The influence of CEO’s financial literacy on SMEs technological innovation:the mediating effects of MCS and risk‑taking

作     者：Antonio Duréndez Julio Dieguez‑Soto Antonia Madrid‑Guijarro 

作者机构：Department of EconomicsAccounting and FinanceUniversidad Politécnica de CartagenaCalle Real330201 CartagenaSpain Finance and Accounting DepartmentUniversidad de MálagaCalle El Ejido29071 MalagaSpain Cátedra de Emprendimiento Santander‑UPCTDepartment of EconomicsAccounting and FinanceUniversidad Politécnica de CartagenaCalle Real330201 CartagenaSpain 

出 版 物：《Financial Innovation》 (金融创新（英文）)

年 卷 期：2023年第9卷第1期

页      面：371-396页

核心收录：

学科分类：120202[管理学-企业管理（含：财务管理、市场营销、人力资源管理）] 12[管理学] 1203[管理学-农林经济管理] 1202[管理学-工商管理] 

主　　题：Financial literacy Technological innovation Small and medium-sized enterprises Risk-taking Management control systems 

摘      要：Previous literature showed mixed results about the impact of CEOs’financial literacy(CFL)on small and medium-sized enterprises’(SMEs)*** relationship can be motivated by relevant variables,which are missing in the previous literature and make a difference as *** this sense,based on the theoretical framework related to upper echelon theory and resource-based view,this study focuses on the mediating effect of risk-taking attitude and management control systems(MCS)*** data from 310 SMEs gathered using a qualitative research questionnaire are analyzed using structural equation modeling ***,estimations are carried out considering the partial least square *** show that MCS and managers’risk attitudes fully mediate the relationship between financial literacy(FL)and *** these two mediating variables,the implementation of MCS stands out because it also enables the mediating effect of CEOs’risk-taking in the CFL–technological innovation *** the results do not support the significant direct relationship between FL and risk attitude,they confirm an indirect effect through ***,based on the study findings,SMEs’directors and owners,business associations,and public authorities can improve SMEs’technological innovation by implementing training programs and policies to foster *** can also acknowledge the interdependency between organizational factors and individual characteristics to enhance SMEs’technological innovation.