Integration Between Fintech and Industry 4.0 on Performance Efficiency ASEAN Industries Food and Beverage

In the context of the Fourth Industrial Revolution, this study examines the effects of implementing Financial Technology (FinTech) and nonFinancial Technology (nonFinTech) practices on production efficiency in the ASEAN food and beverage subsector. This study uses a sample of companies listed on the ASEAN Stock Exchange from 2018 to 2022, using financial ratio variables to assess efficiency and performance. This study uses Multivariate Analysis of Variance (MANOVA) and Multiple Regression methods, with nonprobability sampling techniques and 425 data of sample size. The findings show that manufacturing companies that have adopted FinTech show greater efficiency than nonFinTech companies. In addition, financial ratios not only receivables turnover ratio, inventory turnover ratio, debt turnover ratio, but also FinTech/NonFinTech differences collectively have positive effects on firm performance when considering control variables such as growth, firm age, leverage, and cash flow. Individually, inventory turnover ratio, debt turnover ratio, and FinTech/NonFinTech variables have a positive effect on firm performance, while receivables turnover ratio has no significant effect on firm performance.