Digital financial literacy, inclusion, and training as drivers of Muslim women’s entrepreneurial performance

Abstract

Purpose This study aims to develop and test an integrative framework examining how digital financial literacy, financial inclusion, entrepreneurial training and access to finance influence Muslim women’s entrepreneurial performance, with entrepreneurial self-efficacy as a mediator and socio-cultural norms as a moderator. Design/methodology/approach Survey data were collected from 441 Muslim women micro, small and medium enterprise entrepreneurs in Indonesia using purposive sampling. The proposed relationships were analyzed using Partial Least Squares Structural Equation Modeling, including mediation and moderation tests. Findings All four factors significantly improve entrepreneurial performance. Entrepreneurial self-efficacy mediates the effects of digital financial literacy and financial inclusion. Socio-cultural norms moderate only the relationship between financial inclusion and performance, indicating that digital financial skills provide a relatively independent pathway to empowerment. Research limitations/implications The cross-sectional design and purposive sampling limit causal inference and generalizability. The findings of this study mainly apply to digitally engaged women entrepreneurs. Practical implications Policymakers and financial institutions should strengthen digital financial literacy and inclusive financial systems to support women’s entrepreneurship. Originality/value This study proposes an integrated model linking resources, psychological mechanisms and socio-cultural context, highlighting the role of digital financial literacy in reducing structural and cultural constraints.

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