Literasi Keuangan, Penggunaan Fintech, dan Inklusi Keuangan Terhadap Kinerja Keuangan Usaha: Peran Mediasi Kapabilitas Usaha

Abstract

Amid increasingly complex market dynamics and accelerating technological digitalization, Micro, Small, and Medium Enterprises (MSMEs) are required not only to sustain quantitative survival but also to enhance governance quality consistently. This study aims to analyze the impact of Financial Literacy, Financial Technology (Fintech) Usage, and Financial Inclusion on the Business Financial Performance of young entrepreneurs in Sukoharjo Regency, while examining the mediating role of Business Capability. This quantitative explanatory study employed a cross-sectional design with purposive sampling, analyzing 600 valid responses from young entrepreneurs aged 20–40 operating active businesses for at least one year in Sukoharjo Regency. Data analysis was conducted using Partial Least Squares Structural Equation Modeling (SEM-PLS) via SmartPLS 3 software. The empirical results demonstrate that Financial Literacy and Fintech Usage exert a positive and significant direct effect on both Business Capability and Perceptual Financial Performance. In contrast, Financial Inclusion significantly affects Financial Performance directly but has an insignificant direct effect on Business Capability. Mediation testing confirms that Business Capability functions effectively as an internal mediating mechanism bridging Financial Literacy and Fintech Usage toward business Financial Performance. The theoretical implications reinforce the Resource-Based View (RBV) framework, highlighting that external resources require internal managerial capabilities to drive sustainable enterprise performance.