THE ROLE OF FINANCIAL LITERACY AND HEDONIC VALUE IN THE INTENTION TO BORROW MONEY
Keywords:
Generation Z, Fintech Lending, Theory of Planned Behavior, Financial Literacy, Hedonic ValueAbstract
Introduction : This study aims to examine the factors influencing borrowing intention through fintech lending services among Generation Z in the Special Region of Yogyakarta, Indonesia.
Research Methods : Utilizing the Theory of Planned Behavior model with financial literacy and hedonic value as moderating variables, this research involves 196 fintech lending apps users. The data are collected through surveys and are analyzed by using Partial Least Squares Structural Equation Modelling (PLS-SEM) method.
Finding/Results : The results show that attitude toward behavior (ATB) and subjective norms (SN) positively influence borrowing intention (BI) through fintech lending services among Generation Z in Yogyakarta, while perceived behavioral control (PBC) does not. Gen Z’s intention to borrow money through fintech lending services are determined by their perceived attitude and social expectations. Financial literacy (FL) can serve as a moderating variable in explaining the effect of SN and PBC on BI. FL strengthen the effect of PBC on BI, but decreases the effect of SN on BI. On the other hand, hedonic value (HV) reinforces the effect of ATB on BI. This study contributes to understanding the financial behavior of Generation Z in the digital era and implications for the development of more effective marketing strategies for fintech lending services.
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