RURAL WOMEN-LED MICROENTERPRISES IN UZBEKISTAN: THE ROLE OF FINANCIAL LITERACY — AN EMPIRICAL ANALYSIS
DOI:
https://doi.org/10.5281/zenodo.22643225Abstract
The current study aims to explore the effects of financial literacy on the performance of
enterprises owned by 173 female micro-entrepreneurs in Khorezm, Uzbekistan. The OLS regression analysis
is employed to test the hypothesis of financial literacy affecting the performance of female-owned businesses
in Khorezm. In particular, the study focuses on three components of financial literacy including financial
education, cash forecasting, and bookkeeping practices. The results reveal that all three components
significantly and positively affect business performance, with cash forecasting having the highest impact
(β = 0.513, p < 0.001) followed by bookkeeping practices (β = 0.495, p < 0.001) and financial education
(β = 0.281, p < 0.01). Financial literacy accounts for 62.3% of the variance in business performance (R² =
0.623). Entrepreneurial experience and education positively affect business performance, whereas age has
a significantly negative effect.
Keywords
financial literacy, female micro-entrepreneurs, business performance, cash forecasting, bookkeeping practices, financial education, human capital, entrepreneurship, Uzbekistan, OLS regressionReferences
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