FINANCIAL LITERACY LEADING TO FINANCIAL TECHNOLOGY: A STRUCTURAL EQUATION MODEL APPROACH
DOI:
https://doi.org/10.1956/jge.v22i3.884Keywords:
Financial Technology, Financial Knowledge, Financial Attitude, Financial Behavior, Systematic Equation ModelAbstract
Financial technology (Fintech) has important role in managing the finances. It is a technological innovation and is mostly related to the financial literacy. It plays a Vitol role in the financial Inclusion. Financial technology has replaced the traditional banking system. It is the need of the hour to educate women about the financial literacy and adoption of financial technology. The study will use structural equation model after confirmatory factor analysis with the sample of 404 which was collected through different women residing in Urban and Rural areas. Women are important contributors to the economy and they also manage finances in long term. The test was conducted using the JAMOVI Software. The study extends theory of Acceptance Model and theory of planned behavior to study the effect of latent variable for financial technology. There are three latent variables financial attitude, financial behavior and financial knowledge and the outcome variable is usage of financial technology. The study finds out that the respondents who are having high financial knowledge have strong influence on Fintech adoption where Financial Attitude and financial behavior does have influence on fintech but not much as financial knowledge
References
References
[1] Beck, T. 2020. Fintech and Financial Inclusion: Opportunities and Pitfalls. ADBI WorkingPaper1165.Tokyo:AsianDevelopmentBankInstitute,retrivedfrom https://www.adb.org/sites/default/files/publication/623276/adbi-wp1165.pdf
[2] AlSuwaidi, R. A., & Mertzanis, C. (2024). Financial literacy and FinTech market growth around the world. International Review of Financial Analysis, 95, 103481.
[3] Golden, W., & Cordie, L. (2022). Digital Financial Literacy. Adult Literacy Education: The International Journal of Literacy, Language, and Numeracy, 4(3), 20–26. https://doi.org/10.35847/WGolden.LCordie.4.3.20
[4] Morgan, P. J. (2021). Fintech, financial literacy, and financial education. The Routledge Handbook of Financial Literacy, 239–258.
[5] Junianto, Yopy Junianto & Kohardinata, Cliff. (2021). Financial Literacy Effect and Fintech in Investment Decision Making. Primanomics : Jurnal Ekonomi & Bisnis. 19. 168. 10.31253/pe.v19i1.515.
[6] Senyo, P., & Osabutey, E. L. C. (2020). Unearthing antecedents to financial inclusion through FinTech innovations. Technovation, 98, 102155. https://doi.org/10.1016/j.technovation.2020.102155
[7] Yoshino, N., Morgan, P. J., & Long, T. Q. (2020). Financial literacy and fintech adoption in Japan (Working Paper No. 1095). ADBI Working Paper Series. https://www.econstor.eu/handle/10419/238452
[8] The jamovi project (2024). jamovi. (Version 2.6) [Computer Software]. Retrieved from https://www.jamovi.org.
[9] R Core Team (2024). R: A Language and environment for statistical computing. (Version 4.4) [Computer software]. Retrieved from https://cran.r-project.org. (R packages retrieved from CRAN snapshot 2024-08-07)
[10] Rosseel, Y., et al. (2023). lavaan: Latent Variable Analysis. [R package]. Retrieved from https://cran.r-project.org/package=lavaan.
[11] Epskamp, S. (2022). semPlot: Path Diagrams and Visual Analysis of Various SEM Packages' Output. [R package]. Retrieved from https://cran.r-project.org/package=semPlot.
[12] Gallucci, M., Jentschke, S. (2021). SEMLj: jamovi SEM Analysis. [jamovi module]. For help please visit https://semlj.github.io/.
[13] Rosseel, Y. (2019). lavaan: An R Package for Structural Equation Modeling. Journal of Statistical Software, 48(2), 1-36. link.
[14] Ajzen, Icek. (1991). The Theory of Planned Behavior. Organizational Behavior and Human Decision Processes. 50. 179-211. DOI :-10.1016/0749-5978(91)90020-T.
[15] Davis, Fred. (1987). User acceptance of information systems : the technology acceptance model (TAM).
Downloads
Published
Issue
Section
License
Copyright (c) 2026 Journal of Global Economy
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
