DETERMINANTS OF CONSUMER PREFERENCE FOR GOLD-I INVESTMENT: A MALAYSIAN CASE STUDY

Umi Naswah Athirah Rahmat; Haneffa Muchlis Gazali; Mohd Zulkifli Muhammad

doi:10.51200/mjbe.v12i1.6578

Authors

Umi Naswah Athirah Rahmat
Haneffa Muchlis Gazali
Mohd Zulkifli Muhammad

DOI:

https://doi.org/10.51200/mjbe.v12i1.6578

Keywords:

Gold-i investment, Theory of Planned Behaviour, Malaysia, Religiosity, Knowledge

Abstract

This study examines the application of the extended Theory of Planned Behaviour (TPB) in influencing consumer decisions to invest in Gold-i, a Shariah-compliant product that enables participation in the metals market, with returns generated from capital appreciation. Employing a quantitative research methodology, data were gathered through an online survey of 216 Malaysian consumers using convenience sampling. The analysis was conducted using multiple regression techniques with SPSS version 28. Results indicate a significant correlation between the intention to invest in Gold-i and factors such as attitude and knowledge, while subjective norm, perceived behavioural control, and religiosity were not significant predictors. The study, limited to a cross-sectional design and focused on Malaysian consumers, offers valuable insights for policymakers, financial institutions, and investors. The findings provide a foundational understanding for Islamic financial institutions seeking to enhance their interventions and strategies. Moreover, this research contributes to the sparse literature on Gold-i investment in Malaysia, serving as a reference for future studies. As one of the first empirical investigations in this domain, this study is anticipated to encourage further research into the determinants of Gold-i investment behaviour among Malaysian consumers.

Author Biographies

Umi Naswah Athirah Rahmat

Labuan Faculty of International Finance,
University Malaysia Sabah Labuan International Campus,
Jalan Sg Pagar, 87000 FT Labuan, Malaysia.

Haneffa Muchlis Gazali

Labuan Faculty of International Finance,
University Malaysia Sabah Labuan International Campus,
Jalan Sg Pagar, 87000 FT Labuan, Malaysia.

Mohd Zulkifli Muhammad

Faculty of Entrepreneurship and Business, Pengkalan Chepa,
Universiti Malaysia Kelantan, 16100 Kota Bharu, Kelantan.

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