Behavioral Financial Aspects Analysis on MSMEs Business Development of Culinary Sector in Semarang City
DOI:
https://doi.org/10.33633/jpeb.v8i1.7033Abstract
This study was proposed to study and analyze behavioral financial technologies for the development of MSMEs in the culinary field in the city of Semarang. There has been a lot of research related to fintech (fintech) or fintech topics or issues, but not much research has been found on behavioral fintech, especially related to MSME business development. The sample of the study is 125 culinary MSMEs in the city of Semarang. The data collected through the questionnaires was then analyzed using smartpls. This study found that financial satisfaction, owner characteristics, social impact, and risk reduction had a positive (significant) impact on behavioral finance, while financial literacy had a significant negative impact on behavioral finance. Behavioral financial factors have a significant positive impact on MSME business development. This means that Behavioral Finance as a mediation variable between Financial Satisfaction, Owner Characteristics, Financial Literacy, Risk Mitigation, Social Influence variables affecting on business development. Many of them (MSMEs) claimed that they have no experience of using digital technologies themselves, in this case, online transaction applications, and they still did not understand financial literacy. Future research on other variables that do have a positive and significant impact on MSME business development. The sample size also needs to be increased in size and diversity of the MSME sector by at least 60-70% in order for the study to better describe the situation and the state of the MSME.Keywords:behavioral finance, financial satisfaction, financial literacy, risk reduction, social impact business developmentReferences
Abdullah, E. M. E., Rahman, A. A., & Rahim, R. A. (2018). Adoption of financial technology (Fintech) in mutual fund/ unit trust investment among Malaysians: Unified Theory of Acceptance and Use of Technology (UTAUT). International Journal of Engineering and Technology(UAE), 7(2), 110–118. https://doi.org/10.14419/ijet.v7i2.29.13140
Adella, L., & Rio, M. (2021). Digitalisasi umkm, literasi keuangan, dan kinerja keuangan?: Studi pada masa pandemi Covid-19. STIE Perbanas Press 2021, 11, 73–92. https://doi.org/10.14414/jbb.v11i1.2552
Affan, M. W., & Widyastuti, A. (2022). Perilaku UMKM Dalam Menggunakan Fintech: Fokus Regulatory dan Mitigasi Risiko. Jurnal Aplikasi Bisnis Dan Manajemen, 8(1), 100–107. https://doi.org/10.17358/jabm.8.1.100
Aksami, D., & Jember, I. M. (2019). Analisis Minat Penggunaan Layanan E-Money Pada Masyarakat Kota Denpasar. E-Jurnal Ekonomi Pembangunan Universitas Udayana, 8(10), 2439–2470.
Armilia, N., & Isbanah, Y. (2019). Faktor yang mempengaruhi kepuasan keuangan pengguna financial technology di Surabaya. Jurnal Ilmu Manajemen, 8(1), 39–50. https://jurnalmahasiswa.unesa.ac.id/index.php/jim/article/view/30037
Astri Wening Perwitasari. (2022). The Effect of Perceived Usefulness and Perceived Easiness towards Behavioral Intention to Use of Fintech by Indonesian MSMEs. The Winners, 23(1), 1–9. https://doi.org/10.21512/tw.v23i1.7078
Budhiasa, S. (2016). Analisis Statistik Multivariate Dengan Aplikasi SEM PLS SMARTPLS 3.2.6. Udayana University Press.
Darmansyah, Fianto, B. A., Hendratmi, A., & Aziz, P. F. (2020). Factors determining behavioral intentions to use Islamic financial technology: Three competing models. Journal of Islamic Marketing, 12(4), 794–812. https://doi.org/10.1108/JIMA-12-2019-0252
Dharma, B., & Syarbaini, A. M. B. (2022). Perancangan Mitigasi Risiko Krusial Pada UMKM Keripik di Sumatera Utara Dengan Pendekatan Transdisipliner. 6(01), 107–124.
Fitriyadi, M. G. (2019). Analisis Mitigasi Risiko Financial Technology Syariah Peer To Peer (P2p) Lending Dalam Penyaluran Pembiayaan Terhadap UMKM Di Indonesia (Studi Kasus PT. Ammana Fintek Syariah). Jurnal Ilmiah Mahasiswa FEB, 7(2). https://jimfeb.ub.ac.id/index.php/jimfeb/article/view/5827
Ghozali, I. (2021). Structural Equation Modeling dengan metode alternatif Partial Least Square (PLS). Badan Penerbit Universitas Diponegoro.
