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THE DETERMINANTS OF SMEs' SUSTAINABILITY
Corresponding Author(s) : Farida Styaningrum
Humanities & Social Sciences Reviews,
Vol. 8 No. 4 (2020): July
Abstract
Purpose of the study: This study aims to prove the determination of SMEs' sustainability in Madiun's views of intellectual capital and competitive advantage empirically.
Methodology: Data was collected using a questionnaire filled out directly by SME entrepreneurs in Madiun, randomly selected by 200 respondents. This study applied quantitative research conducted in two phases. First, perform exploratory factor analysis tests, and the second phase, confirmatory factor analysis using AMOS version 18.
Main Findings: The results of the study found that intellectual capital directly did not significantly impact SMEs' sustainability. Intellectual capital significantly affects a competitive advantage. Furthermore, competitive advantages significantly impact SMEs' sustainability. Competitive advantage moderates the impact of intellectual capital on SMEs' sustainability.
Applications of this study: The research is expected to be used by SMEs entrepreneurs to improve their business to be more developed and able to compete in the global market by attention to intellectual capital and the competitive advantage of the company.
Novelty/Originality of this study: Previous studies revealed that intellectual capital has an impact on competitive advantage and SMEs' performance with a focus on financial aspects. This study to prove the determinants of SMEs' sustainability in Madiun as measured by financial and non-financial elements.
Keywords
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- Aboelmaged, M. (2018). The Drivers of Sustainable Manufacturing Practices in Egyptian SMEs and Their Impact on Competitive Capabilities : A PLS-SEM Model. Journal of Cleaner Production, 175, 207–221. https://doi.org/10.1016/j.jclepro.2017.12.053 DOI: https://doi.org/10.1016/j.jclepro.2017.12.053
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- Al Momani, K. M. K., Jamaludin, N., Abdullah, Z. W., & Nour, A. N. I. (2020). The Effects of Intellectual Capital on Firm Performance. Humanities & Social Sciences Reviews, 8(2), 184–192. https://doi.org/10.18510/hssr.2020.8222 DOI: https://doi.org/10.18510/hssr.2020.8222
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- Barney, J. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99–120. https://doi.org/10.1177/014920639101700108 DOI: https://doi.org/10.1177/014920639101700108
- Cantele, S., & Zardini, A. (2018). Is Sustainability a Competitive Advantage for Small Businesses? An Empirical Analysis of Possible Mediators in the Sustainability- Financial Performance Relationship. Journal of Cleaner Production, 182, 166–176. https://doi.org/10.1016/j.jclepro.2018.02.016 DOI: https://doi.org/10.1016/j.jclepro.2018.02.016
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References
Aboelmaged, M. (2018). The Drivers of Sustainable Manufacturing Practices in Egyptian SMEs and Their Impact on Competitive Capabilities : A PLS-SEM Model. Journal of Cleaner Production, 175, 207–221. https://doi.org/10.1016/j.jclepro.2017.12.053 DOI: https://doi.org/10.1016/j.jclepro.2017.12.053
Ajike, E. O., Goodluck, N., Kwarbai, J. D., & Egwuonwu, T. K. (2016). Intellectual Capital and Performance Sustainability of SMEs in Lagos Nigeria. International Journal of Advanced Studies in Business Strategies and Management, 4(1), 77–88.
Akhtar, C. S., Ismail, K., Ndaliman, M. A., Hussain, J., & Haider, M. (2015). Can Intellectual Capital of SMEs Help in Their Sustainability Efforts. Journal of Management Research, 7(2), 82–97. https://doi.org/10.5296/jmr.v7i2.6930 DOI: https://doi.org/10.5296/jmr.v7i2.6930
Al Momani, K. M. K., Jamaludin, N., Abdullah, Z. W., & Nour, A. N. I. (2020). The Effects of Intellectual Capital on Firm Performance. Humanities & Social Sciences Reviews, 8(2), 184–192. https://doi.org/10.18510/hssr.2020.8222 DOI: https://doi.org/10.18510/hssr.2020.8222
Allen, P., & Bennett, K. (2010). PASW Statistics by SPSS: A Practical Guide, Version 18.0. (J. King, Ed.). Australia: National Library of Australia.
