Modeling the Effect of Financial Literacy and Inclusion on MSME Sustainability Through Financial Management
DOI:
https://doi.org/10.47065/arbitrase.v6i2.2522Keywords:
Financial Literacy; Financial Inclusion; Financial Management; MSME SustainabilityAbstract
This study investigates the influence of financial literacy and financial inclusion on the sustainability of micro, small, and medium enterprises (MSMEs) in Mamuju Regency, with financial management as a mediating variable. Data were collected from 112 MSME respondents and analyzed using Partial Least Squares (SmartPLS). The results reveal that financial literacy (? = 0.452, p < 0.001) and financial inclusion (? = 0.417, p < 0.001) both have significant positive effects on sustainability. Moreover, financial management emerged as the most influential factor (? = 0.779, p < 0.001) and significantly mediates the effects of both financial literacy (indirect ? = 0.353, p < 0.001) and financial inclusion (indirect ? = 0.325, p < 0.001) on sustainability. These findings highlight that while knowledge and access are crucial, effective financial management is the key mechanism through which MSMEs can achieve long-term sustainability. The study contributes to the literature by clarifying the mediating role of financial management and offers practical recommendations for strengthening MSME financial practices and policies.
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