<![CDATA[Women-owned culinary Micro, Small, and Medium Enterprises (MSMEs) in Makassar City play an important role in local economic growth, women’s entrepreneurship, and the transition toward low-carbon urban development. However, the adoption of green business models in this sector remains challenging because environmentally oriented practices often require financial capability, managerial readiness, and practical knowledge. This study aims to examine the effect of women’s knowledge sharing on green business model adoption, with financial literacy as a mediating variable. A quantitative explanatory design was applied using a cross-sectional survey of 250 women owners or main managers of culinary MSMEs in Makassar City. Respondents were selected through purposive sampling based on business role, length of operation, and involvement in business interaction networks. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The findings show that women’s knowledge sharing has a positive and significant effect on financial literacy, while financial literacy has a positive and significant effect on green business model adoption. However, the direct effect of women’s knowledge sharing on green business model adoption is not significant. The mediation test confirms that financial literacy fully mediates the relationship between women’s knowledge sharing and green business model adoption. These findings indicate that social and digital knowledge-sharing networks can support green business transformation when the shared knowledge is translated into financial capability. The study contributes to the literature on women’s entrepreneurship, knowledge sharing, financial literacy, and sustainable business models by demonstrating the central role of financial literacy in connecting social learning with green business decisions.]]>
