This study aims to explore the role of attitude in influencing perceived trust and religiosity on investment decisions in Sharia-compliant stocks in young investors. This research’s results will provide investors insight into investing their money.
Data was collected on young investors who invested their money in Sharia stock in Indonesia. The data collection technique uses purposive sampling. The data collected was 196 using a Likert scale (1–5). The analytical tool used in this study is structural equation modeling.
The first finding reveals that attitude has a significant influence on investment decisions in Sharia-compliant stocks. The second finding shows that religiosity has a significant effect on attitude. The third finding shows that religiosity significantly affects investment decisions in Sharia-compliant stocks. The fourth finding shows that perceived trust has a significant effect on attitude. The fifth finding shows that perceived trust does not significantly affect investment decisions in Sharia-compliant stocks. The sixth finding shows that attitude plays a mediating role in the influence of perceived trust on investment decisions in Sharia-compliant stocks. The seventh finding shows that attitude mediates the influence of religiosity on investment decisions in Sharia-compliant stocks.
This research only focuses on the Special Region of Yogyakarta, so the generalization is still limited. Future research can expand the scope of the research area and modify this research model by adding new variables to test the moderating effect on each relationship within this research model, thereby providing a more comprehensive explanation of research phenomena related to investment decisions in Sharia-compliant stocks.
Islamic investment practices need to focus on education to shape positive public attitudes, increase transparency in Islamic investment products and strengthen the role of religiosity in motivating investment decisions in Sharia-compliant stocks in young investors. This will expand financial inclusion and strengthen the Islamic investment culture in Indonesia, driving the growth of the Islamic capital market.
This study offers an original contribution by thoroughly examining investment decision-making behavior in Sharia-compliant stocks among young investors, a topic that has been relatively under-researched. The study presents a new perspective on the role of trust and religiosity in shaping attitudes and investment decisions in Sharia-compliant stocks, in accordance with Islamic values.