Anwar, M., Khan, S. Z., & Khan, N. U. (2018). Intellectual Capital, Entrepreneurial Strategy and New Ventures Performance: Mediating Role of Competitive Advantage. Business & Economic Review, 10(1), 63–94. https://doi.org/10.1108/IJoEM-07-2017-0263 DOI: https://doi.org/10.1108/IJoEM-07-2017-0263
Astuti, P. D., Chariri, A., & Rohman, A. (2019). Association Between Intellectual Capital and Cmpetitive Advantage : a Case Study on the Hotel Industry in Bali Province , Indonesia. Humanities & Social Sciences Reviews, 7(4), 440–449. https://doi.org/10.18510/hssr.2019.7460 DOI: https://doi.org/10.18510/hssr.2019.7460
Aziz, N. N. A., & Samad, S. (2016). Innovation and Competitive Advantage: Moderating Effects of Firm Age in Foods Manufacturing SMEs in Malaysia. Procedia Economics and Finance, 35(October 2015), 256–266. https://doi.org/10.1016/S2212-5671(16)00032-0 DOI: https://doi.org/10.1016/S2212-5671(16)00032-0
Bakshi, H. C. P. (2015). Examining Intellectual Capital and Competitive Advantage Relationship: Role of Innovation and Organizational Learning. International Journal of Bank, 33(3), 8–10. https://doi.org/10.1108/EUM0000000001122 DOI: https://doi.org/10.1108/EUM0000000001122
Barney, J. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99–120. https://doi.org/10.1177/014920639101700108 DOI: https://doi.org/10.1177/014920639101700108
Cantele, S., & Zardini, A. (2018). Is Sustainability a Competitive Advantage for Small Businesses? An Empirical Analysis of Possible Mediators in the Sustainability- Financial Performance Relationship. Journal of Cleaner Production, 182, 166–176. https://doi.org/10.1016/j.jclepro.2018.02.016 DOI: https://doi.org/10.1016/j.jclepro.2018.02.016
Cohen, S., Naoum, V. C., & Vlismas, O. (2014). Intellectual Capital, Strategy and Financial Crisis from a SMEs Perspective. Journal of Intellectual Capital, 15(2), 294–315. https://doi.org/10.1108/JIC-11-2013-0110 DOI: https://doi.org/10.1108/JIC-11-2013-0110
Costa, R. V., Jardon, C., & Dorrego, P. F. (2014). Critical Elements for Product Innovation at Portuguese Innovative SMEs: An intellectual Capital Perspective. Knowledge Management Research and Practice, 12(3), 322–338. https://doi.org/10.1057/kmrp.2014.15 DOI: https://doi.org/10.1057/kmrp.2014.15
Dabić, M., Lažnjak, J., Smallbone, D., & Švarc, J. (2018). Intellectual capital, organisational climate, innovation culture, and SME performance: Evidence from Croatia. Journal of Small Business and Enterprise Development, 26(4), 522–544. https://doi.org/10.1108/JSBED-04-2018-0117 DOI: https://doi.org/10.1108/JSBED-04-2018-0117
Delmar, F., Davidsson, P., & Gartner, W. B. (2003). Arriving at the High-Growth Firm. Journal of Business Venturing, 18, 189–216. https://doi.org/10.1016/S0883-9026(02)00080-0 DOI: https://doi.org/10.1016/S0883-9026(02)00080-0
Dinas Koperasi dan UKM Provinsi Jawa Timur. (2018). Data UKM. Retrieved from http://diskopukm.jatimprov.go.id/info/data-ukm
Eniola, A. A., & Ektebang, H. (2014). SME Firms Performance in Nigeria: Competitive advantage and its impact. International Journal of Research Studies in Management, 3(2), 75–86. https://doi.org/10.5861/ijrsm.2014.854 DOI: https://doi.org/10.5861/ijrsm.2014.854
González-Loureiro, M., & Dorrego, P. F. (2012). Intellectual Capital and System of Innovation: What Really Matters at Innovative SMEs. Intangible Capital, 8(2), 239–274. https://doi.org/10.3926/ic.273 DOI: https://doi.org/10.3926/ic.273
Hair JR., J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2010). Multivariate Data Analysis (Seventh Ed). New Jersey: Pearson Prentice Hall.
