Cash Waqf Linked Sukuk Adoption Among Muslim Youth: Islamic Altruism as a Mediating Mechanism Across Generation Y and Generation Z (JRTI (Jurnal Riset Tindakan Indonesia))

Summary

• Data were collected from 391 Indonesian Muslim respondents from Generation Y and Z using a five-point Likert-scale questionnaire with 21 retained measurement items.p.1
• Income level (β = 0.568, p < 0.001), religiosity (β = 0.185, p = 0.001) and Islamic altruism (β = 0.147, p = 0.023) significantly predict intention to adopt Cash Waqf Linked Sukuk.p.1
• Islamic financial literacy has no significant direct effect on adoption intention (β = −0.065, p = 0.181).p.1
• Generation Y numbered 69.38 million individuals, or 25.87% of Indonesia's population, while Generation Z numbered 74.94 million, or 27.94%.p.2
• Of 412 responses, 21 outliers were excluded, leaving a final sample of 391.p.5
• The model explains intention with R² = 0.569 for the complete group, R² = 0.699 for Generation Y and R² = 0.440 for Generation Z.p.7

Key insights

1. Income level is the strongest predictor of intention to adopt Cash Waqf Linked Sukuk (β = 0.568, p < 0.001).p.1
2. Islamic financial literacy does not directly predict adoption intention (β = −0.065, p = 0.181), but it works through Islamic altruism.p.1
3. Generation Y was defined as born between 1981 and 1996 and Generation Z as born between 1997 and 2012.p.3
4. Professionals make up 54.0% of respondents and East Java is the largest province of residence at 32.0%.p.5
5. Composite reliability values range between 0.843 and 0.922, confirming internal consistency of the constructs.p.5
6. The model explains much more of the intention of Generation Y (R² = 0.699) than of Generation Z (R² = 0.440).p.7
7. In the Generation Y sample, Islamic altruism significantly affects adoption intention (β = 0.235, p < 0.05).p.8