Analyzing the Impact of Islamic Literacy, Technology, and Experience on MSME Performance: The Role of Spirituality as a Moderating Variable

Adhi Widyakto, Johanis Souisa, Citra Andriani Kusumawati, Endang Tri Widyarti

Abstract


Research Aims: This study aims to explore the influence of Islamic financial literacy, Islamic fintech, and financial experience on the performance of Micro, Small, and Medium Enterprises (MSMEs), considering spirituality as a potential moderating variable.
Design/Methodology/Approach: Employing a sample of 126 MSME owners in Semarang, this research utilizes Hair’s model of calculations. The analytical method applied is multiple regression analysis using the third version of the SmartPLS software.
Research Findings: The findings indicate that Islamic financial literacy, Islamic financial technology, and financial experience have a positive and significant impact on MSME performance. However, spirituality did not significantly moderate the relationship between Islamic financial literacy, Islamic fintech, and financial experience on MSME performance.
Theoretical Contribution/Originality: This study contributes to the resource-based view theory by examining how a firm’s capabilities and internal resources, conceptualized as a bundle of resources and capabilities, interact with external spiritual values to influence MSME performance. It also addresses the role of internal resources in fostering competition within firms to achieve their goals.


Keywords


Islamic Financial Literacy; Islamic Financial Technology; Financial Experience; Spirituality; MSME Performance

Full Text:

PDF

References


Adiandari, A. M. (2022). Financial Performance Innovation Since Digital Technology Entered Indonesian MSMEs. International Journal for Applied Information Management, 2(1), 50–58.

Alharbi, R. K., Yahya, S. Bin, & Kassim, S. (2022). Impact of religiosity and branding on SMEs performance: does financial literacy play a role? Journal of Islamic Marketing, 13(12), 2717–2741. https://doi.org/10.1108/JIMA-08-2019-0162

Alvarez, S. A., & Busenitz, L. W. (2001). The entrepreneurship of resource-based theory. Journal of Management, 27(6), 755–775. https://doi.org/10.1177/014920630102700609

Ameliawati, M., & Setiyani, R. (2018). The Influence of Financial Attitude, Financial Socialization, and Financial Experience to Financial Management Behavior with Financial Literacy as the Mediation Variable. KnE Social Sciences, 3(10), 811. https://doi.org/10.18502/kss.v3i10.3174

Arokodare, M. ., & Asikhia, O. (2020). Strategic Agility: Achieving Superior Organizational Performance through Strategic Foresight. Global Journal of Management and Business Research, 20(September), 7–16. https://doi.org/10.34257/gjmbravol20is3pg7

Desiyanti, R., & Kassim, A. A. M. (2020). Financial Literacy on Business Performance: The Moderating Effect of Religiosity Among SMEs In Sumatera, Indonesia. International Journal of Academic Research in Accounting, Finance and Management Sciences, 10(2). https://doi.org/10.6007/ijarafms/v10-i2/7371

Diana, K. M., & Lutfi, L. (2021). Experience, Knowledge, on Financial Behavior, Mediation of Loc, Moderation of Number of Dependents. Jurnal Riset Bisnis Dan Manajemen, 14(2), 71–79. https://doi.org/10.23969/jrbm.v14i2.4417

Dinc, Y., Çetin, M., Bulut, M., & Jahangir, R. (2021). Islamic financial literacy scale: an amendment in the sphere of contemporary financial literacy. ISRA International Journal of Islamic Finance, 13(2), 251–263. https://doi.org/10.1108/IJIF-07-2020-0156

Hair, J. F., Sarstedt, M., Hopkins, L., & Kuppelwieser, V. G. (2014). Partial least squares structural equation modeling (PLS-SEM): An emerging tool in business research. European Business Review, 26(2), 106–121. https://doi.org/10.1108/EBR-10-2013-0128

Hiyanti, H., Nugroho, L., Sukmadilaga, C., & Fitrijanti, T. (2020). Peluang dan Tantangan Fintech (Financial Technology) Syariah di Indonesia. Jurnal Ilmiah Ekonomi Islam, 5(3), 326–333. https://doi.org/10.29040/jiei.v5i3.578

Kusuma, I. N. P. (2019). Pengaruh Literasi Keuangan Terhadap Inklusi Keuangan Melalui Financial Technology Pada UMKM di Bandar Lampung. 247–252.

Meida, A., & Kartini. (2023). Pengaruh Financial Knowledge, Financial Experience, dan Financial Attitude terhadap Financial Behavior pada Pemilik UMKM di Kota Kudus. Selekta Manajemen: Jurnal Mahasiswa Bisnis & Manajemen, 02(02), 181–199.

Menne, F., Mardjuni, S., Yusuf, M., Ruslan, M., Arifuddin, A., & Iskandar, I. (2023). Sharia Economy, Islamic Financial Performance and Factors That Influence It—Evidence from Indonesia. Economies, 11(4), 1–23. https://doi.org/10.3390/economies11040111

Purwidianti, W., & Tubastuvi, N. (2019). The Effect of Financial Literacy and Financial Experience on SME Financial Behavior in Indonesia. Jurnal Dinamika Manajemen, 10(1), 40–45. https://doi.org/10.15294/jdm.v10i1.16937

Safrianti, S., Puspita, V., Shinta, S. D., & Afriyeni, A. (2022). Tingkat financial technology terhadap peningkatan kinerja UMKM dengan variabel intervening inklusi keuangan pada pelaku UMKM Kota Bengkulu. MBR (Management and Business Review), 6(2), 212–227. https://doi.org/10.21067/mbr.v6i2.7538

Sanjaya, V. F. (2020). The Mediating Role of Company Non-Financial Performance and Religiosity As a Moderating Variable Between Learning Orientation and Company Financial Performance. REVENUE: Jurnal Manajemen Bisnis Islam, 1(01), 31–46. https://doi.org/10.24042/revenue.v1i01.5682

Trianto, B., Barus, E. E., & Sabiu, T. T. (2021). Relationship Between Islamic Financial Literacy, Islamic Financial Inclusion and Business Performance: Evidence From Culinary Cluster of Creative Economy. Ikonomika, 6(1), 19–3. https://doi.org/10.24042/febi.v6i1.7946

Tuffour, J. K., Amoako, A. A., & Amartey, E. O. (2020). Assessing the Effect of Financial Literacy Among Managers on the Performance of Small-Scale Enterprises. Global Business Review. https://doi.org/10.1177/0972150919899753

Usama, M. K., Tun, U., Onn, H., Fauziah, W., Yusoff, W., Tun, U., & Onn, H. (2020). The Impact of Financial Literacy on Business Performance. International Journal of Research and Innovation in Social Science (IJRISS), December.




DOI: https://doi.org/10.18196/mb.v15i1.19859

Refbacks

  • There are currently no refbacks.


Copyright (c) 2024 Adhi Widyakto, Johanis Souisa, Citra Andriani Kusumawati, Endang Tri Widyarti

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.


Office: 

Ruang Jurnal Manajemen Bisnis, 
Gedung Ki Bagus Hadikusuma (E4) Lantai 2, Kampus Terpadu Universitas Muhammadiyah Yogyakarta,
Jalan Brawijaya (Lingkar Selatan), Tamantirto, Kasihan, Bantul, Daerah Istimewa Yogyakarta, Indonesia, 55183
Website: journal.umy.ac.id/index.php/mb - E-mail: mabis@umy.ac.id
Phone: +62 274 387 656 (ext: 118)

Jurnal Manajemen Bisnis is licensed under Creative Commons Attribution-ShareAlike 4.0 International (CC BY-SA 4.0)