ANALISIS MINAT INVESTOR SUKUK GENERASI Z TERHADAP SUKUK RITEL

Authors

  • Ferdiana Yuliantika Safitri Ilmu Ekonomi, Fakultas Ilmu Ekonomi, Ekonomi dan Bisnis, Universitas Brawijaya
  • Yenny Kornitasari

Keywords:

Investment, Sukuk, investor, Financial Literacy, investment risk, yield, Religiosity, Generation Z

Abstract

The global financial market in 2020 was weakened by the Covid-19 pandemic. Nevertheless, the interest on retail sukuk in Indonesia during the 2020-2021 period has increased, and Generation Z was the minor investor group of it. The objectives of this research are to identify and analyze the partial effects of financial literacy, knowledge about investment risk, yield rate, and religiosity on the interest of generation Z in Java to invest in retail sukuk and to identify factors with the most dominant effect of all. Using purposive sampling, 400 people regarded as Generation Z in Java were selected as the respondents. The data of this quantitative descriptive study were acquired from Likert-scaled questionnaires and analyzed using multiple linear regression. This research finds that financial literacy, knowledge about investment risk, yield rate, and religiosity partially have positive and significant effects on the interest of Generation Z in Java to invest in retail sukuk. Further, religiosity was found to be the most dominant factor affecting the interest of the said people to invest in retail sukuk.

References

Abdi, M. N., & Hidayat, M. (2016). Ana-lisis Pengaruh Faktor-Faktor Resiko Investasi terhadap Perusahaan Far-masi yang Listing di Bursa Efek In-donesia. Economix , 4. https://doi.org/http://dx.doi.org/10.17605/OSF.IO/P96KA

Abou-Youssef, M. M. H., Kortam, W., Abou-Aish, E., & El-Bassiouny, N. (2015). Effects of Religiosity on Consumer Attitudes toward Islamic Banking in Egypt. International Journal of Bank Marketing, 33(6), 786–807. https://doi.org/10.1108/IJBM-02-2015-0024

Ajzen, I. (2005). Attitudes, Personality and Behaviour (2nd ed.). Dorsey Press.

al Ghazali, I. (2002). Benang Tipis Antara Halal & Haram. Putra Pelajar.

Ali, E. R. A. E., Azman, S. M. M. S., Zain, N. R. M., Hassan, R., & Kassim, S. (2019). Potential Development of SRI Sukuk Models for Higher Learning Institutions in Malaysia based on Wakalah and Waqf.

Andrea, B., Gabriella, H. C., & Tímea, J. (2016). Y and Z Generations at Workplaces. Journal of Competitive-ness, 8(3), 90–106. https://doi.org/10.7441/joc.2016.03.06

Annur, C. M. (2022, October 31). Literasi dan Inklusi Keuangan Warga Indone-sia Meningkat pada 2022. Katadata Insight Center. https://databoks.katadata.co.id/datapublish/2022/10/31/literasi-dan-inklusi-keuangan-warga-indonesia-meningkat-pada-2022

APA. (2013). The Diagnostic and Statisti-cal Manual of Mental Disorders (5th ed.). American Psychiatric Associa-tion (APA).

Arianti, B. F. (2018). The Influence of Fi-nancial Literacy, Financial Behavior, and Income on Investment Decision. Economics and Accounting, 1, 1–10.

Ashidiqi, C., & Arundina, T. (2017). Indo-nesia Students’s Intention to Invest in Sukuk : Theory of Planned Behav-iour Approach. International Journal of Economic Research, 14(15). http:www.serialsjournal.com

Aviyah, E., & Farid, M. (2014). Religi-usitas, Kontrol Diri dan Kenakalan Remaja. Persona:Jurnal Psikologi Indonesia, 3(02). https://doi.org/10.30996/persona.v3i02.376

Baele, L., Farooq, M., & Ongena, S. (2014). Of Religion and Redemption: Evidence from Default on Islamic Loans. Journal of Banking & Fi-nance, 44, 141–159. https://doi.org/10.1016/j.jbankfin.2014.03.005

Bank Indonesia. (2020a). Bab 1 Krisis Ke-manusiaan Covid-19 dan Im-plikasinya pada Tatanan Perekonomian Global.

