Article Sidebar

Download
Full text PDF
Statistic
Read Counter : 165 Download : 336

Downloads

Download data is not yet available.

Main Article Content

Abstract

Purpose − the purpose of this study is the determinants of factors influencing to the intention in Islamic Peer to Peer (P2P) financing platform.
Methodology − Quantitateve approach with distributing questionnare accross Islamic P2P financing platforms consisting of ethis.co.id, ammana.id, alamisharia.id, danasyariah.id and qazwa.id employed. 121 usable sample is analsyed with using PLS-SEM and Smart PLS 3.2 opreated as analysis tools.
Findings − The results show that normative influence affects positively and significantly the subjective norm. In terms of attitude control, only perceived uselfulness has insiginificant influence on attitude. Moreover, self-efficacy and facilitating condition has a positive and significant impact on perceived behaviour control. Attitude and perceived berhaviour control affect intention to participate. However, subjective norm has insignificant impact on intention to participate in P2P financing platform.
Implications − The study suggests that islamic P2P should focus on relative advantage and perceived ease of use, perceived behavioral control in order to maintain their customers.
Originality − Decomposed Theory of Planned Behavior model (DTPB) used in the study as the first study in Islamic P2P lending in Indonesia

Keywords

Islamic P2P Financing DTPB PLS-SEM

Article Details

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

How to Cite
Rofiqo, A., Zamarkasi, A., & Bin Abd Razak, A. . (2023). The important role of the DTPB in the development of Islamic P2P lending in Indonesia. Asian Journal of Islamic Management (AJIM), 5(1), 36–53. https://doi.org/10.20885/AJIM.vol5.iss1.art3
Download Citation
Endnote/Zotero/Mendeley (RIS)
BibTeX

