Impact of Mobile Money Adoption on Financial Inclusion in Sri Lanka: Mediating Impact of Hedonism

Mobile money adoption and financial inclusion

Key finding of the study

There is a significant relationship between mobile money adoption and financial inclusion which is mediated by hedonism, in SMEs in Sri Lanka.

Authors

N.J.  Dewasiri, Department of Accountancy and Finance, Sabaragamuwa University of Sri Lanka, Belihuloya, Sri Lanka

P.K.A. Kumara, Department of Accountancy and Finance, Sabaragamuwa University of Sri Lanka. Belihuloya, Sri Lanka

S.H.M.L. Walakumbura, Department of Accountancy and Finance, Sabaragamuwa University of Sri Lanka. Belihuloya, Sri Lanka

M.S.H. Rathnasiri, Department of Accountancy and Finance, Sabaragamuwa University of Sri Lanka. Belihuloya, Sri Lanka

P.G.S.A. Jayarathne,  Department of Marketing, Sri Lanka Institute of Information Technology, Malabe, Sri Lanka

Summary

This study uses hedonism as a mediating variable to examine the relationship between mobile money adoption and financial inclusion in Sri Lankan small- and medium-sized businesses (SMEs). We conducted a quantitative research study utilizing a survey strategy and distributing standardized questionnaires to 150 SMEs in Sri Lanka using a simple random sampling technique. According to our analysis, a significant relationship exists between mobile money adoption and financial inclusion in SMEs in Sri Lanka. Furthermore, we found that this relationship is mediated by hedonism, offering insights into the phenomenon. Our study contributes to existing literature in two key ways. Firstly, it addresses a significant research gap by examining the impact of mobile money use on financial inclusion among SMEs in Sri Lanka. Secondly, we introduce the concept of hedonism as a potential mediator, providing a fresh perspective on the complex dynamics that shape the relationship between mobile money adoption and financial inclusion in this context.

Published in

Journal of Money and Business

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