The effect of perceived security, social influence, and platform reputation toward trust, investment intention, and actual investment on SMEs with peer-to-peer lending platform (November-December 2022)
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Institusion
Sekolah Tinggi Manajemen Ipmi
Author
Soeta, Renny
Subject
H Social Sciences (General)
Datestamp
2023-08-07 04:22:25
Abstract :
In 2015, Bank Indonesia stated that 60-70% of SMEs did not have access to banking financing for business capital. Most SMEs are funded by their own capital as they fall into the unbankable category. This is where financing services such as P2P lending appear to be more flexible and faster in financing the capital needs of SMEs. Based on several previous studies, it was found that the P2P lending model had been extensively researched on investor interest. Still, it is rare for researchers to examine the factors that influence actual investment. This study is intended to examine the intention to invest in P2P lending platform specifically food subsector of SMEs in Jakarta. Between November and December 2022, 138 respondents from Jakarta were collected as potential investors through purposive sampling method using a questionnaire and processed furthermore using SPSS and SEM PLS. The research finds that social influence and platform reputation are significantly positive on trust. Meanwhile, trust has a significant positive effect on investment intention and investment intention has a significant positive effect o actual investment. However, this study generates a new finding that perceived security is not significantly positive on investors trust, although still needed as the basic function of the platform. Moreover, if people already have the intention to invest, most likely they will do actual investment directly. The findings of this study will assist P2P platforms in enhancing their applications and marketing strategies to attract more investors, which will result in the funding of a greater number of SMEs businesses (SMEs), particularly in food industry.
In 2015, Bank Indonesia stated that 60-70% of SMEs did not have access to banking financing for business capital. Most SMEs are funded by their own capital as they fall into the unbankable category. This is where financing services such as P2P lending appear to be more flexible and faster in financing the capital needs of SMEs. Based on several previous studies, it was found that the P2P lending model had been extensively researched on investor interest. Still, it is rare for researchers to examine the factors that influence actual investment. This study is intended to examine the intention to invest in P2P lending platform specifically food subsector of SMEs in Jakarta. Between November and December 2022, 138 respondents from Jakarta were collected as potential investors through purposive sampling method using a questionnaire and processed furthermore using SPSS and SEM PLS. The research finds that social influence and platform reputation are significantly positive on trust. Meanwhile, trust has a significant positive effect on investment intention and investment intention has a significant positive effect o actual investment. However, this study generates a new finding that perceived security is not significantly positive on investors trust, although still needed as the basic function of the platform. Moreover, if people already have the intention to invest, most likely they will do actual investment directly. The findings of this study will assist P2P platforms in enhancing their applications and marketing strategies to attract more investors, which will result in the funding of a greater number of SMEs businesses (SMEs), particularly in food industry.
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