Original research

THE INTERACTION OF FINANCIAL RISK ATTITUDE ON FINANCIAL LITERACY, FINANCIAL BEHAVIOR, AND FINANCIAL INCLUSION ON THE PERFORMANCE OF MSMES IN JEMBER REGENCY, INDONESIA

Pages 199-208

10.61552/JIBI.2025.03.007

Rumhatun Ulfa, Novi Puspitasari, Hadi Paramu

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Abstract: Previous research shows inconsistent results on the effect of financial literacy and financial inclusion on the performance of MSMEs with financial risk attitude as a moderating variable. The study aims to analyze the effect of financial literacy, financial behavior, and financial inclusion on the performance of MSMEs and the role of financial risk attitude as a moderating variable in the effect of financial literacy, financial behavior, and financial inclusion on the performance of MSMEs. The population in the study were MSME owners in the Jember Regency. Using the snowball sampling method, 125 business owners in Jember Regency were obtained as respondents. This research uses Moderated Regression Analysis. The results showed that (a) financial literacy, financial behavior, and financial inclusion affect the performance of MSMEs, (b) financial risk attitude does not moderate the relationship between the effect of financial literacy on MSME performance, (c) financial risk attitude does not moderate the relationship between the effect of financial behavior and financial inclusion on MSME performance, and (d) financial risk attitude affects MSME performance.

Keywords: Financial literacy, financial behavior, financial inclusion, financial risk attitude, performance of MSMEs.

Recieved: 11.02.2024. Revised: 09.04.2024. Accepted: 12.06.2024.