Financial Literacy and Its Impact on MSEs Performance: A Mediating Role of Financial Self-efficacy

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Observational analysis highlights financial self-efficacy's mediating role on MSE business performance, suggesting educational initiatives.

Financial literacy positively influences financial self-efficacy, and in turn, business performance among MSEs.
The study examined 398 MSE entrepreneurs, revealing significant relationships among financial literacy, self-efficacy, and performance.
Using partial least squares structural equation modelling, the research assessed the impact of financial knowledge and confidence on success.
Implications suggest that tailored training programs are necessary to address both financial education and self-efficacy for MSEs.

Panda et al. (2025) studied this question.

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Observational analysis highlights financial self-efficacy's mediating role on MSE business performance, suggesting educational initiatives.