The Effect of Financial Literacy, Attitude, Subjective Norm, and Religiosity on Investment Intention in The Islamic Capital Market
DOI:
https://doi.org/10.22219/jamanika.v3i03.29328Keywords:
financial literacy, Attitude, subjective norms, Religiosity, investment intentionAbstract
The purpose of this study was to analyze the effect of financial literacy, attitudes, subjective norms, and religiosity on investment intentions in the Islamic capital market. The sample in this study was 100 active students of the Faculty of Economics and Business, Muhammadiyah University of Malang. The data was analyzed using multiple linear regression analysis using SPSS version 25. The results showed that financial literacy, attitudes, and religiosity have a positive and significant effect on investment intentions in the Islamic capital market and subjective norms have no significant effect on investment intentions in the Islamic capital market. The simultaneous tests show that all variables of financial literacy, attitudes, subjective norms, and religiosity simultaneously have a significant influence on investment intentions in the Islamic capital market.
Downloads
References
Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and Human Decision Processes.
Ajzen, I. (2005). Attitude, Personality and Behavior. McGraw-Hill Education
Anisa, & Kholid, M. N. (2022). Examining the determinants of Islamic stock investment. International Journal of Research in Business and Social Science (2147- 4478), 11(2), 207–213. https://doi.org/10.20525/ijrbs.v11i2.1667
Ashidiqi, C., & Arundina, T. (2017). Indonesia Students’s Intention to Invest in Sukuk : Theory of Planned Behaviour Approach. International Journal of Economic Research, Vol. 14 No. 15. http:www.serialsjournal.com
Azwar, Saifudin (1988). Sikap Manusia:Teori dan Pengukurannya. Yogyakarta: Liberty.
Sa’diyah, C. (2021). Relationship Between Profitability, Investment Decisions On Firm Value: A Study Of Listed Banks In Indonesia. JBMP (Jurnal Bisnis, Manajemen Dan Perbankan), 7(2), 69–88. https://doi.org/10.21070/jbmp.v7i2.1469
Sa’diyah, C., & Hilabi, I. I. (2022). The Effect Of Corporate Governance On Company Value In The Indonesia Stock Exchange And Sharia Stock In Indonesia. Jurnal Manajemen, 8(2), 404–415. https://doi.org/10.17358/jabm.8.2.404
Chen, H., & Volpe, R. P. (1998). An Analisis of Personal Financial Literacy Among College Students”, Financial Service Review. Vol. 7 (2):107-128.
Darmawan, A., Kurnia, K., & Rejeki, S. (2019). Pengetahuan Investasi, Motivasi Investasi, Literasi Keuangan Dan Lingkungan Keluarga Pengaruhnya Terhadap Minat Investasi Di Pasar Modal. Jurnal Ilmiah Akuntansi Dan Keuangan, 08, No. 02.
Ekowati, R., & Darmawan Suwandi, E. (2021). Niat Mahasiswa dalam Berinvestasi Saham (Tinjauan Theory of Planned Behavior). In Jurnal Ilmiah Mahasiswa Manajemen (Vol. 3, Issue 1). http://journal.stieputrabangsa.ac.id/index.php/jimmba/index
Farish, N. M., & Karim, N. A. (2021). A Study on the Factors Affecting the Intention to Invest in Islamic Social Responsible Investment in Malaysia. In An International Journal (Vol. 13, Issue 4).
Fishbein, M. , & Ajzen, I. (2011). Predicting and Changing Behavior: The Reasoned Action Aproach. Psychology Press Taylor & Francis Group.
Fishbein, M., & Ajzen, I. (1975). Belief, Attitude, Intention, and Behavior: An Introduction to Theory and Research.
Ghozali, Imam. 2018. Aplikasi Analisis Multivariate dengan Program IBM SPSS. Yogyakarta: Universitas Diponegoro
Glock, C. Y. , & Stark, R. (1966). Religion and Society in Tension. New York. Rand McNally &Company
Hapsari, S. A. (2021). The Theory of Planned Behavior and Financial Literacy to Analyze Intention in Mutual Fund Product Investment.
Malkan, M. (2022). The Effect of Financial Literacy and Knowledge of Capital Market on Intention to Invest on Islamic Stock Exchange. International Journal of Current Science Research and Review, 05(02). https://doi.org/10.47191/ijcsrr/V5-i2-09
Mazumi., Taswiyah., & Najmudin. (2017). Pengaruh Religiusitas terhadap Perilaku Ekonomi Masyarakat Pasar Tradisional (Studi Empiris Pada Masyarakat Pasar Tradisional di Kota Serang Provinsi Banten).
