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What motivates retail investors to invest in government-issued digital sukuk during COVID-19?

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dc.contributor.authorSaeed Awadh Bin-Nashwan
dc.contributor.authorSherin Kunhibava
dc.contributor.authorAishath Muneeza
dc.date.accessioned2022-03-01T03:35:10Z
dc.date.available2022-03-01T03:35:10Z
dc.date.issued2022
dc.description.abstractTo analyse Sukuk Prihatin (SP), the first-ever retail digital sukuk issued by the Government of Malaysia in the midst of the COVID-19 pandemic, as part of the national economic recovery plan. The issuance of SP was oversubscribed, even upsized, resulting in the government announcing its intention to issue similar types of sukuk in the future. In light of this, the purpose of this study is to understand the motivation for retail investors to invest in SP. The purposive sampling method was applied via a self-administered survey, while the cross-sectional data were empirically tested using the SmartPLS 3.2.9 structural equation modelling. An integrated model of the theory of planned behaviour and social cognitive theories was used in determining investors' intention to invest in SP. The findings of this research revealed that attitude (ATT) towards SP investment (SPI), social norms (SN), perceived control (PBC) regarding SPI, sukuk features (SF), tax incentives (TI) and the spirit of unity and brotherhood (SUB) were significant determinants of investors' willingness to invest in SP. This research also provided evidence for significant national pride-moderated interactions of ATT, SN, PBC, SF, TI and digitisation on investment intention. The outcome of this study could assist governments and policymakers to structure sukuk and other debt-based capital market products to attract retail investors who would be willing to invest in the development of the nation in the midst of a crisis.en_US
dc.identifier.citationBin-Nashwan, S. A., Muneeza, A., & Kunhibava, S. (2022). What motivates retail investors to invest in government-issued digital sukuk during COVID-19? Journal of Islamic Accounting and Business Research, 13(3), 393-424. https://doi.org/10.1108/JIABR-12-2020-0387en_US
dc.identifier.doihttps://doi.org/10.1108/JIABR-12-2020-0387
dc.identifier.issn1759-0817
dc.identifier.urihttps://ikr.inceif.org/handle/INCEIF/3531
dc.languageEnglish
dc.language.isoengen_US
dc.publisherEmerald Publishing Limiteden_US
dc.rights2021. Emerald Publishing Limited
dc.sourceSEDONA
dc.subjectInvestment decisionen_US
dc.subjectBond marketen_US
dc.subjectCOVID-19en_US
dc.subjectDigital sukuken_US
dc.subjectRetail investoren_US
dc.subjectSukuk Prihatin (SP)en_US
dc.titleWhat motivates retail investors to invest in government-issued digital sukuk during COVID-19?en_US
dc.typeJournal Articleen_US
dlc.maintopicIslamic capital marketsen_US
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.topic.maintopicIslamic capital marketsen_US
relation.isAuthorOfPublication81014255-5cb8-46bc-ad81-bf6d8a3a0702
relation.isAuthorOfPublication81014255-5cb8-46bc-ad81-bf6d8a3a0702
relation.isAuthorOfPublication81014255-5cb8-46bc-ad81-bf6d8a3a0702
relation.isAuthorOfPublication.latestForDiscovery81014255-5cb8-46bc-ad81-bf6d8a3a0702
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