Customer Purchase Intention on Sharia Mutual Fund Products: A TPB Approach

Abstract

This study aimed to determine the influence of variables in TPB (attitude toward behavior, perceived behavioral control, subjective norm), religiosity, knowledge, and risk perception to intention purchase of sharia mutual fund. The sample in this study was customer of Bank Sharia XYZ of 164 customers. The analysis applied in this study was Structural Equation Modeling-Partial Least Square. The result of this research showed that the independent variable had positive and significant influence to dependent variables attitude toward behavior and subjective norm. Religiosity and knowledge have no significant influence toward intention to purchase, while perceived behavioral control and risk perception had no significant influence with intention to purchases. The other result showed that religiosity had a positive significant influence to attitude toward behavior. The conclusion of this research shown that religiosity is the factor which influence attitude toward behavior, attitude toward behavior and subjective norm are the factors which influence intention purchase of sharia mutual fund. AbstrakPenelitian ini bertujuan untuk menganalisis pengaruh variabel TPB (sikap terhadap perilaku, kontrol perilaku persepsi, norma subjektif), religiusitas, pengetahuan, dan persepsi risiko terhadap minat nasabah membeli reksa dana syariah. Jumlah sampel dalam penelitian ini adalah 164 responden. Metode analisis yang digunakan dalam penelitian ini adalah Structural Equation Modeling-Partial Least Square. Hasil penelitian menunjukkan bahwa sikap terhadap perilaku dan norma subjektif berpengaruh positif dan signifikan terhadap minat beli nasabah, sedangkan kontrol perilaku dan persepsi risiko memiliki hasil tidak signifikan terhadap minat beli nasabah. Hasil lainnnya menunjukkan bahwa religiusitas memiliki pengaruh positif dan signifkan terhadap sikap terhadap perilaku. Kesimpulan dari penelitian ini adalah religiusitas merupakan faktor yang mempengaruhi sikap terhadap perilaku, sikap terhadap perilaku dan norma subjektif merupakan faktor yang mempengaruhi minat nasabah membeli reksa dana syariah. Kata kunci: minat, pengetahuan, religiusitas, persepsi risiko, TPB

The Intention to Invest in Retail Bonds in Indonesia

“…Other research conducted by Ali, Zani and Kasim (2014), showed that attitude and perceived behavioural control had a significant and positive influence on investor intentions to invest in Islamic unit trusts. Research conducted by Octarina, Hartoyo and Beik (2019) found that although attitude and subjective norm had a positive and significant effect, the perceived behavioural control variable did not influence the intention to invest in Sharia mutual fund products.…”

“…Based on previous research, the rejection of the hypothesis of the influence between perceived behavioural control on intention also appears in the results of Octarina, Hartoyo and Beik (2019) which showed that attitude and subjective norm had a positive and significant effect. Still, the perceived behavioural control variable did not affect the intention to invest in Sharia mutual funds products in Indonesia.…”

Multidimensional Risk and Religiosity Towards Indonesian Muslims’ Sharia Investment Decision

“…As for risk knowledge, we were unable to find any research that explicitly examined this. However, we assume that risk knowledge is part of financial knowledge, so we connected previous research that links financial knowledge and investment decision behaviour, such as the studies by Njuguna, Namusonge, and Kanali (2016), Raut (2020), Octarina, Hartoyo, and Beik (2019) and Popat and Pandya (2018). Raut (2020) found a significant effect between financial knowledge and investment decision-making.…”

“…His research makes a significant contribution to financial studies regarding the individual investor's decision-making. Octarina et al (2019) analysed the investment intention of sharia mutual fund products in Indonesia and found that knowledge had a significant influence. Njuguna et al (2016), meanwhile, found that people with financial knowledge who understood the difference between mutual funds and stocks were willing to take risks as part of the investment decision-making process.…”

Perilaku Investasi sebagai penerapan gaya hidup halal masyarakat Indonesia: tinjauan Theory of Planned Behavior

“…Hasil pengujian menunjukkan bahwa norma subjektif tidak mempengaruhi minat investasi. Hasil ini tidak sejalan dengan penelitian Akhtar dan Das (2019); Octarina et al (2019); Mahardhika and Zakiyah (2020), namun sesuai dengan penelitian Warsame dan Ireri (2016) dan Salisa (2021). Dukungan dari teman, keluarga, dan orangorang terdekat tidak mampu mempengaruhi minat seseorang untuk berinvestasi.…”