An investigation of the effect of customer beliefs on the intention to participate in family Takaful schemes

© 2019, Emerald Publishing Limited. Purpose: The purpose of this study is to apply the theory of planned behavior (TPB) in predicting the intention to participate in family takaful schemes (FTSs) in the United Arab Emirates (UAE). One area of concern for takaful operators is their untapped market and lower market share compared to those of their conventional insurance counterparts. It is possible that the investigation of direct and indirect (belief based) measures of TPB could shed some light on these concerns and possibly offer some assistance to takaful operators. Design/methodology/approach: Interrelationships among attitudes, subjective norms, perceived behavioral controls (PBCs) and intention to participate in FTSs were examined. The relationships between behavioral beliefs on attitudes, normative beliefs on subjective norm and control beliefs on PBC were also assessed to fully identify the structures underlying factors measuring intentions. The respondents consisted of 175 Muslims in the UAE. Data were collected using an online survey and analyzed using SPSS. Findings: This study found that attitudes, subjective norms and PBCs contribute to the prediction of the intention to participate in FTSs. This study used standard multiple regressions to identify an extensive set of specific belief composites this can be used in the prediction of direct measures of TPB and the intention to participate in FTS. Practical implications: The findings of this study provide useful information to takaful marketers on how to develop marketing strategies to increase FTS participation. This study suggests that informative and persuasive promotions can be used to improve the penetration rate of FTSs in the UAE. Originality/value: This study provides insights into previously unaddressed FTS participation in the UAE. Prior work on determining FTS participation has not been applied to both direct and indirect measures of TPB to understand the phenomenon

Muslim intention to participate into family takaful scheme : a study using decomposed theory of planned behavior in Klang Valley, Malaysia

Malaysian takaful market has been established more than 25 years ago. However, untapped market still exists. Besides, the penetration rate and contribution from society in the country are lower compared to other countries. With so many family takaful schemes available, it is questionable why the majority of Muslims, the main target market for family takaful scheme, do not have any family takaful scheme. This resulted into finding out what factors play important role in participating into family takaful scheme. The objective of this study is to discover the factors driving consumer intention to participate in family takaful scheme. A framework was developed based on the literatures. A questionnaire and semi-structured interviews were conducted. Structural equation modelling through SmartPLS was conducted to test all the hypotheses in this study. Furthermore, the interview data were analysed through thematic analysis. The findings of this study largely supported the hypothesised relationships proposed in the theoretical model. Specifically, the results revealed that attitude and perceived behavioural control, but not subjective norm, were crucial in affecting intention to participate in family takaful scheme. The results also provided strong evidence of the relationship between media referent and word of mouth referent on subjective norm as well as between self-efficacy and resource facilitating condition on perceived behavioural control, which in turn were necessary determinants of intention. Furthermore, awareness, knowledge, experience, and religiosity were found to be associated with attitude. Knowledge and exposure were also found to have a positive relationship with intention. However, awareness and religiosity were found to have negative relationship with intention. The findings of this study provide important insights to the takaful operator in designing their product mix and in defining their target market. The findings will also assist in improving the market share of family takaful scheme and further in helping in the development of takaful industry

The impact of brand familiarity, perceived trust and attitude on investors’ decision-making in Islamic stock market