Hasan, H. A. (2020). Dampak Teknologi Dalam Transaksi Bisnis Umkm. Jurnal Kajian Islam Kontemporer, 11(2), 52–63. https://journal.unismuh.ac.id/index.php/pilar/article/viewFile/4929/3268
Hasibuan, B. K., Walad, A. H., & Lubis, Y. M. (2018). Financial Literacy and Financial Behavior as a Measure of Financial Satisfaction. Advances
in Economics, Business and Management Research (AEBMR), 46(Ebic 2017), 503–507.
Iskandar, Y., Zulbainarni, N., & Jahroh, S. (2020). Pengaruh Karakteristik Usaha dan Wirausaha Terhadap Kinerja UMKM Industri Pengolahan Perikanan di Kabupaten Sukabumi. 4(1), 1–12.
Kamil, I. (2020). Cashless Society: Pengaruh Kemampuan Financial, Kemudahan Dan Keamanan Terhadap Perilaku Sistem Penggunaan Financial Technology. Al-Mal: Jurnal Akuntansi Dan Keuangan Islam, 1(2), 98–114. https://doi.org/10.24042/al-mal.v1i2.6501
Kicova, E., & Gorzelanczyk, P. (2022). Financial Literacy and Shopping. Ekonomicko-Manazerske Spektrum, 16(1), 91–103.
Lestara, P. G. P., Rini, & Hesty Pahlevy Setyo, Paramartha, G. N. D. (2021). Fintech Dari Perspektif Perilaku User Dalam Penggunaan E-Wallet Dengan Menggunakan Technology Acceptance Model (TAM). (Studi Kasus Pada Pengguna E-Wallet di Denpasar). Widya Akuntansi Dan Keuangan, 3(1), 50–70.
Liliani, P. (2020). Analisis Faktor Yang Memengaruhi Niat Pengguna Pada Gopay Dengan Pendekatan Technology Acceptance Model. Jurnal Bina Manajemen, 9(1), 44–60. https://doi.org/10.52859/jbm.v9i1.114
Majid, R. (2021). The Role of Religiosity in Explaining the Intention to use Islamic FinTech Among MSME Actors. International Journal of Islamic Economics and Finance (IJIEF), 4(2), 207–232. https://doi.org/10.18196/ijief.v4i2.11833
Mustofa, N. H., & Afrilia Tina Nur, A. (2021). Pengaruh Karakteristik Wirausaha, Modal Usaha, Strategi Pemasaran Terhadap Perkembangan Usaha Mikro Kecil Menengah (UMKM) Dengan Inovasi Sebagai Variabel Intervening. Jurnal Sketsa Bisnis, 08(02), 82–98.
Nurcholidah, L., & Harsono, M. (2021). Kajian Fintech dalam Konsep Behaviouristik. Jurnal Sains Sosio Humaniora, 5(1), 66–71. https://doi.org/10.22437/jssh.v5i1.13145
Purnamasari, P., Pramono, I. P., Haryatiningsih, R., Ismail, S. A., & Shafie, R. (2020). Technology Acceptance Model of Financial Technology in Micro, Small, and Medium Enterprises (MSME) in Indonesia. Journal of Asian Finance, Economics and Business, 7(10), 981–988. https://doi.org/10.13106/jafeb.2020.vol7.no10.981
Purwantini, A. H., & Amalia, R. D. (2021). Investigasi Niat Penggunaan Financial Technology Payment Bagi Usaha Mikro Kecil Menengah. Jurnal Akuntansi Universitas Jember, 19(1), 35. https://doi.org/10.19184/jauj.v19i1.24715
Putri, L. P., & Christiana, I. (2021). Peran Financial Technology Dalam Membantu UMKM di Tengah The Role of Financial Technology in Helping MSMEs During the Covid-19 Pandemic. EKONOMIKAWAN: Jurnal Ilmu Ekonomi Dan Studi Pembangunan, 57–63.
