The Mediating Role of Self-Efficacy in Factors Influencing MSME Performance Improvement

Authors

  • Mahfud Nugroho Universitas Selamat Sri
  • Septian Dwi Cahyo Universitas Selamat Sri
  • Sitta Saraya Universitas Selamat Sri
  • Fitria Yuni Astuti Universitas Selamat Sri

DOI:

https://doi.org/10.37385/ijedr.v6i6.6934

Keywords:

Business performance, Digital marketing, Financial Inclusion, Financial literacy, Medium and Small Enterprice, self efficacy

Abstract

After the Covid-19 pandemic ended, MSMEs selling online increased. However, price competition in the digital market is very tight, so MSMEs with small capital cannot compete with large companies that have entered the digital market first. The aim of this research is to analyze the impact of using digital marketing, financial inclusion and financial literacy on business performance which is mediated through self-efficacy. This research tests causality through a quantitative approach. The population in this study was 100 MSMEs in Kendal, Indonesia. The sample in this study was selected based on purposive sampling with certain criteria. The data analysis method uses linear regression analysis which is tested statistically via SmartPLS. The results of this research found that the use of digital marketing can influence or improve business performance. The use of digital marketing can also increase the self-confidence of MSMEs in managing their business (self efficacy). Ease of access to use financial products and services (Financial inclusion) can improve business performance. Then the ease of accessing financial products and services can also increase self-confidence to be successful (self-efficacy) in managing a business. Self-efficacy cannot mediate the influence of digital marketing, financial literacy and financial inclusion on business performance

References

Afandy, C., Kamaludin, Sapuan, & Yuningsih, S. (2023). Unraveling the Link between Financial Literacy and Financial Inclusion: The Mediating Role of Financial Self-Efficacy. Global Conference on Business and Social Sciences Proceeding, 15(1), 24–24. https://doi.org/10.35609/gcbssproceeding.2023.1(24)

Agustina, T., Nurhikmah, N., & ... (2022). The influence of locus of control, self-efficacy, and adversity quotient on business performance. Jurnal ….

Annur, C. M. (2022). Survei BPS: Pelaku Usaha RI yang Berdagang di E-commerce Masih Minim. Databoks.Katadata.Co.Id. https://databoks.katadata.co.id/datapublish/2022/12/19/survei-bps-pelaku-usaha-ri-yang-berdagang-di-e-commerce-masih-minim

Aribawa, D. (2016). PENGARUH LITERASI KEUANGAN TERHADAP KINERJA DAN KEBERLANGSUNGAN UMKM DI JAWA TENGAH. Jurnal Siasat Bisnis, 20(1), 1–13. https://doi.org/https://doi.org/10.20885/jsb.vol20.iss1.art1

Arifin, M. A., Zakaria, M., & Bustaman, H. A. (2023). Digital adoption, self-efficacy, and business success–towards resilience and sustainability micro-entrepreneurs in the post-pandemic world. Cogent Business and Management, 10(3), 1–13. https://doi.org/10.1080/23311975.2023.2260128

Asandimitra, N., & Kautsar, A. (2020). The influence of financial information, financial self efficacy, and emotional intelligence to financial management behavior of female lecturer. Humanities and Social Sciences Reviews, 7(6), 1112–1124. https://doi.org/10.18510/hssr.2019.76160

Bank Indonesia. (2011). Financial Inclusion. Bi.Go.Id. https://www.bi.go.id/en/fungsi-utama/stabilitas-sistem-keuangan/keuangan-inklusif/default.aspx

Boonmalert, W., Ayasanond, C., Phoothong, B., & Chaitorn, T. (2021). A Causal Influence Model of Innovation and Digital Marketing on the Small and Medium Enterprise (SME) Performance in Thailand. European Journal of Molecular & Clinical Medicine, 8(3), 63–72.

Chaffey & PR Smith. (2017). Digital Marketing Excellence Now: Planning, Optimizing and Integrating Online Marketing.

