FINANCING CONSTRAINTS ON SMES IN EMERGING MARKETS: DOES FINANCIAL LITERACY MATTER?

Thi Anh Nhu Nguyen
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Thi Anh Nhu Nguyen: Faculty of Management and Economics, Tomas Bata University in Zlin, Czech Republic

Review of Socio - Economic Perspectives, 2017, vol. 2, issue 2, 53-65

Abstract: In the current context, SMEs in emerging markets are facing a number of obstacles to accessing financing sources. Therefore, various studies have discussed determinants of SMEs accessibility to finance. Yet to expand the conceptual framework in this research area, this article proposes that financial literacy of owner managers is a key influencing factor of SMEs access to financing sources. The collaboration between firms characteristics and owner managers characteristics, specifically financial literacy of owner managers, develops the unification of power resources. This would lead to an improvement to the quality and efficiency of financial decision making of SMEs to overcome constraints on the access to financing sources in emerging markets.

Keywords: Financial Literacy; Credit Constraints; SMEs Financing; Emerging Markets (search for similar items in EconPapers)
JEL-codes: D14 G32 O1 O16 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:aly:journl:201711

DOI: 10.19275/RSEP017

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