The Role of Financial Behavior in Mediating Financial Literacy, Financial Attitudes, Business Performance and Business Sustainability in MSMEs in Jayapura City

Pascalina Van Sweet Sesa; Klara Wonar; Theo Allolayuk

doi:10.32535/ijthap.v7i2.3138

The Role of Financial Behavior in Mediating Financial Literacy, Financial Attitudes, Business Performance and Business Sustainability in MSMEs in Jayapura City

Pascalina Van Sweet Sesa, Klara Wonar, Theo Allolayuk

Abstract

Examining the mediating role of financial behavior on the relationships between financial literacy, financial attitudes, business performance, and the sustainability of MSMEs in Jayapura City is the aim of this study. It is anticipated that the analysis will serve as a helpful guide for the next studies. This study is quantitative in nature and tests hypotheses using a descriptive methodology. The way that data is gathered is through distributing questionnaires. One tool for data analysis methods is WarpPLS analysis. The findings showed that as a mediating variable between financial literacy and company performance, financial management behavior has a big impact on the sustainability of businesses. This indicates that MSME owners in Jayapura City are aware that taking financial literacy-related actions will assist the long-term viability of their company. Nevertheless, financial management behavior characteristics are unable to moderate the relationship between financial attitudes toward company sustainability among MSME actors in Jayapura City. It is anticipated that similar future studies can be conducted with a moderation or intervention approach and apply wider data, for example, in provincial-level areas, to create conclusions that are more applicable to the expansion of MSMEs in other locations.

Keywords

Business Performance; Business Sustainability; Financial Attitude; Financial Literacy; Financial Management Behavior; MSMEs

Full Text:

PDF

References

Agusta, A. (2016). Analisis Deskriptif Tingkat Literasi Keuangan Pada UMKM di Pasar Koga Bandar Lampung [Undergraduate thesis, Lampung University]. Digital Repository Unila. https://digilib.unila.ac.id/24158/

Alessandro, A. (2023). The Implementation of sustainable finance: A case study in bank performance. International Journal of Accounting & Finance in Asia Pasific, 6(1), 27–37. https://doi.org/10.32535/ijafap.v6i1.2074

Ambarwati, L., & Zuraida, L. (2020). Pengaruh financial literacy terhadap business sustainability pada UMKM Desa Panggungharjo. Kajian Bisnis Sekolah Tinggi Ilmu Ekonomi Widya Wiwaha, 28(1), 1-12. https://doi.org/10.32477/jkb.v28i1.27

Amri, A., Ramdani, Z., Warsihna, J., & Tae, L. F. (2022). The development and validation of Financial Management Behavior (FMB) scale in postgraduate students. Jurnal Manajemen Indonesia, 22(2), 189-198. https://doi.org/10.25124/jmi.v22i2.4006

Anugrah, R. (2018). Pengaruh Literasi Keuangan dan Sikap Keuangan Terhadap Perilaku Pengelolaan Keuangan Masyarakat Dengan Niat Sebagai Variabel Intervening [Undergraduate thesis, Alauddin State Islamic University of Makassar]. https://core.ac.uk/download/pdf/198228401.pdf

Aribawa, D. (2016). The effect of financial literacy on the performance and sustainability of MSMEs in Central Java. Journal of Atma Jaya University Yogyakarta, 20(1), 1–13. http://dx.doi.org/10.20885/jsb.vol20.iss1.art1

Asmin, E. A., Ali, M., Nohong, M., & Mardiana, R. (2021). Perilaku keuangan, financial self-efficacy dan keterampilan wirausaha terhadap kinerja keuangan UKM fashion dan kuliner. Journal of Management Science, 2(1), 188-196. https://doi.org/10.33096/jms.v2i1.424

Butar-Butar, I. (2021). Pengaruh Literasi Keuangan Terhadap Kinerja Dan Keberlangsungan UMKM Di Kecamatan Bukit Raya, Simpang Tiga Kota Pekanbaru [Undergraduate thesis, Riau Islamic University]. Repository Universitas Islam Riau. https://repository.uir.ac.id/10941/

Djou, L. G. (2019). Analysis of the influence of financial literacy, financial attitudes and personality on the financial management behavior of SMEs in Ende Regency. Journal of Magisma, 7(2), 1-12.

