Asia Pacific Management Review Pub Date : 2021-04-27 , DOI: 10.1016/j.apmrv.2021.03.001 Anshika , Anju Singla , Girijasankar Mallik
The purpose of this paper is to investigate the determinants of general financial literacy, specific financial literacy and overall financial literacy among the Micro and Small Enterprises (MSEs) entrepreneurs. The data has been collected from 309 respondents from three districts in the Punjab state of India. Using ordered logit model, the results depict that the age of the entrepreneur has positive and significant effect on different types of financial literacy for the MSEs in Punjab. The findings also show that the micro and small-service enterprises have significantly higher level of financial literacy than its other manufacturing counterparts. The study also found that entrepreneurs with higher level of education have significantly higher level of all types of financial literacy. The most influencing determinant that affects the financial literacy of the entrepreneurs is found to be the level of gross profit ratio of the enterprise. Higher the gross profit ratio of the firm, significantly higher will be the level of all three types of financial literacy of the entrepreneurs. For policy perspectives, the present study recommends that firms should keep some portion of their profits to educate their employees that enhance the financial literacy. Government should help the MSEs to educate the firms to improve their level of financial literacy.
中文翻译:
金融素养的决定因素:来自印度微型和小型企业的实证证据
本文的目的是调查微型和小型企业 (MSE) 企业家的一般金融素养、特定金融素养和整体金融素养的决定因素。数据来自印度旁遮普邦三个地区的 309 名受访者。使用有序 logit 模型,结果表明企业家的年龄对旁遮普邦小微企业不同类型的金融素养有积极而显着的影响。调查结果还表明,微型和小型服务业企业的金融知识水平明显高于其他制造业企业。研究还发现,受教育程度较高的企业家在各类金融素养方面的水平明显较高。发现影响企业家金融素养的最大决定因素是企业的毛利率水平。公司的毛利率越高,企业家的所有三种金融素养水平都会显着提高。从政策角度来看,本研究建议公司应保留一部分利润来教育其员工以提高金融素养。政府应帮助小微企业教育企业提高金融知识水平。本研究建议公司应保留一部分利润来教育其员工以提高金融知识。政府应帮助小微企业教育企业提高金融知识水平。本研究建议公司应保留一部分利润来教育其员工以提高金融知识。政府应帮助小微企业教育企业提高金融知识水平。