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All Journal Al-Kharaj: Journal of Islamic Economic and Business
Muryani Arsal
Master of Management Program, Graduate School, Universitas Muhammadiyah Makassar
Economics, Econometrics & Finance

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The Impact of Digital Financial Literacy on MSME Sustainability Performance through Green Investment among MSMEs in South Sulawesi Khusnul Khatimah; Muryani Arsal; Ismail Badollahi
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 3 (2026): All articles in this issue include authors from 3 countries of origin (Indonesi
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i3.12319

Abstract

This study aims to analyze the influence of digital financial literacy on the sustainability performance of MSMEs, the influence of digital financial literacy on green investment, the influence of green investment on MSME sustainability performance, and the role of green investment as a mediating variable in the relationship between digital financial literacy and MSME sustainability performance within the context of the circular economy. A quantitative approach was employed, utilizing a survey method involving 343 MSME owners in South Sulawesi Province selected through purposive sampling. Data were collected via questionnaires and analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS) with the aid of SmartPLS 4.0. The results indicate that digital financial literacy has a positive and significant effect on both MSME sustainability performance and green investment. Green investment also positively and significantly affects MSME sustainability performance and mediates the relationship between digital financial literacy and MSME sustainability performance. The findings confirm that enhancing digital financial literacy encourages the adoption of green investment, which ultimately improves MSME sustainability performance. These results are expected to provide valuable insights for the government, financial institutions, and MSME owners in supporting digital transformation and the implementation of sustainable business practices.
Co-Authors Badollahi, Ismail Khusnul Khatimah