Financial Services Authority (OJK). (2020, December 1). Survei Nasional Literasi dan Inklusi Keuangan 2019. Otoritas Jasa Keuangan. https://ojk.go.id/id/berita-dan-kegiatan/publikasi/Pages/Survei-Nasional-Literasi-dan-Inklusi-Keuangan-2019.aspx

Financial Services Authority (OJK). (2022). Strategi Nasional Literasi Keuangan Indonesia 2021 - 2025. Otoritas Jasa Keuangan. https://www.ojk.go.id/id/berita-dan-kegiatan/publikasi/Documents/Pages/Strategi-Nasional-Literasi-Keuangan-Indonesia-2021-2025/Strategi%20Nasional%20Literasi%20Keuangan%20Indonesia%202021-2025.pdf

Fitria, I., Soejono, F., & Tyra, M. J. (2021). Literasi keuangan, sikap keuangan dan perilaku keuangan dan kinerja UMKM. Journal of Business and Banking, 11(1), 1-15.

Gutiérrez, J. G., & Baquero, J. E. G. (2017). New cross-proposal entrepreneurship and innovation in educational programs in third level (tertiary) education. Contaduría y administración, 62(1), 239-261. https://doi.org/10.1016/j.cya.2016.10.005

Haryadi, B., Angraini, M. S., Hamat, Z., & Latifah, L. (2023). The effect of financial literacy and financial behavior on the performance of MSMEs on Madura Island. Journal of International Conference Proceedings, 6(7), 172-182. https://doi.org/10.32535/jicp.v6i7.2820

Ichwan, C. N. F. (2016). Studi Literasi Keuangan Pengelola Usaha Kecil. STIE Perbanas Surabaya, 1–14.

Maysarah, S. (2022). Pengaruh pengetahuan keuangan, sikap keuangan, dan kepribadian terhadap perilaku manajemen keuangan pada pelaku UMKM Industri Sandang Kabupaten Kuantan Singingi [Undergraduate thesis, Riau Islamic University]. Repository Riau Islamic University]. https://repository.uir.ac.id/12665/

Muir, K., Hamilton, M. G., Noone, J., Marjolin, A., Salignac, F., & Saunders, P. (2017). Exploring financial wellbeing in the Australian context. Commissioning Body: Financial Literacy Australia. https://unsworks.unsw.edu.au/entities/publication/886e1cbb-b3c3-4451-948b-d30007231b4c/full

Naufal, M. I. , & Purwanto, E. (2022). Dampak literasi keuangan terhadap kinerja dan keberlanjutan UMKM (Studi kasus industri F&B Kecamatan Sumbersari Jember). Profit: Journal of Business Administration, 16(2), 209-215.

Ningtyas, M. N. , & Andarsari, P. R. (2020). Peran perilaku keuangan dalam memediasi literasi keuangan dan keberlangsungan usaha. Jurnal Riset dan Aplikasi Akuntansi dan Manajemen, 5(1), 1–8. http://dx.doi.org/10.33795/jraam.v5i1.004

Pramedi, A. D. , & Asandimitra, N. (2021). Pengaruh financial literacy, financial knowledge, financial attitude, income dan financial self efficacy terhadap financial management behavior entrepreneur lulusan perguruan tinggi di Surabaya. Jurnal Ilmu Manajemen, 9(2), 572–586. https://doi.org/10.26740/jim.v9n2.p572-586

Puspitaningtyas, Z. (2017). Manfaat literasi keuangan bagi business sustainability. Prosiding Seminar Nasional Kewirausahaan & Inovasi Bisnis VII, 254-262.

