International Journal of Applied Finance and Business Studies

A capability-based pathway from entrepreneurial leadership to SME performance

Asraf Yunus — 2026-09-30

SMEs in emerging regional economies depend heavily on owner-managers, yet prior research does not adequately explain whether entrepreneurial leadership improves performance directly or through distinct organizational capabilities. This study examines the parallel mediating roles of strategic agility and innovation capability in the relationship between entrepreneurial leadership and SME performance. Survey data were obtained from 384 SME owners and managers in Southeast Sulawesi, Indonesia, and analyzed using PLS-SEM in SmartPLS 4. Entrepreneurial leadership had strong positive effects on strategic agility (β = 0.790, p < 0.001) and innovation capability (β = 0.791, p < 0.001), but only a modest direct effect on SME performance (β = 0.083, p = 0.035). Strategic agility (β = 0.227, p < 0.001) and innovation capability (β = 0.683, p < 0.001) both improved performance. The indirect effect through innovation capability (β = 0.540, p < 0.001) was substantially larger than the indirect effect through strategic agility (β = 0.179, p < 0.001). The study contributes by showing that entrepreneurial leadership is primarily performance-relevant when translated into firm-level adaptive and value-creation capabilities. SME support programs should therefore connect leadership development with rapid decision routines, market responsiveness, product and service renewal, and continuous process improvement.

The influence of financial literacy and the quality of financial reports on MSME performance

Bayu Adi — 2026-09-30

Previous studies have reported inconsistent findings regarding the relationship between financial literacy, financial reporting quality, and MSME performance. While several studies have found that financial literacy and financial reporting quality positively influence MSME performance, other studies have reported insignificant effects, indicating the need for further empirical examination. This study aims to examine the influence of financial literacy and financial reporting quality on MSME performance in Surabaya by considering both variables simultaneously as complementary dimensions of MSME financial capability. A quantitative approach was employed using questionnaire data collected from MSME owners in Surabaya. A total of 400 questionnaires were distributed, of which 384 complete and usable responses were obtained, resulting in a final analytical sample of 384 respondents. The data were analyzed using multiple linear regression with the assistance of SPSS. The results show that financial literacy has a positive and significant effect on MSME performance (β = 0.206; t = 5.753; p < 0.001), while financial reporting quality also has a positive and significant effect (β = 0.390; t = 9.778; p < 0.001). The model explains 42.9% of the variation in MSME performance (R² = 0.429). These findings contribute to the literature by integrating owner-level financial capability and financial information quality within a single framework for explaining MSME performance. The study suggests that improving MSME performance requires not only strengthening financial knowledge and decision-making skills but also improving the quality of financial information used for business management.

Local wisdom-based hotel management strategy in strengthening the destination branding of Tanah Karo tourism

Daniel Sihombing — 2026-08-08

Tourism development increasingly emphasizes local wisdom as a strategic asset in strengthening destination identity and competitiveness. This study analyses a local wisdom-based hotel management strategy at Sibayak Berastagi Hotel and its contribution to the destination branding of Tanah Karo. An interpretive qualitative case-study design was applied to a structured dataset comprising 18 role-based informants: three managers, five operational employees, six hotel guests, one tourism-office representative, one Karo cultural leader, and two local micro-enterprise actors. Data were analysed through open, axial, and selective coding using an interactive qualitative analysis approach. Source and method triangulation, a codebook, an audit trail, an evidence matrix, and contextual description were used to strengthen trustworthiness. The analysis identified four interconnected themes: cultural orientation in management, the translation of mehamat into service behaviour, cultural products and spatial identity, and community collaboration. These practices create culturally meaningful guest touchpoints that strengthen perceived authenticity and destination differentiation. The study proposes a Cultural Hospitality–Destination Branding pathway that links local values, managerial translation, guest experience, and destination-brand outcomes.

Analysis of QRIS user satisfaction in the dana app for MSMEs using end-user computing satisfaction (EUCS) and customer satisfaction index (CSI)

Nurul Aulia Asri — 2026-10-05

The use of the Indonesian Standard Quick Response Code (QRIS) through the Dana app increasingly supports digital transaction activities for Micro, Small, and Medium Enterprises (MSMEs). User experience in using this service needs to be evaluated to understand their satisfaction levels. This study aims to find out the user satisfaction level of Qris on the Dana app among MSMEs in Central Lombok Regency based on five dimensions of End-User Computing Satisfaction (EUCS), namely Content, Accuracy, Format, Ease of Use, and Timeliness, as well as to measure the overall satisfaction level using the Customer Satisfaction Index (CSI). The study uses a quantitative approach with a survey design. The data was collected on May 20, 2026, using a 1–5 Likert scale questionnaire. A total of 150 MSMEs actors were selected using purposive sampling with the criteria of having used QRIS on the Dana app for at least one month and performing QRIS transactions at least three times per month. The instrument consisted of 23 initial statements, which were tested using Pearson Product Moment correlation for validity and Cronbach’s Alpha for reliability. The test results showed that 22 statements were valid, and all EUCS dimensions had reliability values above 0.60. Descriptive analysis showed that all EUCS dimensions fell into the satisfied category. Timeliness scored the highest average at 3.74, while Content and Accuracy scored the lowest at 3.51. The CSI calculation resulted in a value of 72%, which falls into the satisfied category. This indicates that the respondents generally gave a positive assessment of using Qris on the Dana app. EUCS provides insights into satisfaction based on each dimension, while CSI gives an overall picture of satisfaction. The research findings are limited to the MSMEs respondents studied in Central Lombok Regency

Building work readiness through teamwork and problem solving skills

Kirana Anggit Rahmadanty — 2026-09-30

Despite the growing importance of employability skills in healthcare education, previous studies have reported inconsistent findings regarding the effects of teamwork and problem-solving on work readiness and have rarely examined the moderating role of Personal Qualities, particularly among Diploma III Midwifery students. This study therefore addresses this gap by investigating whether Personal Qualities strengthen the relationships between teamwork, problem-solving skills, and work readiness. An explanatory quantitative research design was employed using a sample of 170 Diploma III Midwifery students, selected through a total sampling technique. Data were collected using an online questionnaire and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4. The analysis included measurement and structural model evaluation, followed by bootstrapping to test the proposed hypotheses. The results showed that teamwork (β = 0.406; p < 0.001), problem-solving skills (β = 0.395; p < 0.001), and Personal Qualities (β = 0.319; p < 0.001) had significant positive effects on work readiness, whereas the moderating effects of Personal Qualities on the relationships between teamwork and work readiness (p = 0.201) and between problem-solving skills and work readiness (p = 0.275) were not significant. These findings extend the Employability Skills Theory by demonstrating that Personal Qualities function as an independent predictor rather than a moderating mechanism in explaining work readiness. Practically, the findings provide evidence for higher education institutions, curriculum developers, and policymakers to strengthen teamwork, problem-solving, and personal qualities through collaborative learning, simulation-based education, and clinical practice to enhance graduate employability and professional readiness.