The effect of family ownership and generation on financial literacy
Open Access
- 1 January 2020
- journal article
- Published by Asociacion Espanola de Contabilidad y Administracion de Empresas (AECA) in Small Business International Review
- Vol. 4 (1), 1-15
- https://doi.org/10.26784/sbir.v4i1.236
Abstract
The purpose of this article is to study the effect of family ownership and family generation on financial literacy. To do that, we have analysed a sample of 195 Spanish family businesses, reaching the conclusion that the level of family ownership exerts a negative influence on financial literacy. On the other hand, as family generations advance, financial literacy is favoured. This study benefits professionals and entrepreneurs, since they could, through a series of guidelines, improve financial literacy and, with it, the viability of their respective firmsKeywords
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