial performance of MSMEs; To determine the relationship between financial literacy and financial performance, and To determine the problems encountered by MSMEs entrepreneurs in the management of their businesses The study was guided by the upper echelon theory and competency theory. The study adopted a descriptive-correlational research design in which a total sample of 100 MSMEs was conveniently selected inside Alaba International Market, Lagos City, Nigeria. Questionnaires were administered as the main data collection tool, which included estimates of the MSME financial statements such as profitability, liquidity, and leverage for the years of 2017, 2018, and 2019. An inferential statistical tool, such as correlation analysis, was applied to test the relationship between the two main variables.The study found that the majority of the entrepreneurs had appropriate levels of knowledge, behavior, and attitude in managing their business finances but were inconsistent in putting these concepts into practice while making decisions that affected their business operations. The study also found that the MSMEs for the three-year periods assessed were not profitable due to low sales, insufficient support from stakeholders had low liquidity due to poor sales and lack of cash flow management, and incurred more debts that were diverted to other activities that did not add value to their business operations. The null hypothesis was rejected, implying that financial literacy had a significant and positive effect on the financial performance of MSMEs. Moreover, poor access to bank financing was found to be the major problem impeding the expansion and growth of MSMEs in the study area. As a result, the study concluded that the proposed recommendations would serve as the foundation for addressing the issues raised in the study, thereby assisting MSMEs in improving their financial literacy and business performance in the long run.

show abstract

“…Financial literacy is a set of skills and knowledge that enables individuals to make appropriate business decisions (Iriobe et al. , 2017).…”

Section: Introductionmentioning

confidence: 99%

“…Financial literacy is a set of skills and knowledge that enables individuals to make appropriate business decisions (Iriobe et al, 2017). The success of entrepreneurs to access necessary finance has a positive influence on national economic growth (Kim et al, 2018).…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Financial inclusion – does digital financial literacy matter for women entrepreneurs?

Hasan

Ashfaq

Parveen

et al. 2022

IJSE

View full text Add to dashboard Cite

PurposeWomen's financial inclusion has become a global research agenda, and past studies provide mixed evidence on the determinants of financial inclusion among women entrepreneurs across the globe. However, the impact of digital financial literacy on women's financial inclusion has seldom been addressed in the past literature.Design/methodology/approachThe authors perform a cross-sectional analysis of 144 countries using the World Bank Global Findex Database.FindingsThis study’s probabilistic regression results indicate that women entrepreneurs with a higher degree of digital financial literacy are more likely to engage in formal banking channels.Practical implicationsThe study findings have practical implications in terms of allowing regulators and banks to draw effective policies to attract women customers. Lack of effective regulatory intervention could lead to women exploring financial crimes, such as money laundering, due to their lack of involvement with the formal banking channel.Originality/valueThe authors explore the impact of digital financial literacy on women's financial inclusion. Such evidence is rare in the existing literature.Peer reviewThe peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-04-2022-0277

show abstract

The Nexus Between Financial Education and Entrepreneurship Development in Osun State

Cited by 3 publications

References 0 publications

The Triple Pillar Of MSMEs Development: Financial Literacy, Inclusion, And Financial Management

The Triple Pillar Of MSMEs Development: Financial Literacy, Inclusion, And Financial Management

Financial Literacy and Financial Performance of Micro, Small and Medium Enterprises in Lagos City, Nigeria

Financial inclusion – does digital financial literacy matter for women entrepreneurs?

Contact Info

Product

Resources

About