Bank Indonesia. (2020b). Keuangan Inklusif. Bank Indonesia. https://www.bi.go.id/id/fungsi-utama/stabilitas-sistem-keuangan/keuangan-inklusif/default.aspx

Bank Indonesia. (2020c). Pasar Keuangan. Bank Indonesia.

Bareksa. (2020a). Tiga Risiko Investasi di Sukuk Ritel SR012. Bareksa. https://www.bareksa.com/berita/sbn/2020-01-25/tiga-risiko-investasi-di-sukuk-ritel-sr012

Bareksa. (2020b, February 24). Sukuk Ritel SR012 Gunakan Akad Ijarah Asset to Be Leased, Apa Maksudnya? Ba-reksa. https://www.bareksa.com/berita/sbn/2020-02-24/sukuk-ritel-sr012-gunakan-akad-ijarah-asset-to-be-leased-apa-maksudnya

Bayu, D. J. (2021, January 30). Indonesia Didominasi Milenial dan Generasi Z. Katadata Indonesia. https://katadata.co.id/ariayudhistira/infografik/6014cb89a6eb7/indonesia-didominasi-milenial-dan-generasi-z

Bennett, M. S., & Iqbal, Z. (2013). How Socially Responsible Investing Can Help Bridge The Gap Between Islam-ic and Conventional Financial Mar-kets. International Journal of Islamic and Middle Eastern Finance and Management, 6(3). www.emeraldinsight.com/1753-8394.htm.

Bibit. (2021, September 22). 8 Perbedaan Pasar Uang Dan Pasar Modal. Bibit. https://artikel.bibit.id/investasi1/8-perbedaan-pasar-uang-dan-pasar-modal

Bodie, Z., Kane, A., & Marcus, A. (2014a). Investments (5th Edition) Interna-tional Edition (10th ed.). McGraw-Hill Education.

Bodie, Z., Kane, A., & Marcus, A. J. (2014b). Manajemen Portofolio dan Investasi (Ed.9). Salemba Empat - McGraw-Hill Companies.

Bursztyn, L., Fiorin, S., Gottlieb, D., & Kanz, M. (2015). Moral Incentives: Experimental Evidence from Repay-ments of an Islamic Credit Card. The World Bank. https://doi.org/10.1596/1813-9450-7420

Cakir, S., & Raei, F. (2007). Sukuk vs. Eu-robonds: Is There a Difference in Value-at-Risk?; Selim Cakir and Fa-ezeh Raei; IMF Working Paper 07/237; October 1, 2007.

Cambridge Dictionary. (2019). Investor. Cambridge University. https://dictionary.cambridge.org/us/dictionary/english/investor

Christanti, N., & Ariany Mahastanti, L. (2011). Faktor – Faktor yang Mem-pertimbangkan Investor dalam Melakukan Investasi. Jurnal Mana-jemen Teori Dan Terapan | Tahun, 4(3).

Darmawan, A., Kurnia, K., & Rejeki, S. (2019). Pengetahuan Investasi, Moti-vasi Investasi, Literasi Keuangan dan Lingkungan Keluarga Pengaruhnya Terhadap Minat Investasi di Pasar Modal. Jurnal Ilmiah Akuntansi Dan Keuangan, 8(2), 44–56. https://doi.org/10.32639/jiak.v8i2.297

Delphia, R. (2022, July 6). 60 Persen Gen Z Memiliki Indeks Literasi Digital Tinggi. Katadata Insight Center. https://databoks.katadata.co.id/datapublish/2022/07/06/60-persen-gen-z-memiliki-indeks-literasi-digital-tinggi

Djuwitaningsih, E. W. (2018). Perubahan Perilaku Konsumtif dan Gaya Hidup Tenaga Kerja Wanita (TKW) Purna. ARISTO, 7(1), 01. https://doi.org/10.24269/ars.v7i1.1284

Duqi, A., & Al-Tamimi, H. (2019). Factors affecting investors’ decision regard-ing investment in Islamic Sukuk. Qualitative Research in Financial Markets, 11(1), 60–72. https://doi.org/10.1108/QRFM-01-2018-0009

