Sean Wise
The Impact of Financial Literacy on New Venture Survival
Toronto Metropolitan University
investigation impact financial literacy new venture survivala model proposed increased adoption financial tools egfinancial statements financial ratios leads increased frequency financial statement generation turn increases likelihood loan repayment decreases probability venture failurea structural model tested using data 509 young entrepreneurs canada received start loans participation program canadian youth business foundationthis research found increases financial literacy led frequent production financial statementsthis research found entrepreneurs produced financial statements frequently higher probability loan repayment lower probability close venture involuntarily