FACTORS INFLUENCING THE INTENTION TO STOCK INVESTMENT AMONG MUSLIM INVESTORS IN LANGSA

Abdul Hamid, Ainun Mardhiah, Shelly Midesia

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.

Keywords


Investment Knowledge, Income, Risk Perception, Interest in Stock Investment

Full Text:

PDF

References


Arrow, K. (1971). Essays in the Theory of Risk-Bearing. Chicago: Markham Publishing Company.

Asba, M.Y.A. (2013). Pengaruh Pengetahuan Tentang Efek Syari’ah Terhadap Motivasi Berinvestasi di Pasar Modal Syariah (Studi Kasus di Fakultas Syari’ah dan Ekonomi Islam IAIN Walisongo Semarang), eprints, Walisongo, h.12, 41, dan 48. http://eprints.walisongo.ac.id/1803/3/092411092_Bab2.pdf, accessed on December 1, 2017.

Benzoni, Luca dan Chyruk. (2009). Investing Over The Life Cycle with Long-run Labor Income Risk. Federal Reserve Bank of Chicago. Economic Perspectives Journal:29-43.

Cardak, B. A dan Wilkins, R. (2009). The Determinants of Household Risky Asset Holdings: Australian Evidence on Background Risk and Other Factors. Journal of Banking and Finance. 33: 850-860.

Daily, Investor. (2011). Memberikan Pencerahan Kepada Investor Saham. Accessed February 15, 2017 through [http://www.investor.co.id/home/memberi-pencerahan-kepada-investor-saham/6357].

Ghozali, Imam. (2009). Aplikasi Analisis Multivariate dengan Program SPSS. Semarang: Badan Penerbit UNDIP.

Gujarati, Damodar N. (2006). Dasar-dasar Ekonometrika. Jilid 1. Edisi Ketiga. Jakarta: Erlangga.

Hair, J.F., Anderson, R.E., Tatham, R.L., dan Black, W.C. (1998). Multivariate Data Analysis. New Jersey: Prentice-Hall.

Halim, Abdul. (2005). Analisis Investasi. Jakarta: Salemba Empat.

Ibrahim, A., & Kamri, N. A. (2013). Measuring the Islamic Work Ethics: An Alternative Approach. In N. A. Kamri, A. Madun, & S. Sarif (Eds.), Islamic Perspective on Management: Contemporary Issues (pp. 135-163). Kuala Lumpur, Malaysia: YaPEIM Management Academy & Dept. of Shariah and Management, Acad. of Islamic Studies, University of Malaya.

Merawati, Luh Komangdan I Putu Mega JuliSemara Putra. (2015). Kemampuan Pelatihan Pasar Modal Memoderasi Pengaruh Pengetahuan Investasi Dan Penghasilan Pada Minat Berinvestasi Mahasiswa. Jurnal Ilmiah Akuntansi dan Bisnis. Vol. 10: 105-118.

Nurmayanti. (2019). OJK Kembali Hentikan Layanan 43 Investasi Ilegal. Accessed July 15, 2019 through [https://www.liputan6.com/bisnis/read/4004132/ojk-kembali-hentikan-layanan-43-investasi-ilegal? related=dable&medium=dable__desktop&campaign=related_click_2&utm_expid=.9Z4i5ypGQeGiS].

Pajar, Rizki Chaerul dan Adeng Pustikaningsih. (2017). Pengaruh Motivasi Investasi dan Pengetahuan Investasi terhadap Minat Investasi di Pasar Modal pada Mahasiswa FE UNY. Jurnal Profita. Edisi 1: 1-16.

Priyatno, Dwi. (2008). Mandiri Belajar SPSS. Yogyakarta: Mediakom.

Putra, Dwi Aditya. (2018). OJK Tindak 11 Kasus Penipuan Investasi Berkedok Koperasi. Accessed July 15, 2019 through [https://www.liputan6.com/bisnis/read/3799067/ojk-tindak-11-kasus-penipuan-investasi-berkedok-koperasi?related=dable&utm_expid=.9Z4i5ypGQeGiS7w9arwTvQ.1&utm_referrer=https%3A%2F%2Fwww.google.com%2F].

Raditya, Daniel. (2013). Pengaruh Modal Investasi Minimal di BNI Sekuritas, Return dan Persepsi Terhadap Risiko Pada Minat Investasi Mahasiswa dengan Penghasilan Sebagai Variabel Moderasi. Tesis Magister Akuntansi. Bandung: Universitas Udayana.

Reksoprayitno, Soediyono. (2009). Pengantar Ekonomi Makro. Edisi 6. Yogyakarta: BPFE.

Rooij, Marten Van, Annamaria Lusardi dan Rob Alessie. (2007). Financial Literacy and Stock Market Participation. Universiteit Utrecht: Utrecht School of Economics.

Salim, Peter dan Yeny Salim. (1996). Kamus Bahasa Indonesia Kontemporer. Jakarta: Modern English Press.

Salomons, R. and Grootveld, H. (2003). The Equity Risk Premium: Emerging Versus Developed Markets. Emerging Markets Review.

Saneyoshi, Yumio. (2001). Employee Behavior and Company Stock Ownership. Cambridge: Harvard University.

Shum, P. dan Faig, M. (2005). What Explains Households Stock Holdings? Journal of Banking and Finance.30: 2579-2597.

Slovic, P. (1992). Perception of Risk: Reflection on the Psycometric Paradigm. Dalam S. Krimsky and D. Golding (Eds), Social Theories of Risk (pp.117-152). Westport, CT: Praeger.

Triwijayati, Anna dan Yulius Koesworo. (2006). Studi Sikap dan Niat Konsumsi Jamu Pahitan di Surabaya. Jurnal Widya Manajemen dan Akuntansi. Volume 6. No 1: 17-41.

Utama, Chyntia Afriani. (2011). Upaya Peningkatan Peran Masyarakat Indonesia dalam Berinvestasi di Pasar Modal. Proposal Riset 2011.

Yuwono, Supriya Raharja. (2011). Pengaruh Karakteristik Investor Terhadap Besaran Minat Investasi Saham di Pasar Modal. Tesis Magister Manajemen. Jakarta: Universitas Indonesia.




DOI: http://dx.doi.org/10.22373/share.v8i2.4679

Article Metrics

Abstract view : 0 times
PDF - 0 times

Copyright (c) 2019 SHARE: Jurnal Ekonomi dan Keuangan Islam

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Welcome to SHARE Jurnal Ekonomi dan Keuangan Islam Open Journal System. Thank you very much for Visiting.