Fadzlurrahman, F., & Abubakar, L. (2019). Pengalokasian Risiko dalam Pem-biayaan Proyek Berbasis Sukuk Guna Mewujudkan Kemudahan Be-rusaha. Jurnal Jurisprudence, 9(2), 133–148. https://doi.org/10.23917/jurisprudence.v9i2.8073

Fitriati, R., & Fathurahman, H. (2013). Comparative Analysis of Return on Sukuk and Conventional Bonds. American Journal of Economics, 2013(3), 159–163. https://doi.org/10.5923/j.economics.20130303.05

Ghozali, I. (2016). Aplikasi Analisis Multi-variete Dengan Program IBM SPSS 23 (8th ed.). Badan Penerbit Univer-sitas Diponegoro.

Ghozali, I. (2018). Aplikasi Analisis Multi-variate Dengan Program IBM SPSS 25 (9th ed.). Badan Penerbit Univer-sitas Diponegoro.

Godlewski, C. J., Turk-Ariss, R., & Weill, L. (2013). Sukuk vs. conventional bonds: A stock market perspective. Journal of Comparative Economics, 41(3), 745–761. https://doi.org/10.1016/j.jce.2013.02.006

Guiso, L., Sapienza, P., & Zingales, L. (2003). People’s Opium? Religion and Economic Attitudes. Journal of Monetary Economics, 50(1), 225–282. https://doi.org/10.1016/S0304-3932(02)00202-7

Gunawan, A. (2019, April 14). Mohon Maaf Pak Kyai, Sukuk RI Terbesar Dunia dari Sisi Mana? CNBC Indone-sia. https://www.cnbcindonesia.com/market/20190414192410-17-66637/mohon-maaf-pak-kyai-sukuk-ri-terbesar-dunia-dari-sisi-mana

Hair, J. F., Anderson, R. E., & Black, W. C. (2014). Multivariate Data Analysis (5th ed.). Pearson.

Hakim, L. L., & Asri, M. (2021). Per-bandingan Kinerja Bank Konven-sional dan Bank Syariah Sebelum dan Selama Pandemi Covid-19. Uni-versitas Gadjah Mada.

Hameed, W. U., Sabir, S. A., Razzaq, S., & Humanyon, A. A. (2018). The Influ-ence Of Behavioural Biases On In-vestment Decision Making: A Mod-erating Role Of Religiosity Among Pakistani Investors. International Journal of Management Research and Emerging Sciences, 8. https://doi.org/10.1186/s40497-018-0112

Hastini, L. Y., Fahmi, R., & Lukito, H. (2020). Apakah Pembelajaran Menggunakan Teknologi dapat Meningkatkan Literasi Manusia pada Generasi Z di Indonesia? Jurnal Ma-najemen Informatika (JAMIKA), 10(1), 25–26. https://doi.org/10.34010/jamika.v10i1

Hidayat, A. A. N. (2020, August 4). 85 Per-sen Konsumen E-commerce Berasal dari Generasi Z dan Milenial. Tempo, 1. https://bisnis.tempo.co/read/1372514/85-persen-konsumen-e-commerce-berasal-dari-generasi-z-dan-milenial

Hussain, T., & Khalil, M. N. (2019). Sha-ri‘ah Issues in Islamic Capital Mar-kets of Pakistan:A Case Study of Sukūk. Journal of Islamic Thought and Civilization, 09(01), 89–105. https://doi.org/10.32350/jitc.91.06

IDX Islamic. (2019). Surat Berharga Sya-riah Negara. IDX Islamic. https://idxislamic.idx.co.id/edukasi-pasar-modal-syariah/sukuk-negara/

IDX Islamic. (2021). Pasar Modal Syariah. IDX Islamic. https://idxislamic.idx.co.id/edukasi-pasar-modal-syariah/pasar-modal-syariah/

IDX Syariah. (2018). Produk Syariah. Bur-sa Efek Indonesia. https://www.idx.co.id/id/idx-syariah/produk-syariah

Jamaldeen, F. (2012). Islamic Finance For Dummies (1st ed.). Wiley. https://www.perlego.com/book/1014498/islamic-finance-for-dummies-pdf

Jobst, A., Kunzel, P., Mills, P., & Sy, A. (2008). Islamic Bond Issuance-What Sovereign Debt Managers Need to Know. International Journal of Is-lamic and Middle Eastern Finance and Management, 1(4), 330–344.

