INFLUENCE OF FINANCIAL LITERACY, MANAGERIAL EXPERIENCE ON FINANCIAL MANAGEMENT PERFORMANCE OF SMES IN SURABAYA

  • Olivia Aurelia Heryanto Finance and Investment Program, Faculty of Business and Economics, Petra Christian University
  • Pwee Leng Finance and Investment Program, Faculty of Business and Economics, Petra Christian University
Keywords: Financial Literacy, Managerial Experience, Financial Management Performance, SMEs

Abstract

This study aims to determine the effect of financial literacy and managerial experience on financial management performance of SMEs. The data collection technique in this study was using a questionnaire distributed to 400 SME owners in Surabaya. The data that has been collected is then processed by the logistic regression analysis method using the software IBM SPSS Statistics 25. The results show that financial literacy and managerial experience variables significantly affect financial management performance variables.

Downloads

Download data is not yet available.

References

Agyapong, D., & Attram, A.B. (2019). Effect of Owner-Manager’s Financial Literacy on the Performance of Smes in the Cape Coast Metropolis in Ghana. Journal of Global Entrepreneurship Research, 9, 2-13

Almarri, K., & Gardiner, P. (2014). Application of Resource-Based View to Project Management Research: Supporters and Opponents. Procedia - Social and Behavioral Sciences, 119, 437-445.

Aribawa. (2016). The Effect of Financial Literacy on the Performance and Sustainability of MSMEs in Central Java. E-Jurnal UAJY, 20(1), 1-13.

Central Bureau of Statistics. (2016). Number of Businesses/Companies by Region and Income/Turnover Group of East Java Province. Retrieved from the 2016 Economic Census: https://se2016.bps.go.id/umkumb/index.php/site/tabel?tid=45&wid=3500000000

Balsmeier, B., & Czarnitzki, D. (2014). How Important is Industry Specific Managerial Experience for Innovative Firm Performance?. ZEW Discussion Papers, 14-011.

Bangga Surabaya. (2018). Mayor Risma: 98 Percent of the Economy in Surabaya Comes from SMEs. Retrieved from https://humas.surabaya.go.id/2018/03/08/wali-kota-risma-98-persen-ekonomi-di-surabaya-berasal-dari-pelaku-ukm/

Basana, S.R., & Tarigan, Z.J.H. (2021). The Effect of Essential Information and Disposition Effect on Shifting Decision Investment. Accounting 8(2), 264-276, 10.5267/j.ac.2021.6.015.

Eniola, A.A., & Entebang, H. (2017). SME Managers and Financial Literacy. Global Business Review, 18(3), 1-18.

Foster, B. (2001). Coaching for Employee Performance Improvement. PPM. Jakarta

Kementerian Koordinator Bidang Perekonomian. (2018). UMKM Sumbang 60 Persen ke Pertumbuhan Ekonomi Nasional. Liputan6. Retrieved from https://www.liputan6.com/bisnis/read/3581067/umkm-sumbang-60-persen-ke-pertumbuhan-ekonomi-nasional

Kementerian Koperasi dan Usaha Kecil dan Menengah Republik Indonesia. (2017). Perkembangan Data Usaha Mikro, Kecil, Menengah (UMKM) dan Usaha Besar (UB) Tahun 2016 – 2017. Retrieved from http://www.depkop.go.id/uploads/laporan/1549946778_UMKM%202016-2017%20rev.pdf

Kidwell, B., & Turrisi, R. (2004). An Examination of College Student Money Management Tendencies. Journal of Economic Psychology, 25(5), 601–616. https://doi.org/10.1016/S0167-4870(03)00073-4

Koerniawan, S. A., & Malelak, M. I. (2021). The Influence of Female Director on the Probability of Companies Experiencing Financial Distress. International Journal of Financial and Investment Studies, 1(2), 101-108. https://doi.org/10.9744/ijfis.1.2.101-108

Linawati. (2018). The Influence of Financial Literacy and Family Relationships on the Growth of Micro, Small and Medium Enterprises. Surabaya: Petra Christian University.

Remund, D. L. (2010). Financial literacy explicated: the case for a clearer definition in an increasingly complex economy. The Journal of Consumer Affairs, 44 (2), 276-295

Rudianto. (2013). Information Management Accounting for Strategic Decision Making. Jakarta: Erlangga.

Saputra, J., Astuti, D., & Pertiwi, D. (2021). Effect of Financial Literacy, Risk Attitude and Saving Motives to Disposition Bias on Mutual Funds Investors. International Journal of Financial and Investment Studies, 2(1), 27-33. https://doi.org/10.9744/ijfis.2.1.27-33

Shanthana L.S., & Basana, S. R. (2020). Pengaruh Firm Size terhadap Leverage pada Perusahaan Manufaktur Publik Indonesia Periode 2013-2017. International Journal of Financial and Investment Studies, 1(1), 53-66. https://doi.org/10.9744/ijfis.1.1.53-66.

Shuib, N., Said, J., & Atan, R. (2013). The Influence of Financial Management Practices, Board Effectiveness and Accountability towards Performance: Empirical Test of Non-Profit Organizations. Asia-Pacific Management Accounting Journal, 8(1), 43-63.

Siekei, J., Wagoki, J., & Kalio, A. (2013). An Assessment of the role of Financial Literacy on Performance of Small and Micro Enterprises: Case of Equity Group Foundation Training Program on MSES in Njoro district Kenya. Journal of Economics & Finance, 1(7), 250-336.

Wahono, H. K. & Pertiwi, D. (2020). Pengaruh Financial Literacy, Materialism, Compulsive Buying Ttrhadap Propensity to Indebtedness. International Journal of Financial and Investment Studies, 1(1), 1-14. https://doi.org/10.9744/ijfis.1.1.1-14.

Weterings, A., & Koster, S. (2017). Inheriting Knowledge and Sustaining Relationships: What Stimulates the Innovative Performance of Small Software Firms in the Netherlands?. Research Policy 36, 320-335.

Wise, S. (2013). The Impact of Literasi Keuangan on New Venture Survival. International Journal of Business and Managemen, 8(23), 30-39.

Published
2022-02-24
How to Cite
Heryanto, O. A., & Leng, P. (2022). INFLUENCE OF FINANCIAL LITERACY, MANAGERIAL EXPERIENCE ON FINANCIAL MANAGEMENT PERFORMANCE OF SMES IN SURABAYA. International Journal of Financial and Investment Studies (IJFIS), 2(2), 83-91. https://doi.org/10.9744/ijfis.2.2.83-91
Section
Articles