Financial Inclusion, Human Resource Competency, and E-Commerce Adoption on MSME Financial Performance Evidence from Muslim MSMEs in Jepara Regency

FARIDHATUN FAIDAH; Diah Ayu Susanti; Ahmad Nilnal Munachifdlil'Ula; Indah Puspita Maharani; Widi Savitri Andriasari

doi:10.55681/economina.v5i5.2208

Authors

FARIDHATUN FAIDAH Universitas Muria Kudus
Diah Ayu Susanti Universitas Muria Kudus, Indonesia
Ahmad Nilnal Munachifdlil'Ula Universitas Muria Kudus, Indonesia
Indah Puspita Maharani Universitas Muria Kudus, Indonesia
Widi Savitri Andriasari Institut Agama Islam Negeri Kudus, Indonesia

DOI:

https://doi.org/10.55681/economina.v5i5.2208

Keywords:

Financial inclusion, Human resource competence, E-commerce adoption, Financial performance, Muslim MSMEs

Abstract

Micro, Small, and Medium Enterprises (MSMEs) play a vital role in economic growth, job creation, and income distribution. However, their increasing number is not always matched by improved financial performance. This study examines the effects of financial inclusion, human resource competency, and e-commerce adoption on the financial performance of Muslim MSMEs in Jepara, Indonesia. Using a quantitative approach with 140 respondents and multiple linear regression analysis, the results show that all variables have a positive and significant impact. Collectively, they explain a substantial variation in performance. The findings highlight the importance of financial access, skill enhancement, and digital adoption in strengthening MSME competitiveness and sustainability.

Downloads

Download data is not yet available.

References

Akhmad, D., Annisa, S., Fatmah, B., & Rahmawati, D. V. (2021). Pengaruh faktor demografi, locus of control, literasi keuangan, dan inklusi keuangan terhadap kinerja keuangan UMKM (studi pada pelaku UMKM di wilayah Kota Banjar Patroman). Jurnal Ilmiah Akuntansi dan Keuangan, 10(2), 170–180. https://journal.stieputrabangsa.ac.id/index.php/jiak/article/view/878

Allen, F., Demirgüç-Kunt, A., Klapper, L., & Martinez Peria, M. S. (2012). The foundations of financial inclusion: Understanding ownership and use of formal accounts (World Bank Policy Research Working Paper No. 6290).

Ayyagari, M., Demirgüç-Kunt, A., & Maksimovic, V. (2010). Formal versus informal finance: Evidence from China. Review of Financial Studies, 23(8), 3048–3097.

Ayyagari, M., Demirgüç-Kunt, A., & Maksimovic, V. (2011). Small vs. young firms across the world: Contribution to employment, job creation, and growth (World Bank Policy Research Working Paper No. 5631).

Banerjee, A. V., Duflo, E., Glennerster, R., & Kinnan, C. (2015). The miracle of microfinance? Evidence from a randomized evaluation. American Economic Journal: Applied Economics, 7(1), 22–53.

Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99–120.

Beck, T., Demirgüç-Kunt, A., & Maksimovic, V. (2005). Financial and legal constraints to growth: Does firm size matter? Journal of Finance, 60(1), 137–177.

Beck, T., & Demirgüç-Kunt, A. (2006). Small and medium-size enterprises: Access to finance as a growth constraint. Journal of Banking & Finance, 30(11), 2931–2943.

Beck, T., Demirgüç-Kunt, A., & Maksimovic, V. (2008). Financing patterns around the world: Are small firms different? Journal of Financial Economics, 89(3), 467–487.

Bos-Nehles, A. C., & Meijerink, J. G. (2018). HRM implementation by multiple HRM actors: A social exchange perspective. International Journal of Human Resource Management, 29(22), 3068–3092.

Bruhn, M., & Love, I. (2014). The real impact of improved access to finance: Evidence from Mexico. Journal of Finance, 69(3), 1347–1380.

Brynjolfsson, E., & McAfee, A. (2014). The second machine age: Work, progress, and prosperity in a time of brilliant technologies. W. W. Norton & Company.

Cahyani, A. A., Mallongi, S., & Mahmud, A. (2021). Pengaruh orientasi kewirausahaan, inovasi produk, dan keunggulan bersaing terhadap kinerja pemasaran usaha nasi kuning di Kota Makassar. Paradoks: Jurnal Ilmu Ekonomi, 4(1), 219–232. https://doi.org/10.33096/paradoks.v4i1.768

Cull, R., Demirgüç-Kunt, A., & Morduch, J. (2014). Banks and microbanks. Journal of Financial Services Research, 46(1), 1–53.

Darmawan. (2013). Metode penelitian kuantitatif. Remaja Rosdakarya.

Delery, J. E., & Roumpi, D. (2017). Strategic human resource management, human capital and competitive advantage: Is the field going in circles? Human Resource Management Journal, 27(1), 1–21.

Demirgüç-Kunt, A., Klapper, L. F., Singer, D., & Van Oudheusden, P. (2015). The Global Findex Database 2014: Measuring financial inclusion around the world (World Bank Policy Research Working Paper No. 7255).

Habibi, M. A., Maskudi, M., & Mahanani, S. (2022). Pengaruh pengelolaan keuangan, inklusi keuangan, dan kompetensi SDM terhadap kinerja UMKM di era pandemi COVID-19. Journal of Accounting and Finance, 1(1), 1–9. https://doi.org/10.31942/jafin.v1i1.6878

Honohan, P., & King, M. (2012). Cause and effect of financial access: Cross-country evidence from the FinScope surveys (World Bank Policy Research Working Paper No. 6026).

