Do Interest-Free Financial Organizations Offer Fair Prices to Their Customers?
This study seeks to observe whether or not the financial instruments offered by the interest-free financial institutions cause a dilemma in generating fair prices for the consumers. Additionally, it also attempts to provide a comparative framework towards cost-free and accessible financial offers in...
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| Format: | Article |
| Language: | English |
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Istanbul University Press
2022-07-01
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| Series: | İktisat Politikası Araştırmaları Dergisi |
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| Online Access: | https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/62ADCFDAA21943EDA0483C5AF7FD2AFE |
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| _version_ | 1850035119345106944 |
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| author | Abdullah Mesut Uçar |
| author_facet | Abdullah Mesut Uçar |
| author_sort | Abdullah Mesut Uçar |
| collection | DOAJ |
| description | This study seeks to observe whether or not the financial instruments offered by the interest-free financial institutions cause a dilemma in generating fair prices for the consumers. Additionally, it also attempts to provide a comparative framework towards cost-free and accessible financial offers in terms of loaning by both conventional and participation banks. As part of the study, a 34-item questionnaire has been drafted to identify the consumer behaviors within the framework of a theory of fair consumer behavior. To test the validity and reliability of the scale, exploratory factor analysis and cronbach alfa tests were utilized. Based on the findings in the test, 28 items were included in the analysis. Subsequently, multiple regression analysis was performed between four factors identified in conjunction with the exploratory factor analysis. The results confirm the hypotheses offered for the theory of fair consumer behavior. In other words, the study concludes that the interest-free financial institutions, serving as alternatives to the interest-based financial system, attract the fair financial system perceptions of the consumers not just because they offer interest-free products and services, but also because of additional factors. |
| format | Article |
| id | doaj-art-ebccee0de09e4b46854bfb9f20af8316 |
| institution | DOAJ |
| issn | 2148-3876 |
| language | English |
| publishDate | 2022-07-01 |
| publisher | Istanbul University Press |
| record_format | Article |
| series | İktisat Politikası Araştırmaları Dergisi |
| spelling | doaj-art-ebccee0de09e4b46854bfb9f20af83162025-08-20T02:57:35ZengIstanbul University Pressİktisat Politikası Araştırmaları Dergisi2148-38762022-07-019249552110.26650/JEPR1047547123456Do Interest-Free Financial Organizations Offer Fair Prices to Their Customers?Abdullah Mesut Uçarhttps://orcid.org/0000-0001-6039-2497This study seeks to observe whether or not the financial instruments offered by the interest-free financial institutions cause a dilemma in generating fair prices for the consumers. Additionally, it also attempts to provide a comparative framework towards cost-free and accessible financial offers in terms of loaning by both conventional and participation banks. As part of the study, a 34-item questionnaire has been drafted to identify the consumer behaviors within the framework of a theory of fair consumer behavior. To test the validity and reliability of the scale, exploratory factor analysis and cronbach alfa tests were utilized. Based on the findings in the test, 28 items were included in the analysis. Subsequently, multiple regression analysis was performed between four factors identified in conjunction with the exploratory factor analysis. The results confirm the hypotheses offered for the theory of fair consumer behavior. In other words, the study concludes that the interest-free financial institutions, serving as alternatives to the interest-based financial system, attract the fair financial system perceptions of the consumers not just because they offer interest-free products and services, but also because of additional factors.https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/62ADCFDAA21943EDA0483C5AF7FD2AFEconsumer behaviorislamic bankingbehavioral financeexploratory factor analysisislamic finance |
| spellingShingle | Abdullah Mesut Uçar Do Interest-Free Financial Organizations Offer Fair Prices to Their Customers? İktisat Politikası Araştırmaları Dergisi consumer behavior islamic banking behavioral finance exploratory factor analysis islamic finance |
| title | Do Interest-Free Financial Organizations Offer Fair Prices to Their Customers? |
| title_full | Do Interest-Free Financial Organizations Offer Fair Prices to Their Customers? |
| title_fullStr | Do Interest-Free Financial Organizations Offer Fair Prices to Their Customers? |
| title_full_unstemmed | Do Interest-Free Financial Organizations Offer Fair Prices to Their Customers? |
| title_short | Do Interest-Free Financial Organizations Offer Fair Prices to Their Customers? |
| title_sort | do interest free financial organizations offer fair prices to their customers |
| topic | consumer behavior islamic banking behavioral finance exploratory factor analysis islamic finance |
| url | https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/62ADCFDAA21943EDA0483C5AF7FD2AFE |
| work_keys_str_mv | AT abdullahmesutucar dointerestfreefinancialorganizationsofferfairpricestotheircustomers |