References

  1. Ajzen, I (2005). Attitudes, personality and behavior, Open University Press. https://psicoexperimental.files.wordpress.com/2011/03/ajzeni-2005-attitudes-personality-and-behaviour-2nd-ed-open-university-press.pdf
  2. Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50(2). https://doi.org/10.1016/0749-5978(91)90020-T
  3. Ajzen, I., & Fishbein, M. (1975). A Bayesian analysis of attribution processes. Psychological Bulletin, 82(2). https://doi.org/10.1037/h0076477
  4. Amin, H., Abdul-Rahman, A. R., & Abdul-Razak, D. (2013). An integrative approach for understanding Islamic home financing adoption in Malaysia. International Journal of Bank Marketing, 31(7). https://doi.org/10.1108/IJBM-02-2013-0008
  5. Asosiasi Penyelenggara Jasa Internet Indonesia. (2018). Penetrasi & profil perilaku pengguna internet Indonesia. Asosiasi Penyelenggara Jasa Internet Indonesia (APJII). https://apjii.or.id/survei2018s/download/TK5oJYBSyd8iqHA2eCh4FsGELm3ubj
  6. Armitage, C. J., & Conner, M. (2001). Efficacy of the theory of planned behavior: A meta-analytic review. British Journal of Social Psychology, 40(4). https://doi.org/10.1348/014466601164939
  7. Baihaqi, J. (2018). Financial technology peer-to-peer lending berbasis syariah di Indonesia. Tawazun : Journal of Sharia Economic Law, 1(2). https://doi.org/10.21043/tawazun.v1i2.4979
  8. Bandura, A. (1977). Self-efficacy: Toward a unifying theory of behavioral change. Psychological Review, 84(2). https://doi.org/10.1037/0033-295X.84.2.191
  9. Bandura, A. (1986). The explanatory and predictive scope of self-efficacy theory. Journal of Clinical and Social Psychology, 4, 359–373. https://doi.org/10.1521/jscp.1986.4.3.359
  10. Bank Indonesia. (2017). Peraturan Bank Indonesia Nomor 19/12/PBI/2017 tentang Penyelenggaraan Teknologi Finansial. Bank Indonesia. https://www.bi.go.id/id/publikasi/peraturan/Documents/PBI_191217.pdf
  11. Chen, D., Lai, F., & Lin, Z. (2014). A trust model for online peer-to-peer lending: A lender’s perspective. Information Technology and Management, 15. https://doi.org/10.1007/s10799-014-0187-z
  12. Cialdini, R. B., Reno, R. R., & Kallgren, C. A. (1990). A focus theory of normative conduct: recycling the concept of norms to reduce littering in public places. Journal of Personality and Social Psychology, 58(6). https://doi.org/10.1037/0022-3514.58.6.1015
  13. Darmansyah, Fianto, B. A., Hendratmi, A., & Aziz, P. F. (2020). Factors determining behavioral intentions to use Islamic financial technology: Three competing models. Journal of Islamic Marketing. https://doi.org/10.1108/JIMA-12-2019-0252
  14. Davis, F. D. (1989). Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS Quarterly: Management Information Systems, 13(3). https://doi.org/10.2307/249008
  15. Elhajjar, S., & Ouaida, F. (2020). An analysis of factors affecting mobile banking adoption. International Journal of Bank Marketing, 38(2), 352–367. https://doi.org/10.1108/IJBM-02-2019-0055
  16. Fauzi, M. A., Nya-Ling, C. T., Thursamy, R., & Ojo, A. O. (2019). Knowledge sharing: Role of academics towards research productivity in higher learning institution. VINE Journal of Information and Knowledge Management Systems, 49(1). https://doi.org/10.1108/VJIKMS-09-2018-0074
  17. Fornell, C., & Larcker, D. F. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of Marketing Research, 18(1). https://doi.org/10.2307/3151312
  18. Galloway, I. (2009). Peer-to-peer lending and community development finance. Community Development Investment Center Working Paper. https://www.frbsf.org/community-development/wp-content/uploads/sites/3/galloway_ian.pdf
  19. Gerrard, P., & Barton Cunningham, J. (2003). The diffusion of Internet banking among Singapore consumers. International Journal of Bank Marketing, 21(1). https://doi.org/10.1108/02652320310457776
  20. Hadad, M. D. (2017). Financial Technology (FinTech) di Indonesia, Otoritas Jasa Keuangan. http://esy.iai-agussalimmetro.ac.id/wp-content/uploads/2017/12/Fintec.pdf
  21. Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2014). Multivariate data analysis (MVDA) (7th ed.). Pearson Education Limited. https://doi.org/10.1002/9781118895238.ch8
  22. Hidayat, W. (n.d.). Indonesian internet number six world users. Menkominfo. https://kominfo.go.id/content/detail/4286/penggunainternetindonesia-nomor-enam-dunia/0/sorotan_media
