Free cash flow and SME performance in Indonesia: the moderating role of governance in market perception vs. operational reality

Key Points

• Free cash flow significantly influences SME performance, highlighting its importance in operational success.
• Governance acts as a moderating factor, affecting the relationship between market perception and operational reality.
• Analysis employed data from various SMEs in Indonesia to assess performance metrics and governance roles.
• Understanding this interaction may guide SME management strategies and enhance overall market understanding.