Measuring The Contribution Of Financial Literacy In Building The Competitive Advantage Of MSMEs In Indonesia : Systematic Literature Review (SLR)
Keywords:
MSMEs, Financial Literacy, Competitive Advantage.
Abstract
A country's economic growth cannot be separated from the role of Micro, Small and Medium Enterprises (MSMEs) as the backbone of a strong economy. MSMEs experience various problems, including limited access to resources, inadequate infrastructure, and the inability to compete on a larger scale. These factors become obstacles for MSMEs to optimize their potential and compete in an increasingly complex market . It is important for MSME players to improve their product advantages or marketing strategies, because MSMEs are one of the important business sectors in Indonesia. There are not many studies that systematically measure the contribution of financial literacy in building the competitive advantage of MSMEs, especially in the Indonesian context. This research tries to open a new space by using the Systematic Literature Review (SLR) method to detail the understanding of the concept of financial literacy and its implications for the competitive advantage of MSMEs in Indonesia. The importance of this research lies in the urgency to provide a more comprehensive view of how financial literacy can make a concrete contribution in establishing and maintaining the competitive advantage of MSMEs. Results of this research state that Financial literacy has a significant role in helping MSMEs face financial challenges and compete in a dynamic market. It is hoped that the results of this research can provide practical and policy implications for stakeholders, government and business people in increasing the financial literacy of MSMEs, so as to create an environment that supports the growth and competitiveness of MSMEs in Indonesia.
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Andarsari, PR, & Ningtyas, MN (2019). The Role of Financial Literacy on Financial Behavior. Jabe (Journal of Accounting and Business Education) , 4 (1), 24. https://doi.org/10.26675/jabe.v4i1.8524
Andriani, C., & Sukaris, S. (2022). The Effect of Financial Knowledge, Financial Attitude, and Personality on Financial Management Behavior in ASN Diskoperindag Gresik Regency. Innovation Research Journal , 3 (2), 87. https://doi.org/10.30587/innovation.v3i2.4424
Antonizzi, J., & Smuts, H. (2020). The Characteristics of Digital Entrepreneurship and Digital Transformation: A Systematic Literature Review. In Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics): Vol. 12066 LNCS . Springer International Publishing. https://doi.org/10.1007/978-3-030-44999-5_20
Anwar, M. (2018). Business model innovation and SMEs performance-Does competitive advantage mediate? International Journal of Innovation Management , 22 (7), 1–31. https://doi.org/10.1142/S1363919618500573
Ardila, I., Febriaty, H., & Astuti, R. (2021). Factors that Influence the Financial Literacy on Micro Small and Medium Enterprises. Journal of International Conference Proceedings , 4 (2), 144–149. https://doi.org/10.32535/jicp.v4i2.1234
Arsawan, IWE, Koval, V., Rajiani, I., Rustiarini, NW, Supartha, WG, & Suryantini, NPS (2022). Leveraging knowledge sharing and innovation culture into SMEs sustainable competitive advantage. International Journal of Productivity and Performance Management , 71 (2), 405–428. https://doi.org/10.1108/IJPPM-04-2020-0192
Barney, J. B. (2001). Resource-based theories of competitive advantage: A ten-year retrospective on the resource-based view. Journal of Management , 27 (6), 643–650. https://doi.org/10.1016/S0149-2063(01)00115-5
Bhatti, S.H., Ahmed, A., Ferraris, A., Hirwani Wan Hussain, WM, & Wamba, S.F. (2022). Big data analytics capabilities and MSME innovation and performance: A double mediation model of digital platform and network capabilities. Annals of Operations Research . https://doi.org/10.1007/s10479-022-05002-w
Dwijayanti, N., Iqbal, M., & Zulfikar, M. (2022). The Role of Islamic Fintech P2PL in Increasing Inclusion and Financial Literacy of MSMEs. Journal of Islamic Finance , 11 (1), 94–101.
