scholarly journals Personal financial literacy and personal debt management: The potential relationship with new venture creation

2008 ◽  
Vol 1 (1) ◽  
pp. 35 ◽  
Author(s):  
Liezel Kotzé ◽  
Prof A.v.A Smit
Keyword(s):  
Financial Literacy ◽  
Financial Education ◽  
Debt Management ◽  
Financial Knowledge ◽  
New Venture ◽  
Entrepreneurial Activity ◽  
New Venture Creation ◽  
Key Words And Phrases ◽  
Venture Creation ◽  
Personal Savings

<p>Prior research shows that personal savings are one of the most important financial sources for start-ups of entrepreneurial firms. The lack of personal savings and seeming shortage of financial knowledge could contribute to the low incidence of new venture creation, and the high failure rate amongst South African entrepreneurs. This paper investigates the perceptions of 286 Business Management students with a minimum of three years’ working and management experience, regarding both their financial literacy and their need and desire for financial education. The outcomes of the study show the necessity for financial education and financial literacy in South Africa. The respondents showed a lack of confidence in their money management skills and expressed a desire for more financial knowledge. It is possible that an increased level of financial literacy could lead to more entrepreneurial activity and a decrease in new venture failures.</p><p> </p><p><strong>Key words and phrases:</strong> personal financial literacy, personal debt, personal savings, personal financial management, new venture creation</p>

Entrepreneurship and Chance

2019 ◽  
pp. 119-135
Author(s):  
Alexandra França ◽  
Orlando Lima Rua
Keyword(s):  
Business Environment ◽  
Research Proposal ◽  
New Venture ◽  
Entrepreneurial Activity ◽  
New Venture Creation ◽  
Planning Model ◽  
Venture Creation ◽  
Entrepreneurial Opportunity ◽  
Entrepreneurship Research ◽  
Opportunity Discovery

The unpredictability of business activities means that entrepreneurs should find a way to adapt and embrace chance. The traditional and predefined process logic offers little support for today's complex and dynamic business environment. One tenet that shaped the direction of entrepreneurship research is the view that the entrepreneurial opportunity discovery and development is linear, systematic, and rational, that is, it is assumed that all factors are measurable and knowable. However, unknowable instances of coincidence, randomness, and chance factors can play a significant role in new venture creation. The authors propose that these factors point to the nonlinear and acausal phenomenon of chance. This research proposal intends to address entrepreneurs' alternative mechanisms, other than the classic formal planning model, to harness opportunities or overcome setbacks arising from chance. To achieve our purpose, the authors examine qualitative data drawn from entrepreneurial activity of Spain and Portugal.

IMPAK PERSONALITI DAN MOTIVASI USAHAWAN: KAJIAN KES TERHADAP PROSES PENCIPTAAN PERNIAGAAN BAHARU E-DAGANG DI MALAYSIA

2017 ◽  
Vol 5 (2) ◽  
pp. 67-84
Author(s):  
AHMAD FIRDAUSE MD FADZIL ◽  
MOHD RAFI YAACOB ◽  
RAZLI CHE RAZAK ◽  
NORAANI MUSTAPHA
Keyword(s):  
Risk Taking ◽  
New Venture ◽  
Entrepreneurial Activity ◽  
Research Approach ◽  
New Venture Creation ◽  
Venture Creation ◽  
Tolerance Of Ambiguity ◽  
New Business ◽  
Collection Data ◽  
Online Entrepreneurs

