Developing a Shariah-compliant equity-based crowdfunding framework for entrepreneurship development in Malaysia
Joint Authors
Duasa, Jarita
Thakir, Muhammad Asmi Bin Muhad Thas
Rahman, Maya Puspa
Source
ISRA International Journal of Islamic Finance
Issue
Vol. 12, Issue 2 (31 Aug. 2020), pp.239-252, 14 p.
Publisher
International Shari'ah Research Academy for Islamic Finance
Publication Date
2020-08-31
Country of Publication
Malaysia
No. of Pages
14
Main Subjects
Abstract EN
Purpose-crowdfunding has become one of the preferred mechanisms to raise funds by startups and small entrepreneurs.
as such, this paper aims to develop an appropriate framework for Shariah-compliant equitybased crowdfunding (SEC) for entrepreneurship development in Malaysia.
design / methodology/approach-the research begins by analyzing the intention of 200 entrepreneurs in Kuala Lumpur and Selangor regarding the use of crowdfunding to raise capital.
the analysis is based on the theory of reasoned action (TRA), which is also associated with the technology acceptance model (TAM) and is effected by using structural equation modeling (SEM).
findings-the entrepreneurs agree on the ease of use of crowdfunding in raising capital, although it appeared that they are quite reluctant to share their business ideas online.
Subsequently, an SEC framework is proposed, to further enhance entrepreneurship development in Malaysia particularly in meeting the need for raising funds in line with Shariah (Islamic law) principles.
practical implications-this paper aims to contribute more to the development of a blueprint for an SEC platform for market players and regulators in Malaysia.
Social implications-this paper also aims to highlight the growing needs of entrepreneurs, particularly in Malaysia to have a Shariah-compliant alternative to raise funds via crowdfunding.
Originality / value-this paper makes two main contributions.
first, it provides evidence on Malaysian entrepreneurs’ intention to use crowdfunding for fundraising through TAM and SEM analysis.
Second, it proposes an SEC framework for the development of entrepreneurs in Malaysia.
American Psychological Association (APA)
Rahman, Maya Puspa& Thakir, Muhammad Asmi Bin Muhad Thas& Duasa, Jarita. 2020. Developing a Shariah-compliant equity-based crowdfunding framework for entrepreneurship development in Malaysia. ISRA International Journal of Islamic Finance،Vol. 12, no. 2, pp.239-252.
https://search.emarefa.net/detail/BIM-1430175
Modern Language Association (MLA)
Rahman, Maya Puspa…[et al.]. Developing a Shariah-compliant equity-based crowdfunding framework for entrepreneurship development in Malaysia. ISRA International Journal of Islamic Finance Vol. 12, no. 2 (2020), pp.239-252.
https://search.emarefa.net/detail/BIM-1430175
American Medical Association (AMA)
Rahman, Maya Puspa& Thakir, Muhammad Asmi Bin Muhad Thas& Duasa, Jarita. Developing a Shariah-compliant equity-based crowdfunding framework for entrepreneurship development in Malaysia. ISRA International Journal of Islamic Finance. 2020. Vol. 12, no. 2, pp.239-252.
https://search.emarefa.net/detail/BIM-1430175
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 251-252
Record ID
BIM-1430175