Dynamics of Financial Decisions for 21st-Century Economic Environments: The Link Between Business Performance, Inclusion, and Financial Literacy of Entrepreneurs in Latin America
Entrepreneurs represent a key piece in the generation of jobs and contribution to the economy through the performance of their businesses. Taking into account that literacy and financial inclusion constitute a business facilitator for the development of businesses, this study was based on analyzing...
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2026
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| author | Chuquimia-Rivero, Wladimir García-Salirrosas, Elizabeth Emperatriz Millones Liza, Dany Yudet Villar Guevara, Miluska Maria del Carmen |
| author_browse | Chuquimia-Rivero, Wladimir García-Salirrosas, Elizabeth Emperatriz Millones Liza, Dany Yudet Villar Guevara, Miluska Maria del Carmen |
| author_facet | Chuquimia-Rivero, Wladimir García-Salirrosas, Elizabeth Emperatriz Millones Liza, Dany Yudet Villar Guevara, Miluska Maria del Carmen |
| author_sort | Chuquimia-Rivero, Wladimir |
| collection | Producción científica |
| description | Entrepreneurs represent a key piece in the generation of jobs and contribution to the economy through the performance of their businesses. Taking into account that literacy and financial inclusion constitute a business facilitator for the development of businesses, this study was based on analyzing the three variables, aiming to identify whether inclusion and financial literacy influence business performance. Through a non-experimental, quantitative study based on structural equations, a sample of 469 entrepreneurs from Peru, Bolivia, and Colombia was studied. The hypotheses were supported by observing the positive effect of one component of financial literacy (Cash Forecasting) and three components of financial inclusion (Access, Barriers, and Use) on Business Performance. However, the proposed model shows that the direct effect of two components (Bookkeeping and Financial Education) of financial literacy is not statistically significant. Therefore, these factors are vital tools that can help Latin American entrepreneurs make informed financial decisions, manage resources effectively, and build solid and sustainable businesses. |
| format | Article |
| id | oai:cris.upeu.edu.pe:20.500.15037/638 |
| institution | UPeU |
| language | English |
| publishDate | 2026 |
| publishDateRange | 2026 |
| publishDateSort | 2026 |
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| spelling | oai:cris.upeu.edu.pe:20.500.15037/6382026-10-30T16:14:44ZDynamics of Financial Decisions for 21st-Century Economic Environments: The Link Between Business Performance, Inclusion, and Financial Literacy of Entrepreneurs in Latin AmericaChuquimia-Rivero, WladimirGarcía-Salirrosas, Elizabeth EmperatrizMillones Liza, Dany YudetVillar Guevara, Miluska Maria del Carmenfinancial literacyfinancial inclusionbusiness performancefinancial decision makingfinancial behaviordigital financeEntrepreneurs represent a key piece in the generation of jobs and contribution to the economy through the performance of their businesses. Taking into account that literacy and financial inclusion constitute a business facilitator for the development of businesses, this study was based on analyzing the three variables, aiming to identify whether inclusion and financial literacy influence business performance. Through a non-experimental, quantitative study based on structural equations, a sample of 469 entrepreneurs from Peru, Bolivia, and Colombia was studied. The hypotheses were supported by observing the positive effect of one component of financial literacy (Cash Forecasting) and three components of financial inclusion (Access, Barriers, and Use) on Business Performance. However, the proposed model shows that the direct effect of two components (Bookkeeping and Financial Education) of financial literacy is not statistically significant. Therefore, these factors are vital tools that can help Latin American entrepreneurs make informed financial decisions, manage resources effectively, and build solid and sustainable businesses.Articlehttps://www.mdpi.com/2227-7072/14/5/110/pdf?version=1777714562https://doi.org/10.3390/ijfs1405011010.3390/ijfs14050110https://hdl.handle.net/20.500.15037/638W7160032497enInternational Journal of Financial Studies2227-70722026-05-022026-06-13T08:19:20Z2026-06-13T08:19:20Z |
| spellingShingle | financial literacy financial inclusion business performance financial decision making financial behavior digital finance Chuquimia-Rivero, Wladimir García-Salirrosas, Elizabeth Emperatriz Millones Liza, Dany Yudet Villar Guevara, Miluska Maria del Carmen Dynamics of Financial Decisions for 21st-Century Economic Environments: The Link Between Business Performance, Inclusion, and Financial Literacy of Entrepreneurs in Latin America |
| title | Dynamics of Financial Decisions for 21st-Century Economic Environments: The Link Between Business Performance, Inclusion, and Financial Literacy of Entrepreneurs in Latin America |
| title_full | Dynamics of Financial Decisions for 21st-Century Economic Environments: The Link Between Business Performance, Inclusion, and Financial Literacy of Entrepreneurs in Latin America |
| title_fullStr | Dynamics of Financial Decisions for 21st-Century Economic Environments: The Link Between Business Performance, Inclusion, and Financial Literacy of Entrepreneurs in Latin America |
| title_full_unstemmed | Dynamics of Financial Decisions for 21st-Century Economic Environments: The Link Between Business Performance, Inclusion, and Financial Literacy of Entrepreneurs in Latin America |
| title_short | Dynamics of Financial Decisions for 21st-Century Economic Environments: The Link Between Business Performance, Inclusion, and Financial Literacy of Entrepreneurs in Latin America |
| title_sort | dynamics of financial decisions for 21st century economic environments the link between business performance inclusion and financial literacy of entrepreneurs in latin america |
| topic | financial literacy financial inclusion business performance financial decision making financial behavior digital finance |
| topic_facet | financial literacy financial inclusion business performance financial decision making financial behavior digital finance |
| url | https://www.mdpi.com/2227-7072/14/5/110/pdf?version=1777714562 https://doi.org/10.3390/ijfs14050110 https://hdl.handle.net/20.500.15037/638 |
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