Kajian berkenaan ciri-ciri usahawan sebagai salah satu komponen utama yang menyumbang kepada bidang keusahawanan telah hangat diketengahkan oleh penyelidik lepas terutamanya bagi proses penciptaan perniagaan baharu. Usahawan memiliki kualiti berbeza dibandingkan dengan mereka yang lain. Oleh itu, timbul beberapa pendekatan kearah melihat kepada psikologi usahawan seperti personaliti dan motivasi sebagai pemacu kepada proses penciptaan perniagaan baharu. Namun kajian lepas bersandarkan konteks usahawan perniagaan e-dagang masih kurang diperdebatkan walaupun telah menyumbang sebahagian besar kepada bidang keusahawanan kini terutama kepada penciptaan nilai ekonomi kepada sesebuah negara. Matlamat kajian ini adalah untuk mengenalpasti bagaimanakah personaliti dan motivasi usahawan telah menyumbang kepada penciptaan perniagaan baharu e-dagang di Malaysia. Dengan pendekatan kajian kes munggunakan kaedah pengumpulan data secara kualitatif terdapat sembilan usahawan yang ditemubual bermula pada bulan Mei 2013 sehingga April 2014. Hasil dapatan ini telah mengenal pasti ciri-ciri personaliti adalah berdasarkan kreativiti, kesediaan bagi menanggung risiko, berpandangan kehadapan, keinginan kebebasan, toleransi terhadap kekaburan dan elemen motivasi seperti keinginan untuk berjaya telah mendokong kuat kepada justifi kasi proses penciptaan perniagaan baharu e-dagang di Malaysia. Oleh itu, peranan kerajaan bagi mengalakkan aktiviti keusahawanan perlu menerapkan beberapa elemen ini agar dapat meningkatkan nilai pembangunan ekonomi negara melalui kemunculan perniagaan baharu kelak.   Study on the characteristics of an entrepreneur as one of the key components that contribute to the fi eld of entrepreneurship particularly for new venture creation has been highlighted by many previous researchers. Entrepreneurs are seen to have quality characteristics compared to those of other non-entrepreneurs. Thus, the emergence of a number of approaches that look to an entrepreneur such as psychology perspectives: personality, and motivation has produced an entrepreneur who creates a new business. However, studies on the online entrepreneurs are less debatable even they contributed a large part of entrepreneurship is particularly creating to the economy value of a country. The aim of this study is to identify how the characteristics of the personality and motivation have contributed to the new venture creation by online entrepreneurs in Malaysia. By using qualitative research approach based on the method of collection data through interviews nine successful online entrepreneurs at May 2013 till April 2014 have identifi ed some of the characteristics of entrepreneurs as a component contributing to the new venture creation. The findings of this study have been found personality characteristics such creativity, risk taking, vision, freedom, tolerance of ambiguity and element of motivation; need for achievement have vigorously to contributing of new venture creation by online entrepreneurs in Malaysia. Government’s role is to encourage entrepreneurial activity in order to create new business opportunities in the country to apply the elements in order to enhance the economic development of the country.

scholarly journals Relationship between Financial Literacy and Its Component: A Research on Working Women

2019 ◽  
pp. 1-6 ◽  
Author(s):  
Nur Najihah Binti Ashaari ◽  
Zahayu Binti Md. Yusof
Keyword(s):  
Correlation Coefficient ◽  
Significant Relationship ◽  
Financial Literacy ◽  
Pearson Correlation ◽  
Working Women ◽  
Financial Education ◽  
Debt Management ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Pearson Correlation Coefficient

Developing countries, such as Malaysia, are in need of working women to help to improve the country's economy. Thus, it is of immense need for our economy to take into consideration the fact that where and how working women are spending or investing their funds. For appropriate utilization of funds, working women need to be financially literate. Financial literacy is the convergence of financial, credit and debt management and the knowledge that is necessary to make financially responsible decisions. This paper is conducted to assess the correlation between financial literacy and its component namely financial education, financial attitude, financial behavior and financial knowledge. Data processing of this study using a Pearson correlation coefficient and the sample size of 35 respondents which is working women in Universiti Utara Malaysia. A part from Pearson correlation coefficient, include descriptive statistics of frequency counts and percentages as a methid of data analysis employed in this study. The data are quantitatively analyzed through statistical software namely, Statistical Packages for Social Science (SPSS) version 25.0. The result indicates that financial literacy does not have a significant relationship with financial knowledge. However financial education, financial attitude and financial behavior together have a significant relationship with financial literacy.

Community Social Capital and the Venture Gestation Process

2019 ◽  
pp. 175-200
Author(s):  
Siddharth Vedula ◽  
Casey J. Frid
Keyword(s):  
Social Capital ◽  
Research Agenda ◽  
New Venture ◽  
Entrepreneurial Activity ◽  
New Venture Creation ◽  
Venture Creation ◽  
Nascent Entrepreneurs ◽  
Nascent Entrepreneurship ◽  
Growing Body ◽  
Future Work

Community social capital is increasingly recognized as an important regional resource for spurring entrepreneurial activity. A nascent but growing body of work has begun to link community social capital to entrepreneurship, focusing largely on outcomes such as rates of new venture creation. This chapter emphasizes ways in which community social capital can impact nascent entrepreneurship—namely, the activities founders undertake during the gestation phase before a new venture is created. It examines whether the types of activities undertaken by nascent entrepreneurs vary according to the prevalence (or absence) of community social capital within a region, and concludes with a research agenda for future work in this domain.

scholarly journals THE EFFECT OF FINANCIAL LITERACY AND ACCOUNTING LITERACY TO ENTREPRENEURIAL INTENTION USING THEORY OF PLANNED BEHAVIOR MODEL IN STIE SUTAATMADJA ACCOUNTING STUDENTS

2019 ◽  
pp. 1
Author(s):  
Ika Nurbaeti ◽  
Sri Mulyati ◽  
Bambang Sugiharto
Keyword(s):  
Theory Of Planned Behavior ◽  
Financial Literacy ◽  
Entrepreneurial Intention ◽  
Subjective Norms ◽  
New Venture ◽  
New Venture Creation ◽  
Behavior Model ◽  
Venture Creation ◽  
Behavior Control ◽  
Perceived Behavior Control