Keister, L. A. (2003a). Religion and Wealth: The Role of Religious Affili-ation and Participation in Early Adult Asset Accumulation. Social Forces, 82(1), 173–205.

Keister, L. A. (2003b). Religion and Wealth: The Role of Religious Affili-ation and Participation in Early Adult Asset Accumulation. Social Forces, 82(1), 173–205.

Kemendikbud. (2017a). Materi Pendukung Literasi Finansial. https://gln.kemdikbud.go.id/glnsite/wp-content/uploads/2017/10/literasi-FINANSIAL.pdf

Kemendikbud. (2017b). Materi Pendukung Literasi Finansial. Kementerian Pen-didikan dan Kebudayaan.

Kementerian Keuangan. (2020). Di Masa Pandemi, Masyarakat Masih Minati SR013. Kementerian Keuangan. https://keuangansyariah.mysharing.co/sukuk-ritel-sr013-tetap-diminati-masyarakat-meski-di-masa-pandemi/

Kementerian Keuangan. (2021a). Keu-angan Syariah Indonesia Tumbuh Positif di Tengah Pandemi. Kemen-terian Keuangan. https://www.kemenkeu.go.id/informasi-publik/publikasi/berita-utama/keuangan-syariah-indonesia-tumbuh-positif-di-tenga

Kementerian Keuangan. (2021b, September 20). Minat Investor Semakin Tinggi di Masa Pandemi, SR015 Sukses Mencatat Rekor Hasil Penjualan Terbesar Sepanjang Sejarah Pen-erbitan SBN Ritel Online. Direktorat Jenderal Pengelolaan Pembiayaan Dan Risiko Kementerian Keuangan. https://www.djppr.kemenkeu.go.id/minatinvestorsemakintinggidimasapan-demi,sr015suksesmencatatrekorhasilpenjualanterbesar

Khairiyati, C., & Krisnawati, A. (2019). Analisis Pengaruh Literasi Keuangan Terhadap Keputusan Investasi Pada Masyarakat Kota Bandung. Jurnal Manajemen Dan Bisnis, 3(2).

Krejcie, R. v., & Morgan, D. W. (2020). Determining Sample Size for Re-search Activities. Educational and Psychological Measurement, 30(3), 607–610. https://doi.org/10.1177/001316447003000308

Kumar, A., Page, J. K., & Spalt, O. G. (2011). Religious Beliefs, Gambling Attitudes, and Financial Market Out-comes. Journal of Financial Eco-nomics, 102(3), 671–708. https://doi.org/10.1016/j.jfineco.2011.07.001

Kusmawati. (2011). Pengaruh Motivasi ter-hadap Minat Berinvestasi di Pasar Modal dengan Pemahaman Investasi dan Usia sebagai Variabel Moderat. Jurnal Ekonomi Dan Informasi Akuntansi (JENIUS), 1(2).

Lo, C. W., & Leow, C. S. (2014). Islamic Banking in Malaysia: A Sustainable Growth of The Consumer Market. In-ternational Journal of Trade, Eco-nomics and Finance, 5(6), 526–529. https://doi.org/10.7763/ijtef.2014.v5.427

Lopus, J. S., Amidjono, D. S., & Grimes, P. W. (2019). Improving Financial Lit-eracy of The Poor and Vulnerable in Indonesia: An Empirical Analysis. In-ternational Review of Economics Ed-ucation, 32. https://doi.org/10.1016/j.iree.2019.100168

Lusardi, A., Mitchell, O. S., & Curto, V. (2010). Financial Literacy among the Young: Evidence and Implications for Consumer Policy. The Journal of Consumer Affairs, 44(2), 358–380. http://www.pensionresearchcouncil.org/boettner

Machmud, A. (2016). Perekonomian Indo-nesia: Pasca Reformasi/Amir Machmud. Gelora Bumi Aksara.

