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Does financial knowledge in small- and medium-sized enterprises matter? An empirical survey for Greece

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  • Marinos Stefanitsis
  • Irene Fafaliou
  • Joseph Hassid

Abstract

The purpose of this study is to examine the role financial knowledge of small- and medium-sized enterprises (SMEs) might play in their financial behaviour. To this end, we employ a structured questionnaire survey addressed online to a convenient sample of 352 SMEs located in Greece. Using a multivariate statistical analysis, our findings indicate that despite Greek SMEs' satisfactory financial knowledge in specific areas, the majority of the respondents fail to capture gains in overall performance. More research is required to capture additional evidence in the field and in this way to inform better SMEs' managers and policy-makers.

Suggested Citation

  • Marinos Stefanitsis & Irene Fafaliou & Joseph Hassid, 2013. "Does financial knowledge in small- and medium-sized enterprises matter? An empirical survey for Greece," International Journal of Economics and Business Research, Inderscience Enterprises Ltd, vol. 5(1), pages 96-113.
    • Handle: RePEc:ids:ijecbr:v:5:y:2013:i:1:p:96-113
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    Cited by:

    1. García-Pérez-de-Lema, Domingo & Ruiz-Palomo, Daniel & Diéguez-Soto, Julio, 2021. "Analysing the roles of CEO's financial literacy and financial constraints on Spanish SMEs technological innovation," Technology in Society, Elsevier, vol. 64(C).
    2. Alicia Ramírez-Orellana & Daniel Ruiz-Palomo & Alfonso Rojo-Ramírez & John E. Burgos-Burgos, 2021. "The Ecuadorian Banana Farms Managers’ Perceptions: Innovation as a Driver of Environmental Sustainability Practices," Agriculture, MDPI, vol. 11(3), pages 1-18, March.
    3. Marinos Stefanitsis & Irene Fafaliou & Joseph Hassid, 2013. "Similarities and Differences between Households’ and SME’s Financial Knowledge and Behaviour: A Greek Survey," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 63(1-2), pages 7-30, June.
    4. Clemente-Almendros, Jose Antonio & Nicoara-Popescu, Dorina & Pastor-Sanz, Ivan, 2024. "Digital transformation in SMEs: Understanding its determinants and size heterogeneity," Technology in Society, Elsevier, vol. 77(C).

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