Please use this identifier to cite or link to this item:
https://hdl.handle.net/10321/5533
DC Field | Value | Language |
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dc.contributor.author | Msomi, Thabiso Sthembiso | en_US |
dc.contributor.author | Nzama, Smangele | en_US |
dc.date.accessioned | 2024-09-18T14:08:26Z | - |
dc.date.available | 2024-09-18T14:08:26Z | - |
dc.date.issued | 2022-11-04 | - |
dc.identifier.citation | Msomi, T. S. and Nzama, S. 2022. Financial literacy and SME loan repayments in South Africa during the COVID-19 era. Investment Management and Financial Innovations. 19(4): 113-121. doi:10.21511/imfi.19(4).2022.09 | en_US |
dc.identifier.issn | 1810-4967 | - |
dc.identifier.issn | 1812-9358 (Online) | - |
dc.identifier.uri | https://hdl.handle.net/10321/5533 | - |
dc.description.abstract | Small and medium-sized enterprises (SMEs) are the primary victims of the COVID-19 outbreak because they lack adequate resources and are poorly prepared for such interruptions. For SMEs to expand, they need financial assistance such as loans and advances from financial service providers. However, they struggle to repay these loans and advances because they are small in size and do not make large turnovers, and owners lack adequate financial literacy. This study aims to investigate the relationship between financial literacy and loan repayment of SMEs. The study followed a positivist paradigm, and a quantitative approach was employed. A total of 110 self-completed Likert questionnaires were distributed, only 107 were filled correctly and analyzed using SPSS. The results from Pearson’s correlation coefficient showed a strong and significant relationship between financial literacy and SME loan repayments at r = 0.324, P < 0.0005. Regression analysis showed a significant linear relationship between financial literacy and SME loans repayments, F (1.152) = 17.806; P < 0.0005. P < 0.0005 is less than the independent variable (SME loans repayments), B = 0.324, P < 0.0005. The results imply that if SME owners are well-versed in finance, they will be capable of repaying outstanding loans and advances timely. | en_US |
dc.format.extent | 10 p | en_US |
dc.language.iso | en | en_US |
dc.publisher | LLC CPC Business Perspectives | en_US |
dc.relation.ispartof | Investment Management and Financial Innovations; Vol. 19, Issue 4 | en_US |
dc.subject | 1502 Banking, Finance and Investment | en_US |
dc.subject | 3502 Banking, finance and investment | en_US |
dc.subject | Finance | en_US |
dc.subject | Financial knowledge | en_US |
dc.subject | Borrowings | en_US |
dc.subject | Interest rates | en_US |
dc.subject | Payment periods | en_US |
dc.subject | Pandemic | en_US |
dc.title | Financial literacy and SME loan repayments in South Africa during the COVID-19 era | en_US |
dc.type | Article | en_US |
dc.date.updated | 2024-09-18T11:46:16Z | - |
dc.publisher.uri | http://dx.doi.org/10.21511/imfi.19(4).2022.09 | en_US |
dc.identifier.doi | 10.21511/imfi.19(4).2022.09 | - |
item.grantfulltext | open | - |
item.cerifentitytype | Publications | - |
item.fulltext | With Fulltext | - |
item.openairecristype | http://purl.org/coar/resource_type/c_18cf | - |
item.languageiso639-1 | en | - |
item.openairetype | Article | - |
Appears in Collections: | Research Publications (Accounting and Informatics) |
Files in This Item:
File | Description | Size | Format | |
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Msomi_Nzama_2022.pdf | 454.97 kB | Adobe PDF | View/Open | |
IMFI Clearance copyright.docx | 210.83 kB | Microsoft Word XML | View/Open |
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