Malik, A. (2021a, January 15). Milenial, Ini Lima Keuntungan Investasi Sukuk Ritel dan Sukuk Tabungan. Bareksa. https://www.bareksa.com/berita/belajar-investasi/2021-01-15/milenial-ini-lima-keuntungan-investasi-sukuk-ritel-dan-sukuk-tabungan

Malik, A. (2021b, March 23). Sri Mulyani : Generasi Milenial Dominasi Investor ORI019 dan SR014. Bareksa. https://www.bareksa.com/berita/sbn/2021-03-23/sri-mulyani-generasi-milenial-dominasi-investor-ori019-dan-sr014

Malik, A. (2022a, August 22). Sukuk Ritel SR017 Pakai Akad Ijarah Asset to be Leased, Ini Penjelasannya. Bareksa. https://www.bareksa.com/berita/sbn/2022-08-22/sukuk-ritel-sr017-pakai-akad-ijarah-asset-to-be-leased-ini-penjelasannya

Malik, A. (2022b, September 21). SR017 Rekor Jumlah Investor Terbanyak Sepanjang Sejarah SBN Ritel, Ini 12 Catatan Pentingnya. Bareksa.

Mcmillen, M. J. T. (2007). Contractual En-forceability Issues: Sukuk and Capi-tal Markets Development. Chicago Journal of International Law, 7(2), 427–467. https://core.ac.uk/download/pdf/234117982.pdf

Modigliani, F., & Pogue, G. A. (1974). An Introduction to Risk and Return: Concepts and Evidence. Financial Analysts Journal, 30(2), 68–80.

Mohamad, S., Othman, J., Lehner, O., & Muda, R. (2017). Social Sukuk: A New Mechanism to Fund Social Ser-vices . Journal of Emerging Econo-mies and Islamic Research, 5. https://islamicmarkets.com/publications/social-sukuk-a-new-mechanism-to-fund-social-services

Mosaid, F. el, & Rachid Boutti, R. (2014). Sukuk and Bond Performance in Ma-laysia. International Journal of Eco-nomics and Finance, 6(2). https://doi.org/10.5539/ijef.v6n2p226

Najiyah, F. (2017). Pengaruh Nilai-Nilai Religiusitas Terhadap Loyalitas Kerja Agency Pada PT. Takaful Umum Cabang Surabaya. OECONOMICUS Journal Of Economics, 1(2).

Nandar, H., Rokan, M. K., & Ridwan, M. (2018). Faktor yang Mempengaruhi Minat Mahasiswa Berinvestasi di Pasar Modal Syariah Melalui Galeri Investasi Iain Zawiyah Cot Kala Langsa. Kitabah, 2(2).

Napoletano, E., & Curry, B. (2022, April 4). What Is Investing? How Can You Start Investing? Forbes. https://www.forbes.com/advisor/investing/what-is-investing/

Nasir, A., & Farooq, U. (2017). Analysis of Value at Risk of Sukuk and Conven-tional Bonds in Pakistan. Journal of Islamic Accounting and Business Re-search, 8(4), 375–388. https://doi.org/10.1108/JIABR-01-2014-0004

Nurhaliza, S. (2021). Ada Tiga Tipe Inves-tor Berdasarkan Profil Risiko, Kamu Yang Mana? https://www.idxchannel.com/market-news/ada-tiga-tipe-investor-berdasarkan-profil-risiko-kamu-yang-mana

Nurhidayat, D. (2022, February 26). Seba-ran Investor Sukuk Ritel Terkonsen-trasi di Jawa dan Sumatra. IDX, 1. https://www.idx.co.id/StaticData/NewsAndAnnounce-ment/ANNOUNCEMENTSTOCK/From_EREP/202203/54e6d18f6a_5167bd7556.pdf

OJK. (2013). Literasi Keuangan. https://www.ojk.go.id/id/kanal/edukasi-dan-perlindungan-konsumen/Pages/Literasi-Keuangan.aspx

OJK. (2019). Survei Nasional Literasi dan Inklusi Keuangan 2019. https://www.ojk.go.id/id/berita-dan-kegiatan/publikasi/Pages/Survei-Nasional-Literasi-dan-Inklusi-Keuangan-2019.aspx

OJK. (2020a). Laporan Triwulan-I 2020: Perkembangan Pasar Keuangan. https://ojk.go.id/id/data-dan-statistik/laporan-triwulanan/Documents/OJK%20-%20Laporan%20Triwulan%20I-2020.pdf

