Toward a unified understanding of corporate financial literacy: development of an integrative framework and identification of research gaps
Year: 2026
Type: article
Study design: Systematic Review
Abstract: Corporate financial literacy (CFL) has become increasingly critical for firms seeking to strengthen financial decision-making and overall performance. Although academic interest in CFL is growing, the field remains theoretically underdeveloped and lacks a unified conceptual foundation. To address this gap, this study conducts a bibliometric analysis of 1,018 publications (2014–2024) and a systematic literature review (SLR) of 47 articles, both following PRISMA guidelines. The main contribution is the development of an integrative framework that consolidates existing theoretical bases, incorporates newly identified individual and corporate measurable dimensions, and expands consideration of external contextual variables. Thus, it proposes a comprehensive definition of CFL that supports its conceptual coherence, as well as proposing the core components of CFL, structuring its causal pathways and, therefore, providing the foundations for more rigorous empirical research. It additionally underscores how stronger CFL can generate organizational benefits, including improved financial management, enhanced decision-making, better access to finance, and overall performance gains. Finally, several avenues for future research are identified based on gaps revealed in the literature, offering guidance for advancing this emerging field.
Source: Cogent Business & Management
Institution: Mondragon Unibertsitatea
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: gold
Estimated APC paid: $1,165
OpenAlex ID: W7154684656