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INDONESIA
Journal of Economic, Business & Accounting Research
Published by Institute for Advanced Science, Social, and Sustainable Future
ISSN : -     EISSN : 30249813     DOI : -
Core Subject : Economy, Science,
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance
Journal of Economic, Business & Accounting Research (JEMBAR) is committed to encourage both theoretical research and its practice in the field of business economics, macroeconomics, and accounting. JEMBAR mainly promotes the application of empirical scientific works. However, the journal also consider publication of conceptual and state of the art contributions. Journal of Economic, Business & Accounting Research (JEMBAR) promotes the application of empirical scientific works. Its aim and scope includes the field of Economics, Business Management and Accounting, Human Resource Management, Financial Management, Operational and Strategic Management, Tourism, and Cooperatives.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 42 Documents
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The potential role of Pegadaian in supporting MSMEs: Perspectives from MSMEs entrepreneurs Ni Nyoman Padang Cakra Binaraesa; Ikayanti; Nuryadi
Journal of Economic, Business & Accounting Research Vol. 4 No. 1: (July) 2026
Publisher : Institute for Advanced Science Social, and Sustainable Future

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61511/jembar.v4i1.2026.3551

Abstract

Background: Micro, small, and medium enterprises (MSME) constitute the backbone of Indonesia’s people-centered economy; however, limited access to formal financing remains a significant structural constraint on their business sustainability. Existing literature on the role of Pegadaian (the Indonesian state-owned pawnshop institution) is predominantly characterized by quantitative and institutional approaches, leaving the subjective perspectives and lived experiences of MSME actors, the primary agents of the people’s economy largely underexplored. Methods: This study adopts a qualitative approach using a single case study design to obtain an in-depth understanding within a real-life context. Data were collected through in-depth interviews with a micro-entrepreneur operating a canteen business in Surabaya and analyzed using thematic analysis to identify patterns and meanings related to financing dynamics and institutional perceptions. Findings: The findings indicate that MSME actors tend to rely on self-financing to minimize financial risk and avoid social stigma associated with debt. A major operational challenge identified is seasonal income fluctuation, which threatens daily cash flow stability. Although Pegadaian is perceived as highly accessible with fast procedures, its utilization is constrained by low financial literacy and fears related to interest burdens and collection risks. Nevertheless, a form of latent trust emerges, as the informant acknowledges Pegadaian’s substantial potential as a liquidity provider for fellow MSME actors. Conclusion: Pegadaian holds strategic potential as a financial buffer that is crucial for MSME resilience in coping with short-term economic shocks. The success of financial inclusion depends not only on physical access to financial services but also on strengthening financial literacy and building trust through empathetic communication. Novelty/Originality of this article: The originality of this study lies in addressing an academic gap by presenting a qualitative perspective that highlights the psychosocial and cognitive dimensions of micro-entrepreneurs, offering a more contextualized and nuanced understanding of financial inclusion barriers that have been overlooked in conventional studies.
Pegadaian and the grassroots economy: Propensity score matching analysis of market expansion potential to support MSMEs financing Patricia Eunike Vanuela Simarmata; Firda Putri Kurniasari; Manuel Exaudi Hutajulu
Journal of Economic, Business & Accounting Research Vol. 4 No. 1: (July) 2026
Publisher : Institute for Advanced Science Social, and Sustainable Future

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61511/jembar.v4i1.2026.3554

Abstract

Background: Financial inclusion is a driver for economic growth in Indonesia, yet many micro and small enterprises (MSEs) face barriers due to collateral requirements and low financial literacy. This study aims to quantify the untapped market potential and evaluate the feasibility of transitioning borrowers from high-risk informal fintech to formal pawn-based services. Literature suggests that while digital finance expands access, usage divides persist in rural areas. Methods: Utilizing household-level microdata from the March 2024 National Socio-Economic Survey (SUSENAS), this study focuses on a sample of 5,769 MSE households. Analytical methods involve propensity score matching (PSM) with a nearest neighbor algorithm to identify "twins" in the potential group who share identical risk and asset profiles with existing Pegadaian clients. Findings: Results from Scenario 1 (n=118 treated observations) identify an expansion market exceeding 420,000 households characterized by high motorcycle ownership. Assuming an average micro-pawn loan of IDR 5 million per household, this identified expansion segment represents a potential credit disbursement opportunity exceeding IDR 2.1 trillion. Scenario 2 (n=29 treated observations) identifies a rescue market of over 3,200 households currently using high-cost online lending. While Scenario 1 achieves optimal covariate balance, post-matching balance in Scenario 2 exhibits slight deterioration, necessitating a more cautious interpretation of the rescue segment. Geospatial analysis discovers a spatial asymmetry, where market density is concentrated in Sumatra and Bali–Nusa Tenggara rather than Java. Conclusion: Pegadaian must pivot toward culturally adaptive expansion in outer regions to bridge the service-speed gap exploited by fintech competitors. Novelty/Originality of this article: The novelty lies in the pioneering data-driven estimation of the "Rescue Market" using PSM, providing a risk-adjusted roadmap for formalizing tech-savvy but financially vulnerable borrowers.

Page 5 of 5 | Total Record : 42

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