Elango, B. (2019). A Bibliometric Analysis of Franchising Research (1988–2017). Journal of Entrepreneurship , 28 (2), 223–249. https://doi.org/10.1177/0971355719851897
Garg, N., & Singh, S. (2018). Financial literacy among youth. International Journal of Social Economics , 45 (1), 173–186. https://doi.org/10.1108/IJSE-11-2016-0303
Goyal, K., & Kumar, S. (2021). Financial literacy: A systematic review and bibliometric analysis. International Journal of Consumer Studies , 45 (1), 80–105. https://doi.org/10.1111/ijcs.12605
Hamad, H., Elbeltagi, I., & El-Gohary, H. (2018). An empirical investigation of business-to-business e-commerce adoption and its impact on SMEs competitive advantage: The case of Egyptian manufacturing SMEs. Strategic Change , 27 (3), 209–229. https://doi.org/10.1002/jsc.2196
Hanggraeni, D., Šlusarczyk, B., Sulung, LAK, & Subroto, A. (2019). The impact of internal, external and enterprise risk management on the performance of micro, small and medium enterprises. Sustainability (Switzerland) , 11 (7). https://doi.org/10.3390/su10022172
Hasan, M., Le, T., & Hoque, A. (2021). How does financial literacy impact on inclusive finance? Financial Innovation , 7 (1). https://doi.org/10.1186/s40854-021-00259-9
Haseeb, M., Hussain, H.I., Kot, S., Androniceanu, A., & Jermsittiparsert, K. (2019). Role of social and technological challenges in achieving a sustainable competitive advantage and sustainable business performance. Sustainability (Switzerland) , 11 (14). https://doi.org/10.3390/su11143811
Husti, I., & Mahyarni, M. (2019). Islamic Leadership, Innovation, Competitive Advantages, and Performance of SMEs in Indonesia. East Asia , 36 (4), 369–383. https://doi.org/10.1007/s12140-019-09325-7
Irman, M., Budiyanto, B., & Suwitho, S. (2021). Increasing Financial Inclusion Through Financial Literacy And Financial Technology On MSMEs. International Journal of Economics Development Research (IJEDR) , 2 (2), 126–141. https://doi.org/10.37385/ijedr.v2i2.273
Jenita, J., Yuwono, A., Heriana, T., … SD-… R. and C., & 2022, U. (2022). The importance of Digital-based Payment Management Knowledge for MSME Drivers: a Study of Financial Literacy. Budapest International Research and Critics Institute-Journal (BIRCI-Journal) , 5 (2), 9073–9084. https://www.bircu-journal.com/index.php/birci/article/view/4694
Karakurum-Ozdemir, K., Kokkizil, M., & Uysal, G. (2019). Financial Literacy in Developing Countries. Social Indicators Research , 143 (1), 325–353. https://doi.org/10.1007/s11205-018-1952-x
Kitsios, F., & Kamariotou, M. (2021). Artificial intelligence and business strategy towards digital transformation: A research agenda. Sustainability (Switzerland) , 13 (4), 1–16. https://doi.org/10.3390/su13042025
Kiyabo, K., & Isaga, N. (2019). Strategic entrepreneurship, competitive advantage, and SMEs' performance in the welding industry in Tanzania. Journal of Global Entrepreneurship Research , 9 (1). https://doi.org/10.1186/s40497-019-0188-9
Kiyabo, K., & Isaga, N. (2020). Entrepreneurial orientation, competitive advantage, and SMEs' performance: application of firm growth and personal wealth measures. Journal of Innovation and Entrepreneurship , 9 (1). https://doi.org/10.1186/s13731-020-00123-7
Kosová, R., & Sertsiosb, G. (2018). An empirical analysis of self-enforcement mechanisms: Evidence from hotel franchising. Management Science , 64 (1), 43–63. https://doi.org/10.1287/mnsc.2016.2563