Entrepreneurship in Indonesia is still low compared to other countries, but the interest of young people for entrepreneurship is higher. This research was conducted to determine the effect of financial literacy and accounting literacy to entrepreneurial intention by using the theory of planned behavior model. The population used in this study were all active students of accounting study program of STIE Sutaatmadja. Sample selection technique uses simple random sampling. Samples obtained are 150 respondents from semester 2 to semester 8. The analysis tool used in this study is SEM with the help of the LISREL 8.80 program. The results of this study indicate that financial literacy and accounting literacy does not affect the attitude towards new venture creation, subjective norms and perceived behavior control, and subjective norms do not affect the entrepreneurial intention. While the attitude towards new venture creation variable and perceived behavior control affect entrepreneurial intentions

Entrepreneurial activity in the venture creation and development process

2012 ◽  
Vol 30 (2) ◽  
pp. 107-114 ◽  
Author(s):  
Mike Wright ◽  
Susan Marlow
Keyword(s):  
Development Process ◽  
New Venture ◽  
Entrepreneurial Activity ◽  
Future Research ◽  
New Venture Creation ◽  
Venture Creation ◽  
Special Edition ◽  
Discrete Elements ◽  
Dynamic Nature ◽  
Diverse Range

This special edition editorial notes the complex and dynamic nature of the new venture creation process. Although the growing body of work which explores discrete elements of this process is acknowledged, in-depth analyses of the ‘black box’ of new venture creation remain scarce. Thus, this special edition features articles that recognize and explore how entrepreneurial actors and their ventures progress within and between the various phases necessary to establish viable new firms within differing and uncertain contexts. Three articles are featured offering a diverse range of perspectives upon the challenges encountered during new venture creation and the strategies adopted to address these issues. Drawing from these articles, a more nuanced processual view of entrepreneurial activity in the venture creation and development process is presented and in addition, pathways are suggested for future research to develop this debate.

scholarly journals DOES FINANCIAL LITERACY REALLY MATTER FOR MALAYSIANS? A REVIEW.

2020 ◽  
Vol 2 (2) ◽  
pp. 13-20
Author(s):  
Nor Izzati Mohd Aziz ◽  
Salina Kassim
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Ad Hoc ◽  
National Level ◽  
Financial Education ◽  
Debt Management ◽  
Financial Knowledge ◽  
Management Research ◽  
Current Scenario ◽  
Education Network

Malaysians lack financial literacy but are generally unaware of the fact. The national level of financial literacy measured in terms of financial knowledge is still low among Malaysians. A survey by the Credit Counselling and Debt Management Agency (AKPK) found that 1 out of 3 Malaysians rated themselves as having a low level of confidence about financial management. Research on the issue has made some attempt to examine the cause of lower financial literacy and its effects on decision making, but studies have been limited. This paper examines studies on the topic compiled between the years 2017 and 2019 and some surveys made by organizations in Malaysia to see the current scenario of financial literacy in Malaysia. Up to the present, it is clear that current approaches and strategies toward financial literacy have been ad-hoc. The latest initiative from the Financial Education Network concerned with empowering financial literacy is the National Strategy for Financial Literacy 2019-2023. Each of the organizations involved is committed to improving financial literacy among Malaysian by organizing financial education initiatives such as carnivals, clubs, and seminars. The present study will benefit other researchers and maybe a reference for any organizations that will benefit from the updated statistics and information.

scholarly journals Malaysian Undergraduates Financial Literacy and Financial Education: a Study in Universiti Utara Malaysia

2018 ◽  
Vol 7 (3.30) ◽  
pp. 325
Author(s):  
Logasvathi Murugiah ◽  
. . ◽  
. .
Keyword(s):  
Social Media ◽  
Social Network ◽  
Financial Literacy ◽  
Financial Education ◽  
Debt Management ◽  
Financial Knowledge ◽  
First Year ◽  
Budget Planning ◽  
Literacy Knowledge ◽  
Universiti Utara Malaysia

Financial literacy is becoming increasingly important not only for investors but also for individual in planning his or her day to day budget. Hence, recent development in financial education has highlighted the increasingly important to be financial healthy. Hence, the objectives of this study are (i) to investigate the level of UUM undergraduates’ in financial literacy and (ii) to assess UUM undergraduates’ preferable method in learning financial education. Questionnaires were distributed to 400 undergraduate in UUM, age ranging 20 to 28 years old in 2017. The finding of this study revealed that female have a better saving knowledge compare to male respondents. Furthermore, this study concluded that first year undergraduate’s saving knowledge is slightly better. Meanwhile, final year undergraduates are better in spending and budgeting knowledge. Besides, business programme undergraduate showcase a good financial literacy knowledge. This study also find that preference method in learning financial knowledge are website / internet / online followed by workshop / seminar / talks / conferences and finally social network / social media. Meanwhile, preferable personal financial topic that undergraduate would like to enroll and learn are budget planning or expenses management, followed by debt management and lastly about insurance.  

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