Two Faces, One Goal: Exploring MSMEs in Indonesia and Malaysia through Financial Governance and Ecopreneurship Lenses

Dewi Sarifah Tullah, Ratih Puspitasari, Sudradjat Sudradjat, Kusuma Dewi, Sutarti Sutarti, Fatimah Abdillah, David HM Hasibuan, Annaria Magdalena, Ani Mekaniwati, Sintia Andriana, Risna Yuniar, Gladys Julien, Jan Febrian, Sefa Salma, Elvyra Shanaz Zaliyanty, Florencia Gina Saputri, Rina Yuriana, Eriza Rizky, Dicky Lesmana, Eka Larasati Putri

Abstract


This study aims to analyze the role of financial governance and ecopreneurship in enhancing the competitiveness of MSMEs in Indonesia and Malaysia. The research employs a quantitative approach by distributing questionnaires to 125 MSME actors residing in Bogor City (Indonesia) and Bukit Bintang (Malaysia). The collected data were analyzed using descriptive statistics and the Mann-Whitney U test. The findings indicate that MSMEs in both countries have implemented financial governance practices, with a higher average score observed among MSMEs in Indonesia. On the other hand, the implementation of ecopreneurship is also more prominent in Indonesia, while MSMEs in Malaysia remain in the neutral category for most indicators. Nonetheless, community-based performance remains a challenge in both countries. This study recommends the need for continuous support from both the government and the private sector to raise awareness and enhance ecopreneurship practices as well as strengthen financial governance, in order to promote sustainability and overall competitiveness of MSMEs.

Keywords


MSMEs; financial governance; competitiveness; sustainability; ecopreneurship

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DOI: http://dx.doi.org/10.52155/ijpsat.v50.1.7173

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