Digital Financial Literacy, Financial Technology Adoption, and MSME Financial Management on Financial Well-Being with Financial Resilience as an Intervening Variable in Generation Z MSME Actors
Abstract
This study aims to analyze the influence of Digital Financial Literacy, Financial Technology Adoption, and MSME Financial Management on Financial Well-Being with Financial Resilience as an intervening variable in Generation Z MSME actors in Medan City. This study uses a quantitative approach with the Structural Equation Modeling-Partial Least Squares (PLS-SEM) method. The research population is Generation Z MSME actors in Medan City with an unknown population. The sampling technique used purposive sampling with a minimum of 200 respondents who met the research criteria. Data was collected through an online questionnaire using a Likert scale of 1–5. The results of the study show that digital financial literacy, financial technology adoption, and MSME financial management have a positive and significant effect on financial resilience. Furthermore, financial resilience and digital financial literacy have a positive and significant effect on financial well-being, while financial technology adoption and financial management of MSMEs do not have a significant direct effect on financial well-being. In addition, financial resilience has been shown to significantly mediate the influence of three independent variables on financial well-being. Improving the financial welfare of Generation Z MSME actors is not only determined by the ability to utilize financial technology, the level of digital financial literacy, and business financial management, but also by the ability to build financial resilience in the face of various economic risks and uncertainties.
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EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
