Exploring the nexus: materialism value scales, TPB constructs, and debt intentions among young Malaysian Muslims

Md Shariff, Anita and Mohammed, Mustafa Omar and Ariffin, Muhammad Irwan (2023) Exploring the nexus: materialism value scales, TPB constructs, and debt intentions among young Malaysian Muslims. In: Terengganu International Business and Economics Conference 2023 (TiBÉC VIII), 30th - 31st October 2023, Terengganu, Malaysia (Virtual Conference).

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Abstract

Household debt can have detrimental effects on personal finances and society as a whole. The rise of consumerism has contributed to increasing levels of debt and financial instability. In predominantly Muslim nations like Malaysia, materialism can have distinct implications on debt behavior. This study employs the Materialism Values Scales to investigate the multifaceted influence of materialism on debt intentions among Malaysian Muslims by assessing its impact on three key dimensions of the Theory of Planned Behavior (TPB). 348 young adult Muslims participated in a self-administered survey. Partial Least Square Structural Equation Modeling was used to analyze the data. The findings indicate a high level of materialism among respondents and demonstrate that materialism significantly influences all three dimensions of TPB, with centrality showing a notable impact across all three dimensions. The results further show that only attitude and lack of self control significantly influence borrowing intention. The findings offer valuable insights into mitigating materialistic tendencies and fostering a culture of responsible borrowing, thereby promoting financial sustainability.

Item Type:	Proceeding Paper (Invited Papers)
Uncontrolled Keywords:	Household debt, Muslim debt behavior, borrowing intention, Materialism Values Scales, TPB.
Subjects:	BPH Islamic Economics BPH Islamic Economics > BPH106.3 Consumption. Principles of consumption. Halalan toyyiban H Social Sciences > HG Finance > HG179 Personal finance H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance H Social Sciences > HG Finance > HG3691 Credit
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences Kulliyyah of Economics and Management Sciences > Department of Economics
Depositing User:	Muhammad Irwan Ariffin
Date Deposited:	24 Jan 2024 14:49
Last Modified:	24 Jan 2024 15:31
URI:	http://irep.iium.edu.my/id/eprint/110471

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