Factors That Influence the Improvement of Financial Performance of MSMEs With Religiosity and Financial Technology as Moderation
DOI:
https://doi.org/10.38035/jafm.v6i4.2336Keywords:
Accounting Information Systems, Financial Literacy, Strategic Management Accounting, MSME Financial Performance, Financial Technology, ReligiosityAbstract
This study uses primary data collected by distributing questionnaires to MSMEs in several major cities in Indonesia, including MSMEs in Jakarta, Denpassar, Bandung, Surabaya, and Medan. The results of this study are The Influence of Accounting Information Systems on the Financial Performance of Micro, Small and Medium Enterprises, The Influence of Financial Literacy on the Financial Performance of Micro, Small and Medium Enterprises, The Influence of Accounting Management Strategies on the Financial Performance of Micro, Small and Medium Enterprises, The Role of Financial Technology as a moderating variable for the Influence of Accounting Information Systems on the Financial Performance of Micro, Small and Medium Enterprises, The Role of Financial Technology as a moderating variable for the Influence of Financial Literacy on the Financial Performance of Micro, Small and Medium Enterprises, The Role of Financial Technology as a moderating variable for the Influence of Accounting Management Strategies on the Financial Performance of Micro, Small and Medium Enterprises, The Role of Religiosity as a moderating variable for the Influence of Accounting Information Systems on the Financial Performance of Micro, Small and Medium Enterprises, The Role of Religiosity as a moderating variable for the Influence of Financial Literacy on the Financial Performance of Micro, Small and Medium Enterprises, The Role of Religiosity as a moderating variable for the Influence of Accounting Management Strategy on the Financial Performance of Micro, Small and Medium Enterprises.
References
Abbasi, K., Alam, A., Du, M. (Anna), & Huynh, T. L. D. (2021). FinTech, SME efficiency and national culture: Evidence from OECD countries. Technological Forecasting and Social Change, 163, 1-9. https://doi.org/10.1016/j.techfore.2020.120454
Ahinful, G. S., Boakye, J. D., & Osei Bempah, N. D. (2021). Determinants of SMEs’ financial performance: evidence from an emerging economy. Journal of Small Business and Entrepreneurship, 1-25. https://doi.org/10.1080/08276331.2021.1885247
Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50(2), 179–211. https://doi.org/10.1016/0749-5978(91)90020-T
Ajzen, I. 1985. From intentions to actions: A theory of planned behavior. In J. Kulh & J. Beckman (Eds). Heidelberg: Springer
Ajzen, Icek. 2005. Attitudes, Personality and Behavior. New York. USA: Open University Press.
Almulla, D., & Aljughaiman, A. A. (2021). Does financial technology matter? Evidence from an alternative banking system. Cogent Economics and Finance, 9(1), 1-21. https://doi.org/10.1080/23322039.2021.1934978
Anisah, N., Franzias Crisnata, H. (2021). Analisis Tingkat Literasi Keuangan Pengguna Fintech Payment OVO. Jurnal Riset Akuntansi dan Keuangan Dewantara, 4(1), 47-60. https://ejournal.stiedewantara.ac.id/index.php/JAD/issue/view/59
Anshika, Singla, A., & Mallik, G. (2021). Determinants of financial literacy: Empirical evidence from micro and small enterprises in India. Asia Pacific Management Review, 26(4), 248–255. https://doi.org/10.1016/j.apmrv.2021.03.001
Ariani, A., & Utomo, M. N. (2017). Kajian Strategi Pengembangan Usaha Mikro Kecil dan Menengah (UMKM) di Kota Tarakan. Jurnal Organisasi Dan Manajemen, 13(2), 99–118. https://doi.org/10.33830/jom.v13i2.55.2017
Breliastiti, R., & Josephine, K. (2017). Creating shared value (CSV) as a development of corporate social responsibility (CSR) in Indonesia. Advanced Science Letters, 23(8), 7039-7041.
Chang, V., Baudier, P., Zhang, H., Xu, Q., Zhang, J., & Arami, M. (2020). How Blockchain can impact financial services – The overview, challenges and recommendations from expert interviewees. Technological Forecasting and Social Change, 158, 1-12.
Goswami, K., Hazarika, B., & Handique, K. (2017). Determinants of financial risk attitude among the handloom micro-entrepreneurs in North East India. Asia Pacific Management Review, 22(4), 168–175. https://doi.org/10.1016/j.apmrv.2017.07.013
Hadiwardoyo, W. (2020). Kerugian Ekonomi Nasional Akibat Pandemi Covid-19. Baskara: Journal of Business and Entrepreneurship, 2(2), 83–92. https://doi.org/10.24853/baskara.2.2.83-92
Hakki, T., Chiputri, H., & Yolanda, Y. (2024). Peran Environmental Performance dan Green Accounting Sebagai Moderasi Pengaruh Profitabilitas dan Dewan Komisaris Terhadap CSR Utk Mensupport CoP. Ranah Research : Journal of Multidisciplinary Research and Development, 7(1), 248-256. https://doi.org/10.38035/rrj.v7i1.1096
Hamidah, Nur, Rida Prihatni dan IGKA Ulupul. 2020. The Effect of Financial Literacy, Fintech (Financial Technology) and Intellectual Capital on The Performance of MSMEs in Depok City, West Java. Journal of Social Science, 1(4), 1-6.
