Sosiodemografi Memoderasi Pemahaman Masyarakat Dengan Mendeterminasi Terhadap Minat Investasi di Pasar Modal (Studi Kasus : Masyarakat Kota Medan)

This study aims to determine the factors that influence public interest in investing in the capital market in the people of Semarang Regency, Indonesia. This study uses a quantitative approach. The research sample is the community or residents of Semarang as many as 62 people. The instrument used is a questionnaire. Data processing using SPSS program. The method of analysis with multiple linear regression model. In this research, the data analysis technique and variable measurement used validity test, reliability test, and classical assumption test. The results of the research test are that the variables of knowledge, income, and motivation have a significant positive effect on people's interest in investing in the capital market. While the risk variable has no significant effect on public interest in investing in the capital market.Keywords: Intention, knowledge, income, motivation, risk, investment

This study aims to analyze and obtain empirical evidence of the influence of financial literacy and demographic factors on public interest in investing in the capital market. This research is a quantitative research with data collection methods using questionnaires distributed to the public in DKI Jakarta with the condition that people who already have income which are 4,836,980 correspondents. A minimum sample of 100 respondents is obtained by calculating the sample using the Slovin technique and data processing is assisted by using SPSS statistical software, the feasibility test of the data in this study uses validity and reliability tests, while for the analytical method using descriptive analysis, classical assumption test, multiple linear regression analysis and hypothesis testing. The results of this study are financial literacy has no significant effect on people's interest in investing in the capital market, while demographic factors have a significant effect on public interest in investing in the capital market but after a feasibility test on the two independent variables the results are both variables have a significant effect on people's interest in investing in the capital market. capital market

This activity aims to provide knowledge to start investing from an early age for people who have not invested in the capital market. Therefore, the themed activities “Introducing Investment in the Capital Market as an Alternative to Investment Apart from Banking” is expected to be a solution for the community to choose which investment is feasible. The material presented includes basic knowledge about investing in the capital market, investment goals, types of investment both real assets and financial assets, what is the initial process of becoming an investor and next, how to make transactions with the mechanism and characteristics of stock trading in accordance with the rules in force in the capital market. The results of the activity can be seen from the increased knowledge of the participants by investing in the capital market, participants still have difficulty understanding stock investments with trading mechanisms and characteristics, and the ability of participants to master the material is still lacking due to the short time in delivering the material so that participants are still interested in wanting to know more about investing in the capital market. At the end of the community service activity, we conducted an evaluation after delivering the introduction to investment in the capital market and provide the opportunity for participants to ask questions to make them interested in investing in the capital market. The success of this activity can be measured by the number of participants who ask questions. Participants also shared their experiences with investing in banking and insurance so that the participants will try to start investing in stocks.

Capital market – or more precisely the primary capital market – is the fulcrum of capital formation whereby liquid funds are effectively mobilised, pooled and channelled through the financial system to finance the production of goods and services in the economy and, hence, effectively contribute to real economic growth. However, the long term commitment of funds in the production of goods and services tend to be thwarted by two major concerns on the supply side of funds (1) parting with liquidity and (2) exposure to various economic risks. An efficiently liquid capital market is, therefore, one which prudently resolves these two major problems through the structuring of appropriate capital market instruments and the placement of supportive financial and regulatory institutions. The worldwide phenomenal growth of secondary financial markets have thus flourished to cater the needed liquidity and risk management services through the free sale and purchase of capital and money market instruments. In particular, the trading of short term loans or debt instruments through money markets, with maturity less than one year, proves to be an important efficiency-enhancing arm to capital markets. Islamic finance is governed by the law of Shari’ah (Muslims’ law) which basically prohibits the interest rate as well as a kind of ‘structured’ uncertainty within financial contracts called gharar 1) . Depending on the maturity of financial assets, it will be shown that Islamic securities can be structured to act as either ‘capital market’ or ‘money market’ instruments. It is particularly interesting to see how Islamic capital and money market instruments have been structured with a view to issues of liquidity and risk management. Yet, currencies in whatever denomination are not legitimate objects of money market trade from Shari’ah perspective. For example, foreign exchange has to satisfy the hand-to-hand condition, which means that any deliberate delay or deference in the exchange of currency falls in the special category of prohibited usury called riba al-nasaa’ or the usury of deference 2) . This paper is about the experience of the newly emerging Islamic capital and money markets, and how they have been set out to integrate with global capital markets in accordance with Shari’ah-compliant solutions. At the outset, a brief background on the importance of money markets is given, followed by a comparative demonstration of conventional and Islamic financial markets. The structural properties of Islamic capital and money market instruments are then explained with reference to the emerging financial market experience in the Muslim world. In anticipation

