Faktor Penentu Minat Investasi di Pasar Modal Syariah: Studi Pada Generasi Z Kota Malang

Mohamad Bastomi, Nurhidayah Nurhidayah

Abstract


The Islamic capital market has enormous potential to encourage sustainable economic and financial development. Investors in the Islamic capital market are still very small when compared to the total population of Indonesia. Public interest in investing is quite low, but they do not have sufficient knowledge to assess the risks and returns of the Islamic capital market. Thus, the purpose of this study is to examine the factors that influence Gen Z's interest in investing in the Islamic capital market, risk perception, social media influencers, and disposable income. This research utilizes a quantitative methodology focused on the generation Z population in Malang City. A total of 200 research samples were collected using the incidental sampling method. The collected information was analyzed using the PLS (Partial Least Squares) method. The results of data analysis show that interest in investing in Islamic capital markets is influenced by Islamic capital market literacy, risk perception, and social media influencers. However, the results of data analysis show that disposable income does not affect investment interest. This study has practical implications for increasing Gen Z participation in Malang City in investing in the Islamic capital market. Educational efforts aimed at improving Islamic capital market literacy, effective risk management, and utilizing the positive influence of social media influencers can motivate Gen Z's interest in investing in the Islamic capital market.


Full Text:

PDF

References


Adiningtyas, S., & Hakim, L. (2022). Pengaruh Pengetahuan Investasi , Motivasi , dan Uang Saku terhadap Minat Mahasiswa Berinvestasi di Pasar Modal Syariah dengan Risiko Investasi sebagai Variabel Intervening. Jurnal Ilmiah Ekonomi Islam, 8(01), 474–482.

Albaity, M., & Rahman, M. (2019). The intention to use Islamic banking : an exploratory study to measure Islamic financial literacy. International Journal of Emerging Markets, 4(5), 988–1012. https://doi.org/10.1108/IJOEM-05-2018-0218

Aulia, M. P. A., & Fikriyah, K. (2022). Vol. 2 No. 2, Year [2022] Page 2484-2502 Pengaruh Religiusitas dan Tingkat Literasi Pasar Modal Syariah terhadap Minat Berinvestasi pada Saham Syariah: Studi Kasus pada Mahasiswa di Jawa Timur. Jurnal Ilmu Komputer, Ekonomi Dan Manajemen (JIKEM), 2(2), 2484–2502.

Budiaji, W. (2013). The Measurement Scale and The Number of Responses in Likert Scale. Jurnal Ilmu Pertanian Dan Perikanan Desember, 2(2), 127–133. http://umbidharma.org/jipp

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(02), 44–56.

Dean, D., Suhartanto, D., & Pujianti, F. N. (2022). Millennial Behavioural Intention in Islamic Banks : The Role of Social Media Influencers. Journal of Islamic Marketing, 13(12), 2796–2814. https://doi.org/10.1108/JIMA-02-2021-0042

Dinc, Y., Çetin, M., Bulut, M., & Jahangir, R. (2021). Islamic fi nancial literacy scale : an amendment in the sphere of contemporary fi nancial literacy. ISRA International Journal of Islamic Finance, 13(2), 251–263. https://doi.org/10.1108/IJIF-07-2020-0156

El Maknouzi, M. E. H., & Jadalhaq, I. M. (2020). Where are Islamic finance indices pointing towards?: Lessons from experimental ‘pockets’ of Islamic financial regulation on international stock markets. Journal of Financial Regulation and Compliance, 28(2), 267–281. https://doi.org/10.1108/JFRC-03-2019-0040

Fauzianti, A., & Retnosari. (2022). Pengaruh Modal Awal Investasi, Pengetahuan Investasi, Sosial Media Influencer Terhadap Minat Investasi Mahasiswa Akuntansi Universitas Tidar. Jurnal Sinar Manajemen, 09(1), 26–35.

Fitrianti, L., Muhammad, I., & Dara, A. (2021). Faktor-Faktor Yang Mempengaruhi Minat Masyarakat Kota Ternate Untuk Berinvestasi Di Saham Syariah Melalui Bursa Galeri Investasi Unkhair. JAMM, 2(2), 150–163.

Franata, R. (2021). Pengaruh Tingkat Religuisitas, Persepsi dan Disposible Income Terhadap Minat Menabung Di Perbankan Syariah (Studi kasus Pada Nasabah Bank Muamalat KCP Curup. IAIN Curup.