OJK. (2020b). Laporan Triwulan-II 2020: Perkembangan Pasar Keuangan. https://ojk.go.id/id/data-dan-statistik/laporan-triwu-lan-an/Documents/LAPORAN%20TRIWULAN%20II%202020.pdf

OJK. (2020c). Laporan Triwulan-III 2020: Perkembangan Pasar Keuangan. https://www.ojk.go.id/id/data-dan-statistik/laporan-triwu-lan-an/Documents/Laporan%20Triwulanan%20III%20-%202020.pdf

OJK. (2020d). Laporan Triwulan-IV 2020: Perkembangan Pasar Keuangan. https://www.ojk.go.id/id/data-dan-statistik/laporan-triwu-lan-an/Documents/LAPORAN%20TRIWULANAN%20IV-2020.pdf

OJK. (2020e). Mengenal Pasar Modal Syariah.

OJK. (2020f). Pasar Modal Syariah. Otori-tas Jasa Keuangan (OJK). https://www.ojk.go.id/id/kanal/pasar-modal/pages/syariah.aspx

OJK. (2020g). Pengelolaan Investasi. Otoritas Jasa Keuangan (OJK). https://www.ojk.go.id/id/kanal/pasar-modal/Pages/Pengelolaan-Investasi.aspx

OJK. (2020h). OJK Tingkatkan Inklusi Keuangan Percepat Pemulihan Ekonomi Nasional.

OJK. (2021a). Laporan Triwulan-I 2021: Perkembangan Pasar Keuangan. https://www.ojk.go.id/id/data-dan-statistik/laporan-triwu-lan-an/Documents/LAPORAN%20TRIWULAN%20I%20-%202021.pdf

OJK. (2021b). Laporan Triwulan-II 2021: Perkembangan Pasar Keuangan. https://www.ojk.go.id/id/data-dan-statistik/laporan-triwu-lan-an/Documents/LAPORAN%20TRIWULAN%20II-2021.pdf

OJK. (2021c). Laporan Triwulan-III 2021: Perkembangan Pasar Keuangan. https://www.ojk.go.id/id/data-dan-statistik/laporan-triwu-lan-an/Documents/LAPORAN%20TRIWULANAN%20III%20-%202021.pdf

OJK. (2021d). Laporan Triwulan-IV 2021: Perkembangan Pasar Keuangan. https://www.ojk.go.id/id/data-dan-statistik/laporan-triwu-lan-an/Documents/LAPORAN%20TRIWULANAN%20IV%20-%202021.pdf

OJK. (2022). Survei Nasional Literasi Dan Inklusi Keuangan Tahun 2022. https://www.ojk.go.id/id/berita-dan-kegiatan/siaran-pers/Documents/Pages/Survei-Nasional-Literasi-dan-Inklusi-Keuangan-Tahun-2022/SP%20-%20SURVEI%20NASIONAL%20LITERASI%20DAN%20INKLUSI%20KEU-ANGAN%20TAHUN%202022.pdf

Potrich, A. C. G., Mendes-Da-Silva, W., & Vieira, K. M. (2016). Development of A Financial Literacy Model for University Students. Management Research Review, 39(3). https://doi.org/10.1108/MMR-06-2014-0143

Pratama, A. O., Purba, K., Jamhur, J., Ba-yu, P., & Prasetyo, T. (2020). Pengaruh Faktor Perilaku Investor Saham Terhadap Keputusan Investasi di Bursa Efek Indonesia. Jurnal Akuntansi Dan Keuangan, 7(2). http://ejournal.bsi.ac.id/ejurnal/index.php/moneter

Priyastama, R. (2017). Buku Sakti Kuasai SPSS : Pengolahan Data & Analisis Data (Tari, 1st ed). START UP.

Priyatno, D. (2018). SPSS : Panduan Mu-dah Olah Data bagi Mahasiswa dan Umum (Giovanny). ANDI.

Pulungan, A. H. (2019). Pengaruh Religi-usitas dan Insentif Keuangan ter-hadap Intensi Melakukan Whistle-blowing pada Faith-Based Organiza-tion. Jurnal Ekonomi Dan Bisnis 5, 1, 6.

