Millennials whom we define as aged 22 to 38 in 2018 are expected to be the largest labour force in Indonesia. Despite the fact that the country will reach its productive peak by 2020, the result of national financial literacy survey conducted by OJK show that around 75.69% percent of the population do not have a complete grasp on financial products and services. Ample of research show that a financially illiterate society can create problems to the countries' economy since it may lead to poverty and greater income inequality. This study is conducted to investigate the level of financial literacy, as well as to examine the relationship between financial literacy and demographic factors among Indonesian millennials. We distributed questionnaires to 446 millennials and found that on average the level of financial literacy of Indonesian millennials fell in the fair category. Our result also indicates that millennials who possess Bachelor's Degree or higher, are enrolled in Economics or Business major, and have longer working experiences and receive financial education (formal/informal), appear to have significantly higher level of financial literacy compared to the students with lower level of education, enrolled in courses other than Economics or Business, having no working experience and any exposure to financial education.
This study aims to estimate and test technical efficiency and conduct analysis on the competitiveness of BPRs in the Province of Bali for the period 2012-2016. Estimation on efficiency with the Data Envelopment Analysis (DEA) method was carried out on 134 BPRs whose data is obtained from OJK Regional Office 8 Bali and Nusa Tenggara. Meanwhile, to analyze competitiveness, a questionnaire was distributed to BPR customers, upon which data from customers is analyzed by Focus Group Discussion (FGD) together with BPR and OJK management as regulators. The Results of this study showed that in average, the technical efficiency of BPRs in Bali decreased from year to year from, i.e., 0.6581 in 2012 to 0.5993 in 2016. Buleleng Regency is listed as an area that has the most efficient BPRs with an average efficiency value of 0.7575, then followed BPRs from Karangasem Regency in second place with efficiency scores of 0.7184, and BPRs from Gianyar Regency in third place with a score of 0.6854. Further, based on the results of the analysis of competitiveness and from the FGD, it can be concluded that one of the strengths of BPRs in Bali Province is the loyalty of its customers.
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