Financial Literacy among SMEs’ Owners in Sumatera, Indonesia: The Role of Parents’ Motivation and Experience
Financial literacy is the skill to conduct personal and also business finance. Financial literacy shows information and reasoned both for the economy and finance. Financial literacy is able to apply and regulate financial literacy that affects wellbeing. In 2013, the financial services authority (O...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
CSRC Publishing
2020-10-01
|
| Series: | Journal of Business and Social Review in Emerging Economies |
| Subjects: | |
| Online Access: | https://publishing.globalcsrc.org/ojs/index.php/jbsee/article/view/1374 |
| _version_ | 1811281361045028864 |
|---|---|
| author | Rika Desiyanti Aza Azlina Md Kassim |
| author_facet | Rika Desiyanti Aza Azlina Md Kassim |
| author_sort | Rika Desiyanti |
| collection | DOAJ |
| description | Financial literacy is the skill to conduct personal and also business finance. Financial literacy shows information and reasoned both for the economy and finance. Financial literacy is able to apply and regulate financial literacy that affects wellbeing. In 2013, the financial services authority (OJK) has conducted a financial survey and the result indicated that only 21.8% of people understand finance and in 2016, the percentage has increased from about 8% to 29.66. Lacking strength of financial literacy gives low effect on financial decisions, including less saving, opting for more leverage, and involved in unprofitable investments. This paper a particular goal to analyze the influence of parental motivation and experience on financial literacy. Research sample is SMEs' Owners in Sumatra, Indonesia, have been sent questionnaires. Based on a sample of 60 respondents it can be concluded that parents' motivation affected their financial literacy. Nevertheless, financial experience by the parents does not affect financial literacy. |
| first_indexed | 2024-04-13T01:31:02Z |
| format | Article |
| id | doaj.art-8694e4b362e14ac0ba13064c697fdf04 |
| institution | Directory Open Access Journal |
| issn | 2519-089X 2519-0326 |
| language | English |
| last_indexed | 2024-04-13T01:31:02Z |
| publishDate | 2020-10-01 |
| publisher | CSRC Publishing |
| record_format | Article |
| series | Journal of Business and Social Review in Emerging Economies |
| spelling | doaj.art-8694e4b362e14ac0ba13064c697fdf042022-12-22T03:08:30ZengCSRC PublishingJournal of Business and Social Review in Emerging Economies2519-089X2519-03262020-10-016310.26710/jbsee.v6i3.1374Financial Literacy among SMEs’ Owners in Sumatera, Indonesia: The Role of Parents’ Motivation and ExperienceRika Desiyanti0Aza Azlina Md Kassim1Bung Hatta UniversityFaculty of Business and Accountancy, Universiti Selangor, IndonesiaFinancial literacy is the skill to conduct personal and also business finance. Financial literacy shows information and reasoned both for the economy and finance. Financial literacy is able to apply and regulate financial literacy that affects wellbeing. In 2013, the financial services authority (OJK) has conducted a financial survey and the result indicated that only 21.8% of people understand finance and in 2016, the percentage has increased from about 8% to 29.66. Lacking strength of financial literacy gives low effect on financial decisions, including less saving, opting for more leverage, and involved in unprofitable investments. This paper a particular goal to analyze the influence of parental motivation and experience on financial literacy. Research sample is SMEs' Owners in Sumatra, Indonesia, have been sent questionnaires. Based on a sample of 60 respondents it can be concluded that parents' motivation affected their financial literacy. Nevertheless, financial experience by the parents does not affect financial literacy.https://publishing.globalcsrc.org/ojs/index.php/jbsee/article/view/1374parents’ motivation, parents’ experience, financial literacy |
| spellingShingle | Rika Desiyanti Aza Azlina Md Kassim Financial Literacy among SMEs’ Owners in Sumatera, Indonesia: The Role of Parents’ Motivation and Experience Journal of Business and Social Review in Emerging Economies parents’ motivation, parents’ experience, financial literacy |
| title | Financial Literacy among SMEs’ Owners in Sumatera, Indonesia: The Role of Parents’ Motivation and Experience |
| title_full | Financial Literacy among SMEs’ Owners in Sumatera, Indonesia: The Role of Parents’ Motivation and Experience |
| title_fullStr | Financial Literacy among SMEs’ Owners in Sumatera, Indonesia: The Role of Parents’ Motivation and Experience |
| title_full_unstemmed | Financial Literacy among SMEs’ Owners in Sumatera, Indonesia: The Role of Parents’ Motivation and Experience |
| title_short | Financial Literacy among SMEs’ Owners in Sumatera, Indonesia: The Role of Parents’ Motivation and Experience |
| title_sort | financial literacy among smes owners in sumatera indonesia the role of parents motivation and experience |
| topic | parents’ motivation, parents’ experience, financial literacy |
| url | https://publishing.globalcsrc.org/ojs/index.php/jbsee/article/view/1374 |
| work_keys_str_mv | AT rikadesiyanti financialliteracyamongsmesownersinsumateraindonesiatheroleofparentsmotivationandexperience AT azaazlinamdkassim financialliteracyamongsmesownersinsumateraindonesiatheroleofparentsmotivationandexperience |