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This study analyzes the influence of government subsidies (GS), government policy awareness (GPA), financial literacy (FL) and perceived financial benefits (PFB) on consumer adoption of green finance products (CA). As the demand for sustainable financial solutions is increasing globally, It is import to understand various factors that are driving consumer behavior toward green finance adoption. To analyze these relationships, a quantitative approach has been adopted, where with the help of structural equation modeling (SEM) the data collected for 392 respondants has been analyzed for diverse customers. The results of the study shows that perceived financial benefits has an significant influence on promoting consumer adoption of green finance products. Whereas Government subsidies, policy awareness and Financial Literacy indirectly impact adoption, which are mediated by perceived financial benefits. Although government subsidies alone were not found to significantly influence adoption behavior directly, their effect is enhanced when combined with financial literacy and policy awareness. These findings suggest that financial literacy programs and increased policy awareness can increase the effectiveness of government incentives in fostering green finance adoption. The study concludes with recommendations for policymakers to develop multi-faceted strategies that include financial education, targeted subsidies, and clear policy communication to promote sustainable financial behaviors.

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To Study the Impact of Government Subsidies, Financial Literacy, and Policy Awareness in Consumer Adoption of Green Finance with the Mediating Effect of Perceived Financial Benefits—SEM Analysis

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  • 发表日期：

    2025年

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  • Neerupa Chauhan,
  • Reenu Mohan,
  • Panduranganagouda Honnali,
  • S. Gokilavani,
  • Mallikarjun Biradar

摘要

This study analyzes the influence of government subsidies (GS), government policy awareness (GPA), financial literacy (FL) and perceived financial benefits (PFB) on consumer adoption of green finance products (CA). As the demand for sustainable financial solutions is increasing globally, It is import to understand various factors that are driving consumer behavior toward green finance adoption. To analyze these relationships, a quantitative approach has been adopted, where with the help of structural equation modeling (SEM) the data collected for 392 respondants has been analyzed for diverse customers. The results of the study shows that perceived financial benefits has an significant influence on promoting consumer adoption of green finance products. Whereas Government subsidies, policy awareness and Financial Literacy indirectly impact adoption, which are mediated by perceived financial benefits. Although government subsidies alone were not found to significantly influence adoption behavior directly, their effect is enhanced when combined with financial literacy and policy awareness. These findings suggest that financial literacy programs and increased policy awareness can increase the effectiveness of government incentives in fostering green finance adoption. The study concludes with recommendations for policymakers to develop multi-faceted strategies that include financial education, targeted subsidies, and clear policy communication to promote sustainable financial behaviors.