Electronic Theses and Dissertation

Penelitian ini bertujuan untuk menguji niat reinvestasi di pasar modal syariah. pengujian dilakukan dengan mengukur pengaruh persepsi return dan risiko terhadap reinvestment intention, dengan keputusan investasi sebagai variabel mediasi. selain itu, penelitian ini juga mengkaji peran intergenerational sebagai variabel moderasi pada hubungan persepsi return dan risiko terhadap keputusan investasi. populasi dalam penelitian ini berjumlah 20.918 investor di pasar modal syariah. penarikan sampel dilakukan melalui metode purposive sampling dan dilanjutkan dengan metode proportioned stratified random sampling. responden pada penelitian ini terdiri dari 125 investor pasar modal syariah di kota banda aceh. teknik analisis menggunakan structural equation modelling (sem) amos. hasil penelitian menunjukkan bahwa persepsi return berpengaruh signifikan terhadap keputusan investasi, namun tidak berpengaruh terhadap reinvestment intention. sebaliknya, persepsi risiko tidak berpengaruh terhadap keputusan investasi, tetapi berpengaruh signifkan terhadap reinvestment intention. selain itu, keputusan investasi ditemukan berpengaruh signifikan terhadap reinvestment intention. penelitian juga menunjukkan keputusan investasi memediasi secara penuh pada hubungan persepsi return terhadap reinvestment intention. namun, tidak ditemukan pengaruh mediasi pada hubungan persepsi risiko terhadap reinvestment intention. adapun dalam hal moderasi, ditemukan bahwa intergenerational (baby boomer, x, y dan z) tidak memoderasi pengaruh persepsi return dan risiko terhadap keputusan investasi, koefisien negative membuktikan pengaruh persepsi return lebih lemah pada generasi x dan y dibandingkan baby boomer, sedangkan generasi z menujukkan pengaruh lebih kuat dibandingkan baby boomer. hasil penelitian menunjukkan pentingnya analisis mendalam terhadap persepsi return, serta investor perlu meningkatkan pemahaman dan evaluasi risiko secara menyeluruh. tidak ditemukannya pengaruh moderasi pada penelitian ini, mengindikasikan pengaruh persepsi return dan risiko bersifat konsisten di seluruh kelompok generasi tanpa memandang investor berasal dari generasi baby boomer, x, y, atau z.

This study aims at examining the intention to reinvest in the Islamic capital market. The examination is conducted by measuring the influence of return and risk perceptions on reinvestment intention, with investment decisions serving as a mediating variable. Additionally, this study also investigates the role of intergenerational variables as a moderating variable in the relationship between return and risk perceptions on investment decisions. The populations in this study, consist of 20,918 investors in the Islamic capital market. The sample was drawn by using a purposive sampling method and followed by proportioned stratified random sampling. The respondents in this study include 125 Islamic capital market investors in Banda Aceh City. The analysis technique employed is Structural Equation Modeling (SEM) using Amos. The results of the study show that return perception significantly influences investment decisions but does not affect reinvestment intention. Conversely, risk perception does not influence investment decisions but significantly affects reinvestment intention. Additionally, investment decisions were found to significantly influence reinvestment intention. The study also shows that investment decisions fully mediate the relationship between return perception and reinvestment intention. However, there was no mediation effect found in the relationship between risk perception and reinvestment intention. As for moderation, the study finds that intergenerational factors (Baby Boomer, X, Y, and Z), do not moderate the influence of return and risk perceptions on investment decisions, the negative coefficient proves that the effect of perceived return is weaken in generations X and Y than Baby Boomer, while generation Z shows a stronger influence than Baby Boomer.The results show the importance of in-depth analysis of return perception and investors need to improve their understanding and evaluation of risk thoroughly, With no moderating effect found in this study, it indicates that the effect of perceived return and risk is consistent across generational groups regardless of whether investors are from the Baby Boomer, X, Y, or Z generations.