Article Per Year (5 Year)
p-Index From 2021 - 2026
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This Author published in this journals
All Journal Journal of Economics, Entrepreneurship, Management Business and Accounting Fundamental and Applied Management Journal
Aji Prasetyo Suyono
Institut Teknologi dan Bisnis Widya Gama Lumajang, Indonesia
Economics, Econometrics & Finance Social Sciences

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Education, Environment, and Digital Access to Financial Literacy through Self-Efficacy Aji Prasetyo Suyono; Yulian Ade Chandra; Kartika Ayu Kinanti; Nayla Iftitah Despriana; Lisa Faradianti
Journal of Economics, Entrepreneurship, Management Business and Accounting Vol 4 No 4 (2026): Volume 4, Issue 4, July 2026
Publisher : CV. Sakura Digital Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61255/jeemba.v4i4.1628

Abstract

Purpose – This study aims to examine the influence of financial education, family environment, and digital access partially on students' financial literacy, by placing financial self-efficacy as a mediating variable. Design/methodology/approach – This study employed a quantitative method with a survey approach through questionnaire distribution. Primary data were collected from the active student population in East Java. The sample was determined using the Lemeshow formula with a purposive sampling technique. Data analysis was conducted in stages using the Structural Equation Modeling–Partial Least Squares (SEM-PLS) method through SmartPLS software to test the outer model, inner model, and hypothesis testing via bootstrapping. Finding/Results – The test results show that financial education has a positive and significant direct impact on students' financial literacy. Conversely, the direct influence of family environment and digital access was shown to be insignificant on students' financial literacy. The mediation pathway of financial self-efficacy was found to fail to bridge the influence of financial education, but was found to establish a significant indirect-only relationship of family environment and digital access on financial literacy. Originality/Value – The main novelty of this study lies in the role of family environment and digital access, which were shown to have no direct role, but became very significant when intervened by the psychological mediator factor of financial self-efficacy. The main message of this study is that individual financial mental maturity is an indirect-only mediation prerequisite for successful financial literacy adoption in the digital era.
Unseen Liabilities: Conceptualizing Ghost Debt and Financial Vulnerability in BNPL Ecosystems—A Systematic Review Kartika Ayu; Firdaus Al Maidah; Aji Prasetyo Suyono
Fundamental and Applied Management Journal Vol. 4 No. 3 (2026): September
Publisher : Global Research Collaboration

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.66314/famj.v4i3.1228

Abstract

This study systematically reviews how BNPL ecosystem design interacts with information asymmetry and behavioral biases to produce what this review conceptualizes as “ghost debt,” an author-developed construct distinguished from related notions—debt opacity, hidden debt, over-indebtedness, debt stacking, financial fragility, repayment burden, and credit invisibility. Following PRISMA 2020 guidelines, a Boolean search (“buy now pay later” OR “BNPL”) was run in Scopus (TITLE-ABS-KEY field; English-language, peer-reviewed journal articles, 2010–2026) for studies addressing BNPL design, consumer decision-making, debt opacity, or financial vulnerability. Of 179 records screened, 26 studies passed dual-reviewer title/abstract and full-text screening and were retained for extraction and synthesis; additional theoretical and contextual literature was used only to interpret findings. The synthesis shows that ghost debt emerges from BNPL design features—such as installment framing that lowers total-cost salience—compounded by channel-shifting practices (e.g., BNPL-on-card) and limited credit-bureau reporting; these mechanisms disproportionately push liquidity-constrained consumers toward downstream financial distress, including overdrafts and debt stacking. This review’s principal contribution is conceptualizing ghost debt as a systemic outcome cascade integrating information-asymmetry theory, behavioral decision theory, embedded-finance infrastructure, and fragmented credit reporting, explaining how low-friction digital credit obscures cumulative financial obligations. Mitigating ghost debt requires transparency-by-design interventions—standardized point-of-sale disclosures, consumer obligation dashboards, and open-banking-enabled debt aggregation—paired with stronger regulatory oversight and integrated credit reporting, protecting financially vulnerable groups from invisible debt traps while preserving BNPL's utility for cash-flow smoothing.
Co-Authors Firdaus Al Maidah KINANTI, Kartika Ayu Lisa Faradianti Nayla Iftitah Despriana Yulian Ade Chandra