Examining the behavioral intention to participate in a Cash Waqf-Financial Cooperative-Musharakah Mutanaqisah home financing model

Purpose – The purpose of this paper is to investigate the Malaysian homeowners’ intention to participate in the Cash Waqf-Financial Cooperative-Musharakah Mutanaqisah (CWFCMM) home financing model using rigorous scale validation procedures. Design/methodology/approach – An adapted questionnaire w...

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Main Authors:	Md Zabri, Mohd Zaidi, Mohammed, Mustafa Omar
Format:	Article
Language:	English English English
Published:	Emerald Group Publishing Ltd. 2018
Subjects:	BP173.75 Islam and economics HG1501 Banking HG3368 Islamic Banking and Finance
Online Access:	http://irep.iium.edu.my/65532/ http://irep.iium.edu.my/65532/ http://irep.iium.edu.my/65532/ http://irep.iium.edu.my/65532/1/65532_Examining%20the%20behavioral_article.pdf http://irep.iium.edu.my/65532/2/65532_Examining%20the%20behavioral_scopus.pdf http://irep.iium.edu.my/65532/13/65532%20Examining%20the%20behavioral%20intention%20to%20participate%20in%20a%20Cash%20Waqf-Financial%20Cooperative-Musharakah%20Mutanaqisah%20home%20financing%20model_wos.pdf