Chin. (1998). The Partial Least Squares Aproach to Structural Equation Modeling. Modern Methods for Business Research.

Chinakidzwa, M. M. P. (2020). Exploring digital marketing resources, capabilities and market performance of small to medium agro-processors. A conceptual model. Journal of Business and Retail Manajement Research, 11(2), 2056–6271.

Christine, Nizwan Zukhri, D. S. (2024). Factors Affecting the Financial Performance of MSMES: Financial Literacy, Financial Inclusion, Financial Self-Efficacy, Financial Technology, Credit Granting, and Intellectual Capital. 8(2), 341–357. https://doi.org/10.36555/almana.v8i2.2602

Dewi, M. U. (2022). Dampak Positif Dan Negatif E-Commerce. Universitas Stekom. https://sistem-informasi-s1.stekom.ac.id/informasi/baca/Dampak-Positif-dan-Negatif-E-Commerce/5e750838cc297c7d7b44fb18f2519343aff4a4e4

Diskominfo/HR. (2021). Kemenko Perekonomian dan Komisi XI DPR RI Optimalkan Penyaluran KUR UMKM. https://www.kendalkab.go.id/berita/id/20211221001/kemenko_perekonomian_dan_komisi_xi_dpr_ri_optimalkan_penyaluran_kur_umkm

Diskominfo/HR. (2022, July 5). Tingkatkan SDM, Disdakop UKM Kendal Adakan Pelatihan Digitalisasi UMKM. Https://Www.Kendalkab.Go.Id/Berita/Id/20220705001/Tingkatkan_sdm_disdakop_ukm_kendal_adakan_pelatihan_digitalisasi_umkm.

Dodiet Aditya Setyawan I. (2021). HIPOTESIS dan VARIABEL PENELITIAN.

Eresia-Eke, C. E., & Raath, C. (2013). SMME Owners’ financial literacy and business growth. Mediterranean Journal of Social Sciences, 4(13), 397–406. https://doi.org/10.5901/mjss.2013.v4n13p397

Fadilah, I., Rahman, S., & Anwar, M. (2022). Analisis pengaruh Literasi Keuangan, Inklusi Keuangan, dan Financial Technology terhadap kinerja Usaha Mikro Kecil Menengah (UMKM) di Kota Bandung. Fair Value: Jurnal Ilmiah Akuntansi Dan Keuangan, 5(3), 1347–1354. https://doi.org/10.32670/fairvalue.v5i3.2419

Ferdinand. (2013). Metode Penelitian Manajemen. Badan Penerbit Universitas Diponegoro.

Finaka, A. W. (2023). e-Commerce Semakin Eksis! Jumlahnya Capai 2,9 juta. Indonesiabaik.Id. https://indonesiabaik.id/infografis/e-commerce-semakin-eksis-jumlahnya-capai-29-juta

Fitria, I. (2024). Pengaruh Literasi Keuangan, Sikap Keuangan dan Perilaku Keuangan Terhadap Kinerja UMKM Di Kota Palembang. Konsumen & Konsumsi?: Jurnal Manajemen, 3(1), 545–567. https://doi.org/10.32524/kkjm.v3i1.1116

Fr?czkiewicz-Wronka, A., & Szymaniec, K. (2012). Resource based view and resource dependence theory in decision making process of public organisation - research findings. Versita, 16(2), 16–29. https://doi.org/10.2478/v10286-012-0052-2

Garson, D, G. (2016). Partial least squares. Regression and structural equation models. Statistical Publishing Associates.

Garson, G. . (2016). Partial Least Squares Regression & Structural Equational Models. Statistical Publishing Associates.

