Unlocking SME Potential: The Role of Digital Financial Innovations and Human Capital in Enhancing Performance
2
조회
0
다운로드
0
인용
0
참고문헌
키워드
초록
Purpose: This study examines the impact of digital financial innovations and human capital on the performance of small and medium-sized enterprises (SMEs). Design/methodology/approach: Based on a quantitative analysis of 421 responses from SMEs in Thailand, the research employs structural equation modeling to uncover key relationships. Findings: The findings reveal that digital financial innovation significantly enhances SME performance, while human capital exerts a strong positive influence and mediates the relationship between digital finance and performance. The results emphasize the critical role of a skilled workforce in maximizing the benefits of digital financial tools. Additionally, firm size is shown to positively influence SME performance, highlighting the resource advantages of larger SMEs. Furthermore, firm size moderates the relationship between digital financial innovation and performance, with smaller SMEs gaining greater relative benefits from these innovations. Research limitations/implications: Policymakers and businesses are advised to enhance accessibility to digital financial tools, prioritize employee training, and tailor support programs to the specific needs of SMEs of varying sizes. This integrated approach promises to boost SME performance, improve competitiveness, and drive economic growth. Originality/value: The study underscores the need for a strategy to support SMEs, including the promotion of digital finance through open innovation, investments in human capital, and targeted growth strategies.
Abstract
Purpose: This study examines the impact of digital financial innovations and human capital on the performance of small and medium-sized enterprises (SMEs). Design/methodology/approach: Based on a quantitative analysis of 421 responses from SMEs in Thailand, the research employs structural equation modeling to uncover key relationships. Findings: The findings reveal that digital financial innovation significantly enhances SME performance, while human capital exerts a strong positive influence and mediates the relationship between digital finance and performance. The results emphasize the critical role of a skilled workforce in maximizing the benefits of digital financial tools. Additionally, firm size is shown to positively influence SME performance, highlighting the resource advantages of larger SMEs. Furthermore, firm size moderates the relationship between digital financial innovation and performance, with smaller SMEs gaining greater relative benefits from these innovations. Research limitations/implications: Policymakers and businesses are advised to enhance accessibility to digital financial tools, prioritize employee training, and tailor support programs to the specific needs of SMEs of varying sizes. This integrated approach promises to boost SME performance, improve competitiveness, and drive economic growth. Originality/value: The study underscores the need for a strategy to support SMEs, including the promotion of digital finance through open innovation, investments in human capital, and targeted growth strategies.