id	iium-65532
recordtype	eprints
spelling	iium-655322019-01-24T03:36:35Z http://irep.iium.edu.my/65532/ Examining the behavioral intention to participate in a Cash Waqf-Financial Cooperative-Musharakah Mutanaqisah home financing model Md Zabri, Mohd Zaidi Mohammed, Mustafa Omar BP173.75 Islam and economics HG1501 Banking HG3368 Islamic Banking and Finance Purpose – The purpose of this paper is to investigate the Malaysian homeowners’ intention to participate in the Cash Waqf-Financial Cooperative-Musharakah Mutanaqisah (CWFCMM) home financing model using rigorous scale validation procedures. Design/methodology/approach – An adapted questionnaire with 26 items was administered to 382 academic and supporting staffs, postgraduate and undergraduate students in three states in Malaysia. The data were analyzed using exploratory factor analysis and confirmatory factor analysis with SPSS 21 and AMOS 21, respectively. Findings – The results further support the parsimonious nature theory of planned behavior (TPB) with its three original construct of attitude, subjective norm, and perceived behavioral control and an additional construct of perceived cost advantages of the CWFCMM Model. A validated TPB scale with 24 items measured can be proposed to be used as an evaluative tool to assess the level to which the homeowners are interested to participate in the CWFCMM Model. Research limitations/implications – The modified TPB scale would also facilitate the identifications of factors that influence homeowners’ intention to opt for Islamic home financing (IHF) by non-bank Islamic financial institutions such as financial cooperative. Practical implications – The CWFCMM Model aims to harness the potential synergy between third-sector economy players such as waqf and financial cooperatives in offering affordable IHF solution to potential homeowners. Social implications – The CWFCMM Model may enable the Malaysian homeowners to enjoy a more affordable IHF solution, thereby, among others, reducing the purchase and monthly repayment affordability of Malaysians. Originality/value – There is a dearth of Islamic financial services selection studies, especially within the non-banking, Islamic financial services milieu. The CWFCMM Model, which has been developed by the authors, enriches the limited literature on this subject matter. It will also add value to understand how the customers would react to an alternative IHF provider Emerald Group Publishing Ltd. 2018-06-11 Article NonPeerReviewed application/pdf en http://irep.iium.edu.my/65532/1/65532_Examining%20the%20behavioral_article.pdf application/pdf en http://irep.iium.edu.my/65532/2/65532_Examining%20the%20behavioral_scopus.pdf application/pdf en http://irep.iium.edu.my/65532/13/65532%20Examining%20the%20behavioral%20intention%20to%20participate%20in%20a%20Cash%20Waqf-Financial%20Cooperative-Musharakah%20Mutanaqisah%20home%20financing%20model_wos.pdf Md Zabri, Mohd Zaidi and Mohammed, Mustafa Omar (2018) Examining the behavioral intention to participate in a Cash Waqf-Financial Cooperative-Musharakah Mutanaqisah home financing model. Managerial Finance, 44 (6). pp. 809-829. ISSN 0307-4358 E-ISSN 1758-7743 https://www.emeraldinsight.com/doi/pdfplus/10.1108/MF-05-2017-0189 10.1108/MF-05-2017-0189
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English English
topic	BP173.75 Islam and economics HG1501 Banking HG3368 Islamic Banking and Finance
spellingShingle	BP173.75 Islam and economics HG1501 Banking HG3368 Islamic Banking and Finance Md Zabri, Mohd Zaidi Mohammed, Mustafa Omar Examining the behavioral intention to participate in a Cash Waqf-Financial Cooperative-Musharakah Mutanaqisah home financing model
description	Purpose – The purpose of this paper is to investigate the Malaysian homeowners’ intention to participate in the Cash Waqf-Financial Cooperative-Musharakah Mutanaqisah (CWFCMM) home financing model using rigorous scale validation procedures. Design/methodology/approach – An adapted questionnaire with 26 items was administered to 382 academic and supporting staffs, postgraduate and undergraduate students in three states in Malaysia. The data were analyzed using exploratory factor analysis and confirmatory factor analysis with SPSS 21 and AMOS 21, respectively. Findings – The results further support the parsimonious nature theory of planned behavior (TPB) with its three original construct of attitude, subjective norm, and perceived behavioral control and an additional construct of perceived cost advantages of the CWFCMM Model. A validated TPB scale with 24 items measured can be proposed to be used as an evaluative tool to assess the level to which the homeowners are interested to participate in the CWFCMM Model. Research limitations/implications – The modified TPB scale would also facilitate the identifications of factors that influence homeowners’ intention to opt for Islamic home financing (IHF) by non-bank Islamic financial institutions such as financial cooperative. Practical implications – The CWFCMM Model aims to harness the potential synergy between third-sector economy players such as waqf and financial cooperatives in offering affordable IHF solution to potential homeowners. Social implications – The CWFCMM Model may enable the Malaysian homeowners to enjoy a more affordable IHF solution, thereby, among others, reducing the purchase and monthly repayment affordability of Malaysians. Originality/value – There is a dearth of Islamic financial services selection studies, especially within the non-banking, Islamic financial services milieu. The CWFCMM Model, which has been developed by the authors, enriches the limited literature on this subject matter. It will also add value to understand how the customers would react to an alternative IHF provider
format	Article
author	Md Zabri, Mohd Zaidi Mohammed, Mustafa Omar
author_facet	Md Zabri, Mohd Zaidi Mohammed, Mustafa Omar
author_sort	Md Zabri, Mohd Zaidi
title	Examining the behavioral intention to participate in a Cash Waqf-Financial Cooperative-Musharakah Mutanaqisah home financing model
title_short	Examining the behavioral intention to participate in a Cash Waqf-Financial Cooperative-Musharakah Mutanaqisah home financing model
title_full	Examining the behavioral intention to participate in a Cash Waqf-Financial Cooperative-Musharakah Mutanaqisah home financing model
title_fullStr	Examining the behavioral intention to participate in a Cash Waqf-Financial Cooperative-Musharakah Mutanaqisah home financing model
title_full_unstemmed	Examining the behavioral intention to participate in a Cash Waqf-Financial Cooperative-Musharakah Mutanaqisah home financing model
title_sort	examining the behavioral intention to participate in a cash waqf-financial cooperative-musharakah mutanaqisah home financing model
publisher	Emerald Group Publishing Ltd.
publishDate	2018
url	http://irep.iium.edu.my/65532/ http://irep.iium.edu.my/65532/ http://irep.iium.edu.my/65532/ http://irep.iium.edu.my/65532/1/65532_Examining%20the%20behavioral_article.pdf http://irep.iium.edu.my/65532/2/65532_Examining%20the%20behavioral_scopus.pdf http://irep.iium.edu.my/65532/13/65532%20Examining%20the%20behavioral%20intention%20to%20participate%20in%20a%20Cash%20Waqf-Financial%20Cooperative-Musharakah%20Mutanaqisah%20home%20financing%20model_wos.pdf
first_indexed	2023-09-18T21:32:59Z
last_indexed	2023-09-18T21:32:59Z
_version_	1777412635152613376

Examining the behavioral intention to participate in a Cash Waqf-Financial Cooperative-Musharakah Mutanaqisah home financing model

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