Financial literacy innovation is mediated by financial attitudes and lifestyles on financial behavior in MSME players

Carolina Ety Widjayanti (), Wiwiek Rabiatul Adawiyah and Sudarto
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Carolina Ety Widjayanti: Doctorate in Management, Faculty of Economics and Business, Universitas Jenderal Soedirman
Wiwiek Rabiatul Adawiyah: Doctorate in Management, Faculty of Economics and Business, Universitas Jenderal Soedirman
Sudarto: Doctorate in Management, Faculty of Economics and Business, Universitas Jenderal Soedirman

Journal of Innovation and Entrepreneurship, 2025, vol. 14, issue 1, 1-15

Abstract: Abstract Many MSME players do not have basic knowledge about financial management, such as cash flow management, financial recording, and understanding financial products. This deficiency makes them vulnerable to errors in financial decision making, such as inefficient use of loans or inappropriate investments. This research aims to analyze financial literacy innovations on the financial behavior of MSME players with the mediation of financial attitudes and lifestyle. By understanding the relationship between financial literacy, financial attitudes and lifestyle, as well as their impact on financial behavior, it is hoped that it can provide a more comprehensive insight into how MSMEs operate. The sample used in this research was 382 MSMEs in Banyumas Regency, using SEM PLS as a tool for analysis and research. The results of this research are that financial literacy influences behavioral finance. Financial literacy influences financial attitude. Financial literacy influences lifestyle. Financial attitude mediates financial literacy towards behavioral finance and lifestyle mediates financial literacy towards behavioral finance.

Keywords: Financial literacy innovation; Financial attitude; Lifestyle; Financial behavior; MSME players (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1186/s13731-025-00525-5

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