  23. Huda, N., Rini, N., Mardoni, Y., & Putra, P. (2012). The analysis of attitudes, subjective norms, and behavioral control on muzakki's intention to pay zakah. International Journal of Business and Social Science, 3(22). https://ijbssnet.com/journals/Vol_3_No_22_Special_Issue_November_2012/24.pdf
  24. Laksamana, P., Suharyanto, S., & Cahaya, Y. F. (2022). Determining factors of continuance intention in mobile payment: Fintech industry perspective. Asia Pacific Journal of Marketing and Logistics. https://doi.org/10.1108/APJML-11-2021-0851
  25. Lee, C. Y., Tsao, C. H., & Chang, W. C. (2015). The relationship between attitude toward using and customer satisfaction with mobile application services: An empirical study from the life insurance industry. Journal of Enterprise Information Management, 28(5). https://doi.org/10.1108/JEIM-07-2014-0077
  26. Lee, Y. C., Hsieh, Y. F., & Guo, Y. Bin. (2013). Construct the DTPB model by using DEMATEL: A study of a university library website. Program: Electronic Library and Information System, 47(2), 155–169. https://doi.org/10.1108/00330331311313744
  27. Lujja, S., Omar Mohammad, M., & Hassan, R. (2016). Modelling public behavioral intention to adopt Islamic banking in Uganda: The theory of reasoned action. International Journal of Islamic and Middle Eastern Finance and Management, 9(4), 583–600. https://doi.org/10.1108/IMEFM-08-2015-0092
  28. Manan, Y. (2019). Sistem integrasi proteksi & manajemen resiko platform fintech peer to peer (p2p) lending dan payment gateway untuk meningkatkan akslerasi pertumbuhan UMKM 3.0. Ihtifaz: Journal of Islamic Economics, Finance, and Banking, 2(1). https://doi.org/10.12928/ijiefb.v2i1.847
  29. Maulana, H., Razak, D. A., & Adeyemi, A. A. (2018). Factors influencing behavior to participate in Islamic microfinance. International Journal of Islamic and Middle Eastern Finance and Management, 11(1), 109-130. https://doi.org/10.1108/IMEFM-05-2017-0134
  30. Md Husin, M., & Ab Rahman, A. (2016). Do Muslims intend to participate in Islamic insurance?: Analysis from the theory of planned behavior. Journal of Islamic Accounting and Business Research, 7(1). https://doi.org/10.1108/JIABR-03-2014-0012
  31. Mohammadi, H. (2014). The moderating role of individual and social factors in internet banking loyalty: An exploratory study. Transforming Government: People, Process and Policy, 8(3), 420–446. https://doi.org/10.1108/TG-10-2013-0042
  32. Mohammadi, H. (2015). A study of mobile banking usage in Iran. International Journal of Bank Marketing, 33(6). https://doi.org/10.1108/IJBM-08-2014-0114
  33. Muryanto, Y. T., Kharisma, D. B., & Ciptorukmi Nugraheni, A. S. (2022). Prospects and challenges of Islamic Fintech in Indonesia: A legal viewpoint. International Journal of Law and Management, 64(2), 239–252. https://doi.org/10.1108/IJLMA-07-2021-0162
  34. Nag, O. Sen. (2019). Muslim Population By Country. https://www.worldatlas.com/articles/countries-with-the-largest-muslim-populations.html
  35. Nakashima, T. (2018). Creating credit by making use of mobility with FinTech and IoT. IATSS Research, 42(2). https://doi.org/10.1016/j.iatssr.2018.06.001
  36. Narayan, P. K., & Phan, D. H. B. (2019). A survey of Islamic banking and finance literature: Issues, challenges, and future directions. Pacific Basin Finance Journal, 53(c). https://doi.org/10.1016/j.pacfin.2017.06.006
  37. Ngoma, M., & Ntale, P. D. (2019). Word of mouth communication: A mediator of relationship marketing and customer loyalty. Cogent Business and Management, 6(1). https://doi.org/10.1080/23311975.2019.1580123
  38. Niswah, F. M., Mutmainah, L., & Legowati, D. A. (2019). Muslim millennials' s intention of donating to charity using the fintech platform. Journal of Islamic Monetary Economics and Finance, 5(3), 623–644. https://doi.org/10.21098/jimf.v5i3.1080
  39. Nunnally, J. C. (1978). An overview of psychological measurement. Clinical Diagnosis of Mental Disorders. https://doi.org/10.1007/978-1-4684-2490-4_4
  40. Oladapo, I. A., Hamoudah, M. M., Alam, M. M., Olaopa, O. R., & Muda, R. (2022). Customers’ perceptions of FinTech adaptability in the Islamic banking sector: Comparative study on Malaysia and Saudi Arabia. Journal of Modelling in Management, 17(4), 1241–1261. https://doi.org/10.1108/JM2-10-2020-0256
  41. Peterson, R. A. (1994). A meta-analysis of Cronbach's coefficient alpha. Journal of Consumer Research, 21(2). https://doi.org/10.1086/209405
  42. Pişkin, M., & Kuş, M. C. (2019). Islamic online p2p lending platform. Procedia Computer Science, 158, 415–419. https://doi.org/10.1016/j.procs.2019.09.070
