Factors contributing to financial literacy among MSMEs in Klang Valley

hamdan, hamdino and Abdul Razak, Dzuljastri and Huridi, Mohd Hanafia and Uddin, Md Nazim (2020) Factors contributing to financial literacy among MSMEs in Klang Valley. In: World Marketing Conference 2020 ( WMC 2020 ), 3rd March 2020, Kuala Lumpur, Malaysia. (Unpublished)

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Abstract

Micro small and medium-sized enterprises (MSMEs) contribute significantly to the economic and social development of many countries. In particular, the sector provides new job opportunities, stimulates competition and thus boost productivity. Accordingly, the sustainability of MSMEs is of paramount importance. However, according to Fatoki (2012) 60% of MSMEs fail within the first five years of their operations. One of the reasons of this failure is poor financial management which is mainly because of poor financial literacy. Financial literacy is also an issue highlighted in the human resource ability in accessing fund from financial institution. Therefore, the purpose of this paper is to assess the level of financial literacy among Amanah Ikhtiar Malaysia (AIM) MSMEs operator in Klang Valley from three different districts of Selangor. A structured questionnaire was used to collect data from 312 AIM MSMEs operator. Descriptive and inferential analysis are used to examine the extent of awareness regarding financial literacy among AIM MSMEs operator. The findings indicated that ANOVA result significantly influences financial literacy. The study results indicated that knowledge, financial socialization agents, attitude and financial skills are significant predictors of financial literacy among AIM MSMEs operator in Klang Valley, Malaysia.

Item Type:	Conference or Workshop Item (Plenary Papers)
Additional Information:	6883/83409
Uncontrolled Keywords:	Attitudes; Knowledge; Socialization Agents; Financial Literacy.
Subjects:	H Social Sciences > HG Finance H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences
Depositing User:	dr hamdino hamdan
Date Deposited:	21 Oct 2020 16:47
Last Modified:	21 Oct 2020 16:47
URI:	http://irep.iium.edu.my/id/eprint/83409

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