Rahadjeng, E. R., Sudarmiatin, & Hermawan, A. (2021). the Influence of Financial Technology on the Financial Performance of Msmes in Malang. International Journal of Economics, Business and Accounting Research (IJEBAR), 5(4), 1346–1356.
Rifqi, M., & Izzun Khoirun, N. (2020). Analisis Resiko Pembiayaan dan Resolusi Syariah pada. EQUILIBRIUM: Jurnal Ekonomi Syariah, 8(1), 63–88.
Setiawan, D., Darwanto, D., & Gunanto, E. Y. A. (2021). Determinants of Behavioral Intentions to Use Sharia Financial Technology (Fintech). Signifikan: Jurnal Ilmu Ekonomi, 10(2), 325–342. https://doi.org/10.15408/sjie.v10i2.21451
Sijabat, Y. P., Hutajulu, D. M., & Sihombing, P. (2019). Determinasi Technology Acceptance Model Terhadap Niat Penggunaan Fintech Sebagai Alat Pembayaran (Payment). Seminar Nasional Fakultas Ekonomi Untidar, 151–166. https://jurnal.untidar.ac.id/index.php/semnasfe/article/view/2080
Syah, D. H., & Karen, A. El. (2022). an Analysis of Determinants of E-Commerce-Based Accounting Information Systems Adoption on the Performance of Millennial Msme in Medan City. Jurnal Ekonomi Bisnis Dan Kewirausahaan, 11(2), 179. https://doi.org/10.26418/jebik.v11i2.53465
Syaliha, A. (2022). The Effect of Financial Literacy , Life Style , Financial Attitude and Locus of Control to Financial Management Behavior. Public Policy, Jurnal Aplikasi Kebijakan Publik Dan Bisnis, 3(1), 52–71.
Trisnani, S. A., Adriyai, A. D., Wandansari, R. A., & Isthika, W. (2019). Consumption behavior and the lack of financial literacy among teens. Journal of Islamic Economics, Management, and Business, 1(1), 191–206. https://doi.org/10.21580/jiemb.2019.1.1.3705
Tyoso, Jaluanto, S. P., Sukardi, S., & Devita, Eliza, F. (2021). Interdependence of Influence between Risk Management Behavior , MSME Characteristics , and Overconfidence on Business Sustainability. Journal of World Economy: Transformations & Transitions (JOWETT), 1(03), 1–14. https://doi.org/10.52459/jowett1391221
Wismantoro, Y., & Susilowati, M. W. K. S. (2021). How does Unified Theory of Acceptance and Use of Technology (UTAUT) Work on Adopting Financial Technology (FinTech) by MSMEs? Jurnal Penelitian Ekonomi Dan Bisnis, 6(2), 90–99. https://doi.org/10.33633/jpeb.v6i2.4826
Wiyono, G., & Kirana, K. C. (2021). Digital Transformation of SMEs Financial Behavior in the New Normal Era. Jurnal Keuangan Dan Perbankan, 25(1), 191–211. https://doi.org/10.26905/jkdp.v25i1.4954
Yuliarisa, Y., Yandari, A. D., Wiraraja, U., & Wiraraja, U. (2022). Analisis Perkembangan Tingkat Literasi Keuangan Pengguna Fintech Pada Pelaku Usaha Mikro Di Kabupaten Sumenep (Studi Kasus Usaha Mikro Pengguna Fintech Payment Shopeepay Dan Ovo). 12(1), 63–71.
Zikrillah, Z., Wahyudi, W., & ... (2021). Determinan Perilaku Manajemen Keuangan UMKM di Kelurahan Lenteng Agung DKI Jakarta. … Riset Nasional Ekonomi …, 2(1), 1428–1445. https://conference.upnvj.ac.id/index.php/korelasi/article/view/1095
Books
Downloads
Published
How to Cite
Issue
Section
License
Authors who publish with this journal agree to the following terms:- The journal allow the authors to hold the copyright without restrictions and allow the authors to retain publishing rights without restrictions.
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution 4.0 International License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
This work is licensed under a Creative Commons Attribution 4.0 International License. Which means you are free to:- Share — copy and redistribute the material in any medium or format
- Adapt — remix, transform, and build upon the material for any purpose, even commercially.