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Bulletin of Management and Business
ISSN : 27456927     EISSN : 27222373     DOI : 10.31328
Bulletin of Management and Business or abbreviated as BMB is national journal, peer reviewed, open access, online journal of applied research in the field of management and  business area. it is designed to provide a rapid dissemination of original, up to date ideas and timely and significant contributions to the development of management science and its further application to business processes. Bulletin of Management and Business is managed by The Study Program of Management, Economic and Business Faculty, Widyagama University of Malang. BMB is published twice a year, published in march and october in electronic format with free online access, and also in printed form. submitted papers can be indonesian but abstracts must be written in indonesian and english for the initial review stage by the editor and the process of further review with reviewers. ISSN 2722 2373  online, 2745 6927 print. These Topics Are Discussed In Complete Academic Articles, Critical Statements About Current Problems, Development Practices, And Book Based Signal Review And Image Processing. The Purpose Of This Journal Is To Publish Original And High Quality Research Papers In The Fields Of Management That Encompass Financial Management, Marketing Management, Human Resource Management, Operational Management, Strategic Management Which Are All Closely Related To The Companys Business Processes And Small And Medium Businesses. This Encourages Debate And Interdisciplinary Exchanges In Various Approaches.The Journal Will Be Published Research Papers On The Following Topics, But Not Limited To Human Resource Management, Financial Management, Marketing Management, Strategic Management, Organizational Behavior, Operations Management, Change Management, Management Of Sharia, Knowledge Management, Entrepreneurship, Capital Market, Corporate Business, Smes Business, E Business.
Articles 111 Documents
How Do Informal Financial Practices Emerge in MSME Management? A Grounded Theory–Informed Thematic Analysis Iswari, Hanif Rani; Nisful Laili, Choirun; Wandani Mustika Rahma Ba'its Nur, Ayu
Bulletin of Management and Business Vol. 6 No. 2 (2025): October 2025
Publisher : Program Studi Manajemen, Fakultas Ekonomi dan Bisnis, Universitas Widya Gama

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31328/bmb.v6i2.455

Abstract

This study explores how informal financial practices emerge and are sustained in the management of micro, small, and medium enterprises (MSMEs). Departing from conventional financial research that prioritizes rationality and formal accounting systems, this study adopts an inductive perspective that views financial practices as socially constructed, experience-based, and contextually embedded behaviors. Consistent with this approach, the study does not predefine variables but allows conceptual understanding to emerge from empirical evidence. A qualitative design employing grounded theory–informed thematic analysis was used. Data were collected through in-depth interviews, participant observation, and document analysis at Omah Sayur MQ’s, a retail-based MSME in Malang, Indonesia. Data analysis followed iterative stages of open coding, axial coding, and selective coding to identify recurring behavioral patterns, interpretive meanings, and social processes underlying financial management practices. The findings indicate that MSME financial practices are shaped by habitual routines, intuitive judgment, and relational dynamics rather than formal accounting logic. These practices are characterized by reliance on memory, resistance to formal record-keeping, intuition-based financial decision-making, and trust-oriented financial relationships. Integrating these empirical themes, the study inductively constructs Informal Financial Behavior (IFB) as a patterned and context-dependent mode of financial behavior that operates along a continuum of informality rather than as a binary condition. This study contributes theoretically by extending behavioral accounting literature through an empirically grounded conceptualization of informal financial behavior. Methodologically, it demonstrates the relevance of grounded theory for developing behavioral constructs and provides an initial framework for measuring the level of informal financial behavior among MSMEs. Practically, the findings suggest that financial literacy and inclusion initiatives should move beyond technical instruction and engage with existing behavioral patterns to promote more inclusive and context-sensitive financial interventions.

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