Factor loading and goodness-of-fit test
| Panel A: Factor loading from extraction | ||||||
|---|---|---|---|---|---|---|
| Items | Factor loading | Communalities | ||||
| 1 | 2 | 3 | 4 | 5 | ||
| SHCONIB | ||||||
| I am willing to accept some loss if the investment opportunity is Sharīʿah-compliant | 0.721 | 0.558 | ||||
| I have previously invested in Sharīʿah-compliant products that gave me less return than that of their conventional counterparts | 0.721 | 0.550 | ||||
| I have previously tried very hard to find Sharīʿah-compliant investment opportunities | 0.799 | 0.676 | ||||
| I have previously refused to invest in conventional investment products that offered me more return than that of their Sharīʿah-compliant counterparts | 0.738 | 0.574 | ||||
| I have prohibited my family members and friends from investing in financial instruments which are not Sharīʿah-compliant | 0.738 | 0.573 | ||||
| My investment habits are affected by my concern for Sharīʿah- compliance | 0.585 | 0.480 | ||||
| AWARE | ||||||
| I know about Ṣukūk | 0.793 | 0.678 | ||||
| I know the term “Sharīʿah-compliant investment” | 0.847 | 0.733 | ||||
| I know the term “Riba” | 0.638 | 0.516 | ||||
| SNL | ||||||
| Government and third-party guarantees are important for making investments in Ṣukūk | 0.586 | 0.472 | ||||
| Tenor of Ṣukūk is important | 0.877 | 0.793 | ||||
| Tradability of Ṣukūk is important | 0.854 | 0.767 | ||||
| SRIB | ||||||
| When there is an alternative available, I always choose the investment opportunity that contributes to economic development | 0.872 | 0.829 | ||||
| When there is an alternative available, I always choose the investment opportunity that plays role in achieving social equity | 0.878 | 0.859 | ||||
| RAT | ||||||
| I am concerned about the rating of the asset of Ṣukūk | 0.922 | 0.892 | ||||
| I am concerned about the rating of the Issuer of Ṣukūk | 0.915 | 0.883 | ||||
| Eigenvalues | 4.275 | 2.565 | 1.464 | 1.324 | 1.203 | |
| % of variance | 26.721 | 16.030 | 9.153 | 8.272 | 7.520 | |
| Cumulative % | 26.721 | 42.751 | 51.904 | 60.176 | 67.696 | |
| Panel A: Factor loading from extraction | ||||||
|---|---|---|---|---|---|---|
| Items | Factor loading | Communalities | ||||
| 1 | 2 | 3 | 4 | 5 | ||
| I am willing to accept some loss if the investment opportunity is Sharīʿah-compliant | 0.721 | 0.558 | ||||
| I have previously invested in Sharīʿah-compliant products that gave me less return than that of their conventional counterparts | 0.721 | 0.550 | ||||
| I have previously tried very hard to find Sharīʿah-compliant investment opportunities | 0.799 | 0.676 | ||||
| I have previously refused to invest in conventional investment products that offered me more return than that of their Sharīʿah-compliant counterparts | 0.738 | 0.574 | ||||
| I have prohibited my family members and friends from investing in financial instruments which are not Sharīʿah-compliant | 0.738 | 0.573 | ||||
| My investment habits are affected by my concern for Sharīʿah- compliance | 0.585 | 0.480 | ||||
| I know about Ṣukūk | 0.793 | 0.678 | ||||
| I know the term “Sharīʿah-compliant investment” | 0.847 | 0.733 | ||||
| I know the term “Riba” | 0.638 | 0.516 | ||||
| Government and third-party guarantees are important for making investments in Ṣukūk | 0.586 | 0.472 | ||||
| Tenor of Ṣukūk is important | 0.877 | 0.793 | ||||
| Tradability of Ṣukūk is important | 0.854 | 0.767 | ||||
| When there is an alternative available, I always choose the investment opportunity that contributes to economic development | 0.872 | 0.829 | ||||
| When there is an alternative available, I always choose the investment opportunity that plays role in achieving social equity | 0.878 | 0.859 | ||||
| I am concerned about the rating of the asset of Ṣukūk | 0.922 | 0.892 | ||||
| I am concerned about the rating of the Issuer of Ṣukūk | 0.915 | 0.883 | ||||
| Eigenvalues | 4.275 | 2.565 | 1.464 | 1.324 | 1.203 | |
| % of variance | 26.721 | 16.030 | 9.153 | 8.272 | 7.520 | |
| Cumulative % | 26.721 | 42.751 | 51.904 | 60.176 | 67.696 | |
| Panel B: Goodness-of-fit test | ||||||
|---|---|---|---|---|---|---|
| SHCONIB | AWARE | SNL | SRIB | RAT | ||
| Collinearity statistics (VIF) | 1.126 | 1.257 | 1.214 | 1.280 | 1.164 | |
| Durbin–Watson statistics | 2.008 | |||||
| R | 0.599 | |||||
| R2 | 0.358 | |||||
| Adjusted R2 | 0.345 | |||||
| F statistics | 26.707* | |||||
| Panel B: Goodness-of-fit test | ||||||
|---|---|---|---|---|---|---|
| SHCONIB | AWARE | SNL | SRIB | RAT | ||
| Collinearity statistics (VIF) | 1.126 | 1.257 | 1.214 | 1.280 | 1.164 | |
| Durbin–Watson statistics | 2.008 | |||||
| R | 0.599 | |||||
| 0.358 | ||||||
| Adjusted | 0.345 | |||||
| F statistics | 26.707* | |||||
Note(s):
Extraction Method: Principal Component Analysis
Rotation Method: Varimax with Kaiser Normalization
Loadings <0.40 are omitted for clarity
*indicates significance at 99% level of confidence
Source(s): Authors' findings
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