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Scientific paper - Original scientific paper
IS THERE A RELATIONSHIP BETWEEN FINANCIAL LITERACY, CAPITAL STRUCTURE AND COMPETITIVENESS OF SMEs?
Ekonomski vjesnik : Review of Contemporary Entrepreneurship, Business, and Economic Issues, 29 (2016), 1; 37-50. urn:nbn:hr:145:184489
Delić, Anamarija; Oberman Peterka, Sunčica; Kurtović, Ivan

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Delić, A., Oberman Peterka, S. & Kurtović, I. (2016). IS THERE A RELATIONSHIP BETWEEN FINANCIAL LITERACY, CAPITAL STRUCTURE AND COMPETITIVENESS OF SMEs?. Ekonomski vjesnik : Review of Contemporary Entrepreneurship, Business, and Economic Issues, 29. (1), 37-50. Retrieved from https://urn.nsk.hr/urn:nbn:hr:145:184489

Delić, Anamarija, et al. "IS THERE A RELATIONSHIP BETWEEN FINANCIAL LITERACY, CAPITAL STRUCTURE AND COMPETITIVENESS OF SMEs?." Ekonomski vjesnik : Review of Contemporary Entrepreneurship, Business, and Economic Issues, vol. 29, no. 1, 2016, pp. 37-50. https://urn.nsk.hr/urn:nbn:hr:145:184489

Delić, Anamarija, Sunčica Oberman Peterka and Ivan Kurtović. "IS THERE A RELATIONSHIP BETWEEN FINANCIAL LITERACY, CAPITAL STRUCTURE AND COMPETITIVENESS OF SMEs?." Ekonomski vjesnik : Review of Contemporary Entrepreneurship, Business, and Economic Issues 29, no. 1 (2016): 37-50. https://urn.nsk.hr/urn:nbn:hr:145:184489

Delić, A., Oberman Peterka, S. and Kurtović, I. (2016) 'IS THERE A RELATIONSHIP BETWEEN FINANCIAL LITERACY, CAPITAL STRUCTURE AND COMPETITIVENESS OF SMEs?', Ekonomski vjesnik : Review of Contemporary Entrepreneurship, Business, and Economic Issues, 29(1), pp. 37-50. Available at: https://urn.nsk.hr/urn:nbn:hr:145:184489 (Accessed 10 November 2024)

Delić A, Oberman Peterka S, Kurtović I. IS THERE A RELATIONSHIP BETWEEN FINANCIAL LITERACY, CAPITAL STRUCTURE AND COMPETITIVENESS OF SMEs?. Ekonomski vjesnik : Review of Contemporary Entrepreneurship, Business, and Economic Issues [Internet]. 2016 June 30 [cited 2024 November 10];29(1):37-50. Available at: https://urn.nsk.hr/urn:nbn:hr:145:184489

A. Delić, S. Oberman Peterka and I. Kurtović, "IS THERE A RELATIONSHIP BETWEEN FINANCIAL LITERACY, CAPITAL STRUCTURE AND COMPETITIVENESS OF SMEs?", Ekonomski vjesnik : Review of Contemporary Entrepreneurship, Business, and Economic Issues, vol. 29, no. 1, pp. 37-50, June 2016. [Online]. Available at: https://urn.nsk.hr/urn:nbn:hr:145:184489. [Accessed: 10 November 2024]

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Title (english)IS THERE A RELATIONSHIP BETWEEN FINANCIAL LITERACY, CAPITAL STRUCTURE AND COMPETITIVENESS OF SMEs?
AuthorAnamarija Delić
AuthorSunčica Oberman Peterka
AuthorIvan Kurtović
Author's institutionJosip Juraj Strossmayer University of Osijek
Faculty of Economics and Business in Osijek
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Economics
Abstract (english)
The importance of financial market development for the economic development and competitiveness of a country is reflected in capital towards those investments that have the highest returns, thus ensuring liquidity and efficient grouping of enterprises, that is, risk-taking. Efficient risk-taking is primarily reflected in the availability of a large number of sources of funding, which allow enterprises freedom when forming their capital structure. Enterprises that do not have a large number of sources of funding at their disposal have to resort to debt financing when forming their capital structure, which ultimately means excessive financial vulnerability. Financial vulnerability, especially in times of the financial crisis, when fluctuations in the cost of capital are very high, reduces investment, growth and employment in the long-term. Small and medium-sized enterprises in the Croatian underdeveloped financial market must resort to borrowing, as the most readily available source of funding. Analysing the process of decision-making about capital structure on a sample of 108 small and medium-sized enterprises, it was observed that enterprises whose capital structure is less dependent on debt achieve better financial results and growth. The process of making financial decisions in those companies is in the hands of owners and/or managers and consultants with knowledge about the advantages and disadvantages of individual sources of funding. Financial knowledge is one of the most important determinants of the capital structure that will enable the growth and development of the small and medium-sized enterprise sector, as well as greater competitiveness of enterprises, regardless of size, activity, industry and the form of ownership of these enterprises.T-test and Levene’s test of equality of variances were used to investigate the relationship between the profitability of enterprises and their financial literacy.
Keywords (english)
Languageenglish
Publication typeScientific paper - Original scientific paper
Publication statusPublished
Peer reviewPeer review - international
Publication versionPublished version
Journal titleEkonomski vjesnik : Review of Contemporary Entrepreneurship, Business, and Economic Issues
Numberingvol. 29, no. 1, pp. 37-50
p-ISSN0353-359X
e-ISSN1847-2206
URN:NBNurn:nbn:hr:145:184489
Publication2016-06-30
Document URLhttp://hrcak.srce.hr/161032
Type of resourceText
Access conditionsOpen access
Terms of useLicence Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) icon
Created on2017-02-17 08:07:07