Harsana, M., Baiquni, M., Harmayani, E., & Widyaningsih, Y. A. (2019). Potensi Makanan Tradisional Kue Kolombeng Sebagai Daya Tarik Wisata Di Daerah Istimewa Yogyakarta. Home Economics Journal, 2(2), 40–47. https://doi.org/10.21831/hej.v2i2.23291
Hasan, M., Dzakiyyah, A., Kumalasari, D. A., Safira, N., & Aini, S. N. (2021). Transformasi Digital UMKM Sektor Kuliner Di Kelurahan Jatinegara, Jakarta Timur. Jurnal Bisnis Dan Kewirausahaan, 17(2), 135–150. https://doi.org/10.31940/jbk.v17i2.2529
Hermiyanty, Wandira Ayu Bertin, D. S. (2017). Analisis Tingkat Literasi Keuangan Mahasiswa. Journal of Chemical Information and Modeling, 8(9), 1–58.
https://doi.org/10.1016/j.techfore.2020.120166
https://www.adb.org/sites/default/files/publication/502781/adbi-fintech-smes.pdf
Idawati, I. A. A., & Pratama, I. G. S. (2020). Pengaruh Literasi Keuangan Terhadap Kinerja dan Keberlangsungan UMKM di Kota Denpasar. Warmadewa Management and Business Journal (WMBJ), 2(1), 1–9. https://doi.org/10.22225/wmbj.2.1.1644.1-9
Kadafi, M. A., Darma, D. C., Kadafi, M. A., & Lestari, D. (2020). FinTech and MSMEs Continuity: Applied in Indonesia. International Journal of Advanced Science and Technology, 29(4), 4676–4685. https://www.researchgate.net/publication/342246983
Kamukama, N., Kyomuhangi, D. S., Akisimire, R., & Orobia, L. A. (2017). Competitive advantage: Mediator of managerial competence and financial performance of commercial banks in Uganda. African Journal of Economic and Management Studies, 8(2), 221–234. https://doi.org/10.1108/AJEMS-10-2016-0142
Karadag, H. (2017). The impact of industry, firm age and education level on financial management performance in small and medium-sized enterprises (SMEs): Evidence from Turkey. Journal of Entrepreneurship in Emerging Economies, 9(3), 300–314. https://doi.org/10.1108/JEEE-09-2016- 0037
Lema, García-Pérez-de- D., Ruiz-Palomo, D., & Diéguez-Soto, J. (2021). Analysing the roles of CEO’s financial literacy and financial constraints on Spanish SMEs technological innovation. Technology in Society, 64, 1-12. https://doi.org/10.1016/j.techsoc.2020.101519
Leong, K. (2018). FinTech (Financial Technology): What is It and How to Use Technologies to Create Business Value in Fintech Way? International Journal of Innovation, Management and Technology, 9(2), 74–78. https://doi.org/10.18178/ijimt.2018.9.2.791
Lubis, I., & Lufriansyah, L. (2024). Pengaruh Sistem Informasi Akuntansi Terhadap Kinerja Umkm Di Mediasi Kualitas Laporan Keuangan Di Kecamatan Kisaran Barat Kabupaten Asahan. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 8(1), 1456-1469. https://doi.org/10.31955/mea.v8i1.3866
Luckandi, D. (2019). Analisis Transaksi Pembayaran Menggunakan Fintech Pada UMKM Di Indonesia: Pendekatan Adaptive Structuration Theory. Jiko - Stmik Akakom Yogyakarta, 4(1), 1–86. https://dspace.uii.ac.id/handle/123456789/9681
Mukarromah, Denis., Jubaedah dan M. Astuti. 2020. Financial Performance Analysis on Micro, Small, and Medium Entreprises of Cassava Product in Cibadak, Lebak Regency, Banten. Jurnal Economia, 16(2), 257-268.
Oktavina, Larissa A. dan Mario Ria R. (2021). Digitalisasi UMKM, Literasi Keuangan, dan Kinerja Keuangan: Studi pada Masa Pandemi Covid-19. Journal of Business and Banking, 11(1), 73-92.
Opiyo, M. O., Ondoro, C., & Obura, J. (2019). Influence of Digital Financial Information Services on Financial Performance of Commercial Banks in Kisumu Country, Kenya. International Journal of Research and Innovation in Social Science, 3(6), 153-156.
Pangestu, J. C. (2021). Strategi Pengembangan Pada Perspektif Nonkeuangan Metode Balance Scorecard Terhadap Peningkatan Kinerja Keuangan Umkm Di Indonesia Saat Pandemic Covid-19. JURNAL LENTERA AKUNTANSI, 6(1), 31-47.
Pranata, Nika. (2019). The Role of Digital Payment Fintech in Accelerating the Development of MSMEs in Indonesia. Fintech for Asian SMEs, 145-166.
