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The Role of Self-efficacy and Financial Attitude to Financial Well-Being: Mediation of MSME Financial Behavior

In: Proceedings of the BISTIC Business Innovation Sustainability and Technology International Conference (BISTIC 2022)

Author

Listed:
  • Puji Handayati

    (State University of Malang, Faculty of Economics)

  • Nurika Restuningdyah

    (State University of Malang, Faculty of Economics)

  • Ratnawati

    (State University of Malang, Doctoral Programme in Management
    Universitas Wisnuwardhana, Faculty of Economics and Business)

  • Meldona

    (State University of Malang, Doctoral Programme in Management
    Universitas Islam Negeri Maulana Malik Ibrahim Malang, Program Studi Akuntansi)

Abstract

In this study, the effect of self-efficacy and financial attitudes on financial well-being as mediated by financial behavior is examined. 160 respondents from Malang City, East Java, Indonesia, who represent small and medium-sized businesses, made up the study’s sample. As an analytical technique, it makes use of structural equation modeling. The results showed that financial activity might influence attitudes that affected both financial behavior and well-being. The findings demonstrated that financial attitudes directly influence financial behavior, which in turn affects financial well-being. How people handle their money for financial well-being may be a moderator of financial attitude. Additionally, a person’s behavior and sense of self-efficacy have a direct influence on their financial well-being. One’s financial decisions are influenced by self-efficacy. Finally, financial behavior cannot offset the impact of financial self-efficacy on the financial health of SMEs in the craft industry in Malang City.

Suggested Citation

  • Puji Handayati & Nurika Restuningdyah & Ratnawati & Meldona, 2023. "The Role of Self-efficacy and Financial Attitude to Financial Well-Being: Mediation of MSME Financial Behavior," Advances in Economics, Business and Management Research, in: Dediek Tri Kurniawan & Ika Zutiasari (ed.), Proceedings of the BISTIC Business Innovation Sustainability and Technology International Conference (BISTIC 2022), pages 293-301, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-178-4_30
    DOI: 10.2991/978-94-6463-178-4_30
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    Cited by:

    1. Mine Aydemir Dev & Onur Barca & Nuran Bayram Arlı & Sevda Gürsakal, 2025. "Examining the financial well-being in challenging economic conditions: structural equation modeling evidence from Türkiye," Future Business Journal, Springer, vol. 11(1), pages 1-13, December.

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