Examining the Purchase Intentions of Indonesian Investors for Green Sukuk

Yudi Ahmad Faisal (), Indra Gunawan, Cupian, Amelia Hayati, Ardi Apriliadi and Muhammad Fajri
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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

Sustainability, 2023, vol. 15, issue 9, 1-12

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.

Keywords: functional value; social value; emotional value; religious value; knowledge value; purchase intention; green sukuk (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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