Huselid, M. A. (1995). The impact of human resource management practices on turnover, productivity, and corporate financial performance. Academy of Management Journal, 38(3), 635–672.

Intan, M., Claudia, D., Simanjutak, Y., Nelsari, Y., & Sholihat, W. (2021). The effect of digital marketing and e-commerce on financial performance and business sustainability of MSMEs during the COVID-19 pandemic in Indonesia. International Journal of Data and Network Science, 5, 275–282.

Kartika, Dhara & Musmini, L. S. (2022). Pengaruh Literasi Keuangan, Kompetensi Sumber Daya Manusia Dan Minat Menggunakan E-commerce Terhadap Kinerja Keuangan UMKM Pada Masa Pandemi …. JIMAT (Jurnal Ilmiah Mahasiswa Akuntansi), 1–11. https://ejournal.undiksha.ac.id/index.php/S1ak/article/view/35273%0Ahttps://ejournal.undiksha.ac.id/index.php/S1ak/article/download/35273/21390.

Kasendah, B. S., & Wijayangka, C. (2019). Pengaruh literasi keuangan terhadap kinerja UMKM. Almana: Jurnal Manajemen dan Bisnis, 3(1), 153–160.

Khaira, M., & Jalalluddin. (2021). Pengaruh sistem penjualan e-commerce bagi kinerja keuangan usaha mikro kecil menengah (UMKM) di Kota Banda Aceh. Jurnal Ilmiah Mahasiswa Ekonomi Islam, 3(1), 93–103.

Kumar, A. (2013). Understanding the role of financial inclusion in ensuring credit for MSMEs. Journal of Finance and Economics, 1(2), 45–56.

Kusuma, M., Narulitasari, D., & Nurohman, Y. A. (2022). Inklusi keuangan dan literasi keuangan terhadap kinerja dan keberlanjutan UMKM di Solo Raya. Among Makarti, 14(2), 62–76. https://doi.org/10.52353/ama.v14i2.210

Lumpkin, G. T., & Dess, G. G. (1996). Clarifying the entrepreneurial orientation construct and linking it to performance. Academy of Management Review, 21(1), 135–172.

Maulatuzulfa, H., & Rokhmania, N. (2022). Pengaruh kompetensi sumber daya manusia, literasi keuangan, modal keuangan, dan modal sosial terhadap kinerja UMKM. Jurnal Ekonomi, 11(1), 171–179.

Muhamad Lutfi Ramdhani, M., Nurleli, N., & Anandya, A. (2022). Pengaruh literasi keuangan dan penerapan e-commerce terhadap kinerja UMKM. Jurnal Riset Akuntansi, 2(2), 115–122. https://doi.org/10.29313/jra.v2i2.1331

Ngehnevu, M. M., & Nembo, J. E. (2010). The impact of microfinance institutions on the performance of small and medium enterprises in Cameroon. International Journal of Business and Social Science, 1(1), 123–130.

Nuvriasari, A., Wicaksono, G., & Sumiyarsih, S. (2017). Peran orientasi pasar, orientasi kewirausahaan, dan strategi bersaing terhadap peningkatan kinerja UKM. EKUITAS (Jurnal Ekonomi dan Keuangan), 19(2), 241–257. https://doi.org/10.24034/j25485024.y2015.v19.i2.1766

Prasetyo, E., & Farida, F. (2022). Pengaruh e-commerce, pengetahuan akuntansi, budaya organisasi, dan literasi keuangan terhadap kinerja UMKM. National Multidisciplinary Sciences, 1(3), 370–383. https://doi.org/10.32528/nms.v1i3.102

Purwanti, H., & Yuliati, A. (2022). Pengaruh Akuntabilitas, Transparansi Dan Kompetensi Sumber Daya Manusia Terhadap Kinerja Keuangan Umkm Di Kabupaten Kediri. 6(3), 207–224.

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 Jurnal Akuntansi, 6(2), 1664–1676. https://doi.org/10.33395/owner.v6i2.790

Rosyadah, K., Mus, A. R., Semmaila, B., & Chalid, L. (2022). Open Access The Relevance of Working Capital , Financial Literacy and Financial Inclusion on Financial Performance and Sustainability of Micro, Small and Medium- Sized Enterprises ( MSMEs ). 4, 203–216.

Ruscitasari, Z., Kamal, T., & Pratiwi, N. (2021). Analisis Adopsi E-Commerce Terhadap Kinerja Umkm Desa Pleret. Indonesian Journal of Business Intelligence (IJUBI), 4(2), 63. https://doi.org/10.21927/ijubi.v4i2.1949.

Saridakis, G., Muñoz Torres, R. I., & Johnstone, S. (2020). Do human resource practices enhance organizational commitment in SMEs with low employee satisfaction? British Journal of Management, 31(2), 437–454.

Suliyanto. (2011). Ekonometrika terapan: Teori dan aplikasi dengan SPSS. Andi.

Whella Hertadiani, V., & Lestari, D. (2021). Pengaruh inklusi keuangan dan pengelolaan keuangan terhadap kinerja UMKM sektor kuliner di Jakarta Timur. Kalbisocio: Jurnal Bisnis dan Komunikasi, 8(2), 19–31. https://doi.org/10.53008/kalbisocio.v8i2.173

Wulandari, D. N. A., & Paramita, R. S. (2023). Pengaruh literasi keuangan, inklusi keuangan, dan e-commerce terhadap kinerja keuangan UMKM coffee shop di Kabupaten Jember. Jurnal Ilmiah Wahana Pendidikan, 9, 199–210.