Maulana Farizi
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Digitalization of the Economy and the Cultural Impact of Consumption in Modern Society: A Review from Al-Syaibanī’s Perspective Syamsuri Syamsuri; Maulana Farizi; Husnul Khotimah
Dinar : Jurnal Ekonomi dan Keuangan Islam Vol 9, No 2: Agustus 2022
Publisher : Universitas Trunojoyo Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/dinar.v9i2.17918

Abstract

This study investigated the role of economic digitalization in increasing consumerism in modern society. Consumption issues have arisen along with the prevalence of digital advancement. Despite this trend, modern society continues to impose consumption limits based on one's income or possessions. Thus, this research will answer the consumption issues under the Islamic view according to Imam Al-Syaibani. This study is a descriptive-explanatory qualitative approach to examine consumerism in the context of economic digitalization. To that end, researchers conducted a review of relevant written materials to elucidate contemporary society's consumption issues, which stem from the current trend of digital economy sophistication. The study findings indicate that the prevalence of the digital economy in modern society engenders consumption patterns that impede social welfare, owing to its promotional services, support systems, and lenient credit policies. This is contrary to Islamic principles, as the consumption aspect is based on the benefit of maqashid Al-syariah. Imam Al-Syaibani is one of the economic leaders who has spoken about consumption. Al-Kasb Book discusses the hierarchy of consumption namely Fardl ‘āyn, Mandūb, and Mūba. To reflect, it is possible to address the social problem in modern society using the concept presented.
Exploring The Missing Link: Sociodemographic Factor, Investment Knowledge and Behavioural Bias In Investment Decision Ahmad Syarif; Maulana Farizi; Irma Yuliani
Journal of Trends Economics and Accounting Research Vol 5 No 1 (2024): September 2024
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/jtear.v5i1.1517

Abstract

Investment plays a vital role in the financial planning of individuals. Generally, the investments typically employed in Indonesia are those associated with the capital market. The Indonesian capital market plays a pivotal role in promoting the country's economy and allowing the allocation of funds for businesses. An actual market crash in the Indonesian capital market resulted in a significant decline in share values. The current circumstances require a conversation about the importance of understanding the role of individual investors as vital contributors to investment decision-making in the market. Empirical research has demonstrated that the behavioural bias of individual investors during times of disruption is a significant element contributing to market declines in the capital market. This study examines the impact of investment knowledge and sociodemographic factors on investment decision-making, specifically focussing on behavioural bias. This research method is a quantitative approach by utilising a questionnaire to collect data from 150 investors who are part of the sharia investment community. The variables examined in this study encompass investment knowledge, behavioural bias, sociodemographic factor, and investment decisions.The study demonstrates that investment knowledge and behavioural biases have a substantial impact on investment choices. Investment decisions are significantly influenced by sociodemographic characteristics. Investment decisions are significantly influenced by knowledge and sociodemographic characteristics. Behavioural bias has a role in influencing investment decisions in the disruptive period, by interacting with information and sociodemographic factors. In light of the ongoing era of rapid transformation and advancement, it is crucial for investors to promptly attain financial literacy, as knowledge pertaining to Islamic financial products is easily accessible. Stakeholders should establish an educational program focused on Islamic financial market literacy to improve knowledge and understanding of investing.