Mapping the brain in finance: the neurological basis of Muslim investor behavior

Abstract

Purpose– Thisstudyaims to delveintothe pivotal role of neurotransmitters in the financial decision-making of a Muslim investor and their interaction with information sources, shedding light on the cognitive dimensions driving Muslim investment behaviors. In addition, this study explores the moderating role of emotional intelligence (EI) in this context. Design/methodology/approach– This study collected data from 719 retail and institutional investors in f inancial and stock markets through a close-ended questionnaire. Data analysis was conducted using partial least squares structural equation modeling. Findings– This research uncovers a significant association between neurotransmitters, information sources and investment decisions. Interestingly, this study found that EI does not significantly moderate the relationship between neurotransmitters and Muslim investment choices. Originality/value– This research validates the pivotal role of neurotransmitters in financial decision-making, highlighting the cognitive biases that drive Muslim investment behaviors. It contributes to understanding cognitive mechanisms in the context of neuroscientific financial exploration, offering new perspectives in this field.