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All Journal International Journal of Social Science and Business Dinasti International Journal of Economics, Finance & Accounting (DIJEFA)
Nofal, Muhammad
Unknown Affiliation
Economics, Econometrics & Finance Social Sciences

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Attitudes and Digital Financial Literacy towards Performance through the Behavior of Small and Medium Enterprises in Palu City Fattah, Vitayanti; Surayya, Surayya; Husnah, Husnah; Nurdin, Dhayani; Darman, Darman; Nofal, Muhammad
International Journal of Social Science and Business Vol. 9 No. 1 (2025): February
Publisher : Universitas Pendidikan Ganesha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23887/ijssb.v9i1.87572

Abstract

The proliferation of micro, small, and medium enterprises (MSMEs) has emerged as a pivotal catalyst for economic proliferation. Discussions concerning MSMEs encompass a wide scope, as they pertain to the economic well-being of numerous small communities. The present study aspires to ascertain the impact of attitudes and digital financial literacy on performance, as evidenced by the actions of MSMEs in Palu City. This research was conducted employing a survey method, targeting MSMEs operating within the food and beverage sector in Palu City. This study utilizes a quantitative approach, collecting data through the distribution of questionnaires. The population and sample consist of 92 MSMEs in Palu City. The hypotheses were tested using Smart-PLS analysis. The results indicate that financial attitude and digital financial literacy do not significantly influence the performance of MSMEs in Palu City. However, financial management behavior moderates the influence of financial attitude and digital financial literacy on the performance of MSMEs in Palu City.
Capital Market Reaction to Free Nutritious Food Policy: A Case Study of Palm Oil Companies on Indonesia Stock Exchange Putri, Jihan Eka; Nofal, Muhammad; Husnah, Husnah; Risendy, Rian
Dinasti International Journal of Economics, Finance & Accounting Vol. 6 No. 5 (2025): Dinasti International Journal of Economics, Finance & Accounting (November - De
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v6i5.5142

Abstract

The Free Nutritious Meal Policy, targeted at school students, toddlers, and pregnant women, is implemented as an effort to reduce stunting and produce high-quality human resources. The reaction of investors in the capital market to this program remains unknown, even though the program directly increases the volume of food that will be consumed, such as palm cooking oil. Therefore, this research aims to test whether investors react to the MBG program by analyzing the abnormal returns of palm oil company stocks that are expected to receive direct positive impacts from the program. To this end, we examine this market reaction by conducting an event study based on the market model. The analysis utilizes return data from 24 palm oil company stocks listed on the BEI. We found that positive and significant abnormal returns occurred a few days before and after the event date, indicating an investor reaction to the MBG program. The variable abnormal returns suggest that the market reaction tends to be slow and spreads gradually and indirectly. The inconsistency in significant patterns indicates that market information is still developing, while also reflecting investors' cautious attitude toward government policies with broad impacts.
Co-Authors Darman Darman Husnah Husnah Nurdin, Dhayani PUTRI, Jihan Eka Risendy, Rian Surayya, Surayya Vitayanti Fattah