Purpose: This paper aims to investigate the influence of investors’ attitudes on their decision-making. Two subjective perception factors, brand familiarity and perceived trust, were proposed to influence investors’ attitudes and decision-making. This paper also suggests the potential mediating effect of attitude on decisions on Islamic stock investment. Design/methodology/approach: Data were collected using a primary data collection method. Questionnaires were used and distributed to a sample size of 250 Malaysian investors in the Klang Valley aged between 25 and 50 years old. Data were analysed using SPSS and Structural Equation Modelling–Partial Least Squares. Findings: Seven hypotheses were proposed, and six were supported. The findings show that brand familiarity and perceived trust have a significant relationship with attitude. Brand familiarity and attitude have a significant relationship with investment decision behaviour. The relationship between perceived trust and attitude also reveals significant findings. However, perceived trust was found to have an insignificant relationship with investment decision behaviour. Mediation analysis shows that attitude mediates the relationship between brand familiarity and investment decision behaviour. Attitudes are also found to mediate the relationship between perceived trust and investment decision behaviour. Practical implications: It is recommended that publicly listed companies emphasize and devote extra efforts to enhancing investors\u27 familiarity with and favour their brand. In addition, to build an investor’s trust, a company must be consistent in dividend payments. Such action may improve the probability of the company’s stock being chosen for investment. Originality/value: Subjective perceptions of investors\u27 decision-making in Islamic stock investment have yet to be thoroughly explored in the literature, especially in the Malaysian context. In this paper, the indirect relationship between brand familiarity and perceived trust in attitude is tested. This paper contributes to consumer behaviour and marketing of Islamic stock investment research area

Takāful demand: a review of selected literature

Purpose: This paper aims to provide a systematic review of literature on the demand for takāful (Islamic insurance) from articles published from January 2009 to June 2019. The review aims to synthesise and segment previously published research to identify the gaps and provide future research direction. Design/methodology/approach: A systematic review of the literature was conducted. Past research was analysed, and content comparisons based on research focus, context and methodology were evaluated. Findings: It was found that not much has been written and published on takāful demand in quality journals. The first two articles were published in 2009, but it was only in 2017 that coverage of the topic rapidly expanded. Although no article was found to have been published in 2018 on takāful demand, there was one published article on the topic in 2019. This paper also found that not much attention has been given to takāful demand from the corporate sector. Research limitations/implications: The defined rule for document searching and selection excluded out-of-scope documents that might be relevant. Furthermore, as this paper concentrates exclusively on articles published in English journals, the possibility that other relevant works do appear elsewhere in a different language is not denied. Practical implications: Factors determining takāful demand are provided, and general directions are discussed, which managers can use to develop market share further. Originality/value: Such an extensive review of literature on takāful demand has not been done before. Other than revealing ambiguities, gaps and contradictions in the literature, this paper sketches an avenue for further research. It also provides information and guidance for other researchers wishing to embark on research on takāful demand

Intention to Purchase Family Takaful Policy: Evaluation of the Mediating E

This paper aims to investigate the factors affecting individuals' intention to purchase family takaful policies in Pakistan. The extended version of the Decomposed Theory of Planned Behaviour (DTPB) with perceived trust was adopted as a theoretical foundation of the current study model. A total of 449 questionnaires were collected using a judgemental sampling technique and analyzed using SmartPLS. Of all the hypotheses, one was rejected. Attitude and subjective norms were found to have a positive relationship with intention. Perceived religiosity and knowledge were found to have a positive relationship with attitude. In addition to that, media referent and word of mouth were found to have a positive relationship with subjective norm while financial self-efficacy and resource facilitating conditions were found to have a positive relationship with perceived behavioral control. The mediating analysis suggested that trust mediates the relationship between religiosity and attitude. However, perceived behavioral control was found to have an insignificant relationship with intention. The results of this study highlight the applicability of DTPB into life insurance research and suggest marketing strategies for sustainable and survival of the takaful companies in Pakistan. The value of this paper lies in its presentation of a model for factors that affect an individual's intention to purchase family takaful policy.

Does perceived usefulness and perceived ease of use affect intention to use crowdfunding platforms?

This paper aims to address the influence of perceived usefulness (PU) and perceived ease of use (PEOU) on the intention (INT) to use crowdfunding platforms among small-to-medium enterprises (SMEs). Data were collected from 163 SMEs in Selangor, Malaysia, using a purposive sampling approach. The hypotheses were tested by applying structural equation modelling. The results revealed that perceived usefulness and perceived ease of use were able to influence intentions to use crowdfunding platforms. By examining perceived usefulness and perceived ease of use on intention, this paper validated the importance of both constructs in affecting the intention of SMEs in using crowdfunding. The result of this paper will help in guiding efforts of crowdfunding platform providers to formulate strategies that will enhance SMEs intention to use their platforms