Hsu, Y. H., & Fang, W. (2009). Intellectual capital and new product development performance: The mediating role of organizational learning capability. Technological Forecasting and Social Change, 76(5), 664–677. https://doi.org/10.1016/j.techfore.2008.03.012 DOI: https://doi.org/10.1016/j.techfore.2008.03.012
Hu, L.-T., & Bentler, P. M. (1995). Evaluating model fit. In R. H. Hoyle (Ed.), Structural Equation Modeling: Concepts, Issues, and Applications. London: Sage.
Hu, L., & Bentler, P. M. (1999). Cutoff Criteria for Fit Indexes in Covariance Structure Analysis : Conventional Criteria Versus New Alternatives. Structural Equation Modeling: A Multidisciplinary Journal, 6(1), 1–55. https://doi.org/10.1080/10705519909540118 DOI: https://doi.org/10.1080/10705519909540118
Jain, P., Vyas, V., & Roy, A. (2017). Exploring the Mediating Role of Intellectual Capital and Competitive Advantage on the Relation Between CSR and Financial Performance in SMEs. Social Responsibility Journal, 13(1), 1–23. https://doi.org/10.1108/SRJ-04-2015-0048 DOI: https://doi.org/10.1108/SRJ-04-2015-0048
Jansson, J., Nilsson, J., Modig, F., & Vall, G. H. (2017). Commitment to Sustainability in Small and Medium- Sized Enterprises: The In fl uence of Strategic Orientations and Management Values. Business Strategy and the Environment, 26(August 2015), 69–83. https://doi.org/10.1002/bse.1901 DOI: https://doi.org/10.1002/bse.1901
Jardon, C. M., & Martos, M. S. (2012). Intellectual Capital as Competitive Advantage in Emerging Clusters in Latin America. Journal of Intellectual Capital, 13(4), 462–481. https://doi.org/10.1108/14691931211276098 DOI: https://doi.org/10.1108/14691931211276098
Jordão, R. V. D., & Novas, J. C. (2017). Knowledge Management and Intellectual Capital in Networks of Small and Medium-Sized Enterprises. Journal of Intellectual Capital. https://doi.org/10.1108/JIC-11-2016-0120 DOI: https://doi.org/10.1108/JIC-11-2016-0120
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Leaniz, P. M. G. de, & Bosque, I. R. del. (2013). Intellectual Capital and Relational Capital : The Role of Sustainability in Developing Corporate Reputation. Intangible Capital, 9(1), 262–280. https://doi.org/10.3926/ic.378 DOI: https://doi.org/10.3926/ic.378
Leitner, K. H. (2011). The effect of intellectual capital on product innovativeness in SMEs. International Journal of Technology Management, 53(1), 1–18. https://doi.org/10.1504/IJTM.2011.037235 DOI: https://doi.org/10.1504/IJTM.2011.037235
Leitner, K. H. (2015). Intellectual Capital, Innovation, and Performance: Empirical Evidence from SMEs. International Journal of Innovation Management, 19(5). https://doi.org/10.1142/S1363919615500607 DOI: https://doi.org/10.1142/S1363919615500607
Maditinos, D., Chatzoudes, D., Tsairidis, C., & Theriou, G. (2011). The Impact of Intellectual Capital on Firms' Market Value and Financial Performance. Journal of Intellectual Capital, 12(1), 132–151. https://doi.org/10.1108/14691931111097944 DOI: https://doi.org/10.1108/14691931111097944
Mahmood, R., & Hanafi, N. (2013). Entrepreneurial Orientation and Business Performance of Women-Owned Small and Medium Enterprises in Malaysia : Competitive Advantage as a Mediator. International Journal of Business and Social Science, 4(1), 82–90.
Muriithi, S. (2017). African Small and Medium Enterprises (Smes) Contributions, Challenges and Solutions. European Journal of Research and Reflection in Management Sciences, 5(1), 36–48.
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