The moderating influence of financial literacy on the relationship between access to finance and firm growth in Ghana

Samuel Adomako, Albert Danso and John Ofori Damoah

Venture Capital, 2016, vol. 18, issue 1, 43-61

Abstract: The literature on access to finance has confirmed a positive relationship between access to finance and firm growth. Yet the boundary conditions for such linkage are less examined in the context of developing economies. This study draws on resource-based view to introduce financial literacy as a moderator of the relationship between access to finance and firm growth. This theoretically derived research model is empirically tested using survey data from 201 small and medium-sized enterprises in Ghana. Our empirical findings suggest that financial literacy positively enhances the access to finance-firm growth relationship.

Date: 2016
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DOI: 10.1080/13691066.2015.1079952

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