Cipto Wardoyo

Financial literacy and financial behavior are two primary determinants of financial decision-making among small and medium enterprises (SMEs), and empirical research holds significant promise for entrepreneurship. Therefore, this study investigates these linkages and analyzes the mediating role of investment intention in promoting investment decisions among SMEs in Malang Raya, East Java, Indonesia. The research employed a quantitative methodology using partial least squares structural equation modeling (PLS-SEM) and was grounded in the Theory of Planned Behavior (TPB). A total of 310 halal-certified SME owners in Malang Raya participated in this study. The results reveal that financial literacy can influence investment; however, it does not necessarily promote investment decisions. Additionally, financial behavior showed a negative direct effect on investment decisions, but it contributes positively when mediated by intention. This finding confirms that investment intention can be a strong predictor of decision-making. The contributions of this study are twofold. First, it adds to the existing literature on the role of financial literacy and its components in supporting investment decisions, particularly within the context of entrepreneurship and SMEs. Second, it highlights the limited role of intention alone, suggesting that individual or organizational knowledge can directly influence behavior, and that intention is an integral part of behavior.

This study examines the key factors influencing e-accounting adoption among MSMEs in Malang City, focusing on its role in enhancing operational efficiency and financial transparency. The research explores the impact of six variables—Relative Advantage, Management Support, Competitive Pressure, System Quality, Information Quality, and Service Quality—on adopting e-accounting. Using Partial Least Squares - Structural Equation Modeling (PLS-SEM), the study identifies that Relative Advantage, System Quality, and Service Quality significantly influence adoption. However, their relationships are negatively directed, indicating a gap between user expectations and actual experiences. Conversely, Management Support, Competitive Pressure, and Information Quality do not show significant effects. The study concludes that improving system and service quality, alongside targeted education and training, is crucial for MSMEs to fully benefit from e-accounting. Practical implications suggest strategies for technology providers, policymakers, and MSMEs to optimize e-accounting for better business efficiency and sustainability.

The development of financial technology (fintech) and increased access to financial services, along with changes in consumption patterns, have significantly impacted individual perceptions of financial satisfaction (FS). Challenges to financial satisfaction include economic instability, inflation, and income disparity. This study aims to examine the relationship between financial literacy (FL) and financial risk tolerance (FRT) on financial satisfaction (FS), considering the mediating role of financial behavior (FB). The research was conducted on 383 teachers across five major cities in East Java, Indonesia—Surabaya, Sidoarjo, Gresik, Mojokerto, and Pasuruan—using proportional random sampling. Data collected were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The findings revealed that both financial literacy (FL) and financial risk tolerance (FRT) positively influence teachers' financial satisfaction (FS). Additionally, financial behavior (FB) was found to mediate the relationship between financial literacy (FL) and financial satisfaction (FS), as well as between financial risk tolerance (FRT) and FS. This research is expected to contribute both theoretically and practically by emphasizing the importance for policymakers in the education sector to develop financial well-being programs for teachers and highlighting the need for teachers to prioritize financial components in their personal and professional lives.

Rapid advancements in technology related to the fourth industrial revolution have transformed the way financial transactions are conducted, shifting from conventional cash methods to digital finance, also known as fintech. Despite this shift, the adoption of fintech is inconsistent, especially among students, who are an important group for promoting financial inclusion and literacy. This study aims to fill the existing gap by investigating the specific elements that influence fintech adoption among Economics Education students in Java, using the Theory of Planned Behavior (TPB) as a framework. An explanatory quantitative investigation involving 350 students from three accredited universities shows that attitudes, social factors, and digital financial literacy play an important role in shaping students' intentions to use fintech. Importantly, digital financial literacy stands out as a crucial element, both directly and indirectly encouraging responsible financial practices and the adoption of fintech. The originality of this research lies in its examination of the relationship between education and the use of fintech, emphasizing the importance of digital financial literacy in influencing students' financial actions in an increasingly digital economy.

