publication . Research . Conference object . 2016

Financial Literacy and Self-Employment

Ćumurović, Aida; Hyll, Walter;
Open Access English
  • Published: 01 Jan 2016
  • Publisher: Kiel und Hamburg: ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
Abstract
In this paper, we study the relationship between financial literacy and self-employment. We use established financial knowledge-based questions to measure financial literacy levels. The analysis shows a highly significant correlation between self-employment and financial literacy scores. To investigate the impact of financial literacy on being self-employed, we apply instrumental variable techniques based on information on economic education before entering the labour market and education of parents. Our results reveal that financial literacy positively affects the probability of being self-employed. As financial literacy is acquirable, findings suggest that ent...
Subjects
free text keywords: financial sophistication, D03, self-employment, J23, J24, financial literacy, A20, ddc:330
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publication . Research . Conference object . 2016

Financial Literacy and Self-Employment

Ćumurović, Aida; Hyll, Walter;