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

Date
2015-10-29
Authors
Adomako, Samuel
Danso, Albert
Damoah, John Ofori
Journal Title
Journal ISSN
ISSN
Volume Title
Publisher
Taylor and Francis
Peer reviewed
Yes
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.
Description
Keywords
Access to finance, financial literacy, SMEs, growth, Ghana
Citation
Adomako, S., Danso, A. and Damoah, J. O. (2016) The moderating influence of financial literacy on the relationship between access to finance and firm growth in Ghana. Venture Capital: An International Journal of Entrepreneurial Finance, 18 (1)
Research Institute
Finance and Banking Research Group (FiBRe)