Purnamawati, I. (2015). Perbandingan Sukuk dan Obligasi (Telah dari Per-spektif Keuangan Dan Akuntansi). Jurnal Akuntansi Universitas Jember , 11(1), 62. https://doi.org/10.19184/jauj.v11i1.1261

Putra, I. P. S., Ananingtiyas, H., Sari, D. R., Dewi, A. S., & Silvy, M. (2016). Pengaruh Tingkat Literasi Keuangan, Exprienced Regret, dan Risk Toler-ance pada Pemilihan Jenis Investasi. Journal of Business & Banking, 5(2), 271. https://doi.org/10.14414/jbb.v5i2.707

Radoni, A., & Fathoni, M. A. (2019). Ma-najemen Investasi Syariah (M.Masykur, 1st ed). Salemba Dini-yah.

Rafki, M., Wiliasih, R., & Irfany, M. I. (2022). Faktor-Faktor yang Memen-garuhi Volume Perdagangan Sukuk Ritel SR-008 di Indonesia. Bukhori: Kajian Ekonomi Dan Keuangan Is-lam, 1(2), 95–117. https://doi.org/10.35912/bukhori.v1i2.1363

Rasuma Putri, N. M. D., & Rahyuda, H. (2017). Pengaruh Tingkat Financial Literacy dan Faktor Sosiodemografi terhadap Perilaku Keputusan Inves-tasi Individu. E-Jurnal Ekonomi Dan Bisnis Universitas Udayana, 3407. https://doi.org/10.24843/EEB.2017.v06.i09.p09

Riptiono, S. (2021). The Role of Affective Attitude as A Mediator Between Re-ligiosity and Purchase Intention on Is-lamic Bank. Islamic Economics, Fi-nance, and Banking Review, 1(1), 1–9. https://doi.org/10.12928/iefbr.v1i1.4739

Sanjaya, Y. C. A. (2022, September 16). Mengenal Generasi Z dan Karakteris-tiknya. Kompas.Com. https://lifestyle.kompas.com/read/2022/09/16/205141620/mengenal-generasi-z-dan-karakteristiknya?page=all

Saputra, D. (2018). Pengaruh Manfaat, Modal, Motivasi dan Edukasi Ter-hadap Minat Dalam Berinvestasi di Pasar Modal. Future Jurnal Mana-jemen Dan Akuntansi, 5(2), 190. www.jurnal.uniyap.ac.id/index.php.future

Sarah, A. P., & Beik, I. S. (2014). Analisis Faktor Yang Memengaruhi Minat In-vestor Terhadap Sukuk Negara Ritel. IPB University.

Sardiana, A. (2016). The Impact of Litera-cy to Shariah Financial Service Pref-erences. Etikonomi, 15(1), 43–62. https://doi.org/10.15408/etk.v15i1.3115

Scholtens, B., & Sievänen, R. (2013). Driv-ers of Socially Responsible Investing: A Case Study of Four Nordic Coun-tries. Journal of Business Ethics, 115(3), 605–616. https://doi.org/10.1007/s10551-012-1410-7

Segara, T. (2021, March 26). Sehat Keu-angan di Masa Pandemi. Sehat Keu-angan Di Masa Pandemi. https://news.unair.ac.id/2021/03/26/dewan-komisioner-ojk-literasi-keuangan-milenial-rendah/?lang=id

Sembiring, L. J. (2020, March 24). Bingung Semua Investasi Ambles, Milenial Berburu Sukuk Ritel. Kementerian Keuangan. https://www.cnbcindonesia.com/investment/20200324093851-21-147139/bingung-semua-investasi-ambles-milenial-berburu-sukuk-ritel

Siamat, D. (2010). Tanya Jawab Surat Berharga Syariah Negara / Sukuk Negara. https://www.academia.edu/16124262/Buku_Tanya_Jawab_SBSN_Edisi_Kedua_2010

Situmorang, M., & Natariasari, R. (2014). Effect of Motivation towards Invest-ment Interest In Stock Market with Investment Knowledge and Age as Moderating Variable. Jom Fekon, 1(2).

Soemitra, A. (2016). Bank dan Lembaga Keuangan Syariah (2nd ed). Kencana.

