Financial Literacy: Research Systematic Analysis

. This study aims to analyze and determine the trend of scientific articles to explain and discuss financial literacy in small and medium enterprises. The emphasis of this article is looking for the most frequently discussed themes on financial literacy in small and medium enterprises from 2012 to 2021. Found 40 scientific articles from 160 articles that have been filtered based on the topics discussed. Based on the results of the analysis, there are two major themes related to financial literacy in small and medium enterprises, namely: Financial literacy which discusses investment and entrepreneurial decisions, financial literacy which discusses financial technology, and financial digitization. This research suggests further research on the theoretical and methodological aspects to test the three theme.

This study aims to analyze and determine the trend of scientific articles to explain and discuss financial literacy in small and medium enterprises.The emphasis of this article is looking for the most frequently discussed themes on financial literacy in small and medium enterprises from 2012-to 2021.Financial literacy plays a role in considering the decisions of investors (Drexler & Fischer, 2010), entrepreneurs in maintaining their business, students studying investment from an early age (Thomson, 2020), and housewives in managing family finances (Baporikar & Akino, 2020b).
One of the important roles of financial literacy in the success of women entrepreneurs in Namibia (Baporikar & Akino, 2020b) is to open up opportunities to get more investors in their businesses.In addition, to maximize profit potential, entrepreneurs and investors also need to learn and practice digital financial literacy (Morgan et al., 2020).By utilizing digital features, entrepreneurs can manage the financial potential of their business, allocate budgets, and analyze the company's long-term potential.
In addition to entrepreneurship, financial literacy is also one important knowledge for students (Amager et Corresponding Author: kukuh.lukiyanto@binus.ac.id al., 2018a).This is because financial literacy can be seen as an investment in human capital, and it is very useful for students in their financial responsibilities, including savings (Lusardi & Mitchell, 2014).Including students who are also part of the millennial generation face financial decisions faster than the previous generation (Lusardi & Oggero, 2017).
In general, financial literacy research is spread across several countries, both developed and developing countries.This provides a view of the widespread awareness of the importance of knowledge about finance.In Indonesia, the Financial Services Authority (OJK) has a program that aims to increase financial literacy and financial inclusion in Indonesia.So that in the long term, financial literacy is not only targeted at investors and educated people but also at various groups including housewives and students.
This study provides insight into the distribution of financial literacy research in several countries, years, themes, methods, and the relationship between themes that have been developed.Based on the data that the researchers collected, from 2010 to 2021, there was an increase in research on financial literacy, as well as various themes (explained further in the next session).Can be seen, that in 2010, there were only 2 financial literacy studies, consistent until 2018.However, in 2019, financial literacy research began to increase, and at its peak in 2020, there were 15 studies.Back down in 2021 (it is assumed that there will be a lot of research in 2021 that has not been included, because in 2021 scientific articles are only collected until September 2021).
Based on The first step is to find the publication of relevant scientific articles using Google Scholar as the main source of this research.Researchers used Publish or Perish (PoP) software with 3 combinations of keywords related to the digitization of MSMEs.The first combination, namely "Financial Literacy", resulted in 115 scientific articles.Then, the second key combination, namely "Financial Literacy and Financial Inclusion", resulted in 70 scientific articles.In the third keyword combination, researchers used "Financial Literacy and Digitalization" to produce 50 scientific studies.Finally, the researcher used a combination of the keywords "Financial Literacy, Financial Inclusion, and Entrepreneurship" to produce 42 scientific articles.From the four combinations above, scientific articles, proceedings, conferences, and working papers/thesis are collected.
The second step is to determine specific criteria for further analysis.This criterion is to determine the quality of the articles used in this study.These criteria, namely: the first is an English scientific article.Second, the article must have an index value (https://www.scimagojr.com) and not a predatory journal (https://beallslist.net/).In the final process, the scientific articles used for analysis were 40 scientific articles.
The third step is inputting data or systematic documentation of the 40 scientific articles, based on each aspect, namely, the theory used in the research, research methodology, and research setting (industry/line of business/country of origin the research is carried out), as well as the research theme.These steps are tabulated in Microsoft Excel.
The last step is processing and analyzing scientific articles.To do this, the researcher used VOSviewer to visualize the results of the research and analyze the relationship between one keyword and another.Then, the results of the visualization are discussed to answer research questions.