Latifah, L., Setiawan, D., Aryani, YA, & Rahmawati, R. (2021). Business strategy – MSMEs' performance relationship: innovation and accounting information systems as mediators. Journal of Small Business and Enterprise Development , 28 (1), 1–21. https://doi.org/10.1108/JSBED-04-2019-0116
Lestari, MD, Kantun, S., Hartanto, W., Suharso, P., & Widodo, J. (2020). Analysis of the financial literacy level of Micro, Small and Medium Enterprises (MSMEs) in Jember, East Java, Indonesia. IOP Conference Series: Earth and Environmental Science , 485 (1). https://doi.org/10.1088/1755-1315/485/1/012128
Lestari, SD, Leon, FM, Widyastuti, S., Brabo, NA, & Putra, AHPK (2020). Antecedents and consequences of innovation and business strategy on performance and competitive advantage of SMEs. Journal of Asian Finance, Economics and Business , 7 (6), 365–378. https://doi.org/10.13106/JAFEB.2020.VOL7.NO6.365
Li, F., Lu, H., Hou, M., Cui, K., & Darbandi, M. (2021). Customer satisfaction with bank services: The role of cloud services, security, e-learning and service quality. Technology in Society , 64 (July 2020), 101487. https://doi.org/10.1016/j.techsoc.2020.101487
Liguori, E., & Winkler, C. (2020). From Offline to Online: Challenges and Opportunities for Entrepreneurship Education Following the COVID-19 Pandemic. Entrepreneurship Education and Pedagogy , 3 (4), 346–351. https://doi.org/10.1177/2515127420916738
Liu, H.M., & Yang, H.F. (2019). Managing Network Resources and Organizational Capabilities to Create Competitive Advantage for SMEs in a Volatile Environment. Journal of Small Business Management , 57 (S2), 155–171. https://doi.org/10.1111/jsbm.12449
Liu, H.M., & Yang, H.F. (2020). Network resource meets organizational agility: Creating an idiosyncratic competitive advantage for SMEs. Management Decision , 58 (1), 58–75. https://doi.org/10.1108/MD-10-2017-1061
Nisa, C., & Pramesti, DA (2020). How Do Effective Digital Marketing and Brand Ambassadors Stimulate Purchase Intention Today? 436 , 365–367. https://doi.org/10.2991/assehr.k.200529.075
Nuryakin. (2018). Competitive advantage and product innovation: Key success of Batik SMEs marketing performance in Indonesia. Academy of Strategic Management Journal , 17 (2), 6104.
Ogheneogaga Irikefe, P., & Isaac Opusunju, M. (2021). Effect of Financial Literacy on the Growth of MSMEs. International Journal of Research Publications , 90 (1). https://doi.org/10.47119/ijrp1009011220212541
Purbasari, R., Muhyi, HA, & Sukoco, I. (2020). Actors and Their Roles in Entrepreneurial Ecosystem: A Network Theory Perspective: Cooperative Study in Sukabumi, West Java. Review of Integrative Business and Economics Research , 9 (3), 240–254.
Puspaningrum, A. (2020). Market Orientation, Competitive Advantage and Marketing Performance of Small Medium Enterprises (SMEs). Journal of Economics, Business, & Accountancy Ventures , 23 (1), 19. https://doi.org/10.14414/jebav.v23i1.1847
Quaye, D., & Mensah, I. (2019). Marketing innovation and sustainable competitive advantage of manufacturing SMEs in Ghana. Management Decision , 57 (7), 1535–1553. https://doi.org/10.1108/MD-08-2017-0784
Official, S., Pahlevi, R.W., & Sayekti, F. (2019). Is There a Pattern of Relationships between Financial Literacy, Tax Literacy, Business Growth, and Competitive Advantage on Creative MSMEs in Yogyakarta. Journal of Advanced Management Science , 7 (4), 136–141. https://doi.org/10.18178/joams.7.4.136-141
Saifurrahman, A., & Kassim, S. (2021). Islamic Financial Literacy for Indonesian MSMEs during COVID-19 Pandemic: Issues and Importance. Journal of Islamic Finance , 10 (1), 45–60.
