Determinan Dari Niat Investasi Saham Syariah: Perspektif Toleransi Maghrib

Authors

  • Ustman Ustman Fakultas Ekonomi, Universitas Madura, Jawa Timur
  • Subhan Subhan Fakultas Ekonomi, Universitas Madura, Jawa Timur
  • Rohmaniyah Rohmaniyah Fakultas Ekonomi, Universitas Madura, Jawa Timur

DOI:

https://doi.org/10.22219/jaa.v5i3.22838

Keywords:

Attitudes, Perceived Behavioral Control, Sharia Investment Intentions, Subjective Norms

Abstract

Islamic finance is a sharia-compliant business sector. The factor of religion or sharia compliance is very important to encourage the intention of Muslims to use Islamic financial products. The failure of Islamic financial products to comply with sharia principles has become a major barrier for investors. This leads to the purpose of this paper to reveal the determinants of investment intentions in Islamic stocks with the perspective of MAGHRIB tolerance regulated by the OJK. Sample data from 200 respondents were collected from students of the Economics and Business Faculty at Wiraraja University, Madura University, and Trunojoyo University using purposive sampling method and the data were analyzed using multiple linear regression techniques. The Theory of Planned Behavior is used as the basic framework in which the MAGHRIB tolerance becomes a consensus to test attitudes, subjective norms, and perceived behavioral control on Islamic stock investment intentions. The results showed that MAGHRIB tolerance had a significant relationship consisting of attitudes, subjective norms, perceived behavioral control on Islamic stock investment intentions. The findings of this study can be useful for increasing investment in Indonesia, especially for students to start investing in Islamic stocks.

Downloads

Download data is not yet available.

References

Ajzen, I. (1991). The Theory of Planned Behavior. ORGANIZATIONAL BEHAVIOR AND HUMAN DECISION PROCESSES, 50(2), 179–211.

Akhtar, F., & Das, N. (2019). Predictors of investment intention in Indian stock markets: Extending the theory of planned behaviour. International Journal of Bank Marketing, 37(1), 97–119. https://doi.org/10.1108/IJBM-08-2017-0167

Al-sultan, W. (1999). Financial characteristics of interest-free banks and conventional banks. University of Wollongong Research Online, 1–241. https://ro.uow.edu.au/theses/1019/

Alleyne, P., & Broome, T. (2011). Using the theory of planned behaviour and risk propensity to measure investment intentions among future investors Auditor independence in the Caribbean View project Whistle blowing by external audit staff View project. University of the West Indies, March 2016. https://www.researchgate.net/publication/299483632

Amin, H., Rahim, A., Rahman, A., & Abdul Razak, D. (2014). Consumer acceptance of islamic home financing. International Journal of Housing Markets and Analysis, 7(3), 307–332. https://doi.org/10.1108/IJHMA-12-2012-0063

Astuti, S.W.W. (2021). Persepsi mahasiswa terhadap kesyariahan produk pegadaian syariah. Jurnal Akademi Akuntansi, 4(1). https://doi.org/DOI: https://doi.org/10.22219/jaa.v4i1.15992

Damayanti. (2015). Analisis Kepatuhan Wajib Pajak: Tinjauan Berdasarkan Teori Perilaku Terencana dan Teori Psikologi Fiskal dengan Orientasi Ketidakpastian dan Orientasi Religiusitas sebagai Variabel Moderasi. http://repository.ub.ac.id/id/eprint/160393

Derigs, U., & Marzban, S. (2008). Review and analysis of current Shariah-compliant equity screening practices. International Journal of Islamic and Middle Eastern Finance and Management, 1(4), 285–303. https://doi.org/10.1108/17538390810919600

Dinç Aydemir, S., & Aren, S. (2017). Do the effects of individual factors on financial risk-taking behavior diversify with financial literacy? Kybernetes, 46(10), 1706–1734. https://doi.org/10.1108/K-10-2016-0281

Dow, J. P. (2018). Attitudes towards credit after the Great Recession. Applied Economics Letters, 25(4), 254–257. https://doi.org/10.1080/13504851.2017.1316817

Foltz, B. B., Newkirk, H. E., & Schwager, P. H. (2016). An empirical investigation of factors that influence individual behavior toward changing social networking security settings. Journal of Theoretical and Applied Electronic Commerce Research, 11(2), 1–15. https://doi.org/10.4067/S0718-18762016000200002

Ganiarto, E., Komalasari, F., & Monita Manik, L. E. L. (2021). Novice Investor Behavior in Indonesia Stock Exchange: a Comparative Study Before and During Covid-19 Pandemic. FIRM Journal of Management Studies, 6(1), 107. https://doi.org/10.33021/firm.v6i1.1441

Haque, A. (2010). Islamic banking in Malaysia: A study of attitudinal differences of Malaysian customers. European Journal of Economics, Finance and Administrative Sciences, 18, 7–18.

