E-Jurnal Akuntansi
Vol. 34 No. 11 (2024)

The Concept of Rwa Bhineda on Investment Interest in Green Sukuk by Considering Environmental Awareness

Ni Nyoman Sri Rahayu Trisna Dewi (Faculty of Economics and Business, Universitas Udayana, Indonesia)
Gusti Ayu Putu Eka Dewi Prihantari (Faculty of Economics and Business, Universitas Udayana, Indonesia)



Article Info

Publish Date
18 Oct 2026

Abstract

Green sukuk is a sharia-based financial instrument used by the government to financegreen projects. The number of green sukuk investors has continuously increased sincethe beginning of the green sukuk issuance, in 2019. This is inseparable from theattractive profit sharing and very low risk. In the Hindu concept, the term RwaBhineda is known, which emphasises the existence of two things that arecontradictory but always side by side, as is the case with profit sharing and risk ingreen sukuk. This research aims to examine the effect of profit sharing and riskpartially on investment interest in green sukuk and examine the moderating effect ofenvironmental awareness. The population used is all green sukuk investors with asample size of 100 green sukuk investors. The data collection method uses aquestionnaire. The data analysis technique used is Structural Equation Modeling withPartial Least Squares (SEM PLS). The results showed that profit sharing andenvironmental awareness has a positive and significant effect on green sukukinvestment interest, risk has no effect on investment interest, environmentalawareness weakens the effect of profit sharing on investment interest in green sukukwith negative direction but environmental awareness is not able to moderate theeffect of risk on investment interest in green sukuk. This research combines theconcept of sharia in Islam and the concept of rwa bhineda in Hinduism, making itinteresting to do research.

Copyrights © 2024






Journal Info

Abbrev

akuntansi

Publisher

Subject

Economics, Econometrics & Finance

Description

E-JURNAL AKUNTANSI (EJA) E-Jurnal Akuntansi [e-ISSN 2302-8556] is an electronic scientific journal published online once a month. E-journal aims to improve the quality of science and channel the interest of sharing and dissemination of knowledge for scholars, students, practitioners, and the ...