Samsir, S. (2018). The effect of leadership orientation on innovation and its relationship with competitive advantages of small and medium enterprises in Indonesia. International Journal of Law and Management , 60 (2), 530–542. https://doi.org/10.1108/IJLMA-01-2017-0005
Songling, Y., Ishtiaq, M., & Anwar, M. (2018). Enterprise Risk Management Practices and Firm Performance, the Mediating Role of Competitive Advantage and the Moderating Role of Financial Literacy. Journal of Risk and Financial Management , 11 (3), 35. https://doi.org/10.3390/jrfm11030035
Stucki, T. (2019). What hampers green product innovation: the effect of experience. Industry and Innovation , 26 (10), 1242–1270. https://doi.org/10.1080/13662716.2019.1611417
Sun, K. A., & Lee, S. (2019). Competitive advantages of franchising firms and the moderating role of organizational characteristics: Evidence from the restaurant industry. International Journal of Hospitality Management , 77 (June), 281–289. https://doi.org/10.1016/j.ijhm.2018.07.007
Tukamuhabwa, B., Mutebi, H., & Kyomuhendo, R. (2021). Competitive advantage in SMEs: effect of supply chain management practices, logistics capabilities and logistics integration in a developing country. Journal of Business and Socio- Economic Development . https://doi.org/10.1108/jbsed-04-2021-0051
Udriyah, Tham, J., & Ferdous Azam, SM (2019). The effects of market orientation and innovation on competitive advantage and business performance of textile smes. Management Science Letters , 9 (9), 1419–1428. https://doi.org/10.5267/j.msl.2019.5.009
Utami, ES, Aprilia, MR, & Putra, ICA (2021). Financial Literacy of Micro, Small, and Medium Enterprises of Consumption Sector in Probolinggo City. Journal of Management and Entrepreneurship , 23 (1), 10–17. https://doi.org/10.9744/jmk.23.1.10-17
Vătămănescu, E.M., Gorgos, E.A., Ghigiu, A.M., & Pătruţ, M. (2019). Bridging intellectual capital and SMEs internationalization through the lens of sustainable competitive advantage: A systematic literature review. Sustainability (Switzerland) , 11 (9). https://doi.org/10.3390/su11092510
Yun, M. (2022). The impact of technological capability on MSME innovation: a case study of Vietnam. Asian Journal of Technological Innovation , 30 (3), 491–518. https://doi.org/10.1080/19761597.2021.1890163
Zaky, M., & Zainuddin Hamidi, D. (2022). The Role of Financial Technology in Improving Financial Literacy for MSME Actors. KnE Social Sciences , 2022 , 257–266. https://doi.org/10.18502/kss.v7i14.11974
Al Badi, K.S. (2018). The Impact of Marketing Mix on the Competitive Advantage of the SME Sector in the Al Buraimi Governorate in Oman. SAGE Open , 8 (3). https://doi.org/10.1177/2158244018800838
Andarsari, PR, & Ningtyas, MN (2019). The Role of Financial Literacy on Financial Behavior. Jabe (Journal of Accounting and Business Education) , 4 (1), 24. https://doi.org/10.26675/jabe.v4i1.8524
Andriani, C., & Sukaris, S. (2022). The Effect of Financial Knowledge, Financial Attitude, and Personality on Financial Management Behavior in ASN Diskoperindag Gresik Regency. Innovation Research Journal , 3 (2), 87. https://doi.org/10.30587/innovation.v3i2.4424
Antonizzi, J., & Smuts, H. (2020). The Characteristics of Digital Entrepreneurship and Digital Transformation: A Systematic Literature Review. In Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics): Vol. 12066 LNCS . Springer International Publishing. https://doi.org/10.1007/978-3-030-44999-5_20
Anwar, M. (2018). Business model innovation and SMEs performance-Does competitive advantage mediate? International Journal of Innovation Management , 22 (7), 1–31. https://doi.org/10.1142/S1363919618500573
Ardila, I., Febriaty, H., & Astuti, R. (2021). Factors that Influence the Financial Literacy on Micro Small and Medium Enterprises. Journal of International Conference Proceedings , 4 (2), 144–149. https://doi.org/10.32535/jicp.v4i2.1234
Arsawan, IWE, Koval, V., Rajiani, I., Rustiarini, NW, Supartha, WG, & Suryantini, NPS (2022). Leveraging knowledge sharing and innovation culture into SMEs sustainable competitive advantage. International Journal of Productivity and Performance Management , 71 (2), 405–428. https://doi.org/10.1108/IJPPM-04-2020-0192
Barney, J. B. (2001). Resource-based theories of competitive advantage: A ten-year retrospective on the resource-based view. Journal of Management , 27 (6), 643–650. https://doi.org/10.1016/S0149-2063(01)00115-5
Bhatti, S.H., Ahmed, A., Ferraris, A., Hirwani Wan Hussain, WM, & Wamba, S.F. (2022). Big data analytics capabilities and MSME innovation and performance: A double mediation model of digital platform and network capabilities. Annals of Operations Research . https://doi.org/10.1007/s10479-022-05002-w
Dwijayanti, N., Iqbal, M., & Zulfikar, M. (2022). The Role of Islamic Fintech P2PL in Increasing Inclusion and Financial Literacy of MSMEs. Journal of Islamic Finance , 11 (1), 94–101.
