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Abstract

Purpose: This study investigates the effects of financial literacy and financial technology (e-wallet usage) on the financial management practices of micro, small, and medium enterprises (MSMEs) in Palu City.


Research Method: A quantitative research design was employed using primary data collected through questionnaires administered to MSME owners. The proposed relationships were examined using Partial Least Squares Structural Equation Modeling (PLS-SEM) with WarpPLS.


Results and Discussion: The results indicate that financial literacy significantly influences MSME financial management. However, higher levels of financial knowledge do not automatically translate into more effective financial management practices. In contrast, e-wallet usage exhibits a positive but statistically insignificant effect, suggesting that digital payment adoption alone is insufficient to improve financial management. These findings reveal a persistent gap between financial capability, technology adoption, and the practical implementation of sound financial management.


Implications: Policymakers should complement financial literacy and digitalization initiatives with practical training that strengthens MSMEs' ability to integrate financial knowledge and digital technologies into everyday financial decision-making.


Originality: This study extends the MSME finance literature by simultaneously examining financial literacy and e-wallet adoption within an emerging economy context, demonstrating that digital financial technology does not necessarily enhance financial management unless supported by adequate financial capability and effective managerial application.

Keywords

financial literacy financial technology e-wallet financial management MSMEs

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How to Cite
Ananda, D. R., Pakawaru, M. I., Sugianto, S., & Rhamadhani, R. F. (2026). Financial Literacy: Its Paradoxical Effect on MSME Financial Management in the Digital Era. Advances in Taxation Research, 4(3), 172–188. https://doi.org/10.60079/atr.v4i3.954
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