Financial Literacy, Financial Attitude, and Financial Performance of Creative Economy Actors: The Mediating Role of Financial Management

I Kade Adi Sucipta; M Rudi Irwansyah; Komang Krisna Heryanda

doi:10.38142/jtep.v6i3.2110

Authors

I Kade Adi Sucipta Universitas Pendidikan Ganesha, Indonesia
M Rudi Irwansyah Universitas Pendidikan Ganesha, Indonesia
Komang Krisna Heryanda Universitas Pendidikan Ganesha, Indonesia

DOI:

https://doi.org/10.38142/jtep.v6i3.2110

Keywords:

Financial Literacy, Financial Attitude, Financial Management, Financial Performance, Creative Economy

Abstract

economic activities. However, the sustainability of creative economy businesses is determined not only by creativity and innovation but also by the ability to manage financial resources effectively. This study aims to analyze the effects of financial literacy and financial attitude on the financial performance of creative economy actors in Denpasar City and to examine the role of financial management as a mediating variable. The study employed a quantitative approach with an explanatory research design. The research model consists of four constructs: financial literacy, financial attitude, financial management, and financial performance. The data consisted of 81 respondents who were creative economy actors and were analyzed through measurement model assessment, structural model assessment, hypothesis testing, and mediation effect analysis. The results indicate that financial attitude and financial management have positive and significant effects on financial performance, whereas the direct effect of financial literacy on financial performance is not significant. Furthermore, financial literacy and financial attitude have positive and significant effects on financial management. The mediation analysis demonstrates that financial management mediates the relationship between financial literacy and financial performance, as well as the relationship between financial attitude and financial performance. These findings indicate that financial knowledge does not automatically lead to better financial performance when it is not translated into effective financial management practices. The study implies that improving the performance of creative economy actors should focus not only on enhancing financial literacy but also on developing positive financial attitudes and implementing effective financial management practices.

References

Astiti, N. P. Y., Wibawa, I. B. A. S., & Gama, A. W. S. (2023). Exploring the impact of financial attitudes, financial knowledge, and personality on financial management behavior among small and medium enterprises (SMEs). Jurnal Mebis (Manajemen dan Bisnis), 8(2), 133–140. https://doi.org/10.33005/mebis.v8i2.483.

Dewi, I. A. P. R., & Candraningrat, I. R. (2022). Relationship of financial literacy and financial performance to business sustainability: Study on MSMEs in Denpasar city. International Research Journal of Management, IT and Social Sciences, 9(4), 598–611. https://doi.org/10.21744/irjmis.v9n4.2120.

Fauzan, F. A., Setiawati, E., & Suwarno, A. E. (2023). Does financial literacy and attitudes influence financial management behavior in the MSME's sector? Riset Akuntansi dan Keuangan Indonesia, 8(3), 309–316. https://doi.org/10.23917/reaksi.v8i3.4319.

Irwansyah, M. R., Rustini, N. K. A., Wulandari, P. R., Yasa, I. N. M., & Saskara, I. A. N. (2023). Analysis of sustainability of bamboo handicrafts: Investigation of welfare and its supporting variables. E3S Web of Conferences, 440, 07001. https://doi.org/10.1051/e3sconf/202344007001.

Irwansyah, M. R. (2026). Ekonomi kreatif: Kajian teoritis dan empiris. Academia Publication

Irwansyah, M. R., Yuniarta, G. A., & Suwena, K. R. (2024). Financial performance of MSMEs: Effects of financial inclusion, e-commerce use, education, and product innovation. In Proceedings of the International Conference on Economic Management, Accounting and Tourism (ICEMAT 2023), Advances in Economics, Business and Management Research, 97–109. Atlantis Press. https://doi.org/10.2991/978-94-6463-411-2_9.

Irwansyah, M. R., Ohno, S., Suwena, K. R., Heryanda, K. K., & Vijaya, D. P. (2024). Sustainability analysis of the creative economy of weaved crafts: A Monte Carlo model. JPBM (Jurnal Pendidikan Bisnis dan Manajemen), 10(2), 180–197. https://doi.org/10.17977/um003v10i22024p180.

Putri, A. D., & Elwisam. (2025). The influence of financial literacy, financial inclusion, and financial attitude on the financial performance of Depok UMKM through financial management as an intervening variable. Indonesian Interdisciplinary Journal of Sharia Economics, 7(3), 8226–8248. https://doi.org/10.31538/iijse.v7i3.5861.

Ratnawati, K., Azzahra, N., & Dewanta, P. P. (2023). The influence of financial literacy and financial attitude on financial management behavior: A study on culinary micro SMEs in Rawamangun Urban Village, East Jakarta City. International Journal of Research in Business and Social Science, 12(1), 165–173. https://doi.org/10.20525/ijrbs.v12i1.2301.

Rosyida, R. A., & Wicaksono, A. (2026). The effect of financial literacy and financial attitudes on the financial performance. Competitive Jurnal Akuntansi dan Keuangan, 9(1), 45–59. https://doi.org/10.31000/competitive.v9i1.13956.

Satyawati, D. A. P. M., Wimba, I. G. A., & Agustina, M. D. P. (2024). Pengaruh literasi, inklusi, dan pengelolaan keuangan terhadap tingkat kinerja keuangan UMKM di Kota Denpasar. WidyaAmrita: Jurnal Manajemen, Kewirausahaan dan Pariwisata, 4(1). https://doi.org/10.32795/vol4wamrtno1th24.

Sudharmasto, S., & Hastuti, T. D. (2025). Effect of financial literacy, financial reporting, and risk management on financial performance of MSMEs with innovative behavior as mediator. E-Jurnal Akuntansi, 35(3). https://doi.org/10.24843/EJA.2025.v35.i03.p01.

Utami, A. A., & Abdullah, A. (2024). The influence of financial literacy, financial attitudes, and financial behavior on the performance of MSMEs in Bengkulu City. Journal of Economics, Business and Accounting (COSTING), 7(3), 5365–5377. https://doi.org/10.31539/costing.v7i3.8120.

Yahya, A., Saputera, D., Hidayat, T., & Nurjanah, R. (2024). Financial attitude as a mediating variable for financial inclusion and financial literacy on the financial performance of MSMEs. AFRE (Accounting and Financial Review), 7(2), 143–155. https://doi.org/10.26905/afr.v7i2.12685.

Yulianto, M. A., & Rita, M. R. (2023). Mediation of financial management behavior in the influence of fintech and financial literacy on business performance. EQUITY: Jurnal Ekonomi dan Keuangan, 7(2), 212–232. https://doi.org/10.24034/j25485024.y2023.v7.i2.5260.

Putri, C. N., & Azhari, M. (2021). The influences of finance knowledge, financial attitudes, and personality on financial management behaviors on building materials MSME. Almana: Jurnal Manajemen dan Bisnis, 5(3). https://doi.org/10.36555/almana.v5i3.1547