Abstract
The main purpose of this paper is to review existing relevant pieces of literature on the behavior of investors toward investment in sharia stocks and bring into focus the factors that affect investors’ behavior in investment decision-making regarding sharia stocks. The paper is descriptive and exploratory and based on secondary data sourced from trusted e-journals, research databases, and e-magazines. The factors that influence investment decisions can be complex and may vary from one individual to another. Some studies have found that religiosity, and specifically adherence to religious values and principles, can influence investment decisions. However, not all studies have found a significant relationship between investment behavior regarding sharia stocks and the concept of religiosity. Other factors may also play a dominant role in determining decisions for prudent investments, such as financial literacy along with sharia literacy, financial behavior, and financial habits among others. Investors who are more financially literate may be better equipped to make informed investment decisions. Overall, the theory of planned financial behavior provides a resourceful framework for understanding investment behavior in many studies. Keywords: Sharia Literacy, Equity Market, Sharia Stock, Behavioral Finance, Investors’ Behavior DOI： https://doi.org/10.35741/issn.0258-2724.58.3.35
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