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Journal : Indonesian Journal of Business and Entrepreneurship (IJBE)

Financial Decisions in Family Business: The Application of Financial Growth Cycle and The Theory of Planned Behavior Nurchayati, Nurchayati; Suprantiningrum, Rr.; , Muchayatin; Soegiastuti, Janti
Indonesian Journal of Business and Entrepreneurship Vol. 10 No. 1 (2024): IJBE, Vol. 10 No. 1, January 2024
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.10.1.40

Abstract

Family businesses are influenced by economic and non-economic factors when it comes to making decisions, including financing decisions for business growth. In particular, individual financial attitudes could greatly affect financial behavior in family firms. This study explored the relationship between access to information, external sources, family norms, and experience in influencing financing decisions for family business growth. The study collected data through questionnaires from 153 managers/owners in micro, small, and medium enterprises in Semarang. It used a quantitative method with regression analysis techniques with the Structural Equation Modeling (SEM) using AMOS software. The study found that information access (S.E.=0.078; p-value=0.001), external sources (S.E.= 0.055; p-value=0.000), family norms (S.E.= 0.069; p-value=0.000) had significant effects on experience. Moreover, financing decisions were influenced by family norms (S.E.= 0.072; p-value=0.000), and experience (S.E.= 0.089; p-value=0.001). The results also show that experience could mediate the relationship between access to information and external sources with financing decisions. Based on these findings, family businesses need to consider these factors when making financing decisions to succeed carefully. This study provides important insights for family businesses looking to make informed and effective decisions regarding financing their growth. Keywords: financing decisions, family business, financial growth cycle, theory of planned behavior
Co-Authors , Muchayatin Achmad Zainuri Adia Syifa Isnani Adissa Indriana Putri Agung Wibowo Agung Wibowo Alifiya Ufaida Amanda, Nadia Desya Amelia, Ayu Andalan Tri Ratnawati Andre Dwy Prayoga Andreas Saputro Aqila Carinda Naura Arif Mulyanto Arif Mulyanto, Arif Arif Wahyu Setyo Budi Aris Mardiyono Ariyanti, Rini Attar Husna Fathiya Attin Munadhiroh Burhanuddin Burhanuddin Cahyawati, Fitnaningsih Endang Cahyono Cahyono CH Astra Nugraha Dayanti, Agustina Diah Dwi Rahmawati Endang Swastuti Fachrama Fachrama FIRMAN PRIBADI Frans Sudirjo Hafidah, Nur Hafidz Hamidah Yusuf, Abdul Hartono, Rudi Hasyim Hasyim Hendry Sakke Tira, Hendry Sakke Herlina Herlina Hermawan, Andreas Dani Tjoa Heru Eko Prasetyo Hikmah Hikmah I Wayan Joniarta I.B. Alit, I.B. Ida Bagus Gde Gianyar, Ida Bagus Ikut, Camilus Isidorus Indriawati, Aulia IRA DARMAWANTI Irgi Biantara Irine Putri Nalaria Isnaini Putri Arifin Jamaluddin Majid Janti Soegiastuti Jaro'ah, Siti Joko Riyanto Judijanto, Loso Jumrotun, Jumrotun Juniarto, Galuh Kristanto, Ardhy Kristianingsih, Eni KURNIATAMA, SONYADI KUSUMA WARDANI Kusumawati, Yupie Laurina, Nia Alna Liestyowati Liestyowati Lina Listyawati Lisa Erfi Yunita LISTIANA SRI MULATSIH LITAMAHUPUTTY, JACOMINA VONNY M Syahrul Made Wijana, Made Marianingsih, Ita Merita Arini Moch Zihad Islami Muchayatin Muchayatin Muchayatin, Muchayatin Muhammad Yusron Maulana El-Yunusi Mulastih, Listiana Sri Musprihadi, Ribut Mutiarachim, Atika Nugraha, Asta Nur Widawati, Desi Nurajizah Nurajizah Nurpatria Nurpatria, Nurpatria Oxzy Yoga Pratama Pandri Pandiatmi Paramarta, M.Magistra Apta Parju Parju Parju Parju Parju, Parju Pradanawan Febiansyah Nugraha Prasetyo, Heru Eko Pratiwi, Silvi Priyombodo, Bony Purnawarman Purnawarman, Purnawarman Puspitowarno Puspitowarno Rahman, Fitri Aulia Ratna Diyah Ayu Permatasari Ratnawati Dwi Putranti Honorata Rizkina Intan Pandini RR. Ella Evrita Hestiandari Rr. Suprantiningrum Rudy Sutanto S.H. Pamuji, S.H. Sadam Husaini SAYIDATIN NASAROH Setyabudi, Setyabudi Setyawati, Selvia Lilis Setyobudi Setyobudi Setyobudi Setyobudi Setyonugroho, Winny Sinarep Sinarep SIPAKOLY, SELLY Siska Yuli Anita Siti Aminah Siti Ulfiyani, Siti Sonia, Eva Sri Puji Lestari Sri Suprapti Sri Suprapti Sukardi Sukardi Sukirman Sukirman Sulistyani Sulistyani Suparjo Suparmi Suparmi Suparmi Suparmi Supriyatno, Mega Suroto Suroto Suroto suroto Suyati - Tariza Aprilia Devianti Tety Aprilla Rismawani Tiara Putri Innayah Tri Widayati Vania Ardelia Warih Andan Puspitosari Widi - Hariyanti Widi Kurniawan Wijayanti, Indah Oktari Wulan Sari, Nova Lailan Wuryantoro, Javier Atallariz Yahya Yahya Yahya, Muhammad Rizky Yasmien, Nurria Yesung Allo Padang Yesung Allo Padang, Yesung Allo Yolandha Raharjo Yunita, Lisa Erfi Zulkarnain, Andre