Article section

Article title
Contributor
Abstract
About article
DOI
Citation style
Copyright
Open access
References
Research Article

Financial Education and its Impact on Decision Making in Business Management

Authors

  • Olívia Salgueiro Dava Business Management and Administration, Catholic University of Mozambique, Mozambique

    715230013@ucm.ac.mz

  • Agostinho Macane Department of Economics, Catholic University of Mozambique, Mozambique

Abstract

This article discusses the influence of financial education on business decision-making. The lack of financial knowledge can lead to various difficulties, such as excessive debt, poor cost management, and liquidity problems, compromising the sustainability and growth of organizations. Methodologically, the study examined pertinent research on the subject using an exploratory and bibliographic method. According to the findings, people and organisations with higher financial literacy levels perform better, are more resilient to economic shocks, and are better equipped to deal with emergencies. It is concluded, therefore, that promoting financial education is essential for strengthening business sustainability and driving economic growth.

Keywords:

Decision Making Financial Education Management

Article information

Journal

Journal of Economics, Business, and Commerce

Volume (Issue)

2(1), (2025)

Pages

91-95

Published

19-04-2025

How to Cite

Dava, O. S., & Macane, A. (2025). Financial Education and its Impact on Decision Making in Business Management. Journal of Economics, Business, and Commerce, 2(1), 91-95. https://doi.org/10.69739/jebc.v2i1.332

References

Atkinson, A., & Messy, F. (2012). Medindo a literacia financeira: Resultados do estudo piloto da OCDE / Rede Internacional de Educação Financeira (INFE). Paris, França: OECD Publishing. https://doi.org/10.1787/5k9csfs90fr4-.

Caetano, H., Mate, A. P., & Macane, A. (2021). Personal finances and quality of life of employees in the workplace: Case study of a HEI in Nacala Porto [Finanças pessoais e Qualidade de vidad dos colaboradores no ambiente de trabalho: Estudo de caso de uma IES em Nacala Porto]. Revista Electrónica de Investigação e Desenvolvimento (REID), 2(2), 95-115.

Camargo, C. (2007). Personal financial planning and organizational financial decisions: Relationships and implications on organizational performance in retail Master's Dissertation [Planejamento financeiro pessoal e decisões financeiras organizacionais: Relações e implicações sobre o desempenho organizacional no varejo Dissertação de Mestrado]. Universidade Federal do Paraná, Curitiba, Brasil.

Chigunta, F. (2006). The creation of job/work opportunities and income generating activities for youth in post-conflict countries. Documento apresentado no Encontro de Grupo de Especialistas sobre Juventude na África: Participação dos Jovens como Parceiros na Paz e Desenvolvimento em Países Pós-Conflito, Windhoek, Namibia. https://www.un.org/esa/socdev/unyin/documents/namibia_chigunta.pdf

Dessen, M. (2015). Personal Financial Management: How to manage my money [Gestão Financeira Pessoal: Como administrar meu dinheiro]. São Paulo, Brasil: Trevissan Editora.

Dorea, F. F., da Silva, M. C., & Baptista, J. A. de A. (2018). The Importance of Financial Education For The Individual In Brazil. South American Development Society Journal, 4(12), 66. https://doi.org/10.24325/issn.2446-5763.v4i12p66-79.

Fatoki, O. (2014). The connection between financial education and students. Entrepreneurial intentions. Mediterranean Journal of Social Sciences, 5(3). https://doi.org/10.5901/mjss.2014.v5n3p134 a 23/02/2025.

Fatoki, O., & Odeyemi, A. (2010). Quais pequenas e médias empresas emergentes na África do Sul têm acesso a crédito bancário? International Journal of Business and Management, 5(10), 128-136. https://doi.org/10.5539/ijbm.v5n10p128.

Fernandes, D., Lynch, J. G., Jr., & Netemeyer, R. G. (2014). Financial literacy, financial education, and downstream financial behaviors. Management Science, 60(8), 1861–1883. Recuperado em https://doi.org/10.1287/mnsc.2013.1849

Fuente-Mella, H. D. L., Umaña-Hermosilla, B., Fonseca-Fuentes, M., & Elórtegui-Gómez, C. (2021). Multinomial Logistic Regression to Estimate the Financial Education and Financial Knowledge of University Students in Chile. Information, 12(9), 379. https://doi.org/10.3390/info12090379

Gerhardt, T. E., & Silveira, D. T. (2009). Research methods. Porto Alegre, Brasil: Editora UFRGS.

Kumar, S., & Sharma, R. (2018). Key barriers in the growth of rural health care: an ISM MICMAC approach. Benchmarking: An International Journal, 25(7), 2169-2183. https://doi.org/10.1108/BIJ-05-2017-0095.

Lotter, M., & Okoro, C. (2024). A review of Financial Education Implementation in Higher Education. In 10th International Conference on Higher Education Advances (HEAd’24) (pp. 18-21). Valencia, Spain. https://doi.org/10.4995/HEAd24.2024.17290.

Lusardi, A., & Mitchell, O. S. (2014). The relevance of financial education in economy: Insights and evidence. Journal of Economic Literature, 52(1), 5–44. http://dx.doi.org/10.1257/jel.52.1.5.

Marconi, M. A., & Lakatos, E. M. (2016). Fundamentals of scientific methodology [Fundamentos de metodologia científica] (7th ed.). São Paulo, Brasil: Editora Atlas.

Marin, F., & Palmeira, E. M. (2012). The relevance of cash flow management [A relevância da administração do fluxo de caixa]. Revista de Administração, 1(1), 1-15. https://dialnet.unirioja.es/descarga/ articulo/9165979.pdf.

Medeiros. A., A. C., Santos de Lima, V. R., & Lopes, P. L. (2021). Financial education: Study on the importance of this education and the behavior patterns of generations Z and Y [Educação financeira: Estudo sobre a importância dessa educação e os padrões de comportamento das gerações Z e Y].

Miller, M., Reichelstein, J., Salas, C., & Zia, B. (2015). Can you help someone become financially capable? A meta-analysis of the literature. World Bank Research Observer, 30(2), 220–246. https://doi.org/10.1093/wbro/lkv009.

Organização de Cooperação e de Desenvolvimento Económico – OCDE (2014). OECD/INFE Guidelines for National Financial Education Strategies: Main Principles [Diretrizes da OCDE/INFE para estratégias nacionais de educação financeira: Princípios principais]. Paris, França: OCDE. ENEF.

Pereira, F., Cavalcante, A., & Crocco, M. (2019). National Financial Education Plan: The Brazilian Example [Plano nacional de educação financeira: O exemplo do Brasil]. Economia e Sociedade, 28(2), 541-561. https://doi.org/10.1590/1982-3533.2019v28n2art10.

Punhagui, B. C., Vieira, S. F. A., & Favoreto, R. L. (2016). Financial education and consumer choices: a study with employees of the Agronomic Institute of Paraná [Educação financeira e escolhas de consumo: um estudo com servidores do Instituto Agronômico do Paraná]. Revista de Estudos Contábeis, 7(12), 97-116.

Rassier, L. H. (2010). Achieve your financial freedom: Organize your finances and make your money work for you [Conquiste sua liberdade financeira: Organize suas finanças e faça o seu dinheiro trabalhar para você]. Rio de Janeiro, Brazil: Elsevier.

Downloads

Views

86

Downloads

33