Objective: The objective of this research is to examine how the human capital and digital capability of SMEs contribute to enhancing firm performance, with a particular focus on exploring the intervening role of innovation to achieve Sustainable Development goals (SDGs). Theoretical Framework: The research utilizes the Resource-Based View (RBV) theory and integrates human capital and internal capabilities (digital capabilities) resources to drive innovation and enhance firm performance within the SMEs context. Method: This research conducted by using a quantitative approach. A sample of 271 SMEs within the creative industry sector was utilized. The survey employed Likert scale. The model was assessed using Smart PLS 3.2.9 software. Results and Discussion: Variables of human capital and digital capability have an impact on innovation. Interestingly, digital capability alone does not directly impact firm’s performance. Instead, the presence of innovation serves as a mediator in the relationship between human capital, digital capability, and firm performance. This discovery indicates that digital capability can enhance firm performance when coupled with innovation initiatives. Research Implications: This study develops a theoretical framework related to firm resources, and SMEs can develop their human capital and digital capabilities to improve innovation and performance. Originality/Value: The theoretical framework of this study significantly influences the evolution of the Resource-Based View (RBV) theory, especially on the influence of human capital resources, and the RBV framework is developed to elucidate the determinants of competitive advantage within the digital transformation landscape.

Introduction: In the rapidly evolving educational landscape, the integration of technology has become a pivotal factor in enhancing teaching and learning processes. Objetive: This study explores the adoption of technology among high school economics teachers in Riau province, focusing on the internal factors of teacher well-being, professional commitment, self-development, and pedagogical competence. Method and results: Using Structural Equation Modeling (SEM) with a quantitative approach, the research reveals that teacher well-being significantly impacts both professional commitment and technology adoption, indicating that a supportive work environment enhances teachers' engagement with new technologies. Professional commitment also emerges as a crucial factor, greatly influencing technology adoption. Implications and limitations: However, while self-development positively affects technology adoption, it does not directly enhance professional commitment. Pedagogical competence strongly impacts professional commitment but does not directly influence technology adoption. These findings highlight the importance of comprehensive support systems and continuous professional development for effective technology integration in education. The study's limitations include a predominantly female sample and a focus on a specific region, suggesting the need for broader studies to generalize the findings. Future research should also consider additional factors such as administrative support and student engagement to provide a more holistic understanding of technology adoption dynamics in education.

This study examines how Islamic financial literacy and Islamic financial access contribute to the performance of Halal MSMEs using knowledge-based theory. Micro, small, and medium-sized halal businesses (MSMEs) have an important role in the economy and the rapid growth of the world halal industry. The success of halal MSMEs depends on a number of factors, including the availability of Islamic funding and the financial literacy of Islamic finance. This study adopted a hierarchical regression model to examine quantitative data from a sample of 209 halal MSMEs' owners and managers in Malang Raya, Indonesia. The findings demonstrate that a high level of Islamic financial literacy can encourage Islamic financial inclusion, while inclusive Islamic financial institutions have a significant impact on MSMEs’ performance. In promoting inclusive Islamic finance, this study contributes by describing how Islamic financial inclusion affects the performance of Halal MSMEs and the level of society's knowledge on Islamic finance. Implications: Once MSMEs have a strong understanding of the Islamic finance principles, they are more likely to use these resources to increase access to Islamic finance; thereby leading to business growth and expansion. For this study, the halal industry within the food and beverage sector is a noteworthy production sector.

The occurrence of fraud can have detrimental effects on the integrity, efficiency, and credibility of public institutions. Therefore, it is crucial to thoroughly examine factors that can help mitigate its impact. This study aims to investigate the role of perceptions about internal control in preventing fraud, with anti-fraud awareness as a moderating variable. The research was conducted in the Probolinggo district of East Java, involving 28 regional government organizations. A representative sample of 150 respondents was collected using cluster sampling. Data was collected through an online questionnaire. The data was analyzed using Structural Equation Modeling-Partial Least Squares Path Modeling (SEM-PLS). The findings of the study indicate a significant positive influence of perceptions about internal control on fraud prevention. However, it was observed that anti-fraud awareness did not enhance the impact of perceptions about internal control on fraud prevention. This research is expected to provide valuable insights for stakeholders involved in fraud prevention, including the regional government organizations in Probolinggo Regency and others.

Halal micro, small and medium enterprises (MSMEs) play an important role in the economy, supporting the rapid development of the world's halal industry. The performance of halal MSMEs is influenced by knowledge management and financial literacy. Based on knowledge-based theory, which focuses on internal factors to explain business strategies, innovation capabilities and risk attitudes can mediate the influence of knowledge management and financial literacy on the performance of halal MSMEs. Data collected using quantitative proximity from a sample of 195 owners of halal MSMEs in Malang Raya, Indonesia, was analyzed using structural equation modeling (SEM). The findings showed that knowledge management and financial literacy affect the performance of MSMEs. The innovation ability and risk attitude of MSME owners mediate the effects of knowledge management and financial literacy on the performance of MSMEs. When knowledge is managed effectively, it creates unique capabilities that contribute to improved performance through innovation, realized through innovative products, and risk attitude, realized through optimized opportunities.