The Impact of Financial Literacy on Financial Preparedness for Retirement in the Small and Medium Enterprises Sector in Uganda

Colin Agabalinda and Alain Vilard Ndi Isoh
Additional contact information
Colin Agabalinda: ICT University, Cameroon
Alain Vilard Ndi Isoh: ICT University, Cameroon

International Journal of Applied Behavioral Economics (IJABE), 2020, vol. 9, issue 3, 26-41

Abstract: The study investigated the direct effects of financial literacy (knowledge, skills, and attitudes) on financial preparedness for retirement and the moderating effect of age among the small and medium enterprises in Uganda. Primary data was collected from a sample of n = 380 selected from the SME workforce. Descriptive analysis was run on SPSS, while validity and reliability of the measurement items yielded satisfactory composite reliability scores and average variance explained (AVE) scores for all items. Structural equation modelling (SEM) was used to test the hypotheses and multi-group analysis conducted to test for the moderating effect of age on the relationship between financial literacy and retirement preparedness. The results revealed that knowledge and skills were significant predictors of retirement preparedness. However, ‘attitude' was not a significant predictor, and age had no moderating effect on the relationship between the study variables. These findings present practical implications for policymakers and financial educators in a developing country context.

Date: 2020
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://services.igi-global.com/resolvedoi/resolve. ... 018/IJABE.2020070102 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:igg:jabe00:v:9:y:2020:i:3:p:26-41

Access Statistics for this article

International Journal of Applied Behavioral Economics (IJABE) is currently edited by Yun Wan

More articles in International Journal of Applied Behavioral Economics (IJABE) from IGI Global
Bibliographic data for series maintained by Journal Editor ().