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Examining the Purchase Intentions of Indonesian Investors for Green Sukuk

Author

Listed:
  • Yudi Ahmad Faisal

    (Department of Management and Business, Universitas Padjadjaran, Bandung 40132, Indonesia)

  • Indra Gunawan

    (Hajj Fund Management Agency, Jakarta 12940, Indonesia)

  • Cupian

    (Department of Economics, Universitas Padjadjaran, Bandung 40132, Indonesia)

  • Amelia Hayati

    (Department of Economics, Universitas Padjadjaran, Bandung 40132, Indonesia)

  • Ardi Apriliadi

    (Faculty of Economics and Business, Universitas Padjadjaran, Bandung 40132, Indonesia)

  • Muhammad Fajri

    (Faculty of Economics and Business, Universitas Padjadjaran, Bandung 40132, Indonesia)

Abstract

The purpose of this paper is to investigate the impact of functional, social, emotional, religious, and knowledge values on customers’ intentions to purchase green sukuk (Islamic bonds) products. This study employs the Theory of Consumption Value (TCV) and analyzes data from a sample of 300 respondents using the Partial Least Squares Structural Equation Model (PLS-SEM). The results suggest that these values significantly influence the choice to purchase the products. The study is limited to the western area of Indonesia, one of the most populated and dominated economic powers in the country, and focuses specifically on green sukuk using TCV. Nevertheless, it provides valuable insights for understanding the determinants that stimulate potential investors in purchasing green financial products in Islamic finance industry, which has emerged as an important element in the country’s economic engines.

Suggested Citation

  • Yudi Ahmad Faisal & Indra Gunawan & Cupian & Amelia Hayati & Ardi Apriliadi & Muhammad Fajri, 2023. "Examining the Purchase Intentions of Indonesian Investors for Green Sukuk," Sustainability, MDPI, vol. 15(9), pages 1-12, April.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:9:p:7430-:d:1137234
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    References listed on IDEAS

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    4. Donato Morea & Luigi Antonio Poggi, 2017. "An Innovative Model for the Sustainability of Investments in the Wind Energy Sector: The Use of Green Sukuk in an Italian Case Study," International Journal of Energy Economics and Policy, Econjournals, vol. 7(2), pages 53-60.
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    7. Suren Basov & M. Ishaq Bhatti, 2016. "Islamic Finance in the Light of Modern Economic Theory," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-137-28662-8, February.
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    Cited by:

    1. Syamsi Mustofa Singgih Prayogo & Aji Raditya & Adel Sarea, 2024. "A Bibliometric analysis of green sukuk literature," Review of Islamic Social Finance and Entrepreneurship, Center for Islamic Economics and Development Studies [P3EI], vol. 3(2), pages 184-198.

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