The role of capital in microfinance financial performance and cultural sustainability

Figures & data

Table 1. Stratified random sampling.

Population: 1,318 LPD
Sample: $\text{n}\hspace{0.17em}=\hspace{0.17em}\frac{1,318}{\hspace{0.17em}1\hspace{0.17em}+\hspace{0.17em}1,318\hspace{0.17em}{(0.05)}^2}\hspace{0.17em}=\text{\hspace{0.05em}}\hspace{0.17em}307\hspace{0.17em}\text{LPD}$
Regencies	Number of LPD	Percentage	Sample
1. Badung	113	8.57%	26
2. Bangli	154	11.68%	36
3. Buleleng	148	11.23%	34
4. Gianyar	249	18.89%	58
5. Jembrana	63	4.78%	15
6. Karangasem	174	13.20%	41
7. Klungkung	114	8.65%	27
8. Tabanan	268	20.33%	62
9. Denpasar	35	2.66%	8
TOTAL	1,318	100%	307

Table 2. Measurement of study variables.

Variable		Notation	Measurement	Expected sign
Dependent variable
Financial performance		ROA	Net profit
			Total asset
Cultural sustainability		CS	25% of net profit
Independent variable
Intellectual capital
Human capital efficiency		HCE	Value-added^a	+/–
			Labour-related cost
Structural capital efficiency		SCE	Value-added^a – labor-related cost	+/–
			Value added^a
Capital employed efficiency		CEE	Value-added^a	+/–
			Total asset
Capital structure (debt to asset ratio)		CaS	Total liabilities	+
			Total asset
Control variable
Size			Total asset	+
Age			Years operating	+
Health			LPD health category^b

^a Value added = operating profit + labour-related cost + depreciation + amortization.

^b Rankings measured by LP-LPD (LPD supervision bureau).

Table 3. Descriptive statistics.

	Mean	Std. Deviation	N
Financial Performance (ROA)	.0213	.01418	921
HCE	2.0843	1.41049	921
SCE	.5025	.31441	921
CEE	.0444	.02284	921
Capital Structure	.8460	.48783	921
Size	35523913.7200	56008369.53000	921
Age	28.6287	5.12401	921
Health	3.0727	1.00115	921

Figures 1 & 2. Histogram and normal P-P plot of model 1.

Figures 3 & 4. Histogram and normal P-P plot of model 2.

Figures 5 & 6. Heteroskedasticity test scatterplot of model 1 and 2.

Table 4. One sample Kolmogorov-Smirnov test.

Residual	P-value
Model 1	0.000
Model 2	0.000

Table 5. VIF multicollinearity test.

Variable	Model 1		Model 2
	Tolerance	VIF	Tolerance	VIF
HCE	0.889	1.125	0.922	1.085
SCE	0.979	1.022	0.993	1.007
CEE	0.700	1.429	0.925	1.081
Capital Structure	0.994	1.006	0.995	1.005
Size	0.879	1.138
Age	0.968	1.033
Health	0.764	1.309

Table 6. Multiple linear regression summary.

Variable	B	t count	P-value t	Definition
Constant	−0.014
HCE	0.002	19.272	0.000	Significant
SCE	0.003	6.427	0.000	Significant
CEE	0.478	53.986	0.000	Significant
Capital Structure	−0.0005	−1.378	0.169	Insignificant
Size	2.160E-12	0.671	0.502	Insignificant
Age	7.867E-5	2.347	0.019	Significant
Health	0.002	8.246	0.000	Significant
α	= 0.050
Coefficient of Determination (R^2)	= 0.870
F-count	= 875.941
F-Table (F7,913,0.05)	= 2.020
P-value F	= 0.000
t-Table (t913,0.05)	= 1.963

Table 7. Multiple linear regression summary.

Variable	B	t count	P-value t	Definition
Constant	88376.956
HCE	26423.408	3.246	0.001	Significant
SCE	76812.900	2.184	0.029	Significant
CEE	−500247.203	−0.997	0.319	Insignificant
Capital Structure	7447.781	0.329	0.742	Insignificant
Α	= 0.050
Coefficient of Determination (R^2)	= 0.018
F count	= 4.112
F Table (F4,916,0.05)	= 2.382
P-value F	= 0.003
t-Table (t916,0.05)	= 1.963

Table A1. LPD growth relative to local economy.

Period	Asset Value (Billion Rupiah)	Asset Growth	Economic Growth*
2022	25,258	8.82%	4,84%
2021	23,210	−1.66%	−2.47%
2020	23,602	−2.98%	−9.33%
2019	24,327	11.82%	5.02%
2018	21,756	17.78%	5.17%

Source: LP-LPD and BPS (2023).

* Based on Bali’s gross regional domestic product.

Badan Pusat Statistik (BPS) Province of Bali. (2023). Bali Province in Figures 2023. https://bali.bps.go.id/publication.html

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Data availability statement

The data used in this research were provided by Lembaga Pemberdayaan Lembaga Perkreditan Desa (LP-LPD) and were processed according to the authors. The data are available upon request from the authors by contacting the corresponding author at [email protected].