Factors that Affecting Stocks Ownership on Islamic Household in Indonesia

ABSTRAK

Lingkungan rumah tangga keluarga merupakan tempat pertama kali kita menghadapi persoalan ekonomi. Ketidakpastian ekonomi di satu sisi meningkatkan permintaan akan perencanaan keuangan. Penelitian ini akan berfokus pada mencari tahu faktor-faktor mikro keluarga muslim di Indonesia yang dapat mempengaruhi keputusan investasi khususnya saham. Penelitian ini menerapkan metode kuantitatif dengan instrumen data sekunder Indonesia Family Life Survey (IFLS) gelombang 5. Teknik analisis data yang digunakan adalah analisis regresi probit, teknik analisis yang dilakukan dalam regresi probit meliputi; uji kelayakan model, analisis koefisien determinasi (R2), dan uji hipotesis. Berdasarkan hasil penelitian ditemukan bahwa variabel variabel jumlah keluarga, pinjaman, usia, dan status pernikahan tidak berpengaruh secara signifikan terhadap probabilitas kepemilikan saham. Adapun variabel pendapatan, tingkat pendidikan, jenis kelamin dan financial worship memiliki hubungan positif dan signifikan terhadap probabilitas kepemilikan saham pada keluarga muslim di Indonesia. Diharapkan penelitian ini dapat bermanfaat bagi Otoritas Jasa Keuangan dan Bursa Efek Indonesia sebagai informasi tambahan dan bahan pertimbangan dalam pembenahan kebijakan mengenai peningkatan literasi manajemen keuangan keluarga dan kesejahteraan masyarakat di Indonesia.

Kata Kunci: Kepemilikan Saham, Pendapatan, Tingkat Pendidikan, Jumlah Tanggungan Keluarga, Pinjaman, Usia, Jenis Kelamin, Status Pernikahan, Financial Worship.

ABSTRACT

The family home environment is the first place we face economic problems. Economic uncertainty on the one hand increases the demand for financial planning. This study will focus on finding out the micro factors of Muslim families in Indonesia that can influence investment decisions, especially stocks. This study applies quantitative methods with secondary data instruments Indonesia Family Life Survey (IFLS) wave 5 The data analysis technique used is probit regression analysis, the analysis techniques carried out in probit regression include; model feasibility test, analysis of the coefficient of determination (R2), and hypothesis testing. Based on the results of the study, it was found that the variables of family size, loan, age, and marital status did not significantly influence the probability of stock ownership. The variables of income, education level, gender and financial worship have a positive and significant relationship to the probability of stock ownership in Muslim families in Indonesia. It is hoped that this research can be useful for the Otoritas Jasa Keuangan and the Bursa Efek Indonesia as additional information and consideration in reforming policies regarding increasing literacy in family financial management and community welfare in Indonesia.

Keywords: Stock Ownership, Income, Education Level, Number of Dependents in the Family, Loans, Age, Gender, Marital Status, Financial Worship.

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