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THE MODERATING ROLE OF ACCESS TO FINANCE IN ENHANCING THE IMPACT OF ENTREPRENEURIAL AND MARKET ORIENTATION ON SME PERFORMANCE IN INDONESIA Fitriasari, Fika; Indriani, Astiwi; Faza, Firdan Thoriq; Ubaidillah, Aan Fardani; Firmansyah, Muhammad
Jurnal Ekonomi Bisnis dan Kewirausahaan Vol. 15 No. 2 (2026): Jurnal Ekonomi Bisnis dan Kewirausahaan (JEBIK)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Tanjungpura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26418/jebik.v15i2.107609

Abstract

Micro, Small, and Medium Enterprises (MSMEs) play an important role in economic growth and employment generation; however, limited access to finance and market competitiveness remain major challenges affecting business performance. This study analyzes the effects of entrepreneurial orientation and market orientation on MSMEs’ financial and non-financial performance, as well as the moderating role of access to finance. This research employed a quantitative approach using survey data collected from 400 MSME owners and managers in Malang City, Indonesia. We analyzed the data using Covariance-Based Structural Equation Modeling (CB-SEM) in AMOS 21. The findings reveal that entrepreneurial orientation and market orientation positively and significantly influence both financial and non-financial performance. Access to finance significantly affects financial performance but not non-financial performance. Furthermore, access to finance strengthens the effect of market orientation on performance, while weakening the relationship between entrepreneurial orientation and financial performance. These findings highlight the importance of integrating strategic orientation and financial accessibility to enhance sustainable MSME performance. JEL: G21, L25, M13.
Co-Authors Abdillah, Lucky Rafly Achmad Supriyanto Afni, Rizky Nur Ahmad Matinul Haq Ahmad Shiddiq Ahmad Yusuf Sobr Akhmad, Khabib Fauzi Ali Imron Ali Imron Amri Amanulloh, Mochammad Ja'far Ardianti, Vika Astiwi Indriani Bambang Budi Wiyono Chidayatiningsih, Rina Choriyati, Ina Desy Anita Karolina Sembiring Dewi Ayu Sakdiyyah Dewi, Fadilah Eko Nurhaji Purnomo EKO YUSUF WAHYUDI Fanani, Muhammad Adip Fika Fitriasari Firdan Thoriq Faza Hakim, Athrusy Robiul Helga Graciani Hidajat Heny Kusdiyanti, Heny Ibrahim Bafadal Ifa Nurhayati Imron Arifin Imron Arifin Indra Febrianto Isna Nurul Inayati Isna Nurul Inayati Isna Nurul Inayati, Isna Nurul Laila Indra Lestari Lestari Eko Wahyudi Linda Afriani M Baihaqi Rizki Abdul Latif Maiysaroh, Maiysaroh Marbun, Marlina Mauludin, Iqwan melani albar Milatun Nadifa Mokhammad Nurruddin Zanky Mufti Nawang Prastiko Muhammad Firmansyah Mutmainnah Muzekki, Taufikur Rohman Nadifa, Milatun Nanik Ulfa Nanik Ulfa, Nanik Narmayani, Narmayani Nasikhah, Wulan Roudhotul Nawang Prastiko Nurul Ulfatin Nurwijayanti Pangesti, Teresma Trestia Permatasari, Nanda Santin Prahastiwi, Prani Prastiko, Mufti Nawang Raissa Dwifandra Putri Rimadani, Rida Rochmah, Luthfi Maulida Rochmawati Rochmawati Rofik, Abdur Setiawan, Khoirul Andri Setyawan, Jefri Nanang Sri Astuti Iriyani Trianjari, Novita Tuanany, Nursyahar Jihan Tyas Wulandari Ummu Salamah utari, tria ina Wahyudi, Eko Yusuf Wangi, Nisaul Barokati Seliro Wijaya, Robby Wiwit Suwargianto Yusuf Sobri, Ahmad Zein, Nafisah Zulvani, Nadia Vina