Elango, B. (2019). A Bibliometric Analysis of Franchising Research (1988–2017). Journal of Entrepreneurship , 28 (2), 223–249. https://doi.org/10.1177/0971355719851897
Garg, N., & Singh, S. (2018). Financial literacy among youth. International Journal of Social Economics , 45 (1), 173–186. https://doi.org/10.1108/IJSE-11-2016-0303
Goyal, K., & Kumar, S. (2021). Financial literacy: A systematic review and bibliometric analysis. International Journal of Consumer Studies , 45 (1), 80–105. https://doi.org/10.1111/ijcs.12605
Hamad, H., Elbeltagi, I., & El-Gohary, H. (2018). An empirical investigation of business-to-business e-commerce adoption and its impact on SMEs competitive advantage: The case of Egyptian manufacturing SMEs. Strategic Change , 27 (3), 209–229. https://doi.org/10.1002/jsc.2196
Hanggraeni, D., Šlusarczyk, B., Sulung, LAK, & Subroto, A. (2019). The impact of internal, external and enterprise risk management on the performance of micro, small and medium enterprises. Sustainability (Switzerland) , 11 (7). https://doi.org/10.3390/su10022172
Hasan, M., Le, T., & Hoque, A. (2021). How does financial literacy impact on inclusive finance? Financial Innovation , 7 (1). https://doi.org/10.1186/s40854-021-00259-9
Haseeb, M., Hussain, H.I., Kot, S., Androniceanu, A., & Jermsittiparsert, K. (2019). Role of social and technological challenges in achieving a sustainable competitive advantage and sustainable business performance. Sustainability (Switzerland) , 11 (14). https://doi.org/10.3390/su11143811
Husti, I., & Mahyarni, M. (2019). Islamic Leadership, Innovation, Competitive Advantages, and Performance of SMEs in Indonesia. East Asia , 36 (4), 369–383. https://doi.org/10.1007/s12140-019-09325-7
Irman, M., Budiyanto, B., & Suwitho, S. (2021). Increasing Financial Inclusion Through Financial Literacy And Financial Technology On MSMEs. International Journal of Economics Development Research (IJEDR) , 2 (2), 126–141. https://doi.org/10.37385/ijedr.v2i2.273
Jenita, J., Yuwono, A., Heriana, T., … SD-… R. and C., & 2022, U. (2022). The importance of Digital-based Payment Management Knowledge for MSME Drivers: a Study of Financial Literacy. Budapest International Research and Critics Institute-Journal (BIRCI-Journal) , 5 (2), 9073–9084. https://www.bircu-journal.com/index.php/birci/article/view/4694
Karakurum-Ozdemir, K., Kokkizil, M., & Uysal, G. (2019). Financial Literacy in Developing Countries. Social Indicators Research , 143 (1), 325–353. https://doi.org/10.1007/s11205-018-1952-x
Kitsios, F., & Kamariotou, M. (2021). Artificial intelligence and business strategy towards digital transformation: A research agenda. Sustainability (Switzerland) , 13 (4), 1–16. https://doi.org/10.3390/su13042025
Kiyabo, K., & Isaga, N. (2019). Strategic entrepreneurship, competitive advantage, and SMEs' performance in the welding industry in Tanzania. Journal of Global Entrepreneurship Research , 9 (1). https://doi.org/10.1186/s40497-019-0188-9
