Open research questions in Financial Literacy and Behavior

What the literature leaves open

• 371), indicating that fintech integration alone is insufficient to guarantee the necessity of complementary managerial capabilities that enable business owners to utilize technological resources strategically.

  The Effect of Fintech Payment Integration and Cash Flow Management on the Financial Stability of Digital MSMEs in Indonesia · 2026 · DOI

• The study identified barriers and challenges that may limit the adoption of the innovated cash flow management mobile tool, particularly users’ resistance to change, trust and security concerns, limited financial literacy, and insufficient knowledge in using technology-based financial tools.

  Digital Cash Flow Management for MSMEs: Development and Assessment of a Mobile Financial Monitoring Tool in Cebu City · 2026 · DOI

• theory: China. case in A Zheng, X., Wang, Y., Zhang, Y., Deng, T., & Yang, Y. (2022). Impacts of COVID-19 Pandemic on Dietary Consumption among Chinese Residents: Evidence from Provincial-Level Panel Data. International Journal of Environmental Research and Public Health, 19(13). https://doi.org/10.3390/ijerph19137612 Vol. 5, No. 02, Mei 2026: pp.

  Analisis Behavioral Economics dan Decision Bias terhadap Pola Pengambilan Keputusan Investasi pada Investor Ritel di Indonesia · 2026 · DOI

• A limitation of this study is that it only involved accounting students at Triatma Mulya University as respondents, so the results cannot be generalized widely. Furthermore, the Adjusted R Square value of 0.480 indicates that personal financial management can only be explained by 48% of self-control, financial attitudes, and lifestyle, while the remaining 52% is influenced by other factors outside the research model. SUGGESTION Further research can expand the scope of the study by involving respondents from different regions or groups and adding other independent variables, such as financial literacy, income, and family environment, which can influence students' personal financial management. REFERENCES 1. Abdillah, N., Sa’diyah, A. M., Salwa, A. Y. A., & Setiawati, R. A. (2025a). Pengaruh Literasi Keuangan dan Sikap Keuangan Pribadi Terhadap Perilaku Keuangan Mahasiswa. PENG: Jurnal Ekonomi Dan Manajemen, 2(1b), 1854–1864. https://doi.org/10.62710/w6gv6534 Keuangan dan Sikap Keuangan Pribadi Terhadap Perilaku Keuangan Mahasiswa. PENG: Jurnal Ekonomi Dan Manajemen, 2(1b), 1854–1864. https://doi.org/10.62710/w6gv6534 3. Ajzen, I. (1991). The Theory of Planned Behavior.

  The Influence of Self Control, Financial Attitude, and Lifestyle on Personal Financial Management of Accounting Students at Triatma Mulya University · 2026 · DOI

• Future research is recommended to expand the sample, for example, to include students from other programs, faculty members, or accounting practitioners, to ensure more comprehensive findings. First, the study’s respondents were limited to accounting students at Tarumanagara University; therefore, the results cannot yet be generalized to students from other study programs or ChatGPT users in general.

  Factors Influencing Accounting Students’ Intentions to Use Generative AI (ChatGPT) · 2026 · DOI

