Article Per Year (5 Year)
p-Index From 2021 - 2026
0.444
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All Journal International Journal of Economic, Technology and Social Sciences (Injects)
Khairun Amala
Universitas Syiah Kuala
Religion Agriculture, Biological Sciences & Forestry Humanities Computer Science & IT Economics, Econometrics & Finance Education Industrial & Manufacturing Engineering Public Health Social Sciences

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Financial Literacy and SME Financial Performance, The Mediating Roles of Marketing Capability and Human Capital Khairun Amala; Sophia Imari; Wirdah Irawati; Muhammad Basyir; Fakhri Ramadhan
International Journal of Economic, Technology and Social Sciences (Injects) Vol. 6 No. 2 (2025): October 2025
Publisher : CERED Indonesia Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53695/injects.v6i2.1553

Abstract

This study examines the effect of financial literacy on financial performance and the mediating roles of marketing capability and human capital. A quantitative cross-sectional survey was conducted with 124 respondents, and data were analyzed using PLS-SEM. The results show that financial literacy has a positive total effect on financial performance (? = 0.595). Financial literacy significantly enhances marketing capability (? = 0.446) and human capital (? = 0.396), which in turn positively influence financial performance. Human capital shows the strongest effect (? = 0.544), followed by marketing capability (? = 0.372). Mediation analysis confirms partial mediation, with indirect effects of 0.166 (marketing capability) and 0.215 (human capital). The model explains 63.2% of the variance in financial performance, indicating strong explanatory power. The findings suggest that financial literacy improves financial outcomes both directly and indirectly through capability development. This study contributes by integrating financial literacy theory, resource based view, and human capital theory into a unified mediation framework.
The Evolution of Sectoral Risk Return Profiles in the Indonesian Stock Market: Evidence from 2023–2026 Khairun Amala
International Journal of Economic, Technology and Social Sciences (Injects) Vol. 7 No. 1 (2026): May 2026
Publisher : CERED Indonesia Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53695/injects.v7i1.1714

Abstract

This paper reviews the formation of sectoral risk-return profiles of the Indonesian stock market for 2023-2026. This research is a quantitative descriptive comparative study that explains the Jakarta Composite Index and IDX sectoral indices in terms of return, risk, risk-adjusted performance, and sectoral positioning. Data were collected from publications of Indonesia Stock Exchange and processed by Excel and R software. The results show that the sectoral investment attractiveness was dynamic, not static. The Jakarta Composite Index was a useful market benchmark, but it did not fully reflect the sectoral differences. Energy, Properties & Real Estate, Healthcare and Infrastructures displayed relatively efficient risk-adjusted profiles over the entire observation period. Yet, the annual results revealed that sectoral attractiveness varied according to market phases. Technology was the best performing sector in 2025 and Industrials had an exceptional position in the interim period of 2026. This study adds to the literature by proposing the Sectoral Investment Positioning Matrix, a practical framework for understanding the concepts of sectoral repositioning, sector rotation, portfolio allocation, and risk management, in an emerging market context.
Co-Authors Fakhri Ramadhan Muhammad Basyir Sophia Imari Wirdah Irawati