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The current study develops a framework to understand how Micro, small, and medium enterprises (MSMEs) adopt digital finance based on governance and risk management. The framework is based on the Technology Acceptance Model (TAM), Use of Technology (UTAUT), and Diffusion of Innovation (DOI) models. Adoption theories have been developed to include key elements such as trust, perceived risk, and digital literacy. Governance links individual adoption behavior with institutional oversight and control mechanisms. By linking the adoption theories of users with governance perspectives, the model offers a comprehensive vision that spans the initials of acceptance through to post-adoption employ and oversight. The academic contribution is a novel integration of multiple models that have typically been utilized independently. Authors of the present study prepare a conceptual model that not only combines the adoption and governance domains but also assists the analysis of post-adoption outcomes, providing valuable insight into the sustained use of technology and risk management for different digital finance initiatives of MSMEs.
Bhowmik et al. (Thu,) studied this question.