Financial Literacy and Spiritual Intelligence: Their Impact on Financial Management Among MSME Restaurant in Dili City
Keywords:
Financial knowledge, financial attitude, financial behavior, spiritual intelligence, financial management.
Abstract
This study aims to analyze the impact of financial literacy and spiritual intelligence on the financial management of micro, small, and medium enterprises (MSMEs). The aspects of financial literacy explored in this study include financial knowledge, financial attitude, and financial behavior. To achieve this objective, the researcher conducted a study involving 125 restaurants categorized as MSME in Dili, which also serve as the sample for this research. A quantitative approach was employed, using questionnaires as the data collection instrument. The data were analyzed using SMART-PLS 4.0 to test reliability, validity, and hypotheses. The results of this study indicate that the components of financial literacy along with spiritual intelligence, has a positive and significant impact on the financial management of MSMEs, as shown in the P-value of financial knowledge P (0.005), financial attitude P (0.005), financial behavior P (0.000), and spiritual intelligence P (0.000). The P-value of each variable is lower than the standard (P < 0.05). The findings show that components of financial literacy, support restaurant entrepreneurs in managing their financial affairs effectively and efficiently, helping them achieve their business goals. Furthermore, spiritual intelligence serves as a source of strength in overcoming financial problems and difficulties. This study contributes valuable insights that can help develop the aspects of financial literacy and spiritual intelligence, which, in turn, can assist MSMEs in improving financial management. Additionally, it provides practical contributions for restaurant managers and MSMEs by enhancing their knowledge, skills, and capacities in strategic decision-making regarding financial management.
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References
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Beureukat, B., & Setyawati, I. (2022). The Effect of Financial Literacy on the Financial Management of MSMEs in Jatinangor District , Sumedang Regency. Jurnal Ekonomi, 12(5), 684–689.
Bhushan, P., & Medury, Y. (2014). An Empirical Analysis of Inter-linkages between Financial Attitudes, Financial behaviour and Financial Knowledge of Salaried Individuals. Indian Journal of Commerce & Management Studies, 5(3), 80–82. www.scholarshub.net
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Butanescu, R. (2021). Spiritual Intelligence As a Driver of Financial Intelligence in a Company. Revista Economica, 73(1), 20–30. https://doi.org/10.56043/reveco-2021-0002
Chaity, N. S., Kabir, S. Bin, Akhter, P., & Bokhari, R. P. (2024). How Financial Literacy Impacts Financial Well-Being: The Influence of Financial and Technical Efficacy. International Journal of Economics and Financial Issues, 14(2), 207–217. https://doi.org/10.32479/ijefi.15806
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Coşkuner, S. (2017). Linking Financial Management Practices To Financial Literacy: Evidence From Turkey. International Journal of Scientific & Engineering Research, 8(12), 1214–1220. https://doi.org/10.14299/ijser.2017.12.001
Dwiastanti, A. (2017). Analysis of financial knowledge and financial attitude on locus of control and financial management behavior. Management and Business Review, 36(1), 1–8. https://doi.org/10.1287/mksc.2017.1032
Dwiastanti, A., & Wahyudi, A. (2022). Peran Kecerdasan Intelektual, Kecerdasan Emosional Dan Kecerdasan Spiritual Terhadap Pengelolaan Keuangan Usaha Mikro Kecil Dan Menengah (UMKM) Di Kota Malang. INOBIS: Jurnal Inovasi Bisnis Dan Manajemen Indonesia, 5(2), 241–254. https://doi.org/10.31842/jurnalinobis.v5i2.227
Dwyanti, D. (2024). The Importance of Financial Literacy in Financial Management in Micro, Small and Medium Enterprises (MSMEs). Journal of Applied Management and Business, 5(1), 1–6.
https://doi.org/10.37802/jamb.v5i1.661
Eniola, A. A., & Entebang, H. (2016). Financial literacy and SME firm performance. International Journal of Research Studies in Management, 5(1), 31–43. https://doi.org/10.5861/ijrsm.2015.1304
Faridawati, R., & Silvy, M. (2019). Pengaruh niat berperilaku dan kecerdasan spiritual terhadap pengelolaan keuangan keluarga. Journal of Business & Banking, 7(1). https://doi.org/10.14414/jbb.v7i1.1465
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Garg, N., & Singh, S. (2017). Financial Literacy among Youth. International Journal of Social Economics, 29(11), 830–848. https://doi.org/10.1108/IJSE-11-2016-0303
Glick, R., Guo, X., & Hutchison, M. (2006). currency Crises, Capital-Account Liberalization and Selection Bias. The Review of Economics and Statistics, 4(88). https://doi.org/10.1162/rest.88.4.698
Grohmann, A., Hübler, O., Kouwenberg, R., & Menkhoff, L. (2014). Financial literacy and financial behavior: Do women lag behind? Risk and Ambuiguiti 11, E06-V1, 1–32. http://hdl.handle.net/10419/100415
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Published
2025-10-02
How to Cite
Soares, I., Belo, T. and Amaral, A. (2025) “Financial Literacy and Spiritual Intelligence: Their Impact on Financial Management Among MSME Restaurant in Dili City”, Timor Leste Journal of Business and Management, 7, pp. 31-42. doi: 10.51703/bm.v7i0.198.
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Articles
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