Kiyabo, K., & Isaga, N. (2020). Entrepreneurial orientation, competitive advantage, and SMEs' performance: application of firm growth and personal wealth measures. Journal of Innovation and Entrepreneurship , 9 (1). https://doi.org/10.1186/s13731-020-00123-7
Kosová, R., & Sertsiosb, G. (2018). An empirical analysis of self-enforcement mechanisms: Evidence from hotel franchising. Management Science , 64 (1), 43–63. https://doi.org/10.1287/mnsc.2016.2563
Latifah, L., Setiawan, D., Aryani, YA, & Rahmawati, R. (2021). Business strategy – MSMEs' performance relationship: innovation and accounting information systems as mediators. Journal of Small Business and Enterprise Development , 28 (1), 1–21. https://doi.org/10.1108/JSBED-04-2019-0116
Lestari, MD, Kantun, S., Hartanto, W., Suharso, P., & Widodo, J. (2020). Analysis of the financial literacy level of Micro, Small and Medium Enterprises (MSMEs) in Jember, East Java, Indonesia. IOP Conference Series: Earth and Environmental Science , 485 (1). https://doi.org/10.1088/1755-1315/485/1/012128
Lestari, SD, Leon, FM, Widyastuti, S., Brabo, NA, & Putra, AHPK (2020). Antecedents and consequences of innovation and business strategy on performance and competitive advantage of SMEs. Journal of Asian Finance, Economics and Business , 7 (6), 365–378. https://doi.org/10.13106/JAFEB.2020.VOL7.NO6.365
Li, F., Lu, H., Hou, M., Cui, K., & Darbandi, M. (2021). Customer satisfaction with bank services: The role of cloud services, security, e-learning and service quality. Technology in Society , 64 (July 2020), 101487. https://doi.org/10.1016/j.techsoc.2020.101487
Liguori, E., & Winkler, C. (2020). From Offline to Online: Challenges and Opportunities for Entrepreneurship Education Following the COVID-19 Pandemic. Entrepreneurship Education and Pedagogy , 3 (4), 346–351. https://doi.org/10.1177/2515127420916738
Liu, H.M., & Yang, H.F. (2019). Managing Network Resources and Organizational Capabilities to Create Competitive Advantage for SMEs in a Volatile Environment. Journal of Small Business Management , 57 (S2), 155–171. https://doi.org/10.1111/jsbm.12449
Liu, H.M., & Yang, H.F. (2020). Network resource meets organizational agility: Creating an idiosyncratic competitive advantage for SMEs. Management Decision , 58 (1), 58–75. https://doi.org/10.1108/MD-10-2017-1061
Nisa, C., & Pramesti, DA (2020). How Do Effective Digital Marketing and Brand Ambassadors Stimulate Purchase Intention Today? 436 , 365–367. https://doi.org/10.2991/assehr.k.200529.075
Nuryakin. (2018). Competitive advantage and product innovation: Key success of Batik SMEs marketing performance in Indonesia. Academy of Strategic Management Journal , 17 (2), 6104.
Ogheneogaga Irikefe, P., & Isaac Opusunju, M. (2021). Effect of Financial Literacy on the Growth of MSMEs. International Journal of Research Publications , 90 (1). https://doi.org/10.47119/ijrp1009011220212541
Purbasari, R., Muhyi, HA, & Sukoco, I. (2020). Actors and Their Roles in Entrepreneurial Ecosystem: A Network Theory Perspective: Cooperative Study in Sukabumi, West Java. Review of Integrative Business and Economics Research , 9 (3), 240–254.
