Confirmatory Factor Analysis of Self-efficacy and Financial Attitudes to Improve the Financial Well-Being of MSMEs
- 10.2991/978-2-494069-15-2_30How to use a DOI?
- Self effication; financial attitude; financial well-being
Micro, Small, and Medium Enterprises (MSMEs) had a significant role to the Indonesian economy. The existence of MSMEs is believed to be able to contribute to efforts to alleviate poverty through job creation. In the financial sector, MSMEs are said to be successful and achieve happiness if they have achieved financial well-being. When MSME actors have self-efficacy and a positive financial attitude, financial well-being is considered high. This study aims to analyze the confirmatory factors of self-efficacy and financial attitudes to improve financial well-being. The study examined data using confirmed factor analysis (CFA) techniques with Structural Equation Modeling (SEM) software. Considering the findings of the examination of confirmatory factors, it is concluded that confidence in financial planning is the indicator that is believed to have the strongest or largest influence on the formation financial self-efficacy. Financial security is the indicator that is determined to have the strongest or largest gift to create a financial attitude, and money saved is the indicator that is considered to have the largest contribution or the strongest form of financial well-being.
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Cite this article
TY - CONF AU - Puji Handayati AU - Nurika Restuningdyah AU - Ratnawati AU - Meldona PY - 2022 DA - 2022/11/16 TI - Confirmatory Factor Analysis of Self-efficacy and Financial Attitudes to Improve the Financial Well-Being of MSMEs BT - Proceedings of the International Conference on Language, Education, and Social Science (ICLESS 2022) PB - Atlantis Press SP - 280 EP - 287 SN - 2352-5398 UR - https://doi.org/10.2991/978-2-494069-15-2_30 DO - 10.2991/978-2-494069-15-2_30 ID - Handayati2022 ER -