scholarly journals Financial literacy and self employment – The moderating effect of gender and race

2022 ◽  
Vol 139 ◽  
pp. 639-653
Author(s):  
Elisabeth M. Struckell ◽  
Pankaj C. Patel ◽  
Divesh Ojha ◽  
Pejvak Oghazi
Keyword(s):  
Financial Literacy ◽  
Moderating Effect ◽  
Gender And Race ◽  
Self Employment

The Impact of Financial Literacy on Financial Preparedness for Retirement in the Small and Medium Enterprises Sector in Uganda

2020 ◽  
Vol 9 (3) ◽  
pp. 26-41
Author(s):  
Colin Agabalinda ◽  
Alain Vilard Ndi Isoh
Keyword(s):  
Financial Literacy ◽  
Small And Medium Enterprises ◽  
Group Analysis ◽  
Moderating Effect ◽  
Primary Data ◽  
Retirement Preparedness ◽  
Medium Enterprises ◽  
The Impact ◽  
The Relationship ◽  
Effect Of Age

The study investigated the direct effects of financial literacy (knowledge, skills, and attitudes) on financial preparedness for retirement and the moderating effect of age among the small and medium enterprises in Uganda. Primary data was collected from a sample of n = 380 selected from the SME workforce. Descriptive analysis was run on SPSS, while validity and reliability of the measurement items yielded satisfactory composite reliability scores and average variance explained (AVE) scores for all items. Structural equation modelling (SEM) was used to test the hypotheses and multi-group analysis conducted to test for the moderating effect of age on the relationship between financial literacy and retirement preparedness. The results revealed that knowledge and skills were significant predictors of retirement preparedness. However, ‘attitude' was not a significant predictor, and age had no moderating effect on the relationship between the study variables. These findings present practical implications for policymakers and financial educators in a developing country context.

scholarly journals Financial Literacy and Self‐Employment

2018 ◽  
Vol 53 (2) ◽  
pp. 455-487 ◽  
Author(s):  
Aida Ćumurović ◽  
Walter Hyll
Keyword(s):  
Financial Literacy ◽  
Self Employment

scholarly journals Involvement in the organized market of such forms of self employment in rural areas as personal subsidiary farms of citizens

2021 ◽  
Vol 0 (13) ◽  
pp. 31-37
Author(s):  
Ekaterina Kot ◽  
Tat'yana Zyryanova ◽  
Sergey Zyryanov
Keyword(s):  
Rural Areas ◽  
Financial Literacy ◽  
Theoretical Research ◽  
Practical Significance ◽  
Federal Law ◽  
Strategic Development ◽  
Axiomatic Analysis ◽  
Self Employment ◽  
Deductive Method ◽  
The Law

Abstract. Within the framework of a set of measures for the implementation of the national project on small and medium-sized enterprises and support for individual entrepreneurial initiative in accordance with the Decree of the President of the Russian Federation on national goals and strategic development tasks, the importance of involving citizens in independent production activities is reflected. In this regard, Federal Law No. 422-FL of 27 November 2018 (hereinafter referred to as the Law) initiated a tax experiment to establish a new special tax regime “Tax on Professional Income” (hereinafter referred to as the TPI). The purpose of the study is to determine the economic impact of the new tool on the involvement in economic turnover of such a form of self-employment in rural areas as personal subsidiary farms of citizens. Tasks: 1) using the deductive method of theoretical research to analyze the effect of the experiment on the application of the new special tax regime on the territory of Russia; 2) to consider in practical situations the options for applying the TPI for self-employed citizens; 3) systematize data on the calculation of naps in the form of a model that has theoretical and practical significance for the involvement of private subsidiary farms (hereinafter referred to as PSF) in an organized market. Research methods: deduction, axiomatic, analysis, synthesis, comparison, experiment, measurement. The scientific novelty and results is that according to the Law, a new target group is allocated – self-employed citizens who indicate services in different fields of activity. In agriculture, it is also necessary to direct the activities of PSF that sell their own products to an organized market. Results. In order to help improve financial literacy with the support of self-employed entrepreneurs, a comparative analysis of deductions for the calculation of professional income tax was conducted. Algorithms for calculating naps have been developed, which are the basis for considering practical situations. A model has been compiled that systematizes the procedure for applying the TPI for self-employed citizens.

