Relationship between financial literacy and entrepreneurial intention: evidence from nursing students in bono east region

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The study investigates the relationship between financial literacy and entrepreneurial intention of nursing students in the Bono East Region of Ghana. This study adopted both descriptive and explanatory research designs. The study was conducted among students of Krobo Nursing Training College and Community Health Nursing Training College; Techiman Midwifery and Nursing Training College; and Kintampo College of Health. A sample size of 337 were selected for the study using the determination of sample size from the tables proposed by Krejcie and Morgan (1970). The simple random sampling technique was adopted for the selection of the respondents. The data analysis was based on both descriptive and inferential analysis. Results from the study indicated a positive relationship between financial attitude, financial behaviour, financial knowledge and entrepreneurial intention such that financial literacy predict 47.6% increment in entrepreneurial intention. Financial attitude, financial behaviour and financial knowledge positively predict entrepreneurial intention. Financial literacy was also found to be predicted by financial knowledge, financial behaviour and financial attitude. There was a positive and significant relationship between the factors (financial knowledge, financial behaviour and financial attitude) and financial literacy such that the factors predicted almost 50.9% of financial literacy of the students. Also, the study found that that students prefer to take up jobs in the public sector than to be self-employed and also have the notion that it is not easy for everyone to start a business. Findings revealed that the level of students entrepreneurial attitude, perceived social norm and perceived behavioural control were all low. It is therefore recommended that Government of Ghana, in conjunction with various stakeholders and experts in the educational sector, are also encouraged to work on developing a national policy on financial literacy. The policy should find out a way of incorporating financial literacy into the health educational system. The policy should then provide a framework and a plan to improve financial literacy in the short, medium, and long term of students and graduates from the health sector
A thesis submitted to the Institute of Distance Learning, Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirements for the degree of Master of science in accounting and finance