Article Sidebar

Submitted
March 15, 2025
Accepted
March 28, 2025
Published
March 29, 2025
Download
PDF
Statistic
Read Counter : 2 Download : 2

Downloads

Download data is not yet available.

Main Article Content

Abstract





This study aims to examine and analyze the impact of green entrepreneurial orientation and financial capability on the financial performance of Micro Small and Medium Enterprises (MSMEs), while also assessing the moderating role of green technology dynamism on the relationship between green entrepreneurial orientation and financial performanceThis quantitative study employs a questionnaire-based data collection method, with questionnaires distributed directly to respondents. The sample consists of 217 MSME actors located in Siak District, Siak Regency. The results demonstrate that green entrepreneurial orientation and financial capability significantly influence the financial performance of MSMEs. Thi results are expected to contribute valuable insights for MSME actors, highlighting the importance of green entrepreneurial orientation and financial capability in enhancing financial performance. MSMEs with green entrepreneurial orientation and financial capability are better equipped to innovate, take proactive measures, and embrace risk to improve financial performance, all while considering economic, social, and environmental aspects within their operational context



 


 


 


Keywords

Green Technology Dynamism Green Entrepreneurial Orientation Financial Capability Financial Performance MSME

Article Details

License

Copyright (c) 2025 Aunurrafiq Aunurrafiq, Kamaliah Kamaliah, Nurul Badriyah

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Hak Cipta (Copyright)

Penulis yang mempublikasikan naskahnya pada Jurnal ini menyetujui ketentuan berikut:

Hak cipta pada setiap artikel adalah milik penulis.

  1. Penulis mengakui bahwa Jurnal  Current : Jurnal Kajian Akuntansi dan Bisnis Terkini berhak sebagai yang mempublikasikan pertama kali dengan lisensi Creative Commons Attribution 4.0 International License.
  2. Penulis dapat memasukan tulisan secara terpisah, mengatur distribusi non-ekskulif  dari naskah yang telah terbit di jurnal ini kedalam versi yang lain (misal: dikirim ke respository institusi penulis, publikasi kedalam buku, dll), dengan mengakui bahwa naskah telah terbit pertama kali pada Jurnal  Current :Jurnal Kajian Akuntansi dan Bisnis Terkini.
How to Cite
Aunurrafiq, A., Kamaliah, K., & Badriyah, N. (2025). GREEN TECHNOLOGY DYNAMISM, GREEN ENTREPRENEURIAL ORIENTATION AND FINANCIAL CAPABILITY FOR ENHANCING MSMEs’ FINANCIAL PERFORMANCE: GREEN TECHNOLOGY DYNAMISM, GREEN ENTREPRENEURIAL ORIENTATION AND FINANCIAL CAPABILITY FOR ENHANCING MSMEs’ FINANCIAL PERFORMANCE. CURRENT: Jurnal Kajian Akuntansi Dan Bisnis Terkini, 6(1), 771–784. https://doi.org/10.31258/current.6.1.771-784
Download Citation
Endnote/Zotero/Mendeley (RIS)
BibTeX

