Exploring fintech adoption intentions among culinary micro, small and medium enterprises post COVID-19: Moderating role of fintech knowledge
Abstract
Prior research has failed to document an integrated model from UTAUT2 and diffusion innovation theory to explain the intention of fintech adoption among culinary micro, small, and medium enterprises (MSMEs) post-COVID-19. This study investigates the factors affecting the fintech adoption intentions of MSMEs and determines the role of fintech knowledge as a moderating variable. Two hundred ninety one (291) culinary MSMEs from four locations in West Sumatra, Indonesia, participated in this survey. In addition, the SEM-PLS is employed to analyse the significant factors influencing fintech adoption among culinary MSMEs. Model evaluation is conducted to achieve a good-fitting model. The results show five direct relationships between factors and fintech adoption intentions: effort expectancy, social influence, facility condition, price value, and fintech knowledge. In addition, fintech knowledge moderates the relationship between performance expectancy and fintech adoption intentions. In this case, fintech knowledge strengthens the association between performance expectancy and fintech adoption intentions. Thus, fintech knowledge also plays as a moderating variable between effort expectancy and fintech adoption intentions. The finding is relevant to the government program aimed at increasing the fintech knowledge of culinary MSMEs. Fintech companies can improve the expectancy effort, facility condition, social influence, and price value to boost the intention to adopt Fintech. Theoretically, this study contributes to the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) and diffusion of innovation theory.
Acknowledgements
Our paper is funded by the Ministry of Education, Culture, Research and Technology, Republic of Indonesia (no. 186/E5/PG.02.00.PT/2023).
We acknowledge the Directorate of Higher Education, the Ministry of Education, Culture, Research and Technology, Republic of Indonesia, for research funding. We would also like to extend our gratitude to the Rector of Universitas Ekasakti and Universitas Bung Hatta, as well as the anonymous reviewers of this article, for their constructive suggestions.
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