In Islamic teachings the way to alleviate poverty already exists in one of its pillars, namely by paying zakat. This study explains the public's interest in paying zakat and the managerial ability of Baitul Mal Aceh Tamiang. The main objective of this study was to determine the effect of managerial ability on the public’s interest in paying and the managerial ability of Baitul Mal Aceh Tamiang. It is a quantitative research using primary and secondary data collected through questionnaire and interview. The populations in this study are 70 muzakkis with 41 samples taken using purposive sampling method. Data analysis techniques used are validity test, reliability test, normality test, and simple regression analysis with the help of SPSS. The results show that the influence of managerial ability on public interest is 38% while the remaining 62% is influenced by other factors outside this research. The influence of knowledge about usury towards saving interest has t count of 2.815> and t table 1.683. The coefficient value of the managerial ability variable is 0.298 which means that the independent variable has positive effect on the dependent variable. So that it can be concluded that managerial ability has a positive and significant effect on people's interest in paying zakat in the Baitul Mal Aceh Tamiang.

The problem in this study is the investment interest of students in the capital market which basically students have a fairly high investment interest, but because of a risk and the perception that investment requires large capital so that some of the students discourage investment. This study aims to determine empirical evidence regarding the effect of investment motivation, minimum capital, investment risk, and investment knowledge on investment interest in the capital market. The population in this study were all students of the Faculty of Economics, State Universitas Negeri Medan. From the population, the data collected were 60 respondents who became the research sample with the provisions using the purposive sampling method. In this study, the instrument test was carried out through validity and reliability tests. The data analysis technique used in this study is the classical assumption test, multiple linear regression analysis and hypothesis testing, t test and F test using SPSS version 22 software. The results of this study indicate that simultaneously investment motivation, minimal capital, investment risk and investment knowledge have a significant effect on investment interest in the capital market. While partially investment motivation has a positive and significant effect on investment interest in the capital market, minimal capital has a positive and significant effect on investment interest in the capital market, investment risk has no effect on investment interest in the capital market, and investment knowledge has no effect on investment interest in the capital market.

This study aim to analyze the influence of liquidity ratio and solvabily to stock price of PT Indofood CBP Sukses Makmur. This research used quantitative research method with secondary data collection techniques. In this study, data was obtained by accessing the Indonesia Stock Exchange gallery website to obtain documents in the form of financial statements of PT. INDOFOOD CBP SUKSES MAKMUR Tbk. listed on the Indonesia Stock Exchange in accordance with the provisions of the writing. This research using multiple linear regression analysis techniques as the data analysis techniques. The capital market in Indonesia currently shows developments in the Indonesian economy. This rapid development occurred because of the increasing public interest in investing in the capital market, the development of public knowledge about the capital market, and the increasing number of companies registered in the capital market. The advantage of a company from investments made is one of the important factors that must be considered in making investments, because it affects stock prices. Variations in stock prices are influenced by various factors both internal and external factors. There are two analyzes that can be used to anticipate the risks arising from stock prices that change every time, fundamental security analysis or company analysis and technical analysis. Fundamental analysis tries to calculate the intrinsic value of a stock by using company financial data or ratios, including with liquidity ratios and solvency ratios. The liquidity ratio is to show or measure the ability of a company to meet its maturing obligations. In this study the ratio used to measure the level of corporate liquidity is Current Ratio. Solvency ratio is the ratio of the company's ability to fulfill its financial obligations. In this study the solvency ratio used is Debt to Equity Ratio. Based on the results of this study it can be concluded that the Variable Current Ratio (CR) and Debt to Equity Ratio (DER) simultaneously do not have a significant effect on Stock Prices; Current Ratio (CR) variable has a negative but significant effect on Return on Equity (ROE); and the Debt to Equity Ratio (DER) variable partially has a positive and insignificant effect on stock prices.