References

  1. Adji. (2023). Bupati Siak Minta Koperasi Kembangkan Model Bisnis Sesuai Zaman.
  2. Alcalde-Calonge, A., Ruiz-Palomino, P., & Sáez-Martínez, F. J. (2022). The circularity of the business model and the performance of bioeconomy firms: An interactionist business-environment model. Cogent Business & Management, 9(1), 2140745. https://doi.org/10.1080/23311975.2022.2140745
  3. Amalina, S., & Damayanti, S. M. (2021). The Influence of Financial Well-Being, Financial Literacy, Financial Capability, and Money Attitude on Local Farmers’ Attitude in Using Agricultural Banking Service in Blitar Regency, Indonesia. Malaysian Journal of Social Sciences and Humanities (MJSSH), 6(7), 343–349. https://doi.org/10.47405/mjssh.v6i7.847
  4. Anantadjaya, S. P. D., Irma M. Nawangwulan, Candra, E., Rahmatya Widyaswati, & Achmad Choerudin. (2023). Pengaruh Financial Capabilities, Networking Terhadap Kinerja Usaha UMKM di Kota Sukabumi Melalui Intellectual Capital. Jurnal Bisnisman : Riset Bisnis Dan Manajemen, 5(1), 16–32. https://doi.org/10.52005/bisnisman.v5i1.131
  5. Ansam, H. (2023). PT RAPP Berkomitmen Terus Dorong Pelaku UMKM terus Berkembang.
  6. Asad, M., Aledeinat, M., Majali, T., Almajali, D. A., & Shrafat, F. D. (2023). Mediating role of green innovation and moderating role of resource acquisition with firm age between green entrepreneurial orientation and performance of entrepreneurial firms. Cogent Business and Management, 11(1). https://doi.org/10.1080/23311975.2023.2291850
  7. Asad, M., Asif, M. U., Bakar, L. J. A., & Sheikh, U. A. (2021). Transformational Leadership, Sustainable Human Resource Practices, Sustainable Innovation and Performance of SMEs. 2021 International Conference on Decision Aid Sciences and Application (DASA), 797–802. https://doi.org/10.1109/DASA53625.2021.9682400
  8. Asad, M., Majali, T., Aledeinat, M., Abdelkarim Almajali, D., & Akhorshaideh, A. H. O. (2023). Green entrepreneurial orientation for enhancing SMEs financial and environmental performance: Synergetic moderation of green technology dynamism and knowledge transfer and integration. Cogent Business and Management, 10(3). https://doi.org/10.1080/23311975.2023.2278842
  9. Babafemi, D. (2022). Assessment of Financial Capability of Small and Medium Enterprises in Akure , Nigeria. 2.
  10. Babajide, A., Osabuohien, E., Tunji-Olayeni, P., Falola, H., Amodu, L., Olokoyo, F., Adegboye, F., & Ehikioya, B. (2023). Financial literacy, financial capabilities, and sustainable business model practice among small business owners in Nigeria. Journal of Sustainable Finance and Investment, 13(4), 1670–1692. https://doi.org/10.1080/20430795.2021.1962663
  11. Bank Indonesia. (2024). Pedoman Pengembangan Umkm Hijau.
  12. Barney. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99–120. https://doi.org/https://doi.org/10.1177/014920639101700108
  13. Birkenmaier, J. M., Sherraden, M. S., & Curley, J. C. (2013). Financial Capability: What is It, and How Can It Be Created? Financial Capability and Asset Building: Research, Education, Policy, and Practice. 314, 3–43.
  14. Cai, L., Liu, Q., Deng, S., & Cao, D. (2014). Entrepreneurial orientation and external technology acquisition: An empirical test on performance of technology-based new ventures. Journal of Business Economics and Management, 15(3), 544–561. https://doi.org/10.3846/16111699.2013.770786
  15. Çera, G., Khan, K. A., Mlouk, A., & Brabenec, T. (2021). Improving financial capability: the mediating role of financial behaviour. Economic Research-Ekonomska Istrazivanja , 34(1), 1265–1282. https://doi.org/10.1080/1331677X.2020.1820362
  16. Dev. (2025). Masa Depan Hijau: Teknologi Kultur Jaringan APRIL Group untuk Hutan Berkelanjutan.
  17. Fathihani, F., Randyantini, V., & Saputri, I. P. (2024). Penyuluhan Model Bisnis Hijau Umkm Dalam Mendorong Transormasi Ekonomi Hijau. Jurnal Pengabdian Kolaborasi Dan Inovasi IPTEKS, 2(2), 361–367. https://doi.org/10.59407/jpki2.v2i2.573