Puspaningrum, A. (2020). Market Orientation, Competitive Advantage and Marketing Performance of Small Medium Enterprises (SMEs). Journal of Economics, Business, & Accountancy Ventures , 23 (1), 19. https://doi.org/10.14414/jebav.v23i1.1847
Quaye, D., & Mensah, I. (2019). Marketing innovation and sustainable competitive advantage of manufacturing SMEs in Ghana. Management Decision , 57 (7), 1535–1553. https://doi.org/10.1108/MD-08-2017-0784
Official, S., Pahlevi, R.W., & Sayekti, F. (2019). Is There a Pattern of Relationships between Financial Literacy, Tax Literacy, Business Growth, and Competitive Advantage on Creative MSMEs in Yogyakarta. Journal of Advanced Management Science , 7 (4), 136–141. https://doi.org/10.18178/joams.7.4.136-141
Saifurrahman, A., & Kassim, S. (2021). Islamic Financial Literacy for Indonesian MSMEs during COVID-19 Pandemic: Issues and Importance. Journal of Islamic Finance , 10 (1), 45–60.
Samsir, S. (2018). The effect of leadership orientation on innovation and its relationship with competitive advantages of small and medium enterprises in Indonesia. International Journal of Law and Management , 60 (2), 530–542. https://doi.org/10.1108/IJLMA-01-2017-0005
Songling, Y., Ishtiaq, M., & Anwar, M. (2018). Enterprise Risk Management Practices and Firm Performance, the Mediating Role of Competitive Advantage and the Moderating Role of Financial Literacy. Journal of Risk and Financial Management , 11 (3), 35. https://doi.org/10.3390/jrfm11030035
Stucki, T. (2019). What hampers green product innovation: the effect of experience. Industry and Innovation , 26 (10), 1242–1270. https://doi.org/10.1080/13662716.2019.1611417
Sun, K. A., & Lee, S. (2019). Competitive advantages of franchising firms and the moderating role of organizational characteristics: Evidence from the restaurant industry. International Journal of Hospitality Management , 77 (June), 281–289. https://doi.org/10.1016/j.ijhm.2018.07.007
Tukamuhabwa, B., Mutebi, H., & Kyomuhendo, R. (2021). Competitive advantage in SMEs: effect of supply chain management practices, logistics capabilities and logistics integration in a developing country. Journal of Business and Socio- Economic Development . https://doi.org/10.1108/jbsed-04-2021-0051
Udriyah, Tham, J., & Ferdous Azam, SM (2019). The effects of market orientation and innovation on competitive advantage and business performance of textile smes. Management Science Letters , 9 (9), 1419–1428. https://doi.org/10.5267/j.msl.2019.5.009
Utami, ES, Aprilia, MR, & Putra, ICA (2021). Financial Literacy of Micro, Small, and Medium Enterprises of Consumption Sector in Probolinggo City. Journal of Management and Entrepreneurship , 23 (1), 10–17. https://doi.org/10.9744/jmk.23.1.10-17
Vătămănescu, E.M., Gorgos, E.A., Ghigiu, A.M., & Pătruţ, M. (2019). Bridging intellectual capital and SMEs internationalization through the lens of sustainable competitive advantage: A systematic literature review. Sustainability (Switzerland) , 11 (9). https://doi.org/10.3390/su11092510
Yun, M. (2022). The impact of technological capability on MSME innovation: a case study of Vietnam. Asian Journal of Technological Innovation , 30 (3), 491–518. https://doi.org/10.1080/19761597.2021.1890163
Zaky, M., & Zainuddin Hamidi, D. (2022). The Role of Financial Technology in Improving Financial Literacy for MSME Actors. KnE Social Sciences , 2022 , 257–266. https://doi.org/10.18502/kss.v7i14.11974
Published
2023-10-19
How to Cite
Amelia Sugangga, Puji Handayati, & Arief Noviarakhman Zagladi. (2023). Measuring The Contribution Of Financial Literacy In Building The Competitive Advantage Of MSMEs In Indonesia : Systematic Literature Review (SLR). Brilliant International Journal Of Management And Tourism , 3(3), 63-77. https://doi.org/10.55606/bijmt.v3i3.2225
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