Resilience in Times of Crisis

Abstract

Because of the crisis, businesses face situations of declining revenues and increasing expenses that impact directly their financial situations. Despite all the efforts states make in terms of exemptions and financial subsidies, business leaders will have to change their investment and financing decisions. This highlights the importance of business leaders' financial knowledge and skills, which raises the issue of financial literacy among these entrepreneurs. Financial education has been shown to influence the success of small businesses. However, issues of resilience are rarely studied from a financial literacy perspective; indeed, the relationship between the two has only been addressed in a contingent way. This research work aims to advance a conceptual framework that explains the relationship between financial literacy among entrepreneurs and their companies' performance through resilience. Based on a theoretical methodology, the authors develop research proposals to clarify the mechanisms that govern these relationships and build a conceptual model.