Cultural-Psychological Dynamics of Financial Decision-Making among Madurese Culinary MSME Entrepreneurs: An Ethnographic Study in Malang, Indonesia
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Objective: This study examines how cultural and psychological dynamics shape financial decision-making among Madurese micro-, small-, and medium-sized enterprise (MSME) owners operating ethnic culinary businesses in Malang, Indonesia.
Methods and Materials: An ethnographic qualitative design was adopted. Twelve Madurese culinary entrepreneurs (8 men, four women; ages 30–55; 2–15 years in business) were purposively selected. Data were generated over three months through participant observation, semi-structured interviews, and field documentation. Transcripts and notes were thematically analyzed using iterative coding and constant comparison, supported by NVivo software. Credibility was enhanced through data triangulation, member checking, and peer debriefing.
Findings: Three interrelated domains were identified. Cultural values, especially family solidarity (katemmu) and community ties (taretan), encouraged conservative borrowing, reliance on informal mutual-help networks, and a preference for stability over expansion. Emotional dynamics, including fear of debt, worry about failure, and the pursuit of calm, motivated small-scale, low-risk strategies and deliberate self-regulation of emotions. Cognitive biases such as status quo bias, loss aversion, and availability heuristics further reinforced cautious behavior, as vivid stories of loan failures and social shame more strongly shaped risk perception than formal financial information.
Conclusion: Financial decision-making among Madurese culinary MSMEs reflects a culturally grounded search for psychological security and social harmony rather than purely profit-maximizing logic. Efforts to expand financial inclusion and support MSMEs should integrate cultural context, emotion regulation, and local narratives into the design of financial education, advisory services, and credit schemes.
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