KEPUTUSAN MASYARAKAT MUSLIM BERINVESTASI SUKUK HIJAU SERI SUKUK TABUNGAN DALAM PERSPEKTIF SOSIAL KOGNITIF

    Muhammad Ja'far Alkhwarizmi, - and Aas Nurasyiah, - and Rumaisah Azizah Al Adawiyah, - (2025) KEPUTUSAN MASYARAKAT MUSLIM BERINVESTASI SUKUK HIJAU SERI SUKUK TABUNGAN DALAM PERSPEKTIF SOSIAL KOGNITIF. S1 thesis, Universitas Pendidikan Indonesia.

    Abstract

    Pemerintah Indonesia telah menerbitkan sukuk hijau melalui Sukuk Tabungan seri ST, namun partisipasi masyarakat Muslim masih rendah dibanding potensi pasar dan citra Indonesia yang dijuluki pionir sukuk hijau. Penelitian ini bertujuan menganalisis faktor sosial kognitif yang memengaruhi keputusan investasi pada sukuk hijau dengan landasan Social Cognitive Theory (SCT) Albert Bandura. Metode yang digunakan adalah kuantitatif dengan survei kuesioner daring dan analisis Partial Least Squares–Structural Equation Modeling (PLS-SEM). Penelitian ini relevan untuk mengkaji perilaku investasi masyarakat Muslim melalui perspektif sosial kognitif, sekaligus memberikan implikasi praktis bagi pemerintah dan industri keuangan syariah dalam mendorong partisipasi publik pada instrumen investasi syariah yang mendukung pembangunan berkelanjutan.Hasil penelitian menunjukkan bahwa efikasi diri, ekspektasi hasil, dan pengaruh sosial berpengaruh positif signifikan terhadap keputusan investasi, dengan ekspektasi hasil sebagai faktor paling dominan. Literasi keuangan syariah berperan sebagai moderator pada hubungan efikasi diri dan ekspektasi hasil, namun tidak pada pengaruh sosial. Secara keseluruhan, keputusan investasi masyarakat Muslim terhadap Sukuk Hijau seri ST dipengaruhi terutama oleh faktor psikologis dan sosial, serta menekankan pentingnya transparansi produk dan laporan alokasi aset untuk meningkatkan partisipasi publik pada instrumen investasi syariah berkelanjutan. The Government of Indonesia has issued green sukuk through the Sukuk Tabungan (ST) series; however, Muslim community participation remains relatively low compared to its market potential, despite Indonesia’s reputation as a pioneer in green sukuk. This study aims to analyze the social cognitive factors influencing investment decisions in green sukuk, using Albert Bandura’s Social Cognitive Theory (SCT) as the theoretical foundation. A quantitative method was employed, utilizing an online survey questionnaire and analyzed through Partial Least Squares–Structural Equation Modeling (PLS-SEM). This research is relevant for examining Muslim investors’ behavior from a social cognitive perspective while providing practical implications for policymakers and the Islamic finance industry in encouraging greater public participation in Sharia-compliant investment instruments that support sustainable development. The findings reveal that self efficacy, outcome expectations, and social influence have a positive and significant effect on investment decisions, with outcome expectations emerging as the most dominant factor. Furthermore, Islamic financial literacy moderates the relationship between self-efficacy and outcome expectations with investment decisions, but not social influence. Overall, Muslim investors’ decisions to invest in the Green Sukuk ST series are primarily shaped by psychological and social factors, underscoring the importance of product transparency and asset allocation reporting to enhance public participation in sustainable Sharia-compliant investments.

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    Official URL: http://repository.upi.edu
    Item Type: Thesis (S1)
    Additional Information: https://scholar.google.com/citations?user=A-g-HtEAAAAJ&hl=en SINTA ID: 5994697 SINTA ID: 6722046
    Uncontrolled Keywords: Sukuk Hijau, Keputusan Investasi, Masyarakat Muslim, Kognitif Sosial. Green Sukuk, Investment Decision, Moeslim Community, Social Cognitive
    Subjects: H Social Sciences > HB Economic Theory
    L Education > L Education (General)
    Divisions: Fakultas Pendidikan Ekonomi dan Bisnis > Ilmu Ekonomi dan Keuangan Islam
    Depositing User: Muhammad Ja'far Alkhwarizmi
    Date Deposited: 14 Sep 2025 02:56
    Last Modified: 14 Sep 2025 02:56
    URI: http://repository.upi.edu/id/eprint/139025

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