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All Journal Jurnal Akuakultur Indonesia Sang Pencerah: Jurnal Ilmiah Universitas Muhammadiyah Buton Jurnal Pengabdian Kepada Masyarakat MEMBANGUN NEGERI Media Agribisnis Pamulang Law Review Jurnal Pengabdian kepada Masyarakat Nusantara INTELEKTIVA Jurnal Pengabdian Perikanan Indonesia Jurnal Media Akuakultur Indonesia Jurnal Pengabdian Khairun JICS : Journal Of International Community Service Jurnal Ragam Pengabdian
Failu, Ismail
Program Studi Pengelolaan Sumberdaya Perairan Universitas Muhammadiyah Buton
Religion Agriculture, Biological Sciences & Forestry Arts Humanities Biochemistry, Genetics & Molecular Biology Chemistry Computer Science & IT Decision Sciences, Operations Research & Management Earth & Planetary Sciences Economics, Econometrics & Finance Education Engineering Environmental Science Health Professions Immunology & microbiology Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Public Health Social Sciences Transportation Other

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Pengaruh Struktur Pembiayaan terhadap Risiko Utang UMKM Perikanan di Kabupaten Buton Selatan Ahmad Daholu; Ismail Failu; Deki Pardana; Fariz Mustaqim
Jurnal Ragam Pengabdian Vol. 3 No. 2 (2026): Mei-Agustus, Sustainable Development Goals (SDGs): Multidisciplinary Perspectiv
Publisher : Lembaga Teewan Journal Solutions

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62710/aq8m0040

Abstract

This study analyzes the effect of financing structure on debt risk among fishery MSMEs in South Buton Regency, Indonesia. Using a mixed-methods approach with a survey of 200 MSMEs, this research developed a Financial Structure Index (FSI) and applied Structural Equation Modeling (SEM). The results show that 66.5% of MSMEs rely on informal financing (pengambe) with an effective interest rate of 238.94% per year. The proportion of informal financing has a positive and significant effect on the probability of default (beta=0.0067; p<0.001) and financial distress index (beta=0.440; p<0.001). MSMEs with a hybrid structure exhibit significantly lower default risk (0.205 vs 0.392; p<0.001) and lower weighted cost of capital (153.39 vs 199.45; p<0.001) compared to informal-dominant MSMEs. These findings underscore the urgency of policy interventions through a blended financing framework that integrates formal credit access, financial literacy, and risk-sharing mechanisms.
Co-Authors Ahmad Daholu Antasalam Ajo ARDY LESTARY AWALUDDIN RASYID Arfandi Arfandi Azelia Monica Azizu Azizu, Azelia Monica Bahtiar Hamar Bone, Abdul Hadi Buton, La Jihat Cahyani, Wa Ode Siti Cahyani, Waode Sitti Cecep Nuryadin, Safrin Edy & Defri, Muhamad Deki Pardana Eddy Supriyono Fariz Mustaqim Findra, Muhammad Nur HAJIA, MUHAMMAD Junaidin Sirza, La Ode Muhammad Kasman Kasman Nila Nikmatia Bugis Riyadi Subur, Riyadi Safrin Salam Sayfullah S, Muh. Sirza, L. M. Junaidin Sirza, LM Junaidin Sitania, Yusti Sofyan Sofyan Suseno, Sugeng Hari TARNO Wa Ode Cahyani Wardana Wardana Yusti Sitania