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All Journal EKUITAS (Jurnal Ekonomi dan Keuangan)
Nanda Gyska Restiana
Universitas Widyatama
Economics, Econometrics & Finance

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FINANCIAL PLANNING MEDIATES FINANCIAL LITERACY AND CAPITAL ACCESS IN ENTERPRISE INVESTMENT DECISIONS Neneng Susanti; Sakina Ichsani; Denny Saputera; Nanda Gyska Restiana
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 10 No 3 (2026): September
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24034/j25485024.y2026.v10.i3.7867

Abstract

This study examines the influence of financial literacy and access to capital on investment decisions, with financial planning as a mediating variable among food and beverage Micro, Small, and Medium Enterprises (MSMEs) in West Java, Indonesia. This research employed a quantitative approach using a descriptive and verificative design. Data were collected from 135 MSME owners selected through stratified random sampling using a Likert-scale questionnaire. The results indicate that financial literacy and access to capital have positive and significant effects on financial planning. Financial literacy and access to capital also have positive and significant direct effects on investment decisions. Furthermore, financial planning has a positive and significant effect on investment decisions and significantly mediates the relationship between financial literacy, access to capital, and investment decisions. The study highlights that improving MSME investment decisions requires strengthening financial literacy, expanding access to capital, and encouraging effective financial planning practices simultaneously. These factors contribute to better resource allocation and support the long-term sustainability of food and beverage MSMEs.
Co-Authors Neneng Susanti Sakina Ichsani Saputera, Denny