This study aims to determine the effect of promotion and knowledge on public interest in using Indonesian Islamic Bank (BSi) KCP Jambi Sungai Bahar. There are many strategies that can be done to attract people's interest to use Bank Sayariah, one of them is by promotion. In this day and age, promotion can be done in many ways, namely, using social media, advertising, and so on. In addition, banks must also provide knowledge to the public about the products/services offered by Islamic banks so that they can increase public interest in using Islamic banks. This type of research is quantitative research. The population in this study is the community around Tanjung Sari Village. The sampling technique used the slovin technique with a sample determination of 100 people. Data collection techniques in this study through observation, interviews, distribution of questionnaires, and documentation. Furthermore, data processing and analysis techniques use the help of the SPSS program. The stages in data processing and data analysis techniques are testing the quality of research instruments, namely validity and reliability tests . Furthermore, the classical assumption test will be carried out consisting of normality test, multicollinearity test, heteroscedasticity test . Then, this study will use multiple linear regression analysis techniques. Partial test results on the promotion variable t arithmetic value > t table ( 4.719 > 1.985 ) and a significance value of 0.000 < 0.005 thus H 0 is rejected and H 1 is accepted. Furthermore, the knowledge variable t arithmetic value > t table ( 4.645 > 1.985 ) and a significance value of 0.000 < 0.005 , thus H 0 is rejected and H 1 is accepted. So, the promotion and knowledge variables affect people's interest. While the results of simultaneous testing with the values of the F test results for promotion (X 1 ) and knowledge (X 2 ) simultaneously on public interest (Y) is 0.000 < 0.005 and the calculated F value > F table ( 47 , 160 > 3.09). So it can be concluded that Ha is accepted and H 0 is rejected, which means that there is a significant influence between the promotion variable and the knowledge variable simultaneously on the public interest variable . The implication of this research is that it can increase knowledge and sources of information about the effect of promotion and knowledge on public interest.

Executive Summary. This study examines whether real and financial assets in Hong Kong can hedge against inflation. Many studies have been undertaken using one or all of the three common ways of measuring inflation hedges: (1) comparison between inflation rates and rates of returns, (2) the Fama and Schwert Framework, and (3) co-integration techniques. The first method is considered inadequate due to the lack of any indication of the underlying process. Fama and Schwert proposed a methodology to measure an asset's inflation hedge against expected and unexpected inflation. Their method was adopted in many similar studies that followed. However, this methodology was criticised for being based on a static regression method, which was unable to differentiate between long-run equilibrium adjustments and short-run dynamic movement. Especially for real assets, a method of separating the long-run movements from any short-run ones is necessary. Therefore, many studies have employed co-integration techniques to test for the existence of any long-run equilibrium relationship between inflation and asset returns. In order to compare the inflation-hedging characteristics of both real and financial assets in Hong Kong during an eleven-year period (from 1984-94), the quarterly data was subjected to analysis using both the Fama and Schwert framework and co-integration techniques. The study concludes that real assets in general are not a good hedge against inflation, in the sense the methodologies imply. Further, financial assets in Hong Kong appear to have been a better hedge against inflation than real assets.

By understanding the cointegration between one capital market with other capital markets, it can assist investors in determining which of the capital market will be used to form the International diversification in order to provide a potential advantage. In research on the cointegration of capital markets has been done by Fratzscher (2002), Murtini and Ekawati (2003), Karim, Kassim, dan Arip (2010), Srikanth and Aparna (2012), by taking a few sample of some of the capital market in the world revealed different results, instead of giving rise to a research gap. Therefore, it is necessary to do a deeper study because a different result occured after the economic crisis of United States and Europe in 2008. Research problem to be studied is to analyze the cointegration between the Indonesian capital market with the U.S. capital markets (DJIA) and the European capital markets (FTSE 100, IBEX 35 and ATHEX). This reseach method uses quantitative research. The sample of research is the data from IHSG, DJIA index, FTSE 100 index, IBEX 35 index, and ATHEX index that limited in weekend closing data during the observation period between 2008-2012. Data analysis techniques using Johansen Cointegration Test, Augmented Dickey-Fuller (ADF) Test and Granger Causality Test within 5% significance. The results of this study would be indicate that the Indonesian capital market has been cointegrated with U.S. stock market (DJIA), UK stock market (FTSE 100), Spain stock market (IBEX 35) and Greek capital market (ATHEX). Indeed, the Indonesian Capital Market connected to U.S. and Europe Capital Markets have a causal relationship.

