Determinants of MSME Financial Performance: Case During Covid-19 in Indonesia

This research aims to determine the impact of the owner's entrepreneur resilience and the organization's dynamic capability as the mediating variable toward the financial performance of MSMEs during the pandemic.A quantitative method was used in this research: a questionnaire and open-ended questions.The result shows that entrepreneurial resilience mediated by dynamic capability cannot increase financial performance during the Covid-19 pandemic.However, a positive correlation exists between the entrepreneur's resilience and dynamic capability.In addition, the MSME is in survival mode during the pandemic with high entrepreneur resilience followed by the dynamic capability of trying to survive with several strategies.The main contribution of this research lies in determining the impact of entrepreneur resilience on the owner's response toward the pandemic crisis, how they can stay in survival mode, and several strategies the owner uses to survive during the challenging situation.