Factors Influencing the Intention to Stock Investment Among Muslim Investors in Langsa

Abstract

This study aims to examine the effect of knowledge, income and risk perceptions on the intention in stock investment intention among Muslim investors in the city of Langsa, Aceh, as of 2017. The data used in this study are primary, data derived from questionnaires, interviews, and observations. This study utilized a sample of 100 people, using a random sampling technique. The results of the study show that knowledge, income, and risk perceptions simultaneously influence the stock investment intention in Langsa society. Whereas in partial income and risk perceptions also affect the intention to stock investment, knowledge does not show the same effect. Respondents, who have the knowledge, are still not intentioned in stocks investing. This could be caused by low income from the community which makes the society of Langsa afraid to start investing in stocks. The low level of understanding of respondents about risk has special implications, which can reduce the intention of respondents to invest stocks in the capital market.==============================================================================================Faktor-faktor yang Mempengaruhi Intensi terhadap Investasi Saham di Kalangan Investor Muslim di Langsa. Penelitian ini bertujuan untuk menguji pengaruh pengetahuan, pendapatan dan persepsi risiko terhadap minat investasi saham pada masyarakat Muslim di Kota Langsa, Aceh, pada tahun 2017. Data yang digunakan dalam penelitian ini adalah primer yaitu data berasal dari kuesioner, wawancara dan observasi. Sebanyak 100 sampel dipilih dengan menggunakan teknik random sampling. Hasil penelitian menunjukkan bahwa pengetahuan investasi, pendapatan, dan persepsi risiko secara simultan mempengaruhi minat investasi saham di pasar modal. Secara parsial, hnaya pengetahuan investasi yang tidak mempengaruhi minat investasi terhadap saham, sedangkan persepsi pendapatan dan risiko mempunyai pengaruh yang signifikan. Hal ini menunjukkan bahwa walaupun memiliki pengetahuan yang cukup, responden tetap kurang meminati investasi dalam saham. Salah satu alasan adalah adanya kekhawatiran akan hasil yang tidak akan mencukupi kebutuhan sehari-hari sedangkan pendapatan mereka sendiri masih tergolong rendah. Selain itu, rendahnya pemahaman responden tentang risiko berimplikasi terhadap menurunnya minat responden untuk berinvestasi saham di pasar modal.

The effect of financial knowledge and financial well-being on investment intention mediated by financial attitude

“…The results of this study support previous research conducted by Manurung et al (2018), which states that financial literacy, including financial knowledge, affects investment intention or interest. However, the results of this study contradict the previous research conducted by Hamid et al (2019) and Claudia and MN (2019), which in their conclusion state that financial knowledge does not affect investment intention.…”

“…The Effect of Financial Knowledge on Investment Intention Lim et al (2018); Manurung et al (2018) Significantly Positive There are contradictions in research results Hamid et al (2019) No significant effect The Effect of Financial Well-Being on Investment Intention Kabir et al, (2011); Guiso & Sodini, 2013 Take effect There are contradictions in research results Sivaramakrishnan et al, (2017); Sivaramakrishnan dan Srivastava (2019) No effect Source: Data processed, 2021…”

“…A study conducted by Lim et al (2018); Manurung et al (2018) suggests that financial knowledge significantly affects investment intention. In addition, Hamid et al (2019) said that financial knowledge had no significant effect on investment intention. So, in this case, there is a contradiction in the research results, which becomes a research gap about the influence of financial knowledge on investment intention.…”

Determinan Minat Mahasiswa Berinvestasi Pada Pasar Modal

“…Aini et al (2019) meneliti pengaruh pengetahuan, pemahaman, modal investasi minimal, return investasi dan risiko investasi dengan menggunakan sampel mahasiswa Fakultas Ekonomi dan Bisnis Universitas Islam Malang dan Universitas Islam Negeri Maulana Malik Ibrahim menemukan bahwa hanya variabel risiko investasi yang berpengaruh terhadap minat investasi, sedangkan keempat variabel yang lain yaitu pengaruh pengetahuan, pemahaman, modal investasi minimal, return investasi tidak terbukti mempunyai pengaruh terhadap minat investasi mahasiswa. Sementara Hamid et al (2019) yang meneliti minat investasi dalam saham pada masyarakat Muslim di Kota Langsa, Aceh, pada tahun 2017 menemukan bukti bahwa pendapatan dan persepsi risiko mempunyai pengaruh signifikan terhadap minat berinvestasi, sedangkan pengetahuan investasi tidak terbukti mempengaruhi minat investasi terhadap saham. Hal ini mengindikasikan bahwa meskipun responden mempunyai pengetahuan yang cukup, tetapi mereka kurang berminat melakukan investasi dalam saham dikarenakan adanya kekhawatiran terhadap hasil yang tidak akan mencukupi kebutuhan sehari-hari sedangkan pendapatan mereka sendiri masih tergolong rendah.…”

The Intention of Investors in Making Investment Decisions in Sharia Stocks: Empirical Study in Indonesian

“…Knowledge and religious activities (religious behavior) of investors encourage all informants to choose instruments following sharia. Hamid et al (2019) examined Muslim investors' intention to invest in Langsa -Aceh stocks. The results showed that earnings and perceptions of risk influenced stock investment intentions.…”