{"title":"Do demographic characteristics influence the financial literacy of microentrepreneurs?","authors":"Manisha Goyal, Renu Aggarwal, Savita Bhagat","doi":"10.1002/joe.22265","DOIUrl":null,"url":null,"abstract":"<p>Financial literacy is crucial to the growth and development of any enterprise. This study investigates the impact of microentrepreneurs’ demographic characteristics on financial literacy by breaking it down into three components: financial knowledge, financial behavior, and financial attitude. The study data were collected from 132 microentrepreneurs through a survey questionnaire using a snowball sampling technique. An ordinary least square regression was used to analyze how entrepreneurs’ demographic characteristics are related to financial knowledge, financial behavior, financial attitude, and financial literacy. The study revealed that being male, having higher education and more experience, and operating in urban areas have a significant impact on financial literacy and its three components. However, age was found to have no significant impact on financial literacy. This study will help in designing targeted strategies and specialized programs for entrepreneurs looking at the significant impact of their diverse characteristics on financial literacy.</p>","PeriodicalId":35064,"journal":{"name":"Global Business and Organizational Excellence","volume":"44 1","pages":"32-46"},"PeriodicalIF":0.0000,"publicationDate":"2024-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Global Business and Organizational Excellence","FirstCategoryId":"1085","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1002/joe.22265","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Business, Management and Accounting","Score":null,"Total":0}
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Abstract
Financial literacy is crucial to the growth and development of any enterprise. This study investigates the impact of microentrepreneurs’ demographic characteristics on financial literacy by breaking it down into three components: financial knowledge, financial behavior, and financial attitude. The study data were collected from 132 microentrepreneurs through a survey questionnaire using a snowball sampling technique. An ordinary least square regression was used to analyze how entrepreneurs’ demographic characteristics are related to financial knowledge, financial behavior, financial attitude, and financial literacy. The study revealed that being male, having higher education and more experience, and operating in urban areas have a significant impact on financial literacy and its three components. However, age was found to have no significant impact on financial literacy. This study will help in designing targeted strategies and specialized programs for entrepreneurs looking at the significant impact of their diverse characteristics on financial literacy.
期刊介绍：
For leaders and managers in an increasingly globalized world, Global Business and Organizational Excellence (GBOE) offers first-hand case studies of best practices of people in organizations meeting varied challenges of competitiveness, as well as perspectives on strategies, techniques, and knowledge that help such people lead their organizations to excel. GBOE provides its readers with unique insights into how organizations are achieving competitive advantage through transformational leadership--at the top, and in various functions that make up the whole. The focus is always on the people -- how to coordinate, communicate among, organize, reward, teach, learn from, and inspire people who make the important things happen.
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