Maharani Ayu Sakinah
Universitas Negeri Surabaya

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Pengaruh Literasi Keuangan Syariah, Persepsi Risiko, Social Media Influencer, dan Religiusitas terhadap Perilaku Investasi Reksa Dana Syariah pada Generasi Z Muslim di Surabaya Maharani Ayu Sakinah; Clarashinta Canggih
Jurnal Ilmiah Ekonomi Islam Vol. 12 No. 3 (2026): Jurnal Ilmiah Ekonomi Islam
Publisher : ITB AAS INDONESIA Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jiei.v12i3.19966

Abstract

This study is based on the number of Islamic mutual fund investors, which remains lower than that of conventional mutual fund investors, although it has shown a stable growth trend over the years. Generation Z, as the largest investor group in Indonesia, has characteristics closely tied to digital technology and social media that influence their investment behavior. This study seeks to examine the effect of Islamic financial literacy, risk perception, social media influencers, and religiosity on Islamic mutual fund investment behavior among Muslim Generation Z in Surabaya. The research employed a quantitative approach with an associative design. The study involved 200 respondents selected through purposive sampling, with the criteria being Muslim Generation Z individuals aged 17-28 years, residing in Surabaya, and having invested in or currently investing in Islamic mutual funds. The data analysis technique employed was Structural Equation Modeling-Partial Least Squares (SEM-PLS). The results indicate that Islamic financial literacy, social media influencers, and religiosity have a significant effect on Islamic mutual fund investment behavior. Meanwhile, risk perception does not affect Islamic mutual fund investment behavior.