Financial Literacy, Digital Payment Adoption, and Trust in Advancing MSME Growth

Zuna Desta Maya; Yunaita Rahmawati

doi:10.69725/jebi.v2i2.270

Authors

Zuna Desta Maya Department of Sharia Accounting, Faculty of Islamic Economics and Business, State Islamic Institute of Ponorogo, Ponorogo, Jawa Timur, 63492, Indonesia
Yunaita Rahmawati Department of Sharia Accounting, Faculty of Islamic Economics and Business, State Islamic Institute of Ponorogo, Ponorogo, Jawa Timur, 63492, Indonesia

DOI:

https://doi.org/10.69725/jebi.v2i2.270

Keywords:

Entrepreneurial Agility, Dynamic Capabilities, Digital Transformation, Strategic Growth, Institutional Support

Abstract

Purpose: This research aims to explore its core mechanisms of enterprise firm expansion by focusing on three natures-relational capitals, foundational managerial resources and technological adoption. It is distinct in that it examines the mediating impact of one important dynamic capability and the contextual effect of institutional support.
Method: Research is a quantitative cross-sectional survey design. Results were obtained from data collected from a stratified sample of senior managers and analyzed with state-of-the-art statistical techniques, such as structural equation modeling and conditional process analysis for testing the hypothesized direct, mediating, or moderating relations.
Findings: The findings indicate that financial skill, the adoption of digital financial instruments as well as strong personal relationships strongly facilitate growth. This effect is not direct and is completely mediated by the firm’s ability to be an agile entrepreneurship. In addition, public institutions exert positive moderating effects on these relationships, making the associations between core resources and strategic agility significant.
Novelty: The research provides a new conceptual integrative model that explains the how and when of business growth. By going beyond contrived direct-effect models, we empirically identify a core dynamic capability as the key mediating process and institutional resources as an important boundary condition to offer insight into the functioning of strategic success.
Implications: We offer actionable implications for managers: how they can strategically develop agility based on knowledge, technology and relational assets. For policy makers, the analysis highlights the need for institution and facilitative framework development to enhance the impact that firm-level resources generate towards competitive performance and economic resilience.

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Author Biographies

Zuna Desta Maya, Department of Sharia Accounting, Faculty of Islamic Economics and Business, State Islamic Institute of Ponorogo, Ponorogo, Jawa Timur, 63492, Indonesia

Zuna Desta Maya is a dedicated student at the Sharia Accounting Study Programme, Faculty of Economics and Islamic Business, Institut Agama Islam Negeri Ponorogo. Her academic studies focus on the integration of Islamic financial principles with contemporary accounting practices, with a particular research interest in improving financial literacy and digital technology adoption among micro enterprises. As a young researcher, Zuna actively explores how sharia values can strengthen business resilience and build consumer trust. Through her commitment to knowledge development, she aspires to contribute to advancing a sustainable and inclusive Islamic economic ecosystem in Indonesia.
Yunaita Rahmawati, Department of Sharia Accounting, Faculty of Islamic Economics and Business, State Islamic Institute of Ponorogo, Ponorogo, Jawa Timur, 63492, Indonesia

Dr. Yunaita Rahmawati is a renowned academic and researcher at the Institut Agama Islam Negeri Ponorogo, specialising in Sharia Accounting. Many of her scientific works discuss Islamic financial reporting standards, governance of Islamic financial institutions, and Islamic micro-enterprise development. Her research not only contributes significantly to the scientific field, but also offers practical solutions for policy makers and industry players. As an educator, Dr Yunaita is committed to transferring the values of Islamic business ethics and fostering a new generation of Islamic accountants who are competent and have high integrity.

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