Hamzah, E., Syeikh, S., & Halim, H. A. (2024). Islamic Financial Literacy , Islamic Financial Inclusion and Micro-Business Performance Educación Financiera Islámica , Inclusión Financiera Islámica y Desempeño de las Microempresas Islamic Financial Literacy , Islamic Financial Inclusion and Micro-Busin. January. https://doi.org/10.21919/remef.v19i1.967

Hannig, A., & Jansen, S. (2010). Financial inclusion and financial stability: Current policy issues. In ABDI Working Paper (Issue 259). https://doi.org/10.2139/ssrn.1729122

Iwedi, Marshal, lheanacho princewill W., & Amadi, J. C. (2024). Digital Financial Inclusion and Poverty Alleviation in Nigeria. Journal of Financial Technology and Business Innovation, 2024(1), 13–32.

Kasendah, Baby Stephani, C. W. (2019). Pengaruh Literasi Keuangan Terhadap Kinerja Umkm Di Indonesia. Almana?: Jurnal Manajemen Dan Bisnis, 3(1), 153–160. https://doi.org/10.24903/je.v10i1.1217

Khoa, B. T. (2023). The role of self-efficacy and firm size in the online advertising services continuous adoption intention: Theory of planned behavior approach. Journal of Open Innovation: Technology, Market,and Complexity, 9(June). https://doi.org/https://doi.org/10.1016/j.joitmc.2023.100025

Kimathi, D. K., Mukulu, E., & Odhiambo, R. (2019). Effect of Digital Marketing on the Performance of MSMES in Kenya. Journal of Marketing and Communication, 2(1), 1–23.

Mahoney, Y. Y. K. and J. T. (2004). Edith Penrose’s (1959) Contributions to the Resource-based View of Strategic Management. Journal Of Management Studies, 41(1), 183–191. https://doi.org/https://doi.org/10.1111/j.1467-6486.2004.00427.x

Marcolin, S., & Abraham, A. (2006). Financial literacy research: current literature and future opportunities. Proceedings of the 3rd International Conference on Contemporary Business, Australia, September, 21–22.

Marjukah, A. (2022). Pengaruh Pelatihan Pemasaran Digital Terhadap Kinerja Umkm Pada Masa Pandemi Covid-19. Jurnal Keuangan Dan Bisnis, 20(1), 1–12. https://doi.org/https://doi.org/10.32524/jkb.v20i1.316

Msimango-Galawe, J. . M. N. (2021). Entrepreneurial self efficacy and performance of women-owned SMEs Entrepreneurial self efficacy and performance of women-owned SMEs. African Review of Economics and Finance, 13(1), 239–263.

Msimango Galawe, J., & Mazonde, N. (2024). The mediating effect of entrepreneurial self-efficacy on business experience and performance of women-owned enterprises. Problems and Perspectives in Management, 22(2), 213–225. https://doi.org/10.21511/ppm.22(2).2024.17

Mustajab, R. (2023). Pengguna E-Commerce RI Diproyeksi Capai 196,47 Juta pada 2023. DataIndonesia.Id. https://dataindonesia.id/ekonomi-digital/detail/pengguna-ecommerce-ri-diproyeksi-capai-19647-juta-pada-2023

Njau, J. N., & Karugu, W. (2014). Influence of E-Marketing on the Performance of Small and Medium Enterprises in Kenya?: Survey of Small and Medium Enterprises in the Manufacturing Industry in Kenya. International Journal of Business & Law Research, 2(1), 62–70.

Omoruyi, A. (2022). Financial inclusion , microfinance bank ’ s loans and poverty alleviation in Nigeria. February.

Permata Sari, B., Rimbano, D., Marselino, B., Aprilia Sandy, C., & Ria Hairum, R. (2022). Determinasi Literasi Keuangan dan Inklusi Keuangan Terhadap Kinerja dan Keberlangsungan Usaha UMKM. Owner Riset Dan Jurnal, 6(3), 2865–2874. https://doi.org/10.33395/owner.v6i3.928

Pradiani, T. (2017). PENGARUH SISTEM PEMASARAN DIGITAL MARKETINGTERHADAP PENINGKATAN VOLUME PENJUALAN HASIL INDUSTRI RUMAHAN. Jibeka, 11(2), 46–53. https://doi.org/https://doi.org/10.32812/jibeka.v11i2.45

