Will Investment Interest in the Sharia Capital Market Continue to Grow in the Future?

Authors

  • Iin Oktaviani Universitas Al Azhar Indonesia
  • Asep Maksum Universitas Al Azhar Indonesia
  • Ahmad Muslim Universitas Al Azhar Indonesia

Keywords:

Islamic Financial Literacy, Islamic Financial Products, Sharia Investment Return, Productive Age

Abstract

The objective of this study is to determine the future development of investment in financial products in the Islamic capital market. The study focuses on three key determinants, including investment literacy, the type of product, and the return on investment in the Islamic capital market. The study utilized quantitative descriptive analysis techniques, specifically multiple linear regression analysis, and collected data from 400 participants residing in DKI Jakarta. The sampling technique employed purposive sampling, with the main criterion being individuals aged 22-45 years, residing in Jakarta, and holding a minimum high school education. The study findings reveal that investment literacy in the Islamic capital market significantly affects investment interest. However, the type of product in the Islamic capital market does not have a significant effect on investment interest. On the other hand, the return on investment in the Islamic capital market significantly influences investment interest. Additionally, all three variables, including investment literacy, the type of product, and the return on investment in the Islamic capital market, have a simultaneous effect on investment interest. The study outcomes can provide valuable insights and references for the Islamic capital market to devise effective strategies that attract more investors in the future.

References

Astuti, R. P. (2020). The Influence of Good Corporate Governance on Sukuk Rating. Journal of Islamic Economics and Social Science (JIESS), 1 (1), https://doi.org/10.22441/jiess.2020.v1i1.005.

Baihaqqy, M. R. I., et. al. (2020). The Effect of Financial Literacy on the Investment Decision. Budapest International Research and Critics Institute-Journal (BIRCI-Journal), 3, https://doi.org/10.33258/birci.v3i4.1333.

DataIndonesia. (2022). Sebanyak 86,9% Penduduk Indonesia Beragama Islam.

Malik, D. (2017). Analisa Faktor-Faktor yang Mempengaruhi Minat Masyarakat Berinvestasi di Pasar Modal Syariah Melalui Bursa Galeri Investasi. Jurnal Ekonomi dan Bisnis Islam, 3 (1).

Malkan, M., et. al. (n.d.). Pengaruh Pengetahuan Tentang Pasar Modal Syariah Terhadap Minat Investasi Saham di Pasar Modal Syariah. Jurnal Ilmu Perbankan dan Keuangan Syariah, 3 (1), https://www.ojk.go.id/id/kanal/pasar.

Nur, A. D., and Hakim, L. (2022). Peran Religiusitas Sebagai Variabel Moderating Pengetahuan, Persepsi Produk Bank Syariah, dan Literasi Keuangan Tehadap Minat Investasi Syariah. 10 (2).

Nurwulandari. (2019). Inflation, the Rupiah Exchange Rate and Their Impact on the Islamic Social Reporting of Consumer Goods Industry Companies Listed in the Indonesian Sharia Stock Index (ISSI) from 2014-2018. International Journal of Islamic Khazanah, 9 (2), 85–92. http://journal.uinsgd.ac.id/index.php/ijik.

OJK. (2022a). Laporan Perkembangan Syariah Indonesia.

OJK. (2022b). Market Update Pasar Modal Syariah Indonesia Periode Januari - Juni 2022.

Ramadhani, D. F., and Cahyono, H. (2020). Pengaruh Literasi Keuangan Syariah Terhadap Rencana Investasi di Pasar Modal Syariah pada Mahasiswa Ekonomi Islam di Surabaya. Jurnal Ekonomika dan Bisnis Islam, 3, 56–71.

Rohayani, S., et. al. (2022). The Effect of Sharia Share, Corporate Sukuk, and Sharia Mutual Fund on National Economic Growth 2013-2020. MEC-J (Management and Economics Journal), 6 (3), 205-218, https://doi.org/10.18860/mec-j.v6i3.17031.

Septyanto, D., et. al. (2021). The Intention of Investors in Making Investment Decisions in Sharia Stocks: Empirical Study in Indonesian. Academic Journal of Interdisciplinary Studies, 10 (4), 141–153, https://doi.org/10.36941/AJIS-2021-0105.

Supriadi, F., and Hariyanto, D. (2017). Faktor Pertimbangan Masyarakat Memilih Daftar Efek Syariah. MOTIVASI: Jurnal Manajemen, 13.

Susanti, S. (2022). Pengaruh Financial Literacy, Initial Capital, dan Profit terhadap Minat Investasi di Pasar Modal Syariah (Studi Kasus Mahasiswa FEBI UIN SMDD Bukittinggi). Jurnal Pendidikan dan Konseling, 4.

Wahyuni, and Gusnita. (2022). Student Interest in Investing in Sharia Capital Market: What is the Influence of Product Information? Journal Islamic Banking and Finance.

Wardani, D. S., and Maksum, A. (2023). Analisis Tingkat Literasi Keuangan Syariah Generasi Milenial di DKI Jakarta. Jurnal Al Azhar Indonesia Seri Ilmu Sosial, 4 (1), https://doi.org/10.36722/jaiss.v4i1.1411.

Zulchayra, Z. (2020). Pengaruh Sosialisasi dan Pengetahuan Terhadap Minat Investasi di Pasar Modal Syariah (Studi pada Mahasiswa di Banda Aceh).

Zulfikar, R., and Wicaksono, T. (2019). Pengaruh Aktifitas Galeri Investasi, Modal Minimal Investasi, Persepsi Resiko, dan Persepsi Return Terhadap Minat Investasi Saham Syariah (Studi pada Mahasiswa UNISKA MAB Banjarmasin). Jurnal Wawasan Manajemen, 7.

Downloads

Published

2024-03-15

How to Cite

Oktaviani, I., Maksum, A., & Muslim, A. (2024). Will Investment Interest in the Sharia Capital Market Continue to Grow in the Future?. SYARIAH: E-Proceeding of Islamic Law, 2(2), 105–118. Retrieved from https://ejournal.unida.gontor.ac.id/index.php/SYARIAH/article/view/11906

Issue

Vol. 2 No. 2 (2023): 2nd ICIEL 2023 (International Conference on Islamic Economic Law)

Section

Articles