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Cited by 141FinTech, Crowdfunding, Digital FinanceTechnology Adoption and User BehaviourFinancial Literacy and Behavior

FinTech in the Small Food Business and Its Relation with Open Innovation

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Najib, Mukhamad, Ermawati, Wita Juwita, Fahma, Farah, Endri, Endri, Suhartanto, Dwi·2021·Journal of Open Innovation: Technology, Market, and Complexity
DOI 10.3390/joitmc7010088
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Abstract

Small food businesses have difficulty accessing banks for financing.The growth of the sharing economy through financial technology (FinTech) makes it possible for small enterprises to receive access for credit.However, not all small business owners want to receive financing from FinTech companies.This study aims to analyze factors affecting FinTech adoption in small enterprises and its impact on business sustainability.The modified UTAUT 2 model was applied in this study.There were 184 small food business owners participating as respondents.To analyze the causal relationship between variables, Structural Equation Modeling (SEM) was implemented.The results of the research found that knowledge, safety perceptions, performance expectations, social influence, facilitation conditions and price values affect FinTech adoption by small food business owners.Moreover, FinTech adoption influences small food business sustainability.Several important recommendations for researchers, the FinTech industry and policy makers are formulated.

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Authors
Najib, M., Ermawati, W. J., Fahma, F., Endri, E., & Suhartanto, D.
Affiliations
  • IPB University (ID)
  • Mercu Buana University (ID)
  • Politeknik Negeri Bandung (ID)
Corresponding author
Najib, Mukhamad
ORCID
Venue
Journal of Open Innovation: Technology, Market, and Complexity
Publisher
Elsevier BV
Published
2021-03
Volume
7
Issue
1
Pages
88
ISSN
2199-8531 (ISSN-L)
DOI
10.3390/joitmc7010088
OpenAlex
W3135628843
Cited by
141
References
79
Citations by year
2026: 14 · 2025: 34 · 2024: 34 · 2023: 33 · 2022: 21 · 2021: 5
FWCI
22.98
Type
journal article
Language
en
Open access
Licence
Locations
  • Journal of Open Innovation Technology Market and Complexity (publishedVersion, cc-by-nc-nd)
  • RePEc: Research Papers in Economics (submittedVersion)
  • DOAJ (DOAJ: Directory of Open Access Journals) (submittedVersion, cc-by-sa)
  • Econstor (Econstor) (submittedVersion, cc-by)
Topics
  • Social Sciences › Business, Management and Accounting › Management Information Systems › FinTech, Crowdfunding, Digital Finance
  • Social Sciences › Decision Sciences › Information Systems and Management › Technology Adoption and User Behaviour
  • Social Sciences › Business, Management and Accounting › Accounting › Financial Literacy and Behavior
Keywords
fintech adoption, small food business, open innovation, corporate sustainability, UTAUT2, access to credit, small business financing, perceived safety, social influence, facilitating conditions, price value

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