Article Per Year (5 Year)
p-Index From 2021 - 2026
0.23
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This Author published in this journals
All Journal Journal of Economics, Entrepreneurship, Management Business and Accounting
Evan Ferdinand
Universitas International Batam, Indonesia
Economics, Econometrics & Finance

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The Psychological Pathway to MSME Sustainability: Financial Literacy and Financial Efficacy Dewi Khornida Marheni; Evan Ferdinand; Wisnu Yuwono; Roque B. Cruz II
Journal of Economics, Entrepreneurship, Management Business and Accounting Vol 4 No 5 (2026): Volume 4, Issue 5, September 2026
Publisher : CV. Sakura Digital Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61255/jeemba.v4i5.1465

Abstract

Purpose – The purpose of this study is to examine the role of financial literacy and financial efficacy in building financial sustainability of MSMEs in Batam, Indonesia, where declining financial literacy rates and low entrepreneurial confidence may threaten MSMEs sustainability in the long term. Design/methodology/approach – This study uses a quantitative method with 339 MSME owners and managers in Batam as respondent. Semi structured interviews with three MSME entrepreneurs were subsequently conducted solely to provide contextual explanations for the quantitative findings. The hypotheses were tested using partial least squares structural equation modeling (PLS-SEM) with SmartPLS. Finding/Results – Financial attitude and financial knowledge were positively associated with financial literacy, while financial behavior does not. Financial literacy was positively associated with financial efficacy and financial sustainability, and financial efficacy mediates the relationship between financial literacy and financial sustainability. Originality/Value – Rather than treating financial efficacy as an additional predictor, this study position it as the psychological mechanism through which financial literacy is translated into MSME sustainability. By integrating the theory of planned behavior and social cognitive theory. This study provides theoretical, contextual, and methodological contributions to the literature on financial sustainability.
Co-Authors Dewi Khornida Marheni Roque B. Cruz II Wisnu Yuwono