JMK Jurnal Manajemen dan Kewirausahaan
Vol 11 No 3 (2026): September

Determinants of Security Crowdfunding Investment Intention: ESG Self-Efficacy, AML/CTF Knowledge, and Religiosity

Firdaus, Hanna Nisaur Rosyda (Unknown)
Harymawan, Iman (Unknown)
Novita, Santi (Unknown)



Article Info

Publish Date
09 Sep 2026

Abstract

This study examines the effects of ESG investing attitude, ESG investing self-efficacy, and Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) knowledge on investment intention among individual investors participating in security crowdfunding platforms in Indonesia, while also investigating the moderating role of religiosity. Using a quantitative approach, primary data were collected through a structured questionnaire from 100 respondents selected through purposive sampling. The data were analyzed using multiple regression and moderated regression analysis. The results indicate that ESG investing self-efficacy and AML/CTF knowledge positively and significantly influence investment intention. In contrast, ESG investing attitude has a positive but insignificant effect. Religiosity is positively associated with investment intention and strengthens the effects of ESG self-efficacy and AML/CTF knowledge; however, it does not significantly moderate the relationship between ESG investing attitude and investment intention. These findings highlight the importance of investor competence and regulatory literacy in promoting sustainable investment behavior within digital financial platforms.

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Journal Info

Abbrev

ManajemenKewirausahaan

Publisher

Subject

Economics, Econometrics & Finance

Description

Aims JMK (Jurnal Manajemen & Kewirausahaan) covers in details a large variety of topics in management. The aim of the journal is disseminate knowledge derived from the results of empirical research on organizations, people, systems, and events in the field of management and entrepreneurship. The ...