Financial Management Behavior: The Impact of Financial Literacy and Attitudes with Self-Control as Moderator

Abstract

The study aims to analyze the influence of financial literacy and financial attitudes on the financial management behavior of MSMEs and to examine the role of self-control as a moderating variable. The study used a quantitative approach with data obtained through questionnaires to MSME actors. The sampling technique used random sampling with a sample size design based on Slovin. The research data were analyzed using SEM and moderated regression. The study was conducted from the perspective of the Resource-Based View (RBV) theory. This theory explains that financial literacy and financial attitudes are intangible resources, while self-control is an internal capability that optimizes the utilization of these resources. The results showed that financial literacy and financial attitudes have a positive and significant effect on the financial management behavior of MSMEs. In addition, self-control has been shown to strengthen the influence of financial attitudes on financial management behavior. MSME actors with high levels of self-control tend to be more able to consistently implement financial knowledge and attitudes in financial management practices. This study implies that improving MSME financial management requires strengthening financial literacy, financial attitudes, and self-control in an integrated manner.