DefinePK

Abstract

This study aims to identify and analyze: (1) the influence of risk propensity on Islamic investment decisions, (2) the influence of risk attitude on Islamic investment decisions, (3) the influence of risk capacity on Islamic investment decisions, (4) the influence of risk knowledge on Islamic investment decisions, (5) the influence of financial literacy on Islamic investment decisions, (6) the moderating role of religiosity on the relationship between risk propensity and Islamic investment decisions, (7) the moderating role of religiosity on the relationship between risk attitude and Islamic investment decisions, (8) the moderating role of religiosity on the relationship between risk capacity and Islamic investment decisions, (9) the moderating role of religiosity on the relationship between risk knowledge and Islamic investment decisions, and (10) the moderating role of religiosity on the relationship between financial literacy and Islamic investment decisions. The object of this research is the influence of multidimensional risk and financial literacy on Islamic investment decisions moderated by religiosity among Islamic stock investors in Southeast Sulawesi Province. The population in this study includes all Islamic stock investors in Southeast Sulawesi Province, totaling 1,122 individuals, based on the directory of the Bank Indonesia Representative Office in Southeast Sulawesi. The sample consists of 295 respondents selected using probability sampling techniques based on specific criteria. Data collection was conducted through online questionnaires, and the analysis tool used was SEM-PLS version 3.0. The results of the study show that: (1) risk propensity has a positive and significant effect on Islamic investment decisions, (2) risk attitude has a positive but not significant effect on Islamic investment decisions, (3) risk capacity has a positive and significant effect on Islamic investment decisions, (4) risk knowledge has a positive and significant effect on Islamic investment decisions, (5) financial literacy has a positive and significant effect on Islamic investment decisions, (6) religiosity does not moderate the influence of risk propensity on Islamic investment decisions, (7) religiosity does not moderate the influence of risk attitude on Islamic investment decisions, (8) religiosity moderates the influence of risk capacity on Islamic investment decisions, (9) religiosity does not moderate the influence of risk knowledge on Islamic investment decisions, and (10) religiosity does not moderate the influence of financial literacy on Islamic investment decisions