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This research aimed to explore the independence of female MSMEs entrepreneurs in making formal debt decisions. It investigated from the perspective of business and entrepreneurship characteristics that impact the financial and non-financial aspects of business performance based on moderation by a patriarchal culture.The analysis involved a survey of 248 female entrepreneurs involved in food and beverage processing in Semarang, Indonesia. Subsequently, the findings indicated that business and entrepreneur characteristics positively affect the independence of formal debt decision-making. This independence was also shown to positively impact the financial and non-financial aspects of business performance. Moreover, patriarchal culture was revealed to strengthen the effect of entrepreneur characteristics on the independence of formal debt decision-making.
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