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The Influence of Business Owner Characteristics, Financial Literacy, and Financial Inclusion on Business Capital Choice Decision and its Implications for Business Growth Mahya, Yuszak; Dewi, Nanny; Hasbu, Wiyas Yulias
Eduvest - Journal of Universal Studies Vol. 5 No. 7 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i7.51816

Abstract

This study analyzes the influence of business owner characteristics, financial literacy, and financial inclusion on capital structure decisions and their implications for business growth in Micro, Small, and Medium Enterprises (MSMEs). Using a quantitative approach, data were collected through questionnaires distributed to 208 MSME owners in the Jabodetabek area who are members of the Ilmukeuangan.com Alumni Community, selected through purposive sampling with criteria of having operated for at least one year. The research variables include entrepreneur characteristics, financial literacy, and financial inclusion as independent variables, capital structure as a mediating variable, and business growth as the dependent variable. Data analysis was conducted using Structural Equation Modeling (SEM) through SmartPLS 3.0. The results show that the research model has moderate predictive strength with R-Square values of 0.571 for business growth and 0.565 for capital structure, and a Goodness of Fit (GoF) value of 0.594 indicating a robust model. Of the six direct effect hypotheses tested, four were accepted and two were rejected. Financial literacy (T-stat: 5.421) and financial inclusion (T-stat: 9.452) significantly influence capital structure, while entrepreneur characteristics do not have a significant effect. For business growth, entrepreneur characteristics (T-stat: 7.725) and financial inclusion (T-stat: 3.759) show significant direct effects, but capital structure does not significantly influence business growth. The mediation test results indicate that capital structure significantly mediates the relationship between financial literacy and financial inclusion on business growth, but does not mediate the relationship between entrepreneur characteristics and business growth.
THE IMPACT OF WORKING CAPITAL MANAGEMENT TO PROFITABILITY OF MANUFACTURING COMPANY LISTED IN INDONESIAN STOCK EXCHANGE Utia, Valiensi; Dewi, Nanny; Sutisna, H.
Hasanuddin Economics and Business Review VOLUME 2 NUMBER 1, 2018
Publisher : Faculty of Economics and Business, Hasanuddin University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26487/hebr.v2i1.1441

Abstract

ABSTRACT Manufacturing companies in Indonesia are increasing in number in recent years. Large growth should be balanced with good working capital management due to the manufacturing company is carrying out buying of raw material activity, afterward convert them into semi-finished goods and finished goods. Cycles from purchasing goods, inventory management, debt repayment, product sales, cash received will have effect on profitability.Purpose of this study to determine whether working capital management affect profitability of manufacturing companies publicly listed on Indonesian Stock Exchange from 2010-2015. This study uses quantitative method by using linear regression analysis tool on panel data.Results of this study found that the component of working capital proved to affect profitability of manufacturing companies Listed in Indonesian Stock Exchange. Therefore the companies should be able to manage properly their working capital. Manufacturing companies should improve their management pattern applied to their current assets and current liabilities. Working capital management should be performed by shortening cash conversion cycle, debt withholding, and by increasing current assets value due to it proves to be able to improve profitability of the company.