• a. For Researchers It is recommended to expand the research objects, add other variables such as organizational culture, management commitment, or risk management systems, and use more comprehensive analysis methods in order to obtain a deeper insight. b. For the Company (especially the Kendari Branch) The company is advised to continue increasing investment in the development of digital-based audit systems in order to accelerate the inspection process and improve the accuracy of audit results. In addition, improving the quality of auditor human resources through continuous training, professional certification, and strengthening information technology competence needs to become a strategic priority. c. For Readers and Academics The results of this study can serve as an empirical reference and a source of inspiration for future researchers to develop research with different variables, approaches, or sectors. REFERENCES Arwani, A., Ramadhan, M. N., & Restiara, V. (2020). Kepemilikan manajerial dalam agency theory. Budiantoro, H., Nurrahmah, M., & Lapae, K. (2022). Pengaruh Beban Kerja, Skeptisme Profesional, dan Pengalaman Auditor dalam Mendeteksi Kecurangan dengan Pelatihan Audit Kecurangan sebagai Variabel Moderasi. Journal of Business and Economics Research (JBE), 3(3), 342–349. Choirunnisa, R., & Rufaedah, Y. (2022). Pengaruh kompetensi auditor dan pemanfaatan teknologi informasi terhadap pendeteksian fraud. Jurnal Akuntansi Trisakti, 9(1), 119–128. D’Aquila, J. (2013). COSO’s Internal Control--Integrated Framework. CPA Journal, 83(10). Gaffar, M. S., Gaffar, M. I., & SE, M. A. (2024). Transparansi Keuangan dan Peran Audit: Menghadapi Tantangan Era Digital. Takaza Innovatix Labs. Jensen, M. C., & Meckling, W. H. (2019). Theory of the firm: Managerial behavior, agency costs and ownership structure. In Corporate governance (pp. 77– 132). Gower. Moeller, R. R. (2007). COSO enterprise risk management: understanding the new integrated ERM framework. John Wiley & Sons. Nadhifah, M. S., Mahmudah, A., & Dilasari, A. P. (2024). Pengendalian Internal , Kompetensi SDM , dan Kualitas Laporan Keuangan : Peran Moderasi Audit Internal. 41(1). Nisaa, R. K., Bahrim, S. M. S., & Kustiwi, I. A. (2024). Teknologi Digital dan Transformasi Internal Audit Terhadap Perlakuan Laporan Keuangan: Studi Literatur. Jurnal Mutiara Ilmu Akuntansi, 2(2), 263–277.

  The Role of Internal Control Systems in Moderating the Effect of Audit Digitalization and Auditor Human Resource Quality on Fraud Intensity (A Study on Auditors of the Micro Capital Service Unit (ULaMM) of PT. Permodalan Nasional Madani) · 2026 · DOI

• in Management, 21(1),120–130. https://doi.org/10.21511/ppm.21(1).2023.11 Wuytens, N., Schepers, J., Vandekerkhof, P., & Voordeckers, W. (2022). Entrepreneurs can know more than they can tell: Conceptualizing and measuring tacit entrepreneurial knowledge. Frontiers in Psychology, 13, 892223.

  The Role of Experiential Financial Behavior in Promoting the Sustainability of SMEs through Endogenous Learning Mechanisms · 2026 · DOI

• weaknesses and regulatory non-compliance in Ambon City’s financial reports for fiscal years 2022– 2023 (Putra et al., 2022; BPK RI, 2024). Previous audits also reported inconsistencies in budget utilization amounting to approximately IDR 33 billion. financial reports received disclaimer opinions due to material weaknesses internal control systems and compliance issues. These conditions indicate that weaknesses in governance mechanisms may increase the risk of fraud and reduce accountability in local government financial management. In addition, several in systems irregularities, and Internal control systems and internal audits are governance mechanisms closely linked to fraud prevention. The fraud triangle theory posits that fraud arises from pressure, opportunity, and rationalization (Efunniyi et al., 2024). Of these dimensions, opportunity is the most controllable systems.

  Strengthening Public Financial Integrity Through Internal Control and Internal Audit Strategies · 2026 · DOI

• influence broader the in other with objective measures, such as audit findings or case-based data. Second, the sample was restricted to employees within the finance function in public sector organizations, which may limit the external validity of the results. This focus may not fully capture fraud dynamics functional areas or organizational types, such as private firms or small enterprises, where governance structures and control mechanisms differ significantly. Consequently, the findings are more applicable to structured and bureaucratic environments and flexible organizational contexts. Future research could address this limitation by expanding the sample across sectors and organizational levels. less generalizable to more the analysis the robustness of Third, this study employed a cross- sectional design, which inherently limits causal inference. While identifies associations between variables, it cannot fully capture dynamic or longitudinal effects, such as how changes in internal control systems or the ethical climate influence fraud over time.

