THE RELATIONSHIP BETWEEN ISLAMIC FINANCIAL LITERACY, FINANCIAL AVAILABILITY AND SHARIA INVESTMENT INTENTION MEDIATED BY SOCIAL MEDIA
Keywords:
Islamic financial literacy, financial availability, Sharia investment intention, social media, SEM-PLS.Abstract
Background: The growing interest in Sharia-compliant financial products underscores the need to understand the factors influencing Sharia investment intention. Islamic financial literacy and financial availability are key determinants, while social media plays a mediating role by enhancing financial education and investor confidence.
Purpose: This study examines the relationship between Islamic financial literacy, financial availability, and Sharia investment intention, emphasizing the mediating role of social media to understand how knowledge, resources, and digital engagement shape investment decisions.
Design/Methodology: A quantitative approach was adopted, utilizing data from 269 respondents, including current and potential customers of Mandiri Sharia Securities. Data were collected through an online structured questionnaire, and hypothesis testing was conducted using Structural Equation Model - Partial Least Square (SEM-PLS) to assess direct and mediated effects.
Findings: Islamic financial literacy significantly influences Sharia investment intention, while financial availability does not directly impact investment behavior. However, social media mediates the effects of both financial literacy and financial availability, highlighting its role in financial education and investor confidence.
Limitations: The study relies on self-reported data, which may introduce response bias. Additionally, its focus on a specific demographic may limit generalizability. Future research should explore cross-regional comparisons and consider factors such as risk perception and regulatory influences.
Originality/Value: This study integrates financial literacy, financial availability, and social media influence into a single model, providing insights for financial institutions, policymakers, and digital marketers seeking to enhance Sharia investment participation through financial education and digital engagement.