Hana, K. F. (2019). Efektifitas Literasi Melalui Game Nabung Saham Go Terhadap Keputusan Membeli Saham Syariah. Equilibrium: Jurnal Ekonomi Syariah, 7(2), 367–385.

Hariyani, R. (2022). Urgensi Literasi Keuangan Terhadap Pengelolaan Keuangan Pribadi Mahasiswa di Masa Pandemi COVID-19 di Indonesia. Widya Cipta: Jurnal Sekretaris Dan Manajemen, 6(1), 46–54.

Hasanah, F., Wahyuningtyas, E. T., & Susesti, D. A. (2022). Dampak Motivasi Investasi, Persepsi Resiko, Literasi dan Efikasi Keuangan Terhadap Minat Mahasiswa Berinvestasi Di Pasar Modal. Jurnal Akuntansi AKUNESA, 10(2), 57–66. https://doi.org/10.26740/akunesa.v10n2.p57-66

Hati, S. R. H., Wibowo, S. S., & Safira, A. (2020). The antecedents of Muslim customers ’ intention to invest in an Islamic bank ’ s term deposits : evidence from a Muslim majority country. Journal of Islamic Marketing. https://doi.org/10.1108/JIMA-01-2020-0007

Hidayanto, S., Tofani, A. Z., Pratiwi, A. P., Rahmah, S., Alfurqaan, D., & Christian, P. (2022). Aksi Sosial Di Internet : Peran Social Media Influencer Sebagai Aktor Dalam Crowdfunding di Media Sosial. Jurnal Komunikasi, Masyarakat Dan Keamanan (Komaskam), 4(1), 13–29.

Jatim Newsroom. (2022). No Title. Https://Kominfo.Jatimprov.Go.Id/. https://kominfo.jatimprov.go.id/berita/gubenur-khofifah-alhamdulillah-indeks-literasi-dan-inklusi-keuangan-jatim-lampaui-target-nasional

Kemu, S. Z. (2016). Literasi Pasar Modal Masyarakat Indonesia. Kajian, 21(2), 161–175. http://jatim.antaranews.com/

Kurniawan, M., & Septiana, E. (2020). Pengaruh Financial Knowledge, Persepsi, Religiusitas Dan Disposible Income Terhadap Minat Menabung Di Bank Syariah (Studi Pada Pelaku Umkm Di Kecamatanterbanggi Besar Lampung Tengah). Al-Mashrof: Islamic Banking and Finance, 1(2), 55–67.

Lathifah, H. M., & Garbo, A. (2022). Investasi Saham Syariah di Tengah Pandemi COVID-19 : Peran Pengetahuan Dan Social Media Influencer. Abhats: Jurnal Islam Ulil Albab, 3(1), 63–75.

Lisdayanti, R., Studi, P., Akuntansi, P., Ekonomi, F., Negeri, U., Hakim, L., Studi, P., Akuntansi, P., Ekonomi, F., & Negeri, U. (2021). Pengaruh Pengetahuan Investasi Syariah Produk Investasi Syariah Dan Modal Minimal Mahasiswa Terhadap Minat Investasi Bank Syariah Dengan Intervening Pada Mahasiswa Perguruan. Jurnal Masharif Al-Syariah: Jurnal Ekonomi Dan Perbankan Syariah, 6(1), 13–28.

Listyani, T. T., Rois, M., & Prihati, S. (2019). Analisis Pengaruh Pengetahuan Investasi, Pelatihan Pasar Modal, Modal Investasi Minimal Dan Persepsi Risiko Terhadap Minat Investasi Mahasiswa Di Pasar Modal (Studi Pada Pt Phintraco Sekuritas Branch Office Semarang). Jurnal Aktual Akuntansi Keuangan Bisnis Terapan (AKUNBISNIS), 2(1), 49. https://doi.org/10.32497/akunbisnis.v2i1.1524

Mahendrayani, P. Y., & Musmini, L. S. (2021). Pengaruh Pemahaman Investasi , Penggunaan Teknologi Media Sosial dan Hubungan Pertemanan Terhadap Minat Investasi Generasi Milenial di Pasar Modal. Jurnal Akuntansi Profesi, 12(2), 294–305.