  18. Fatoki, O. (2019). Green entrepreneurial orientation and firm performance in South Africa. Entrepreneurship and Sustainability Issues, 7(1), 247–262. https://doi.org/10.9770/jesi.2019.7.1(19)
  19. García-Villaverde, P. M., Rodrigo-Alarcón, J., Parra-Requena, G., & Ruiz-Ortega, M. J. (2018). Technological dynamism and entrepreneurial orientation: The heterogeneous effects of social capital. Journal of Business Research, 83, 51–64. https://doi.org/https://doi.org/10.1016/j.jbusres.2017.10.004
  20. Gazali, G., & Zainurrafiqi, Z. (2023). The The Effect of Green Entrepreneur Orientation on Network Resource Acquisition and Small and Medium Enterprises’ Business Performance with Knowledge Transfer and Integration and Green Technology Dynamism as Moderator Variables. Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE), 6(1), 136–153. https://doi.org/10.31538/iijse.v6i1.2723
  21. Ghozali, I. (2018). Aplikasi Analisis Multivariate dengan program IBM SPSS 25 (U. Diponegoro (ed.)).
  22. Golsefid-Alavi, M., Sakhdari, K., & Alirezaei, A. (2021). A review of the literature on entrepreneurship and the environment: Opportunities for researching on the green entrepreneurial orientation. Environmental Engineering and Management Journal, 20(5), 819–839. https://doi.org/10.30638/eemj.2021.077
  23. Guo, B., & Huang, J. (2023). Financial Well-Being and Financial Capability among Low-Income Entrepreneurs. Journal of Risk and Financial Management, 16(3), 181. https://doi.org/10.3390/jrfm16030181
  24. Gyamera, E., Abayaawien Atuilik, W., Eklemet, I., Henry Matey, A., Tetteh, L. A., & Kwasi Apreku-Djan, P. (2023). An analysis of the effects of management accounting services on the financial performance of SME: The moderating role of information technology. Cogent Business and Management, 10(1), 1–19. https://doi.org/10.1080/23311975.2023.2183559
  25. Habib, M. A., Bao, Y., & Ilmudeen, A. (2020). The impact of green entrepreneurial orientation, market orientation and green supply chain management practices on sustainable firm performance. Cogent Business and Management, 7(1). https://doi.org/10.1080/23311975.2020.1743616
  26. Hadi, H. (2020). Bupati Alfedri Siapkan Skema Bantuan untuk 800 UMKM Terdampak Covid-19. Https://Www.Cakaplah.Com/.
  27. Jiang, W., Chai, H., Shao, J., & Feng, T. (2018). Green entrepreneurial orientation for enhancing firm performance: A dynamic capability perspective. Journal of Cleaner Production, 198, 1311–1323. https://doi.org/https://doi.org/10.1016/j.jclepro.2018.07.104
  28. Lestari, M., Basri, Y. M., Gusnardi, G., & Wahyuni, N. (2023). Gender, Information Technology, Financial Literacy, Financial Accessibility, And Performance Of Msmes In Indonesia. International Journal of Commerce and Finance, 9(2), 31–54.
  29. Limanseto, H. (2022). Perkembangan UMKM sebagai Critical Engine Perekonomian Nasional Terus Mendapatkan Dukungan Pemerintah. Kementerian Koordinator Bidang Perekonomian Republik Indonesia. https://www.ekon.go.id/publikasi/detail/4593/perkembangan-umkm-sebagai-critical-engine-perekonomian-nasional-terus-mendapatkan-dukungan-pemerintah
  30. Majali, T., Alkaraki, M., Asad, M., Aladwan, N., & Aledeinat, M. (2022). Green Transformational Leadership, Green Entrepreneurial Orientation and Performance of SMEs: The Mediating Role of Green Product Innovation. Journal of Open Innovation: Technology, Market, and Complexity, 8(4). https://doi.org/10.3390/joitmc8040191
  31. Makhloufi, L., Laghouag, A. A., Meirun, T., & Belaid, F. (2022). Impact of green entrepreneurship orientation on environmental performance: The natural resource-based view and environmental policy perspective. Business Strategy and the Environment, 31(1), 425–444. https://doi.org/https://doi.org/10.1002/bse.2902
  32. Muangmee, C., Dacko-Pikiewicz, Z., Meekaewkunchorn, N., Kassakorn, N., & Khalid, B. (2021). Green entrepreneurial orientation and green innovation in small and medium-sized enterprises (Smes). Social Sciences, 10(4). https://doi.org/10.3390/socsci10040136