Food and beverage industry competitiveness and halal logistics: perspective from small and medium enterprises in Malaysia

Purpose: This paper investigates the competitiveness of the food and beverages (F&B) industry in Malaysia and examines the Small and Medium Enterprises' (SMEs) demand and key perceptions towards challenges in halal logistics. Methodology: This paper adopted SWOT analysis to understand the internal (strengths, weaknesses) and external (opportunities and threats) competitiveness of the industry. Interview sessions were conducted with 10 SMEs’ owners in the food industry from December 2020 until February 2021. Findings: The SWOT analysis identified several strengths (e.g. workforce diversity, well-established equipment, and facilities), weaknesses (e.g. a limited number of skilled workforce, lack of industrial collaboration, lack of distribution channel), opportunities (e.g. increasing food demand, advanced technology, supportive government initiatives, favorable business environment) and threats (e.g. high cost, new and changing regulation). The SMEs’ perception towards key challenges in halal logistics was also identified. Research limitations/implications: This paper provides an understanding of the competitiveness of the F&B industry, sheds light on the key challenges faced by SME owners in halal logistics, and offers strategies to solve the issues. This study, however, is limited to Malaysia’s experience. Practical implications: This paper will contribute to future studies in the similar field and offers a guide for Halal logistics players, including practitioners and policymakers, to understand their business environment better. The identification of SMEs’ SWOT will be helpful for the businesses to move forward. Originality: The value of this paper lies in the knowledge of SMEs, especially in the F&B industry

Understanding Research Paradigms: A Scientific Guide

Knowledge of research paradigms is crucial as they guide scientific research and discoveries through their assumptions and principles. Besides, different disciplines utilize different research approaches. There are four different research paradigms available - positivism, realism, critical theory, and interpretivism. Knowledge of the various research paradigms will reduce research method bias and allow for better research instruments. This paper aims to highlight to budding researchers the research paradigms available and their employment in scientific research

Stock investment decision: the impacts of investor’s perceived trust, religiosity and attitude

This paper investigates the relationship between religiosity in influencing perceived trust and attitude to invest in the Islamic stock market. In addition, this paper examines the relationship of attitude on investment decision behavior as well as the mediating role of attitude in mediates the relationship between religiosity and investment decisions as well was perceived trust and investment decisions. Using nonprobability, judgmental sampling techniques, questionnaires were collected from 247 Bursa Malaysia’s retail investors. SPSS and SmartPLS were utilized to analyze the data. All hypothesized relationships generate significant results. Religiosity and perceived trust have a significant relationship with attitude to investing in Bursa Malaysia. Attitude has a significant relationship with investment decision behavior, and religiosity has a significant relationship with perceived trust. Besides, the mediating assessment found that attitude mediates the relationship between religiosity and investment decisions. Attitude also mediates the relationship between perceived trust and investment decisions. This paper contributes to the body of knowledge in finance literature at the theoretical and practitioner level. First, it provides an empirical investigation to the body of knowledge that links religiosity and perceived trust to stock investment decisions through attitude. Second, it provides evidence on the impact of religiosity in the context of investment decisions by Muslims. Policymakers and investment institutions might benefit from this research by understanding the effect of investors' religiosity and trust on attitude to investing in the Islamic stock market and taking this as an essential factor when designing regulations and promoting the products and services

Covid-19 and E-wallet usage intention in Kyrgyzstan

The usage of electronic commerce has continued to expand since the Covid-19 pandemic began in developed and developing countries. However, the usage of electronic commerce in Central Asian countries is underresearched. This study aims to determine the factors that influence e-wallet usage intention in Kyrgyzstan. The theory of planned behaviour (TPB) is extended and adopted in developing the hypotheses. Using surveys, 319 questionnaires were collected from young and middle-aged adults in Kyrgyzstan. The findings show that attitude, subjective norm and perceived behavioral control has a positive relationship with intention to use e-wallets. It is also found that attitude and intention will be stronger if the perceived behavioral control is high. The findings suggest ways to enhance the use of e-wallets in in Kyrgyzstan