Financial Literacy and Entrepreneurial Success: Case Studies from Nigeria, Indonesia, and Japan

Okoli Chinedu Emmanuel, Aniek Hindrayani, Khresna Bayu Sangka

Abstract


The research aimed to find out the impact of financial literacy on entrepreneurial success in three countries. It is also looked into other possible variables that can affect the efficient of financial literacy like, culture, economic environment and government policies. The data were collected through questionnaire administered to 261 respondents. The primary data collected was analysed using descriptive statistics. ANOVA model was used to find out the variance between the three countries and the Tukey’s HSD post-hoc test was used to identify the individual variance. The result revealed that financial literacy has a positive impact on entrepreneurial success, and variables like culture, economic environment and government also has a significant impact on entrepreneurial success. The variance test, showed that there is no significant difference between Nigeria and Indonesia, however there is a significant difference when the two countries were compared to Japan.


Keywords


Cross Country; Economic Environment; Entrepreneurial Success; and Financial Literacy

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References


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DOI: https://doi.org/10.17509/jrak.v13i2.84209

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