Do Women's Attitudes Matter in Acceptance of Islamic Microfinance? Evidence from Malaysia

Md Amirul Islam (), Muhammad Salah Uddin (), Seethaletchumy Thambiah (), Elsadig Ahmed and Md Abdur Rauf ()
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Md Amirul Islam: Multimedia University
Muhammad Salah Uddin: Sakarya University
Seethaletchumy Thambiah: Multimedia University
Md Abdur Rauf: Northern University Bangladesh

East Asian Economic Review, 2023, vol. 27, issue 1, 61-85

Abstract: The study aims to investigate the factors pursuing the women entrepreneurs to accept Islamic microfinance (IMF) in urban and rural areas of Malaysia. For this purpose, the study applies the Theory of Planned Behavior (TPB) and Innovation and Diffusion Theory to explain Islamic microfinance adoption. Using the structural equation model (SEM) with primary data collected from 384-woman entrepreneurs in Malaysia, the current study uses a 5-point Likert scale. On the basis of theory and collected data, the seven hypotheses are developed. All hypotheses are validated by both directly and indirectly, as well as through a mediating factor. Among the factors, knowledge about IMF and subjective norms significantly influence the acceptance of IMF. On the other hand, the perceived complexity does not show any substantial relationship to the acceptance of IMF. This outcome will be helpful in supporting policymakers, academics, and future studies and must take into account the supported factors. Therefore, the study contributes to develop an innovative framework, to create self-employment for women entrepreneurs.

Keywords: Women; Entrepreneurs; Microfinance; Malaysia; Islam (search for similar items in EconPapers)
JEL-codes: B26 G10 G21 L26 (search for similar items in EconPapers)
Date: 2023
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