Muhamad. (2020). Bank & Lembaga Keuangan Syariah Lainnya (Monalisa, Ed.). PT RAJA GRAFINDO PERSADA.
Muttaqin, R., & Ayuningtyas, D. R. (2022). Pengaruh Literasi Keuanagan , Religiusitas Dan Pendapatan Terhadap Minat Investasi Pasar Modal Syariah (Studi Pada Masyarakat Milenial Kota Semarang). Journal Management And Business, 5, No 1. Http://Journal.Upgris.Ac.Id/Index.Php/stability
Nabilah, F., & Hartutik. (2020). Pengaruh Pengetahuan, Religiusitas Dan Motivasi Terhadap Minat Berinvestasi Pasar Modal Syariah Pada Komunitas Investor Saham Pemula. Taraadin, 1, No 1.
Octarina, E., & Syauqi Beik, I. (2019). Customer Purchase Intention On Sharia Mutual Fund Products: A Tpb Approach. In Journal of Consumer Sciences E (Vol. 04, Issue 01).
Purbowisanti, R. (2021). Muslim Investor Behavior in Indonesian Capital Markets: an Extention of Theory of Planned Behavior. Journal of Economics, Finance And Management Studies, 04(08). https://doi.org/10.47191/jefms/v4-i8-01
Putri, D. H., & Hanggraeni, D. (2022). Determinants of Risky Investment Intention among Generation Y: An Evidence from Indonesia. Asian Journal of Research in Business and Management. https://doi.org/10.55057/ajrbm.2022.4.1.4
Salisa, N. R. (2020). Faktor yang Mempengaruhi Minat Investasi Di Pasar Modal: Pendekatan Theory Of Planned Behaviour (TPB). Jurnal Akuntansi Indonesia, 9(2), 182–194.
Samsuri, A., Ismiyanti, F., & Narsa, I. M. (2019). Effects of Risk Tolerance and Financial Literacy to Investment Intentions. www.ijicc.net
Sari, W. G. I., & Ovami, D. Zc. (2021). Pengaruh Motivasi Dan Literasi Keuangan Terhadap Minat Investasi Pada Pasar Modal Syariah (Studi Kasus Mahasiswa Universitas Muhammadiyah Sumatera Utara). National Conference on Applied Business, Education, & Technology (NCABET).
Setiawan, A. E., Musyifah, R., Noviarita, H., Raden, N., Lampung, I., & Islam, U. (2021). The Effect of Financial Literacy, Risk Preference and Religiosity on Generation Z’s Investment Interest in the Islamic Capital Market. Journal of Islamic Business and Economic Review, 4(2). http://journal.stebilampung.ac.id/index.php/jiber
Sugiyono. (2019). Metode Penelitian Kuantitatif, Kualitatif dan R&D. Bandung: PT Alfabet.
Sa’diyah, C., & Pratika, Y. (2022). Understanding The Intention Of Millennial Generation On Investment Through The Financial Technology Application. Business and Accounting Research (IJEBAR) Peer Reviewed-International Journal, 6. https://jurnal.stie-aas.ac.id/index.php/IJEBAR
Tandelilin, & Eduardus. (2001). Analisis Investasi & Manajemen Portofolio. BPFE.
Tandio, T., & Widanaputra, A. A. G. P. (2016). Pengaruh Pelatihan Pasar Modal, Return, Persepsi Risiko, Gender, Dan Kemajuan Teknologi Pada Minat Investasi Mahasiswa. E-Jurnal Akuntansi Universitas Udayana, Vol. 16 No 3.
Wibowo, A., & Purwohandoko. (2019). Pengaruh Pengetahuan Investasi, Kebijakan Modal Minimal Investasi, Dan Pelatihan Pasar Modal Terhadap Minet Investasi (Studi Kasus Mahasiswa Fe Unesa Yang Terdaftar Di Galeri Investasi Fe Unesa). Jurnal Ilmu Manajemen, 7 No 1.
Widagdo, B., & Sa’diyah, C. (2023). Business sustainability: Functions of financial behavior, technology, and knowledge. Problems and Perspectives in Management, 21(1), 120–130. https://doi.org/10.21511/ppm.21(1).2023.11
Downloads
Published
Issue
Section
License
Copyright (c) 2023 Nur Fadhila Agustin, Dewi Nurjannah, Fika Fitriasari
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
