Yayuli

This study aims to build a framework for the variables affecting interest in sharia e-commerce, such as attitude, subjective norms, perceived behavior control, perceived usefulness, perceived ease of use, and religiosity. Using a convenience sampling method, this analysis involved 212 young people, who represent the most significant proportion of e-commerce clients. The survey measurements and hypotheses testing used the partial least square structural equation modeling (PLS-SEM) approach. The results of the study show that attitude (ß = 0.261, p = 0.000), subjective norm (ß = 0.264, p = 0.000), perceived usefulness (ß = 0.241, p = 0.013), and perceived ease of use (ß = 0.185, p = 0.032) have a positive relationship with intention to use sharia e-commerce for youths. In addition, perceived ease of use (ß = 0.759, p = 0.000) also significantly affects perceived usefulness as a moderator to intention. In comparison, perceived behavior control (ß = –0.042, p = 0.505) was an insignificant factor in using sharia e-commerce. This study also shows that religiosity (ß = 0.648, p = 0.000) is essential in a person’s attitude toward intending to use sharia e-commerce. The insignificant relationship between perceived behavior control and intention to use sharia e-commerce is believed to be because both conventional and sharia e-commerce are easily operated. Thus, youth people have not noticed many differences in using sharia e-commerce.

This study aims to examine the spillover and contagion effects of global financial markets on the Indonesian Sharia Stock Index (ISSI) post-COVID-19. The study uses the Vector Error Correction Model method to explore the short-term and long-term relationships between ISSI and global financial markets. The data used in this study are time series data, namely the ISSI and several other countries that have a significant influence on the global economy, which were observed from May to July 2022. The results of the study show that the USD has a positive influence on ISSI in the short and long term. At the same time, the JPY and HKD have a negative influence on ISSI. The GBP and SGD do not have a significant influence on ISSI developments. The economic, business and financial sectors began to adjust after the COVID-19 pandemic ended, including the Indonesian Sharia Stock Index. Contagion occurs from one country’s financial system to another, which is influenced by aspects of volatility, exchange rates, the global crisis, the stock market, and stock indices. It is considered that this study can help the government to adjust better conditions of Islamic stocks in Indonesia.

Acknowledgment
The authors would like to thank the Research and Innovation Institute (LRI), Universitas Muhammadiyah Surakarta, for the enormous financial support in writing this study through the HIT funding scheme with number 02/A.6-II/FAI/1/2022.