Indonesia Auditing Research Journal
Vol. 14 No. 3 (2025): September: Auditing, Finance, IT Plan, IT Governance, Risk

Comparative analysis of MSME capital structure in Indonesia before and after the covid-19 pandemic

Febriyanti, Ria Nelta (Unknown)
Fitriyanti, Eka (Unknown)
Sari, Novita (Unknown)

Article Info

Publish Date
30 Sep 2025

Abstract

This study aims to compare the capital structure of MSMEs in Indonesia before and after the COVID-19 pandemic. Using a descriptive-comparative literature review based on secondary data from Statistics Indonesia (BPS), Otoritas Jasa Keuangan (OJK), Bank Indonesia (BI), and the Ministry of Cooperatives and MSMEs, this research finds a significant shift in financing strategies. During the pandemic, MSMEs relied heavily on internal and informal financing, while in the recovery phase, fintech lending and government-supported financing gained prominence. These findings align with pecking order and trade-off theories and indicate the necessity for adaptive financial policies and enhanced financial literacy to strengthen MSME resilience.

Copyrights © 2025




Citation Download
RIS
EndNote, Reference Manager, ProCite
BibTex
Latex, Jabref
Original Source
Download Original
Google Scholar
Check in Google Scholar
Journal Info
Indonesia Auditing Research Journal
Website

Abbrev

ARJ

Publisher

Institute of Accounting Research and Novation

Subject

Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Languange, Linguistic, Communication & Media

Description

Indonesia Auditing Research Journal is a high-quality specialist journal that publishes articles from the broad spectrum of auditing. Its primary aim is to communicate clearly, to an international readership, the results of original auditing research conducted in research institutions and/or in ...