Citation

Abdul Malik, Nur Iylia Syafiqah (2025) Development of rule of thumb financial literacy training module for women entrepreneurs in Malaysia: A quasi-experimental study. PhD thesis, Multimedia University.

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Abstract

This study developed and evaluated the effectiveness of a context specific Rule of Thumb (RoT) Financial Literacy Module designed to address the financial challenges faced by women entrepreneurs in Malaysia. This research introduces a simplified, memorable and actionable RoT module, motivated by prevailing gaps in financial knowledge and practical skills among this targeted group. The module was systematically developed through meta-analysis, content analysis, and validated via focus group discussions with the representatives of the target population ensuring both theoretical alignment and real-world relevance. Employing a quasi-experimental design, the study utilized a pre-test and post-test non equivalent control group approach involving 57 participants; 29 in the experimental group and 28 in the control group. The participants were selected through multistage cluster sampling, incorporating purposive and random elements to maintain both ecological and methodological validity. The experimental group underwent a one day training workshop using the RoT module, whereas the control group participated in a one day session based on a conventional (non-RoT) financial literacy module. The analysis indicated a statistically significant improvement in financial literacy scores within both the experimental and control groups. However, the magnitude of improvement was significantly higher in the experimental group, confirming the greater effectiveness of the RoT approach over the conventional (non-RoT) approach. Based on feedback during training, the study discovered that breakeven point, cash conversion cycle, and solvency are typically underemphasized topics in mainstream financial literacy training. However, these topics emerged as cornerstone for women entrepreneurs, highlighting crucial gaps in existing financial literacy programs. The study contributes to theory by supporting the contextualization of financial literacy frameworks; to methodology by validating training through quasi-experimental design; and to practice by offering a replicable model for implementing agencies. Ultimately, this research highlights that financial literacy programs tailored to time constrained, under resourced women entrepreneurs must prioritize simplicity, contextual fit, and actionability to have meaningful impact.

Item Type:	Thesis (PhD)
Additional Information:	Call No.: HG179 .N87 2025
Uncontrolled Keywords:	Financial literacy—Malaysia
Subjects:	H Social Sciences > HG Finance > HG179 Personal finance
Divisions:	Faculty of Business (FOB)
Depositing User:	Ms Nurul Iqtiani Ahmad
Date Deposited:	22 May 2026 09:02
Last Modified:	22 May 2026 09:02
URII:	http://shdl.mmu.edu.my/id/eprint/15910

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