  Exploring the Role of Internal Control Effectiveness, Information Asymmetry, and Individual Morality in Accounting Fraud: Insights from the Public Sector · 2026 · DOI

• Future research is recommended to expand the scope to companies with varying levels of digitalization and to adopt a mixed-methods or quantitative approach to ensure that the effectiveness of the accounting information system and internal controls can be measured more comprehensively and systematically.

  Evaluate the Effectiveness of the Inventory Accounting Information System in Supporting Internal Control · 2026 · DOI

• Given that traditional financial literacy and capability showed non-significant influences, future research should investigate other potential moderating variables, such as technological readiness, innovation capability, and entrepreneurial orientation, to develop a more comprehensive understanding of performance drivers.

  Financial literacy and environmental dynamism: The moderating role of digital financial capability on the performance of women-owned SMEs in Calapan City, Oriental Mindoro, Philippines · 2026 · DOI

• Ejo Heza saving scheme should implement practical workshops or seminars specifically designed to educate members on creating and utilizing budgets effectively. Ejo Heza saving scheme should need to develop comprehensive modules that focus on financial planning techniques. Cover aspects like setting financial goals, investment strategies, and long- term planning. Ejo Heza saving scheme is recommended to conduct specialized sessions dedicated to debt management. Offer strategies and tips for responsible borrowing, debt reduction, and smart repayment methods. Ejo Heza saving scheme need to create awareness programs that educate members on identifying and managing financial risks.

  The Effect of Financial Literacy on Ejo Heza Saving Scheme. A Case of Savers in Kicukiro District · 2024 · DOI

• Although access to the capital market has become increasingly convenient, students’ investment interest remains relatively low, while previous studies on the effects of investment knowledge, motivation, and minimum investment capital on investment interest have produced inconsistent findings.

  Pengaruh Pengetahuan Investasi, Motivasi dan Modal Minimal Investasi terhadap Minat Investasi Mahasiswa di Pasar Modal (Studi Kasus Mahasiswa ITB AAS) · 2026 · DOI

• This research employed a Research and Development (R&D) method using the ADDIE model, limited to the analysis, design, and development stages.

  Perancangan Standar Operasional Prosedur (SOP) dan Pedoman Akuntansi Pengelolaan Kas pada Raudhatul Athfal Nurul Amal Bekasi Timur · 2026 · DOI

• This study makes a methodological contribution by extending previous research through simultaneous testing and examination of mediation effects, which remain underexplored in the context of creative-industry MSMEs in Yogyakarta, Indonesia.

  Digital Financial Literacy and Sustainability: The Mediation Role of SMES' Performance · 2026 · DOI

• Therefore, future studies are recommended to increase the sample size by expanding the geographical Profit : Jurnal Kajian Ekonomi dan Perbankan Syariah Vol.

  ANALYZING GENERATION Z’S BEHAVIORAL INTENTION TOWARD ISLAMIC BANKING PRODUCTS · 2026 · DOI

• the interpretation and generalizability of findings. First, the use of self-reported questionnaire data introduces potential biases, particularly social desirability and response biases, as respondents may underreport unethical tendencies such as fraud-related behavior or overstate their moral values. This limitation may weaken the accuracy of the relationship between individual morality and the probability of fraud. To mitigate this issue, anonymity and confidentiality were ensured during the data collection process. However, future studies should complement survey data incorporate limitations influence broader the in other with objective measures, such as audit findings or case-based data. Second, the sample was restricted to employees within the finance function in public sector organizations, which may limit the external validity of the results. This focus may not fully capture fraud dynamics functional areas or organizational types, such as private firms or small enterprises, where governance structures and control mechanisms differ significantly. Consequently, the findings are more applicable to structured and bureaucratic environments and flexible organizational contexts. Future research could address this limitation by expanding the sample across sectors and organizational levels. less generalizable to more the analysis the robustness of Third, this study employed a cross- sectional design, which inherently limits causal inference. While identifies associations between variables, it cannot fully capture dynamic or longitudinal effects, such as how changes in internal control systems or the ethical climate influence fraud over time.

