Pengaruh Literasi Keuangan dan Riset & Pengembangan (R&D) terhadap Kinerja UMKM di Indonesia dengan Perspektif Syariah

Authors

Yasminnasywa Iskandar Universitas Islam Tazkia
Ries Wulandari Universitas Islam Tazkia

DOI:

Abstract

This study aims to analyze the influence of Financial Literacy and Research and Development (R&D) on MSME performance in Indonesia, involving 70 MSMEs from various sectors. A quantitative approach was used, using Partial Least Squares–Structural Equation Modeling (PLS-SEM), to assess the measurement and structural models. The analysis results show that all indicators in the reflective model meet validity and reliability criteria, as indicated by loading factor, Composite Reliability, and Average Variance Extracted (AVE) values that are above the recommended minimum limit. In the structural model, Financial Literacy is shown to have a stronger influence on MSME performance with an f² value of 0.309 (moderate effect), while R&D has a smaller effect, with an f² value of 0.149 (small effect). The R² value of 0.631 indicates that both variables can explain 63.1% of the variation in MSME performance. These findings confirm that financial literacy is a key foundation for improving MSME performance, while R&D activities continue to contribute, albeit on a more limited scale. This research provides important implications for the government and business development institutions to strengthen financial education programs and support innovation to enhance the competitiveness of MSMEs in Indonesia.

Keywords: Business Development, Financial Literacy, MSME Performance, Indonesia, Innovation, PLS-SEM, R&D.

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