Exploring The Impact Of Green Finance, Financial Literacy, And Social Capital On The Performance And Financial Sustainability Of Indonesian MSMEs
Keywords:
Green Finance, Financial Literacy, Social Capital, MSMEs, Financial Performance, Sustainability, Indonesia.
Abstract
The long-term survivability and financial performance of Micro, Small, and Medium-Sized Enterprises (MSMEs) in Indonesia are examined in this study in relation to social capital, financial literacy, and green finance. A quantitative approach that blended structural equation modeling (SEM) and partial least squares (PLS) regression analysis was used to examine survey data collected from a sample of 267 MSMEs. The study found that sustainability, social capital, financial literacy, and green finance are strongly correlated with the financial success of MSMEs. It was shown that MSME performance and sustainability were specifically enhanced by social capital, financial literacy, and green finance. The findings emphasize how important it is to integrate sustainable practices, raise financial literacy, and foster social networks within Indonesia's MSME sector in order to promote inclusive growth and sustainable development
References
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[26] D. Verma, R. Kalra, and S. S. Baheti, “Examining the Domain of Green Finance Through Bibliometric Research Analysis of 22 Years (2000–2022): An Analytical Retrospective,” Vision, p. 09722629231157470, 2023.
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[30] M. V -, “Financial Literacy: an Initiative Taken by the Government of Karnataka,” International Journal For Multidisciplinary Research, vol. 5, no. 3, pp. 3–7, 2023, doi: 10.36948/ijfmr.2023.v05i03.3801.
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[34] H. Wäsche, “The social capital structure of a small-scale sport event: configuration, evolution, and legacy,” International Journal of Sport Management and Marketing, vol. 20, no. 3–4, pp. 289–309, 2020.
[35] P. Manning, “The social capital concept in management and organizational literature: A synthesis and critical discussion of contemporary applications and research directions,” International Journal of Organizational Analysis, vol. 25, p. 0, Sep. 2017, doi: 10.1108/IJOA-05-2017-1172.
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[38] M. Nieto and N. González-Álvarez, “Social capital effects on the discovery and exploitation of entrepreneurial opportunities,” International Entrepreneurship and Management Journal, vol. 12, pp. 507–530, 2016.
[39] OECD, The role of networks for SME innovation, resilience and sustainability. 2023.
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[41] L. Zhang, H. B. Saydaliev, and X. Ma, “Does green finance investment and technological innovation improve renewable energy efficiency and sustainable development goals,” Renewable Energy, 2022.
[42] H. Hamdana, H. Pratikto, and S. Sopiah, “A Conceptual Framework Of Entrepreneurial Orientation, Financial Literacy, And MSMEs Performance: The Role Of Access To Finance,” Devotion Journal of Community Service, vol. 3, no. 2, pp. 67–82, 2021, doi: https://doi.org/10.36418/dev.v3i2.96.
[43] H. S. Sufyati, T. Handayani, F. Marzuki, and A. H. Zaelani, “Socialization of Islamic Financial Institution Literacy in MSMEs Upscale in DKI Jakarta,” Mattawang: Jurnal Pengabdian Masyarakat, vol. 3, no. 4, pp. 409–414, 2022.
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Published
2024-07-08
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Copyright (c) 2024 Efriyani Sumastuti, Subur Harahap, Godlif Sianipar
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