Results and Discussion
In this session, we will discuss the results of the 40 selected articles by answering two research questions referring to the research setting (theme, subject, and location of the research), research methodology, and clusters of research themes.

a. Financial Literacy Research Theme
There are 33 topics studied with the theme of financial literacy.The breadth of themes discussed in financial literacy proves that there are still many themes that can be explored to assess the extent to which financial literacy affects these aspects.Research conducted by Sabri & Aw (2019), shows that having high literacy skills can make someone improve their standard of living by making good investment decisions or become a reference for entrepreneurs to make good decisions to maintain/develop their business.Then, in the realm of education, the importance of teaching/mentoring/socialization related to financial literacy in students can increase higher awareness of their financial management (Amager et al., 2018b).In addition, amid widespread digital access in most aspects of life, it makes it easy for people to maximize their potential/income only with technology such as mobile phones/laptops that are connected to the internet so that they can provide opportunities to learn about the features of online banking services, financial services.digital, utilizing fintech to get potential investors or entrepreneurs and providing ideas to develop the business as much as possible with just one click (Damayanti et al., 2020).

b. Financial Literacy Research Methodology
Out of the 40 studies analyzed, 6 studies were conducted using the interview method, 1 research using experiments, 8 studies using survey databases, 1 research using databases, 10 studies using literature reviews, and 14 studies using interviews.In Table 3    Then, nodes identify how often the topic is used (example: financial inclusion): nodes are purple.Second, the researcher analyzed each line of the relationship between the nodes with the concept of SNA, the larger the line between the nodes and the more, connecting how often these topics were related to each other in the 40 research articles studied.Third, the researcher identifies the main topic by grouping the interpretations of the main theme.Figure 4 shows the main clusters as follows:  2019) argue that effective financial inclusion is in line with easy access to digital financial literacy and understanding and active use of fintech products.On the other hand, when someone makes good use of financial inclusion, it will be easy to get additional income to support welfare.
Then, secondly, the financial literacy item is closely related to the ease of access to digital financial literacy in the green cluster and the intensity of socialization of financial knowledge (financial knowledge).To provide the dissemination of financial knowledge to every level of society with different backgrounds, socialization is needed, as well as the existence of fintech products that are easy to use for every community.For example: for the lower middle class/small entrepreneurs who want to start a business, they can use the P2P lending application Amarta, which can bring together investors and potential entrepreneurs/small entrepreneurs who are about to start their business.Then, there is also a stock application under the auspices of the Indonesia Stock Exchange, which can target students as a tool to actively understand financial literacy, especially digital financial literacy (Nedungadi et al., 2018).
Finally, in Digital Financial Literacy, the purple cluster is closely related to increasing turnover from entrepreneurs (entrepreneurs).The sale and purchase of cross-border cities, provinces, and even countries online, requires entrepreneurs to adopt digital financial literacy (Kulathunga et al., 2020).For this reason, financial knowledge is needed that is by the conditions of the products that are managed and marketed to maximize the increase in income.

Conclusion
Research on financial literacy gets great attention from year to year.The increasing number of financial literacy research opens opportunities for the expansion of new themes that have never been done before.Then, research methods are still dominated by surveys.The survey method was chosen because it can accommodate the researcher's goals and is by the themes raised by the latest research.As for the experiment, there is still very little research on the theme of financial literacy.Therefore, this can be used as a reference for further research, to develop financial literacy research with experimental methods.Then, for the implementation of the research itself, both developed and developing countries have more or less the same interest in the theme of financial literacy.But, for further research, it can be maximized on a person's behavior and financial literacy.Finally, financial literacy is closely related to financial inclusion and digital financial literacy, so indepth research gaps can be sought for these 3 main themes in further research.

Fig. 1 .
Fig. 1.Chart of Financial Literacy Research Locations e. Clusters on the theme of research on the digitization of SMEs Researchers used VOSviewer software to visualize potential clusters for each keyword from the articles reviewed.First, the researcher identified 3 main clusters based on the different colors (red, blue, and green) on each topic that appeared in the diagram (Figure 2 and 3).The color difference describes the relationship/analysis topics that are connected.

Table 1 .
Number of Financial Literacy Publications the discussion explores the results of the systematic analysis that produces recommendations for further research in the future.This systematic analysis uses bibliometric techniques that have been used previously in the research of Wahyuni & Vanany, (2019) and Indarti, Lukito-budi, & Islam, (2020).The stages of using bibliometric analysis techniques are five steps as follows:

Table 2 .
Financial Literacy Research Methods

Table 3 .
Research Subjects and Database Sources

Table 4 .
Financial Literacy research locations