Darman, Salim Ubud, Aisjah Siti, Indrawati Nur Khusniyah
This study aims are to understand and reveal: (1) investment decision-making behavior of success Muslim entrepreneurs in Central Sulawesi and (2) the role of religious values behind the success decision-making of Muslim entrepreneurs in Central Sulawesi. This research uses interpretive paradigm with phenomenology approach through following analysis stages: epoch, phenomenology reduction, and experiential variation, synthesis of explored meaning and harmonized using Al-Qur'an and Hadith, findings the propositions and models. The informants are success Muslim entrepreneurs in Indonesia who are focused in Central Sulawesi region. It consists of chicken breeding, cocoa plantation, marine fishery, shopping center, and hospitality services. Data collection is done through interviews, observations, and documentation. Criteria used in data validity are triangulation method, member checking and external audit. The study findings are follows:(1) Investment decision making of success Muslim entrepreneurs is based on intuition derived from Allah's guidance for His servants to get closer to Him and getting back to Him, and (2) Investment decision making behavior of success Muslim entrepreneurs is motivated by religious values reflected from the practices sunnah of zikr (value of Allah oneness, patience, and gratitude), fasting (value of honesty and social sensitivity), charity (zuhud, willingness, and social), and tahajud prayer (taqarrub and tawakkal value) which will purify the heart as a means to get the nur (light) from Allah. Based on comparison between this study results and theories of investment decision making (market efficiency hypothesis and behavioral finance theory), researchers are more confident to intuitive investment decision-making based on religious value. © 2017 Serials Publications Pvt. Ltd.
Tadulako University, Indonesia; Faculty of Economics and Business, University of Brawijaya, Indonesia
