Moderating The Role of Financial Literacy and Digital Literacy in The Relationship Between Artistic Orientation and MSME Performance

There are very few studies linking artistic orientation in creative Micro, Small, and Medium Enterprises (MSME) to performance.Creative MSMEs are unique because they combine artistic and economic arts, producing original creations and the ability to compete and succeed in the market.To mix these two things, strategies are needed to improve performance, among others, by increasing literacy.This study examines whether artistically oriented managers perform better and whether financial and digital literacy strengthens the relationship between artistic orientation and performance.Regulatory Focus Theory (RFT) is discussed in addition to the literature on two mechanisms based on the focus on promotion and prevention to achieve entrepreneurial success.This study is the first empirical test of the relationship between artistic orientation and entrepreneurial performance, using the artistic orientation dimension compiled by (Purnomo, 2020).They used primary data sources through questionnaires to 344 creative MSME actors in Yogyakarta.Data analysis using Partial Least Square -SEM results show that artistic orientation significantly affects non-financial and financial performance; the relationship between artistic orientation and financial performance is strengthened by financial literacy but not by digital literacy.