Financial planning, cost structure and profitability in a Peruvian healthcare provider: moderation analysis using OLS hierarchical regression
DOI:
https://doi.org/10.5281/zenodo.22678104Keywords:
Financial planning, profitability, cost structure, moderation, MSE, healthcare sector, PeruAbstract
Financial planning is a critical strategic tool for the sustainability of micro and small enterprises (MSEs) in the healthcare sector; however, its effect on profitability remains insufficiently modeled in the Peruvian context, particularly when cost structure is incorporated as a moderating factor. This study aimed to evaluate the influence of financial planning on the profitability of the Health Services Provider Enterprise (EPSS) El Nazareno S.R.Ltda. during 2024 and to examine the extent to which cost structure conditions this relationship. A cross-sectional, non-experimental, explanatory design was employed with a census sample of N = 45 administrative and accounting/finance staff members. Constructs were operationalized through five-point Likert scales and validated via Confirmatory Factor Analysis (CFA); hypothesis testing was conducted using hierarchical Ordinary Least Squares (OLS) regression with HC3 robust standard errors across four sequential models in R 4.3. The measurement model demonstrated adequate fit (CFI = 1.00; RMSEA = 0.00; ?² = 42.58, df = 51), confirming discriminant validity against a competing single-factor model (CFI = 0.447; RMSEA = 0.227). Hypothesis H1 was supported: financial planning exerted a positive and significant effect on profitability (? = 0.204, p < .001). Hypothesis H2 was equally supported: cost structure significantly moderated this relationship (interaction ? = 0.304, p < .001), raising the final model's explained variance to R² = 0.407. Simple slopes analysis revealed that the effect of financial planning on profitability was negative at low cost control levels (? = ?0.08, p = .015), positive at the mean (? = 0.224), and substantially amplified at high cost control levels (? = 0.528). These findings empirically validate Contingency Theory in the Peruvian healthcare MSE context and underscore that financial planning operates as a profitability catalyst only when rigorously articulated with cost structure control.
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