Financial Literacy Model at Micro Small Medium Entreprise (MSMEs)

Sri Widiyati, Edi Wijayanto, Prihartiningsih Prihartiningsih

Abstract


Financial literacy level of MSMEs (Micro, Small, and Medium Enterprises) is only 15.68% and majority of the actors are unbanked. The level of MSMEs actors’ financial literacy is important in business sustainability. This study aims to measure level of MSMEs financial literacy and determine its correlation with demographic and economic variables as well as designing models to increase the literacy.Results show that 51 (25.5%) actors of  MSMEs  have low literacy level, 105 (52.5%) have moderate level, and the rest of 44 (22%) have high literacy level. Contingency Coefficient of <0.6 indicates that demographic and socioeconomic correlation is less strong in level of literacy. 

  

Keywords


MSMEs, Financial Literacy, Demographic and Economic Variables

Full Text:

PDF

References


Adomako, S. and Danso, A. (2016). Financial Literacy and Firm Performance: The Moderating Role of Financial Capital Availability and Resource Flexibility. International Journal of Management and Organizational Studies, 3(4), pp. 1-15.

Aryco, H. (2017). Peran UMKM Bagi Pereknomonian Indonesia. Diakses tanggal 22 Nopember 2017 dari http://www.internetmarketing.co.id/peran-bagi-perekonomian-indonesia/

Atkinson, A., and Messy, F. (2012). Measuring Financial Literacy: OECD Publishing.

Bonte, W. A. (2012). Financial literacy, information flows, and caste affiliation: Empirical Evidence from India. Journal of Banking & Finance, 36, 3399–3414.

Braunstein, S.,and Welch, C.( 2002). Financial Literacy: An Overview of Practice,Research, and Policy. USA: Federal Reserve Bulletin

Chinen, K., & Endo, H. (2012). Effect of Attitude and Bacground on Personal Finance Ability: A Student Survey in the United State. International Journal of Management. (29).1: 33-45

Dahmen, P., and Rodriguez, E. (2014). Financial Literacy and the Success of Small Businesses: An Observation from a Small Business Development Center. Numeracy: Advancing Education in Quantitative

Fernandes,T., I., M. (2015). Financial Literacy Levels of Small Businesses Owners and it Correlation with Firms’ Operating Performance. Master in Finance Dissertation

Ghozali,,I.(2011).Analisis Multivariate Lanjutan Dengan Program SPSS. Badan Penerbit Universitas Diponegoro.Semarang

Guliman, S., D., O. (2015).An Evaluation of Financial Literacy of Micro and Small Enterprise.Owners in Iligan City: Knowledge and Skills.9th Global Business Conference. De La Salle University, Manila, Philippines

Gupta, K., and Kaur, J.(2014). A Study of Financial Literacy Among Micro Entrepreneurs in District Kangra. International Journal of Research in Business Management.Vol 2,Issue 2,hal .2347-4572.

Jappelli, T. and Padula, M.(2011).Investment in Financial Literacy and Saving Decisions. Papers Discussion 8220. Centre for Economic Policy Research.

Kehiaian, S. and Williams, A. (2012). Financial Literacy and Characteristics of Chapter 13 Debtors. International Journal of Business, Accounting, and Finance, 6(1),142-155.

Kempson E., Collards and Moore N. (2005).Measuring Financial Capability :An Exploratory Study. Financial Services Authority,Consumer Research Report no.37.

Lusardi, A. and Mitchell, O. (2011). Financial Literacy around the World: An Overview, Discussion Paper. Netspar Discussion Papers.

Lusardi,Annamaria, Olivia S. Mitchell, and Vilsa Curto.(2010). Financial Literacy among the Young.The Journal of Consumer Affair Vo.44,No.2.

OJK. Literasi Keuangan. Diakses tanggal 15 Oktober tahun 2017 dari https://www.ojk.go.id/id/kanal/edukasi-dan-perlindungan-konsumen/Pages/Literasi-Keuangan.aspx

Oseifuah, E.K. (2010). Financial literacy and youth entrepreneurship in South Africa, African Journal of Economic and Management Studies, 1(2), pp. 164-182.

Plakalovic, N.(2015).Financial Literacy of SMEs Managers.International Conference

Prihartiningsih, Widiyati, S., Rois, M.(2012) .Model Penguatan Kapasitas Kerajinan Logam dan Suku Cadang Mesin Untuk Meningkatkan PAD Kabupaten Tegal. Hasil Penelitian yang tidak dipublikasikan

Remund, D., L.(2010).Financial Literacy Explicated: The Case of Clearer Definition in an Increasingly Complex Economy.The Journal of Consumer Affairs.

Sarigul, H. (2014).A Survey og Financial Literacy Among Univercity Student. The Journal of Accounting and Finance.

Sekaran, U. (2006).Metodologi Penelitian Untuk Bisnis.Salemba Empat.Jakarta

Shahnaz, N, and Tabani,, M., S.(2013).The Impact of Financial Literacy on Individual Saving:An Exploratory Study in The Malaysian Context.Transformation in Business and Economics,Vol 12 (no.1) 28.

Widiyati, S .(2014). Peluang Koperasi Dalam Pengetasan Kemiskinan. Jurnal Keuangan dan Bisnis .Vol 1 no.1

Widiyati,S, Fatati,Manarotul,Listiyani,Tyas.(2017).Peningkatan Literasi UMKM Batik di kota Salatiga. Laporan Penelitian tidak dipublikasikan.

Xiao, J.J. (2008). Handbook of Consumer Finance Research. Ed. New York, NY: Springer.

Yuniati,Y, and Yuningsih, A.(2017).Utilization of Smartphone Literacy in Learning Process.Mimbar: Jurnal Sosial dan Pembangunan,Vol. 33, No.1,hal. 90-98.

www.ojk.go.id




DOI: https://doi.org/10.29313/mimbar.vol34iss2pp%25p

Refbacks

  • There are currently no refbacks.

Comments on this article

View all comments




MIMBAR : Jurnal Sosial dan Pembangunan is licensed under  Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License