  43. Ramdhani, N. (2016). Penyusunan alat pengukur berbasis theory of planned behavior. Buletin Psikologi, 19(2), 55–69. https://doi.org/10.22146/bpsi.11557
  44. Rofiqo, A., Ramadhan, M. A., Sari, D. N., & Yogyakarta, U. N. (2022). Factors that influence of behavior to contribution in Islamic peer-to-peer lending with PLS-SEM approach: Empirical studies in Indonesia. Lariba: Journal of Islamic Economics, 8(1), 66–84. https://doi.org/10.20885/jielariba.vol8.iss1.art5
  45. Rosavina, M., & Rahadi, R. A. (2018). Peer-to-peer (P2P) lending platform adoption for small, medium enterprises (SMEs): A Preliminary Study. International Journal of Accounting, Finance, and Business, 11(2). http://www.ijafb.com/PDF/IJAFB-2018-10-06-01.pdf
  46. Rosavina, M., Rahadi, R. A., Kitri, M. L., Nuraeni, S., & Mayangsari, L. (2019). P2P lending adoption by SMEs in Indonesia. Qualitative Research in Financial Markets. https://doi.org/10.1108/QRFM-09-2018-0103
  47. Ryu, H. S. (2018). What makes users willing or hesitant to use Fintech?: The moderating effect of user type. Industrial Management and Data Systems, 118(3). https://doi.org/10.1108/IMDS-07-2017-0325
  48. Sa’ad, A. A., Ahmad, K., & Saleh, A. O. H. (2019). P2P Islamic fintech investment innovation. A proposal of mushārakah smart contract model for SMEs financing and social development. Al-Shajarah: Journal of the International Institute of Islamic Thought and Civilization (ISTAC). https://journals.iium.edu.my/shajarah/index.php/shaj/article/view/901.
  49. Schierz, P. G., Schilke, O., & Wirtz, B. W. (2010). Understanding consumer acceptance of mobile payment services: An empirical analysis. Electronic Commerce Research and Applications, 9(3). https://doi.org/10.1016/j.elerap.2009.07.005
  50. Schifter, D. E., & Ajzen, I. (1985). Intention, perceived control, and weight loss. an application of the theory of planned behavior. Journal of Personality and social psychology, 49(3). https://doi.org/10.1037/0022-3514.49.3.843
  51. Shaikh, I. M., Qureshi, M. A., Noordin, K., Shaikh, J. M., Khan, A., & Shahbaz, M. S. (2020). Acceptance of Islamic financial technology (FinTech) banking services by Malaysian users: An extension of technology acceptance model. Foresight, 22(3), 367–383. https://doi.org/10.1108/FS-12-2019-0105
  52. Shih, Y. Y., & Fang, K. (2004). The use of a decomposed theory of planned behavior to study Internet banking in Taiwan. Internet Research, 10(3). https://doi.org/10.1108/10662240410542643
  53. Siddik, S. (2019). 2025 transaksi ekonomi digital indonesia bisa Rp 1.417 T. CNBC Indonesia. https://www.cnbcindonesia.com/tech/20190408161849-37-65239/2025-transaksi-ekonomi-digital-indonesia-bisa-rp-1417-t
  54. Stern, C., Makinen, M., & Qian, Z. (2017). FinTechs in China – with a special focus on peer-to-peer lending. Journal of Chinese Economic and Foreign Trade Studies, 10(3). https://doi.org/10.1108/JCEFTS-06-2017-0015
  55. Taylor, S., & Todd, P. (1997). Understanding the determinants of consumer composting behavior. Journal of Applied Social Psychology, 27(7). https://doi.org/10.1111/j.1559-1816.1997.tb00651.x
  56. Taylor, S., & Todd, P. A. (1995). Understanding information technology usage: A test of competing models. Information Systems Research, 6(2). https://doi.org/10.1287/isre.6.2.144
  57. Utama, S., & Ilahiyah, I. (2018). Pengembangan model low cost Islamic peer to peer financing berbasis financial technology untuk akselerasi kinerja UMKM. Islamic Economics Journal, 4(2). https://doi.org/10.21111/iej.v4i2.2966
  58. Venkatesh, V., Morris, M. G., Davis, G. B., & Davis, F. D. (2003). User acceptance of information technology: Toward a unified view. MIS Quarterly: Management Information Systems, 27(3). https://doi.org/10.2307/30036540
  59. Venkatesh, V., Thong, J. Y. L., & Xu, X. (2012). Consumer acceptance and use of information technology: Extending the unified theory of acceptance and use of technology. MIS Quarterly: Management Information Systems, 36(1), 157–178. https://doi.org/10.2307/41410412
  60. Wang, H., Chen, K., Zhu, W., & Song, Z. (2015). A process model on P2P lending. Financial Innovation. https://doi.org/10.1186/s40854-015-0002-9
  61. Yang, Z., & Fang, X. (2004). Online service quality dimensions and their relationships with satisfaction. International Journal of Service Industry Management, 15(3). https://doi.org/10.1108/09564230410540953