Maksar, M. S., Ma’mum, S. Z., Murini, & Firdani, W. S. (2022). Pengambilan Keputusan Investasi Syariah Yang Dimoderasi oleh Gender ( Studi Pada Investor Mahasiswa Galeri Investasi Syariah BEI. Journal Economics,Technology And Enterpreneur, 3805(02), 47–62. http://ejournal.iaimu.ac.id/index.php/freakonomics/article/view/32/30

Nisa, A. M., & Hidayati, A. N. (2022). Pengaruh Pengetahuan Investasi , Risiko Investasi , Kemajuan Teknologi dan Motivasi Terhadap Minat Generasi Z Berinvestasi di Pasar Modal Syariah. Ekonomi, Keuangan, Investasi Dan Syariah (EKUITAS), 4(1), 28–35. https://doi.org/10.47065/ekuitas.v4i1.1676

Nurhidayah. (2018). Gender , Pengetahuan Keuangan , dan Niat Bertansaksi Saham. JIBEKA: Jurnal Ilmiah Bisnis Dan Ekonomi Asia, 12(2), 7–15.

Nurmala. (2019). Pengaruh Tingkat Disposible Income Dan Tingkat Pengetahuan Mahasiswa Perbankan Syariah Terhadap Minat Berinvestasi Di Pasar Modal Syariah (Studi Pada Investor Galeri Investasi Syariah IAIN Bengkulu). IAIN Bengkulu.

Parmitasari, R., Bulutoding, L., & Alwi, Z. (2020). Financial Satisfaction of Islamic Investing: The Role of Religiosity and Financial Knowledge. Proceedings of the Proceedings of the 19th Annual International Conference on Islamic Studies, AICIS 2019, 1-4 October 2019, Jakarta, Indonesia, March. https://doi.org/10.4108/eai.1-10-2019.2291738

Puspitasari, V. E., Yetty, F., & Nugraheni, S. (2021). Pengaruh Literasi Keuangan Syariah, Persepsi Imbal Hasil, dan Motivasi terhadap Minat Investasi di Pasar Modal Syariah. 2(2), 122–141.

Rezeki, F. A. S., & Pitaloka, E. (2020). Faktor-Faktor Yang Mendorong Keputusan Investasi Saham Di Masa Pandemic. Seminar Nasional Terapan Riset Inovatif (SENTRINOV), 6(2), 131–138.

Rinwantin, R., & Pujiastuti, Y. (2020). Determinan Minat Mahasiswa Dalam Melakukan Investasi Syariah. ECONBANK: Journal of Economics and Banking, 2(2), 121–128. https://doi.org/10.35829/econbank.v2i2.97

Setyowati, S., Kholisoh, L., & Untara. (2021). Pengaruh Tingkat Religiusitas Dan Disposible Income Terhadap Minat Menabug Masyarakat Kota Jambi Di Bank Syari’ah Mandiri (Cabang Jambi). Jurnal Ilmiah Ekonomi Dan Kewirausahaan, 17(1), 13–26. https://doi.org/http://dx.doi.org/10.59112/ekowir.v17i01.186

Wahyuningsari, D., Hamzah, M. R., Arofah, N., Hilmiyah, L., & Laili, I. (2022). Maraknya Hedonisme Berkedok Self Reward. Jurnal Ilmu Sosial Humaniora Indonesia, 2(1), 7–11.

Wardani, D. K., & Supiati. (2020). Pengaruh Sosialisasi Pasar Modal dan Persepsi atas Risiko terhadap Minat Investasi Mahasiswa di Pasar Modal. Jurnal Akuntansi, 12, 13–22.

Wulandari, D. A., & Iramani, R. (2014). Studi Experienced Regret , Risk Tolerance , Overconfidance Dan Risk Perception Pada Pengambilan Keputusan Investasi. Journal of Business and Banking, 4(1), 55–66.

Zarrouk, H., Ghak, T. El, & Haija, E. A. Al. (2004). Financial development, Islamic finance and economic growth: evidence of the UAE. Journal of Islamic Accounting and Business Research, 34(1), 1–5.




DOI: https://doi.org/10.31294/widyacipta.v7i2.16255

Copyright (c) 2023 Mohamad Bastomi, Nurhidayah Nurhidayah

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Index by:

 
 Published LPPM Universitas Bina Sarana Informatika with supported by Relawan Jurnal Indonesia

Jl. Kramat Raya No.98, Kwitang, Kec. Senen, Jakarta Pusat, DKI Jakarta 10450, Indonesia
Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License