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Determinants of Sharia Stock Investment Decisions: The Role of Investment Interest and Financial Behavior Bastian, Adol; Aidil Novia; Meirison
LAA MAISYIR: Jurnal Ekonomi Islam Vol 12 No 1 (2025)
Publisher : Universitas Islam Negeri Alauddin Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24252/lamaisyir.v12i1.55324

Abstract

The significant increase in investor participation in the sharia capital market, especially among the younger generation, requires an understanding of the factors that influence investment decisions. This study aims to examine the effect of financial literacy, risk perception, and herding behavior on sharia stock investment decisions, with interest as a mediating variable and financial behavior as a moderating variable. The method used is a quantitative approach with primary data from 391 active investors of PT FAC Sekuritas Indonesia Jambi Branch. Sampling using purposive sampling, and analysis was carried out through SEM-PLS with SmartPLS 4. The results of the study indicate that financial literacy, risk perception, and herding behavior have a significant positive effect on investment interest. Interest fully mediates the relationship between financial literacy and risk perception on investment decisions. Conversely, the direct influence of both is not significant. Herding behavior also has a significant direct effect on investment decisions, but is partially mediated by interest. Financial behavior does not significantly moderate the tested relationship. These findings indicate that interest and social influence are more decisive in determining sharia investment decisions than rationality alone, so that the investor education approach needs to combine psychological and social aspects.
OPTIMALISASI KOMPETENSI MUJTAHID DALAM KERANGKA KAJIAN HUKUM ISLAM Sindia Ayu; Meirison; Salma
JAS : Jurnal Ahwal Syakhshiyyah Vol 6 No 1 (2024): Jurnal Ilmiah Ahwal Syakhshiyyah (JAS)
Publisher : Fakultas Agama Islam UNISMA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33474/jas.v6i1.21254

Abstract

Abstract A mujtahid is called a Muslim scholar or cleric who has the qualifications and expertise to carry out ijtihat, namely the process of interpreting Islamic law based on its sources. This research uses a qualitative descriptive research method with a focus on studying concepts and content through library research. This research aims to analyze mujtahid competence, classical and contemporary mujtahid requirements, and mujtahid rankings. This study examines the competence of a mujtahid in the context of understanding and applying sharia law in Islam. Mujtahid competency was found to require a deep understanding of various sources of Islamic law, such as the Al-Qur'an, hadith, ijma', qiyas, asbab al-nuzul, and maqashid sharia. In addition, the ability to recognize and differentiate between the tasyri'iyah sunnah and the tasyri'iyah ghairu sunnah and to avoid violations of ijma' is also needed. Islamic ethics and values are also an integral part of a mujtahid's competence, assisting in making appropriate legal decisions. This study emphasizes that the competence of a mujtahid is an important element in maintaining integrity and accuracy in the ijtihad process, which is important in carrying out his duties as a guardian of sharia law. The findings in this research are that a mujtahid must have in-depth knowledge, analytical skills, and high moral integrity to carry out his duties in understanding and applying sharia law correctly.   Keywords: Mujtahid, Ijtihad, contemporary, classic