Pradinaningsih, N. A., & Wafiroh, N. L. (2022). Pengaruh Literasi Keuangan, Sikap Keuangan dan Self-Efficacy terhadap Pengelolaan Keuangan Ibu Rumah Tangga. E-Jurnal Akuntansi, 32(6), 1518. https://doi.org/10.24843/eja.2022.v32.i06.p10

Pratidnia, D. N. (2021). Digitalisasi UMKM Kendal Bidik Pasar Global. Obyektif.Id. https://obyektif.id/2021/06/03/digitalisasi-umkm-kendal-bidik-pasar-global/admin/2926/milenial/

Putri, R. E., Goso, G., Hamid, R. S., & Ukkas, I. (2022). Pengaruh Literasi Keuangan, Financial Technology dan Inklusi Keuangan terhadap Kinerja Keuangan Pengusaha Muda. Owner?: Riset Dan Akuntansi, 6(2), 1664–1676. https://doi.org/10.33395/owner.v6i2.790

Roscoe, J. (1975). Fundamental research statistics for the behavioral sciences. Holt, Rinehart and Winston.

Ryan Elfahmi, Ikin Solikin, N. (2020). Green Human Resource Management, Customer Environmental Collaboration and the Enablers of Green Employee Empowerment: Enhanching an Environmental Performance. Dinasty Internasional Journal Of Economic, Finance and Accounting, 1(2), 358–372. https://doi.org/10.38035/DIJEFA

Sardar, T., Jianqiu, Z., Bilal, M., & Syed, N. (2021). Impact of ICT on entrepreneurial self-efficacy in emerging economy: Sustaining lock-down during COVID-19 pandemic. Human Systems Management, 40(2), 299–314. https://doi.org/10.3233/HSM-201066

Schindler. (2019). Business Research Methods. Thirteenth. McGrawHill/Irwin.

Sekaran U, B. R. (2011). Research Methods for Business: A Skill-Building Approach (6th Editio).

Septiani, R. N., & Wuryani, E. (2020). Pengaruh Literasi Keuangan Dan Inklusi Keuangan Terhadap Kinerja Umkm Di Sidoarjo. E-Jurnal Manajemen Universitas Udayana, 9(8), 3214. https://doi.org/10.24843/ejmunud.2020.v09.i08.p16

Sugiyono. (2022). Metode Penelitian Kuantitatif, Kualitatif dan R&D (2nd ed.). Alfabeta.

Syukri, A. U., & Sunrawali, A. N. (2022). Digital marketing dalam pengembangan usaha mikro, kecil, dan menengah. Kinerja?: Jurnal Ekonomi Dan Manajemen, 19(1), 170–182. https://doi.org/10.30872/jkin.v19i1.10207

Szymaniec-Mlicka, K. (2014). Resource-based view in strategic management of public organizations – a review of the literature. DE GRUYTER, 18(2), 19–30. https://doi.org/https://doi.org/10.2478/manment-2014-0039

Terzi, N. (2015). Financial Inclusion and Turkey. Academic Journal of Interdisciplinary Studies, 4(1), 269–276. https://doi.org/10.5901/ajis.2015.v4n1s2p269

Yakob, S., Yakob, R., B.A.M., H.-S., & Rusli, R. Z. A. (2021). Financial Literacy and Financial Performance of Small and Medium-sized Enterprises. The South East Asian Journal of Management, 15(1), 72–96. https://doi.org/10.21002/seam.v15i1.13117

Downloads

Published

2025-10-01

How to Cite

Nugroho, M., Cahyo, S. D., Saraya, S., & Astuti, F. Y. (2025). The Mediating Role of Self-Efficacy in Factors Influencing MSME Performance Improvement. International Journal of Economics Development Research (IJEDR), 6(6), 3147–3167. https://doi.org/10.37385/ijedr.v6i6.6934