Hasbullah, N. A., Osman, A., Abdullah, S., Salahuddin, S. N., Ramlee, N. F., & Soha, H. M. (2016). The Relationship of Attitude, Subjective Norm and Website Usability on Consumer Intention to Purchase Online: An Evidence of Malaysian Youth. Procedia Economics and Finance, 35(October 2015), 493–502. https://doi.org/10.1016/s2212-5671(16)00061-7

Ibrahim, Y., & Arshad, I. (2017). Examining the impact of product involvement, subjective norm and perceived behavioral control on investment intentions of individual investors in Pakistan. Investment Management and Financial Innovations, 14(4), 181–193. https://doi.org/10.21511/imfi.14(4).2017.15

Jaffar, M. A., & Musa, R. (2016). Determinants of Attitude and Intention towards Islamic Financing Adoption among Non-Users. Procedia Economics and Finance, 37(December), 227–233. https://doi.org/10.1016/s2212-5671(16)30118-6

Lehrer, E. L. (2004). Religion as a determinant of economic and demographic behavior in the United States. Population and Development Review, 30(4), 707–726. https://doi.org/10.1111/j.1728-4457.2004.00038.x

McDaniel, S. W., & Burnett, J. J. (1990). Consumer religiosity and retail store evaluative criteria. Journal of the Academy of Marketing Science, 18(2), 101–112. https://doi.org/10.1007/BF02726426

Muslim, M. (2020). Moh . Muslim : “ PHK pada Masa Pandemi Covid-19 ” 358. ESENSI: Jurnal Manajemen Bisnis, 23(3), 357–370. https://www.worldometers.info/coronavirus

Ningtyas, M. N., & Istiqomah, D. F. (2021). Perilaku Investasi sebagai penerapan gaya hidup halal masyarakat Indonesia: tinjauan Theory of Planned Behavior. Jurnal Ekonomi Modernisasi, 17(2), 158–172. https://doi.org/10.21067/jem.v17i2.5642

Nisa, K. (2021). Dampak Minimnya literasi Keuangan.

Oktavendi, T. W. (2020). Islamic Financial Technology Usage: An Investing Perspectives On Generation Z. Riset Akuntansi Dan Keuangan Indonesia, 5(2), 151–158. https://doi.org/10.23917/reaksi.v5i2.10100

Onasie, V., & Widoatmodjo, S. (2020). Niat Investasi Generasi Milenial Di Pasar Modal. Jurnal Manajerial Dan Kewirausahaan, 2(2), 318. https://doi.org/10.24912/jmk.v2i2.7924

Paramita, R. S., Isbanah, Y., Kusumaningrum, T. M., Musdholifah, M., & Hartono, U. (2018). Young investor behavior: implementation theory of planned behavior. International Journal of Civil Engineering and Technology, 9(7), 733–746.

Peter, O., & Olson, J. C. (1996). Consumer Behavior and Strategic Management. Erlangga.

Qtaishat, N. M. (2021). The effect of covid-19 pandemic on consumer online purchasing behavior. WSEAS Transactions on Business and Economics, 18, 865–874. https://doi.org/10.37394/23207.2021.18.82

Rahman, A. A., Yahya, A. M., & Nasir, H. M. (2010). Islamic norms for stock screening: A comparison between the Kuala Lumpur Stock Exchange Islamic Index and the Dow Jones Islamic Market Index. International Journal of Islamic and Middle Eastern Finance and Management, 3(3), 228–240. https://doi.org/10.1108/17538391011072426

Raut, R.K. and Das.N. (2017). Individual investors ’ attitude towards online stock trading : some evidence from a developing country Rajdeep Kumar Raut * and Niladri Das. 14, 254–267.

Ruiz-Rosa, I., Gutiérrez-Taño, D., & García-Rodríguez, F. J. (2020). Social entrepreneurial intention and the impact of COVID-19 pandemic: A structural model. Sustainability (Switzerland), 12(17), 9–12. https://doi.org/10.3390/SU12176970

Saratian, E. T. P, Soelton, M, Mugiono, M, Muhtadin, M. (2019). Knowledge Of “Maghrib” (Maysir, Gharar And Riba) For The Halal Transaction Of The Community. Journal International Conference on Community Development, 7(2), 72–81.

Soedirman, U. J. (2022). 2022) Factors Affecting The Use Of Digital Financial Services Among Moslems: An Attempt To Extend The Technology Acceptan ce Model. August. https://doi.org/10.22219/jrak.v12i1.18151

Stajkovic, A. D., & Luthans, F. (1998). Social cognitive theory and self-efficacy: Goin beyond traditional motivational and behavioral approaches. Organizational Dynamics, 26(4), 62–74. https://doi.org/10.1016/s0090-2616(98)90006-7

Tarmizi, E. (2019). Harta haram muamalat kontemporer. BMI Publishing.

Venkatesh, V., Thong, J. y. ., & Xu, X. (2012). Consumer Acceptance and Use of Information Technology: Extending the Unified Theory of Acceptance and Use of Technology by Viswanath Venkatesh, James Y.L. Thong, Xin Xu :: SSRN. 36(1), 157–178. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2002388

wiratmini. (2020). Populasi Muslim Indonesia Besar tapi Literasi Keuangan Syariah Minim.

Downloads

Published

2022-11-16