Rahayu, A. Y. , & Musdholifah, M. (2017). Pengaruh literasi keuangan terhadap kinerja dan keberlanjutan UMKM di Kota Surabaya. Jurnal Ilmu Manajemen, 5(3), 1–7.

Ratnasari, D. (2020). Pengaruh Literasi Keuangan Terhadap Keberlanjutan Usaha UMKM di Kota Makassar [Undergraduate thesis, Muhammadiyah University Makassar]. Digital Library Universitas Muhammadiyah Makassar. https://digilib.unismuh.ac.id/dokumen/detail/15706/

Rusnawati, R., & Saharuddin, S. (2022). Pengaruh literasi keuangan, perilaku keuangan dan sikap keuangan terhadap kinerja keuangan Usaha Mikro, Kecil dan Menengah di Kota Makassar. SEIKO: Journal of Management & Business, 5(2), 253-261. https://doi.org/10.37531/sejaman.v5i2.2206

Silvy, M., & Yulianti, N. (2013). Sikap pengelola keuangan dan perilaku perencanaan investasi keluarga di Surabaya. Journal of Business & Banking, 3(1), 57-68. https://doi.org/10.14414/jbb.v3i1.254

Siregar, Q. R., & Simatupang, J. (2022, September). The influence of financial knowledge, income, and lifestyle on financial behavior of housewives at Laut Dendang Village. Journal of International Conference Proceedings, 5(2), 646-654. https://doi.org/10.32535/jicp.v5i2.1850

Syafitri, W., Setyanti, A. M., & Finuliyah, F. (2024). Return migration and entrepreneurship: does human capital matter?. Asia Pacific Journal of Management and Education, 7(1), 77-92. https://doi.org/10.32535/apjme.v7i1.2921

Suwandi, Y. W., & Komariyah, I. (2023). Study of employment characteristics and entrepreneur competency as effort to increase SMEs performance. International Journal of Applied Business and International Management, 8(1), 128-139. https://doi.org/10.32535/ijabim.v8i1.1991

Tanjung, A. A., & Triyani, R. A. (2023). Pengaruh tingkat pengetahuan keuangan, sikap keuangan dan kepribadian terhadap perilaku manajemen keuangan. Owner: Riset dan Jurnal Akuntansi, 7(3), 2301-2315. https://doi.org/10.33395/owner.v7i3.1604

Utami, I. A. (2021). Pengaruh Pengetahuan Keuangan, Sikap Keuangan, Dan Kepribadian Terhadap Perilaku Manajemen Keuangan Pada Pelaku UMKM Kerajinan Rotan Kecamatan Rumbai [Master’s thesis, Islamic University Riau]. Repository Universitas Islam Riau. https://repository.uir.ac.id/16796/

Wahyuni, S. F., Radiman, R., & Nara, R. (2022, August). The influence of financial literacy, financial behavior, and income on investment decisions (2018 student case study for management study program Universitas Muhammadiyah Sumatera Utara). Journal of International Conference Proceedings, 5(2), 469-479. https://doi.org/10.32535/jicp.v5i2.1709

Widayanti, R. , Damayanti, R. , & Marwanti, F. (2017). Pengaruh financial literacy terhadap keberlangsungan usaha (business sustainability) pada UMKM Desa Jatisari. Jurnal Ilmiah Manajemen dan Bisnis, 18(2), 153–163. https://doi.org/10.30596/jimb.v18i2.1399

Wongsowinoto, F., & Susanto, S. (2022). The effect of financial knowledge, technology, and behavioral control on student financial behavior. International Journal of Accounting & Finance in Asia Pasific, 5(3), 50-60. https://doi.org/10.32535/ijafap.v5i3.1879

Wuisang, J. R. H., Rooroh, A., & Christian, W. (2023). The Influence of Financial Literacy and Shopping Habits on The Financial Management of Economic Education Students. International Journal of Accounting & Finance in Asia Pasific, 6(2), 83-97. https://doi.org/10.32535/ijafap.v6i2.2317

DOI: https://doi.org/10.32535/ijthap.v7i2.3138