  Exploring the Role of Internal Control Effectiveness, Information Asymmetry, and Individual Morality in Accounting Fraud: Insights from the Public Sector · 2026 · DOI

• Many Micro, Small, and Medium Enterprises (MSMEs) in the South Cipinang Besar Flats, East Jakarta, face challenges in managing bookkeeping due to limited knowledge and lack of access to adequate recording tools.

  Financial bookkeeping training for MSMEs in South Cipinang Besar Flats, East Jakarta · 2025 · DOI

Most-cited papers in Financial Literacy and Behavior

• Individual investors’ intention towards SRI in India: an implementation of the theory of reasoned action · Social Responsibility Journal · 2020 · 60 citations
• The roles of peers and social media in building financial literacy among the millennial generation: A case of indonesian economics and business students · Cogent Social Sciences · 2021 · 50 citations
• Analysis of key factors influencing individual financial well-being using ISM and MICMAC approach · Quality & Quantity · 2022 · 38 citations
• The impact of financial literacy and financial behavior in entrepreneurial motivation – evidence from Indonesia · Cogent Education · 2023 · 27 citations
• CORPORATE GOVERNANCE, CREDIT RISK, AND FINANCIAL LITERACY FOR SMALL MEDIUM ENTERPRISE IN INDONESIA · Verslas teorija ir praktika · 2021 · 25 citations
• Using Feedback and Performance Accountability to Decrease Cash Register Shortages · Journal of Organizational Behavior Management · 2003 · 18 citations
• The Effect of Financial Literacy, Cost of Technology Adoption, Technology Perceived Usefulness, and Government Support on MSMEs' Business Resilience · GATR Global Journal of Business Social Sciences Review · 2022 · 10 citations
• Escaping the “devil's trap”: Exploring the role of online social support for fintech lending's over‐indebted Indonesian customers · International Social Science Journal · 2022 · 8 citations
• Improving financial wellbeing in Indonesia: the role of social media as a mediating factor in financial behavior · Cogent Social Sciences · 2024 · 8 citations
• Asymptotic Standard Errors of Generalized Partial Credit Model True Score Equating Using Characteristic Curve Methods · Applied Psychological Measurement · 2021 · 8 citations

Most recent work

• Financial literacy and environmental dynamism: The moderating role of digital financial capability on the performance of women-owned SMEs in Calapan City, Oriental Mindoro, Philippines · World Journal of Advanced Research and Reviews · 2026
• ARTIFICIAL INTELLIGENCE, BEHAVIORAL MECHANISM LINKING FINANCIAL LITERACY TO FINANCIAL PLANNING: A SURVEY FROM FIRST JOBBERS · Research · 2026
• Exploring Personal Financial Management Behaviour Among Generation Z in the Digital Financial Ecosystem : A Qualitative Study · IJBAMS: International Journal of Business Accounting Management Social Science · 2026
• Hedonistic Lifestyle, Self-Control, and E-Wallet Use in Relation to Student Financial Management in Malang · IJBAMS: International Journal of Business Accounting Management Social Science · 2026
• Psychological Factors and Financial Aspects Impacting EMI Adoption on Consumer Consumption · International Journal of Creative and Open Research in Engineering and Management · 2026
• Financial Behavior to Enhance Student Engagement in Cooperative Enterprise · Dinasti International Journal of Economics Finance & Accounting · 2026
• Interaksi Antara TikTok Live Streaming, Gaya Hidup dan Inklusif Keuangan dalam Membentuk Perilaku Keuangan Mahasiswa Akuntansi UNWIRA Kupang · AKUNTANSI 45 · 2026
• Perceived Effectiveness, Challenges, and Recommendations on the Digitalization of Financial Management through Electronic New Government Accounting System · International Journal of Sustainability and Advanced Integrated Research · 2026
• Pendampingan Penyusunan Laporan Keuangan Musholla Nurul Huda Sebagai Upaya Meningkatkan Akuntabilitas Pengelolaan Dana Umat · JBIMA Jurnal Pengabdian kepada Masyarakat · 2026
• The Influence of Knowledge and Financial Attitudes on The Financial Management Behavior of Faculty of Economics and Business Students at Tadulako University Moderate by Digital Literacy · Jurnal Manajemen Motivasi · 2026

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