This research was conducted to achieve several objectives and focus research was based on financial behavior theory and prospect theory as grounded theory e.g., investigate the financial decision-making behavior between financial and real assets investment, and confirm the relationship existing between herding behavior and overconfidence factors to the level of loss and regret aversion, and financial literacy into real assets investment decisions. The study used 220 real estate auction respondents as investor samples at the State Assets and Auction Service Office Makassar, South Sulawesi, Indonesia. Data was collected through the use of a questionnaire consisting of 23 questions to measure the variables. Moreover, the research data passed through several feasibility tests like the inner and outer modeling by Partial Least Square - Structural equation model (PLS-SEM) while the hypotheses formulated were also tested to determine the magnitude of the variable relationship. Through the use of the direct and intervening test, loss and regret aversion variables have a positive and significant effect while financial literacy variables have no significant effect. There is a slight difference in the decision-making process for real assets and financial assets investors. Investment decision making behavior in the financial assets sector requires less complicated decisions compared to the decisions related to real assets investments.

This research aims to analyse the factors that influence students' interest in investing in the capital market. The determining factors are education, risks and profits, and availability of funds. The analysis technique used is the Structural Equation Model (SEM) with the Smart PLS V. 3.2 application tool. The research results show that education has a positive and significant effect on students' interest in investing in the capital market. Education, both formal and non-formal, will encourage students' understanding of the importance of investment, both in the capital market and investment in other sectors. Profits and risks have a positive and significant effect on students' interest in investing in the capital market. Profits will encourage students' interest in investing in the capital market. This is the main factor that attracts students' interest. The source of funds has a positive and significant effect on students' interest in investing in the capital market. Students who have excess sources of funds or have sources of income tend to be more interested in investing in the capital market. Conversely, if students do not have excess sources of funds, they will choose the safe route by not investing in the capital market.

The purpose of this paper was to model, with the help of neutrosophic fuzzy numbers, the optimal financial asset portfolios, offering additional information to those investing in the capital market. The optimal neutrosophic portfolios are those categories of portfolios consisting of two or more financial assets, modeled using neutrosophic triangular numbers, that allow for the determination of financial performance indicators, respectively the neutrosophic average, the neutrosophic risk, for each financial asset, and the neutrosophic covariance as well as the determination of the portfolio return, respectively of the portfolio risk. There are two essential conditions established by rational investors on the capital market to obtain an optimal financial assets portfolio, respectively by fixing the financial return at the estimated level as well as minimizing the risk of the financial assets neutrosophic portfolio. These conditions allowed us to compute the financial assets’ share in the total value of the neutrosophic portfolios, for which the financial return reaches the level set by investors and the financial risk has the minimum value. In financial terms, the financial assets’ share answers the legitimate question of rational investors in the capital market regarding the amount of money they must invest in compliance with the optimal conditions regarding the neutrosophic return and risk.

Investing in the capital market is an alternative for people who want to invest their excess funds as well as being able to drive the economy in a country. This study aims to obtain empirical evidence regarding the determinants that influence investment interest in the capital market. Determination of the sample in this study using purposive sampling method with a sample of 105 students who have taken the capital market theory course and already have an account of effects. The data analysis technique used is multiple linear regression analysis. The results of the study indicate that investment understanding, motivation, and the bandwagon effect have a positive effect on investment interest in the capital market. This means that the higher the understanding of investment, motivation, and the bandwagon effect phenomenon that occurs, the higher the interest in investing in the capital market.
 Keywords: Investing Interest; Investment Understanding; Motivation; Bandwagon Effect.

This paper aims to see the willingness of people, both existing investor and non-investor, to invest their money in capital market after the new regulation about new compensation limit of investor protection fund. Moderated regression analysis is used to analyze the willingness to invest in existing investors and non-investors. The data are from a field survey of 110 respondents. The regression result shows that the expenditure and education level of existing investor is negatively and significantly associated with the willingness to invest under the new compensation limit of investor protection fund in capital market, contrary to our initial hypothesis. As well as existing investor side, the expenditure variable of non-investor has statistically significant negative effect on the non-investor willingness to invest. Confirming this study initial hypothesis, education level of non-investor has positive effect on the non-investor willingness to invest but the effect is not statistically significant.