Digital Financial Literacy and Entrepreneurial Resilience of Women Entrepreneurs: A Moderated Model of Overconfidence

Resilience has been known as an essential element in sustaining women’s entrepreneurship in MSMEs in developing countries. This study aims to investigate the influence of digital financial literacy on entrepreneurial resilience and the impact of overconfidence in this relationship on female entrepreneurs in Indonesia. A total of 494 women entrepreneurs from MSME participated in this cross-sectional survey. Before examining the proposed relationships, CFA was used to evaluate the quality of the measurements. While controlling for demographic characteristics, the impacts of digital financial literacy, overconfidence, and their interactions are assessed using multiple regression analysis and the PROCESS Macro Ver. 4.2 for SPSS. The results emphasize the significance of digital financial literacy and overconfidence in enhancing the resilience of women entrepreneurs. Furthermore, the findings indicate that entrepreneurs with high overconfidence are more adept at leveraging their digital financial literacy to foster greater resilience.