Defining the Area of Knowledge for Financial Literacy: The Influence of Financial Courses on Materialism

2021 ◽  
Vol 12 (3) ◽  
pp. 573-581
Author(s):  
Rosmini Ismail Et.al
Keyword(s):  
Financial Literacy ◽  
Moderating Effect ◽  
Moderator Variables ◽  
Credit Hours ◽  
Accounting Courses ◽  
Attitude Scales ◽  
Debt Crises ◽  
Money Attitude ◽  
Materialistic Values ◽  
Business Undergraduates

Numerous studies have foundthatfinancial literacy may assist in averting irresponsible spending that linked to materialistic values. However, the area of knowledge that delivers financial literacy varies among studies. The study determines whether credit hours of financial courses,namely, economics, finance and accounting, affect materialism. Consequently, three moderator variables namely gender, year of study and financial sponsorship, were added into the analysis. A survey was conducted on 1022 business undergraduates in Universiti Pendidikan Sultan Idris using money attitude scales as a proxy to measure materialism. Findings indicate that there werenodirectcorrelations between credithoursof financial courses cumulatively or individually, with materialism scores. However, when the year of studyvariable,specifically fourth-year students category, wasinserted as a moderating effect, all three financial courses credit hours were found to be negatively correlatedwith materialism score. The findings demonstrate that accounting courses credit hours affect all materialism dimensions. Meanwhile, three and two materialism dimensions negatively correlated with economic and finance courses, respectively. It indicates that final year students materialistic values lessen as particular financial courses credit hours increased. The findings may provide input to financial literacy modules to mitigateyoung-executive debt crises.

Impact of Financial Attitude, Financial Literacy and Parental Financial Socialization on Prudent Financial Management Practices: A Moderating Effect of Financial Well-Being among the Youth of Pakistan

2021 ◽  
pp. 14-33
Author(s):  
Syed Hamza Farooq ◽  
Syed Zulfiqar Ali Shah ◽  
Shahid Rasheed
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Management Practices ◽  
Well Being ◽  
Moderating Effect ◽  
Financial Socialization ◽  
Market Place ◽  
Online Questionnaire ◽  
Parental Financial Socialization ◽  
The Right

This study intends to explore the effect of Financial Attitude, Financial Literacy, and ParentalFinancial Socialization on the prudent financial management practices, amid the youth of Pakistan with moderating effect of Financial Well-Being. The population consist over the youth of Pakistan for which the data was collected through an online questionnaire. The study adopted the quantitative approach for which the data from 450 respondents was collected. Subsequently, the data was analyzed with the help of Smart PLS. The results indicated that Parental Financial Socialization, Financial Attitude, and Financial Literacy have a significant and positive relationship with Prudent Financial Management Practices. However, Financial Well-Being does not have significant moderating effect with Parental Financial Socialization, Financial Literacy, and FinancialAttitude. The results further highlighted serious concerns of the effectiveness of Financial Well-Being towards improving youth capabilities in managing their financial affairs in the marketprudently. It shows that challenges faced by the youth in the country market to strengthen thefinancial well-being of an individual by guiding them thoroughly, enhance the effectiveness, andencompass the right elements pertains to financial well-being to ensure today's young Pakistaniability to apply that in the real market place and have full financial freedom Keywords: Financial Attitude, Parental Financial Socialization, Financial Literacy, Prudent FinancialManagement Practices, Financial Well-Being

scholarly journals Understanding Determinants of Individual Intention to Invest in Digital Risky Investment

2019 ◽  
Vol 10 (1) ◽  
pp. 124-137
Author(s):  
Willy Abdillah ◽  
Rika Permatasari ◽  
Ernie Hendrawaty
Keyword(s):  
Emotional Intelligence ◽  
Locus Of Control ◽  
Risk Aversion ◽  
Financial Literacy ◽  
Moderating Effect ◽  
Partial Least Square ◽  
Least Square ◽  
Online Questionnaire ◽  
Risky Investment ◽  
Negative Effect

This study examines the effect of emotional intelligence, the locus of control, and risk aversion on intention to risky investment with financial literacy as moderating effect. This study uses 98 investors distributed by online questionnaire. Data examined using Partial Least Square (PLS) technique. The results show that the emotional intelligence, the locus of control have a positive effect and risk aversion and financial literacy have a negative effect on intention to a risky investment. However, there is no moderating effect of financial literacy on those direct effects. The implication for stakeholder and further research are discussed.

