Awareness and Perception Analysis of Small Medium Enterprise and Start-up Towards FinTech Instruments: Crowdfunding and Peer-to-Peer Lending in Malaysia
International Journal of Finance and Banking Research
Volume 4, Issue 1, February 2018, Pages: 13-24
Received: Jan. 31, 2018; Accepted: Feb. 16, 2018; Published: Mar. 19, 2018
Views 1463      Downloads 186
Authors
Nasrul Hakim Ghazali, Graduate School of Engineering Management, Shibaura Institute of Technology, Tokyo, Japan
Takashi Yasuoka, Graduate School of Engineering Management, Shibaura Institute of Technology, Tokyo, Japan
Article Tools
Follow on us
Abstract
This study aims to analyze the awareness and perception of Malaysian Small Medium Enterprises and start-ups on the existence of alternatives financing channels such as Peer-to-Peer lending and crowdfunding in supporting the growth and expansion of their business in the future. Results indicate that, at present, the level of awareness of most respondents is still insufficient on Peer-to-Peer lending and crowdfunding as alternative financing instruments. However, based on the perception results, a majority of them have a slightly positive response or perception to the development of FinTech. These results suggest that there is a need and opportunity to raise awareness among Small Medium Enterprises and start-ups by authorized government related body.
Keywords
Awareness, Perception, FinTech, Alternative Financing Instrument, SME, Malaysia
To cite this article
Nasrul Hakim Ghazali, Takashi Yasuoka, Awareness and Perception Analysis of Small Medium Enterprise and Start-up Towards FinTech Instruments: Crowdfunding and Peer-to-Peer Lending in Malaysia, International Journal of Finance and Banking Research. Vol. 4, No. 1, 2018, pp. 13-24. doi: 10.11648/j.ijfbr.20180401.12
Copyright
Copyright © 2018 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
References
[1]
Arner, D. W., & Janos B. (2015). FinTech in China: from the shadows? E&Y Journal of Financial Perspectives: FinTech. [online] Available at: https://www.gfsi.ey.com/the-journal-of-financial-perspectives.php.
[2]
Asaba, S., Aiba, K., Hirano, M. (2016). The Potential of the Fintech Industry to Support the Growth of SMEs in Indonesia, Raras Minerva Management Strategy and Industry Evolution, 35142338-8.
[3]
Baeck, P., Collins, L., Zhang, B. (2014). Understanding Alternative Finance: The UK Alternative Finance Industry Report 2014.
[4]
Ernst & Young (2017). EY FinTech Adoption Index 2017: The rapid emergence of FinTech http://www.ey.com/Publication/vwLUAssets/ey-fintech-adoption-index-2017/$FILE/ey-fintech-adoption-index-2017.pdf (Date Accessed: December 30, 2017).
[5]
Fintech Regulatory Sandbox Framework (2016) http://www.bnm.gov.my/index.php?ch=en_announcement&pg=en_announcement&ac=467&lang=en (Date Accessed: December 30, 2017).
[6]
Ignacio, D. L., & Julian, M. (2017). The Role of Awareness in Crowdfunding Campaigns: The Empirical Evidence For The Caribbean. Inter-American Development Bank, Discussion Paper, IDB-DP-531.
[7]
Information and Communications Technology (ICT) and Digital Adoption: E-Readiness of Malaysian SMEs (2017), http://acccimserc.com/file/file/2017%20 Working%20Papers/Final%20Report%20on%20SMEs%20Readiness%20in%20Digital%20Technology%20-%2019%20Oct%202017 (1).pdf (Date Accessed: December 30, 2017).
[8]
Klaus Schwab, World Economic Forum (2017). The Global Competitiveness Report 2017–2018.
[9]
Lucia, C. (2015). New Approaches to SME and Entrepreneurship Financing: Broadening the Range of Instruments, Economic Co-operation and Development (OECD), http://www.oecd.org/cfe/smes/New-Approaches-SME-full-report.pdf (Date Accessed: September 30, 2017).
[10]
Mollick, E. (2014). The Dynamics of Crowdfunding: An Exploratory Study, Journal of Business Venturing 29, 1- 16.
[11]
Pierangelo, R. (2017). Siliconrepublic.com: Alternative finance: From Crowdfunding to P2P Lending, https://www.siliconrepublic.com/start-ups/alternative-finance-ic4-dcu-symposium (Date Accessed: September 30, 2017).
[12]
Press Release, MasterCard (2013), Youth in Asia/Pacific’s Developing Markets More Money Savvy, But Still Work to Be Done: MasterCard Index of Financial Literacy, https://newsroom. mastercard.com/press-releases/youth-in-asiapacifics-developing-markets-more-money-savvy-but-still-work-to-be-done-mastercard-index-of-financial-literacy/ (Date Accessed: September 30, 2017).
[13]
Rahman, M. P., & Duasa, J. (2016). Factors Contributing To The Success of Crowdfunding: The Malaysian Case, Working Paper.
[14]
Registered Market Operators in Malaysia (2016). https://www.sc.com.my/digital/list_rmo/(Date Accessed: December 30, 2017).
[15]
Saksonova, S., & Kuzmina-Merlino, I. (2017). Fintech as Financial Innovation – The Possibilities and Problems of Implementation, European Research Studies Journal, pp. 961-973.
[16]
Shazida, J. M. K., Nur Syamilah. M. N., Abdul Rahim, A. (2016). Performance of Youth Entrepreneurs In Malaysia Micro Small and Medium Enterprises, International Journal of Economics and Financial Issues, 6 (S7) 86-91.
[17]
Tran. K. C. (2006). Public Perception of Development Issues: Public Awareness Can Contribute to Sustainable Development of a Small Island. Ocean & Coastal Management, 49, 367-383.
[18]
Tubre, T. C., & Collins, J. M. (2000). Jackson and Schuler (1985) revisited: A meta-analysis of the relationships between role ambiguity, role conflict, and job performance. Journal of Management, 26, 155–169.
[19]
World Bank; Enterprise Access to Finance (2014). http://pubdocs.worldbank.org/en/831911430846153177/MSME-Finance-Survey-GEORGIA-EnterpriseAccessToFinance.pdf (Date Accessed: December 30, 2017).
[20]
World Economic Forum Report (2015). The Future of FinTech: A Paradigm Shift in Small Business Finance.
[21]
Yongwoon S., & Dong-Hee, S. (2015). Analyzing China's Fintech Industry from the Perspective of Actor-Network Theory, Telecommunication Policy, Volume 40, Issues 2–3, March 2016, Pages 168-181.
ADDRESS
Science Publishing Group
1 Rockefeller Plaza,
10th and 11th Floors,
New York, NY 10020
U.S.A.
Tel: (001)347-983-5186