Souiden, N., & Rani, M. (2015). Consumer Attitudes and Purchase Intentions to-ward Islamic Banks: The Influence of Religiosity. International Journal of Bank Marketing, 33(2), 143–161. https://doi.org/10.1108/IJBM-10-2013-0115

Spagnuolo, E. (2020). The Spending Habits Of Gen-Z. https://www.ncr.com/green-house/articles/connecting-to-gen-z#gen-z-spending-habits

Stulz, R. M., & Williamson, R. (2003). Cul-ture, Openness, and Finance. Journal of Financial Economics, 70(3), 313–349. https://doi.org/10.1016/S0304-405X(03)00173-9

Sugianto, D. (2020, December 28). Lebih Parah dari Milenial, Gen Z Generasi Paling “Boros.” DetikFinance. https://finance.detik.com/berita-ekonomi-bisnis/d-5312779/lebih-parah-dari-milenial-gen-z-generasi-paling-boros

Sugiyono. (2019). Metode Penelitian Kuantitatif, Kualitatif & RND. Alfabeta.

Sulistyowati, A., Rianto, M. R., Handayani, M., & Bukhari, E. (2022). Pengaruh Financial Literacy, Return dan Resiko terhadap Keputusan Investasi Gen-erasi Milenial Islam di Kota Bekasi. Jurnal Ilmiah Ekonomi Islam, 8(2), 2253. https://doi.org/10.29040/jiei.v8i2.5956

Sutrisno. (2020). Meningkatkan Minat dan Hasil Belajar TIK Materi Topologi Jarinngan dengan Media Pembelaja-ran. Ahlimedia Book.

Tandelilin, E. (2010). Analisis Investasi dan Manajemen Keuangan Portofolio. BPFE.

Tandelilin, E. (2017). Pasar modal : mana-jemen portofolio & investasi / penu-lis, Prof. Dr. Eduardus Tandelilin, MBA, CWM, CSA; editor, Ganjar Sudibyo (G. Sudibyo, Ed.; pp. 633–641). PT Kanisius.

Tandio, T., & Widanaputra, A. A. G. P. (2016). Pengaruh Pelatihan Pasar Modal, Return, Persepsi Risiko, Gen-der, dan Kemajuan. Akuntansi Uni-versitas Udayana, 16(3).

Thaha, H., & Rustan, D. E. (2017). Orien-tasi Religiusitas dan Efikasi Diri da-lam Hubungannya dengan Keber-maknaan Pendidikan Agama Islam pada Mahasiswa IAIN Palopo. Jurnal Studi Agama Dan Masyarakat, 13(2). http://clearinghouse.missouriwestern.-edu/manuscripts/172.php.

The Economics Times. (2022, September 27). What is “Investment Risk.” The Economics Times. https://economictimes.indiatimes.com/definition/investment-risk

The World Bank. (2018). Helping Malaysia develop the green sukuk market. https://thedocs.worldbank.org/en/doc/514801523545420821-0340022018/original/casestudyfinancialproductsmalay-sia2018GreenSukukMarketDevelopment.pdf

Wahyudi, S. T. (2016). Konsep dan Pen-erapan Ekonometrika Menggunakan Eviews. Rajawali Pers.

Warsame, M. H., & Ireri, E. M. (2016). Does The Theory of Planned Behav-iour (TPB) Matter in Sukuk Invest-ment Decisions? Journal of Behav-ioral and Experimental Finance, 12, 93–100. https://doi.org/10.1016/j.jbef.2016.10.002

Wiratmini, N. P. E. (2020, July 2). Pangsa Pasar Keuangan Syariah Per April 2020 Naik, Jadi 9,03 Persen. Bisnis.Com. https://finansial.bisnis.com/read/20200702/231/1260686/pangsa-pasar-keuangan-syariah-per-april-2020-naik-jadi-903-persen

Yulianti, N., & Silvy, M. (2013). Sikap Pengelolaan Keuangan dan Perilaku Perencanaan Investasi Keluarga di Surabaya. Journal of Business and Banking, 3(1), 57–68.

Yustisia, N. (2016, October 13). Teori Generasi. Perbanas Institute. https://dosen.perbanas.id/teori-generasi/

Downloads

Published

2023-08-25

Issue

Section

Articles