The relationship between access to finance and growth of SMEs in developing economies

2017 ◽  
Vol 27 (4) ◽  
pp. 520-538 ◽  
Author(s):  
George Okello Candiya Bongomin ◽  
Joseph Mpeera Ntayi ◽  
John C. Munene ◽  
Charles Akol Malinga
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Developing Economies ◽  
Moderating Effect ◽  
Access To Finance ◽  
Cross Sectional ◽  
Content Type ◽  
Financial Decisions ◽  
Positive Effects ◽  
The Relationship

Purpose The purpose of this paper is to establish the moderating effect of financial literacy in the relationship between access to finance and growth of small and medium enterprises (SMEs) in developing economies. Thus, this study seeks to establish whether financial literacy moderates the relationship between access to finance and growth of SMEs in a developing economy like Uganda. Design/methodology/approach Cross-sectional research design was used in the study and data were collected from 169 SMEs located in Jinja and Iganga central markets. ModGraph (excel programme) was used to test for the moderating effect of financial literacy in the relationship between access to finance and growth of SMEs in developing economies. Findings The findings reveal a positive and significant moderating effect of financial literacy in the relationship between access to finance and growth of SMEs in developing economies. In addition, financial literacy and access to finance also have significant and positive effects on growth of SMEs in developing economies. Research limitations/implications The study collected data from only SMEs located in Uganda, and there is an opportunity to test this finding in other developing economies. Furthermore, the findings from the study are based on quantitative data collected through use of semi-structured questionnaires. Besides, the study was purely cross-sectional; hence, it ignores the characteristics of SMEs, which could be investigated using a longitudinal study design. Practical implications The study highlights the importance of financial literacy in promoting access to finance, which is necessary for the growth of SMEs in developing economies. Owners of SMEs could attend financial literacy programmes provided by entrepreneurial skill development organizations to enable them to acquire financial knowledge and skills to make wise and better financial decisions and choices. Originality/value The study contributes to existing international entrepreneurship literature by indicating the moderating effect of financial literacy in the relationship between access to finance and growth of SMEs in developing economies. The study shows that for SMEs to access finance to grow there is a need for financial literacy that promotes effective and efficient use of loans/credits. SMEs in developing economies need financial literacy, which helps them make wise financial decisions and choices before accessing financial services like loans.

scholarly journals Pengaruh Literasi Keuangan dalam Model Prediksi Pilihan Karir Mahasiswa Perguruan Tinggi di Kota Pontianak

Eksos ◽  
2020 ◽  
Vol 16 (2) ◽  
pp. 118-132
Author(s):  
Arianto Arianto ◽  
Zulfikar Zulfikar ◽  
Tashadi Tarmizi
Keyword(s):  
Financial Literacy ◽  
Career Choices ◽  
Statistical Significance ◽  
Career Decisions ◽  
Logit Analysis ◽  
Education Students ◽  
Independent Variables ◽  
Self Employment ◽  
Financial Decision ◽  
Financial Transactions

This research begins with the assumption that financial decision making is based on an understanding of financial literacy. And indicators of independent career decisions (self-employment) are used to explain and prove the truth of these assumptions. This study models the predictions of student career choices by relating it to the financial literacy amongs higher education students in Pontianak . The descriptive quantitative method was chosen as the Research method. The results of the response are processed mathematically in predictive modeling (probit-logit model) of student career choices from their relationship with financial literacy and other additional variables. The probit-logit analysis of this model was carried out with the help of statistical software, namely SPSS. The output of the research model found that knowledge of cash flow (finlit1), entrepreneurial competency variables (entshp) and risk taking confidence variables (confid) had statistical significance (<0.05) as a variable that influenced the decision for self-employment. While the independent variables are demographic variables, none of them have statistical significance to be said to influence career decisions to become self-employed. Similarly had also been found in others  independent variables, which were "knowledge of asset types" (finlit2), "knowledge of insurance" (finlit3), "knowledge of investment types" (finlit4), and "knowledge of financial transactions" (finlit5).

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