Digital financial inclusion through electronic invoicing: A path towards the formalization of msmes in the central region of peru through a multiple linear regression analysis

Abstract

In Peru, micro and small enterprises (MSEs) form the backbone of the economy. However, the reality is that this sector is characterized by informality, especially in more remote areas. Faced with this reality and the advancement of digital transformation, various digital financial services now exist that effectively contribute to the inclusion of these MSEs within the financial system through the payment and receipt of transfers, the issuance of electronic receipts and invoices, and the payment of tax obligations. The main objective of this research is to analyze the effect of digital financial inclusion and the adoption of electronic invoicing on the level of formalization of MSEs in the Junín region. This research is quantitative, non-experimental, and cross-sectional, with an explanatory design. Multiple linear regression was used for statistical analysis, with a sample of 381 formally registered micro and small enterprises (MSEs) in the provinces of Huancayo, Tarma, Satipo, and Chanchamayo. Data was collected using a structured questionnaire and analyzed using standard econometric techniques The results obtained demonstrate that the adoption of electronic invoicing in SMEs has positive and significant effects on their level of formalization. It was also observed that the adoption of both tools generates a complementary effect greater than that of either tool alone. These results highlight the importance of integrating digital innovation policies, financial education, and tax simplification as a strategy to promote formalization. This research contributes new knowledge to previous studies on business formalization, as it is analyzed using multivariate evidence within a specific context and offers results that can be used to improve and strengthen formal businesses in areas with high levels of informality.