  33. Mukarromah, D., Jubaedah, J., & Astuti, M. (2020). Financial Performance Analysis on Micro, Small, and Medium Enterprises of Cassava Product in Cibadak, Lebak Regency,. Jurnal Economia, 16(2), 257–268. https://doi.org/10.21831/economia.v16i2.31232
  34. Murwanti, A. (2023). 3 Faktor yang Mempengaruhi Kinerja UMKM di Indonesia, Rahasia Naik Kelas!
  35. Nugraha, G. D. (2024). Siak, Keragaman Kreasi Produk UMKM Berhasil Angkat Nama Daerah.
  36. Nuringsih, K., MN, N., & Rosa, J. A. (2022). Mendorong Green Entrepreneurial Intention Melalui Green Economy dan Green Entrepreneurial Orientation. Jurnal Ekonomi, 27(3), 417–438. https://doi.org/10.24912/je.v27i3.1203
  37. Pavlou, P. A., & El Sawy, O. A. (2011). Understanding the Elusive Black Box of Dynamic Capabilities. Decision Sciences, 42(1), 239–273. https://doi.org/https://doi.org/10.1111/j.1540-5915.2010.00287.x
  38. Redaksi. (2023). Dampingi UMKM Berkembang dan Sadar Lingkungan.
  39. Redaksi. (2024). Penguatan Ekonomi Kreatif: Sinergi Pemerintah dan APR Majukan Desa.
  40. Rosyadah, K., Rahman Mus, A., Semmaila, B., & Chalid, L. (2022). The Relevance of Working Capital, Financial Literacy and Financial Inclusion on Financial Performance and Sustainability of Micro, Small and Medium-Sized Enterprises (MSMEs). American Journal of Humanities and Social Sciences Research, 6, 203–216.
  41. Sahril. (2025). Dongkrak Pertumbuhan Ekonomi Siak Lewat Industri Baja Hijau.
  42. Sari, I. (2024). Apresiasi Pertumbuhan Koperasi di Siak, Bupati Alfedri Ingatkan Pentingnya Digitalisasi.
  43. Schilke, O. (2014). On the contingent value of dynamic capabilities for competitive advantage: The nonlinear moderating effect of environmental dynamism. Strategic Management Journal, 35(2), 179–203. https://doi.org/https://doi.org/10.1002/smj.2099
  44. Simatupang, B. (2013). Tinjauan Komplementer Pengaruh Teori Market-Based View (MBV) dan Resource-Based View (RBV) terhadap Strategi dan Kinerja Perusahaan. Binus Business Review, 4(1), 322. https://doi.org/10.21512/bbr.v4i1.1119
  45. Suardhika, I. N., Yuesti, A., & Sudja, I. N. (2018). Innovation Strategy Based On Resource-Based Theory Perspective And Its Impact On Small And Medium Business Performance. 1(1).
  46. Sugiyono. (2012). Metode Penelitian Bisnis. Alfabeta.
  47. Supriatna, D., Candra, E., Adinugroho, I., Nasution, M. A., & Yanti, N. (2023). Pengaruh Kinerja UMKM Terhadap Pertumbuhan Ekonomi Kabupaten Sukabumi. Sanskara Ekonomi Dan Kewirausahaan, 1(02), 43–53. https://doi.org/10.58812/sek.v1i02.88
  48. Taylor, M. P., Jenkins, S. P., & Sacker, A. (2011). Financial capability and psychological health. Journal of Economic Psychology, 32(5), 710–723. https://doi.org/https://doi.org/10.1016/j.joep.2011.05.006
  49. Teece, D. J., Pisano, G., & Shuen, A. (1997). Dynamic Capabilities and Strategic Management. Strategic Management Journal, 18(7), 509–533.
  50. Wardana, D. (2018). Pengeluaran R&D Dan Financial Sustainability Serta Peran Marketing Performance, Gross Margin, Dan Technological Performance Sebagai Variabel Mediasi. Jurnal Manajemen, 22(2), 154. https://doi.org/10.24912/jm.v22i2.357
  51. Winarsih, W., Winarti, W., Machmuddah, Z., & Tahar, E. B. (2021). The Relationship between Capital Financial, Accounting Capability and Micro-, Small- and Medium-Sized Enterprises’ (MSMEs) Financial Performance in Indonesia. Jurnal Dinamika Akuntansi Dan Bisnis, 8(2), 229–242. https://doi.org/10.24815/jdab.v8i2.21425
  52. Yi, H., Meng, X., Linghu, Y., & Zhang, Z. (2023). Can financial capability improve entrepreneurial performance? Evidence from rural China. Economic Research-Ekonomska Istrazivanja , 36(1), 1631–1650. https://doi.org/10.1080/1331677X.2022.2091631
  53. Zhao, Y., Feng, T., & Shi, H. (2018). External involvement and green product innovation: The moderating role of environmental uncertainty. Business Strategy and the Environment, 27(8), 1167–1180. https://doi.org/https://doi.org/10.1002/bse.2060