Title: Behaviour towards investments in Islamic capital market: an exploratory study

Authors: Mirna Indriani; Ratna Mulyany; Indayani

Addresses: Department of Accounting, Universitas Syiah Kuala, Banda Aceh, 23111, Indonesia ' Department of Accounting, Universitas Syiah Kuala, Banda Aceh, 23111, Indonesia ' Department of Accounting, Universitas Syiah Kuala, Banda Aceh, 23111, Indonesia

Abstract: This study aims to explore the behaviour of academicians in Indonesia towards investment in Islamic capital market (ICM). The concept of behaviour is analysed through the dimensions of the awareness and attitude. Four propositions were tested to identify whether there is any difference in the awareness and attitude based on demographic profiles and level of knowledge in ICM. The questionnaires were distributed with 280 responses were collected. Descriptive and non-parametric tests were performed to analyse the data. The findings uncovered relatively high level of awareness towards investment in ICM among the academicians yet their participation in the ICM activities is very limited. Religious motivation was found to be the main reason for investing. There was no difference in the awareness and attitude based on demographic factors. However there was significant difference in the attitude based on religion and awareness as well as attitude based on the level of knowledge about ICM.

Keywords: awareness; attitude; behaviour; investor; Islamic investment; capital market; religious motivation; Islamic capital market.

DOI: 10.1504/IJTGM.2020.111129

International Journal of Trade and Global Markets, 2020 Vol.13 No.4, pp.454 - 474

Received: 16 May 2019
Accepted: 07 Aug 2019
Published online: 10 Nov 2020 *

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