Rahayu, A. Y., & Musdholifah. (2017). Pengaruh literasi keuangan terhadap kinerja dan keberlanjutan umkm di kota surabaya. Jurnal Ilmu Manajemen, 5(2016), 1-7.
Rakhma Wulan, V. (2017). Financial Technology (Fintech) A New Transaction in Future. Journal of Electrical Engineering and Computer Sciences, 2(1), 177-182.
Rosavina, M., Rahadi, R. A., Kitri, M. L., Nuraeni, S., & Mayangsari, L. (2019). P2P lending adoption by SMEs in Indonesia. Qualitative Research in Financial Markets, 11(2), 260–279. https://doi.org/10.1108/QRFM-09-2018-0103
Rusli, Y. M., & Surjadi, M. (2021). Business Development Strategy For Non- Financial Perspective Balance Scorecard Methods To Increase The Performance Of Msmes In Indonesia During The Covid-19 Pandemic. Dinasti International Journal Of Management Science, 3(2), 276-286.
Sabana, Beatrice& Gathungu, J. M. (2014). Entrepreneur Financial Literacy, Financial Access, Transaction Costs and Performance of Micro Enterprises in Nairobi City County, Kenya. International Journal of Research in Management, Economics and Commerce, 1(2), 25–30.
Sanistasya, P. A., Raharjo, K., & Iqbal, M. (2019). The Effect of Financial Literacy and Financial Inclusion on Small Enterprises Performance in East Kalimantan. Jurnal Economia, 15(1), 48–59. https://doi.org/10.21831/economia.v15i1.23192
Saragih, E. V. O., & Nugroho, S. (2015). Makna Ketersediaan Trans Sarbagita Jalur Denpasar-Gwk Bagi Pariwisata Bali. Jurnal Destinasi Pariwisata, 3(2), 7–13.
Saunila, M. (2014). Innovation capability for SME success: perspectives of financial and operational performance. Journal of Advances in Management Research, 11(2), 163–175. https://doi.org/10.1108/JAMR-11-2013-0063
Setiawan, T. (2022). Mahir Akuntansi untuk Usaha Mikro, Kecil, dan Menengah. Bhuana Ilmu Populer.
Sudaryanti, D. S., Sahroni, N., & Kurniawati, A. (2018). Analisa Pengaruh Mobile Banking terhadap Kinerja Perusahaan Sektor Perbankan yang Tercatat di Bursa Efek Indonesia. Jurnal Ekonomi Manajemen, 4, 96–107. http://jurnal.unsil.ac.id/index.php/jem
Surjadi, M. (2023). Pengaruh Moral Pajak Dan Etika Uang Terhadap Kepatuhan Wajib Pajak Umkm Dengan Peran Sistem Digitalisasi Pajak Sebagai Pemoderasi Saat Era New Normal Pandemik Covid-19. Jurnal Analisa Akuntansi dan Perpajakan, 7(1), 1-18.
Surjadi, M., Hakki, T. W., & Saputra, F. (2023). Improving Msme Performance: Management Accounting Strategies, Leadership Quality and Market Orientation. Journal of Accounting and Finance Management, 4(3), 250-257. https://doi.org/10.38035/jafm.v4i3.232
Suryanto, Rusdin dan R.Meisa Dai. 2020. Fintech as A Catalyst for Growth of Micro, Small and Medium Enterprises in Indonesia. Academy of Strategic Management Journal, 19(5), 1-12. https://www.researchgate.net/publication/344819009
Susan, M. (2020). Financial literacy and growth of micro, small, and medium enterprises in west java, indonesia. In International Symposia in Economic Theory and Econometrics, 27, 39–48. Emerald Group Publishing Ltd. https://doi.org/10.1108/S1571-038620200000027004
Sutarmin, O. :, & Susanto, A. (2017). Potensi Pengembangan Transaksi Non Tunai di Indonesia. Sustainable Competitive Advantage (SCA), 7 (1), 1-12.
Wahyono, & Hutahayan, B. (2021). The relationships between market orientation, learning orientation, financial literacy, on the knowledge competence, innovation, and performance of small and medium textile industries in Java and Bali. Asia Pacific Management Review, 26(1), 39–46. https://doi.org/10.1016/j.apmrv.2020.07.001
Ye, J., & Kulathunga, K. M. M. C. B. (2019). How does financial literacy promote sustainability in SMEs? A developing country perspective. Sustainability (Switzerland), 11(10), 1–21. https://doi.org/10.3390/su11102990
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Merna Surjadi, Johanes B.P. Simandjuntak, Tandry Whittleliang Hakki, Bella Rosewita
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish their manuscripts in this journal agree to the following conditions:
- The copyright on each article belongs to the author(s).
- The author acknowledges that the Journal of Accounting and Finance Management (JAFM) has the right to be the first to publish with a Creative Commons Attribution 4.0 International license (Attribution 4.0 International (CC BY 4.0).
- Authors can submit articles separately, arrange for the non-exclusive distribution of manuscripts that have been published in this journal into other versions (e.g., sent to the author's institutional repository, publication into books, etc.), by acknowledging that the manuscript has been published for the first time in the Journal of Accounting and Finance Management (JAFM).
