The effect of Islamic work ethics on small business owners' financial investment behavior: Case study of OSTİM

This study aims to analyze the financial investment behavior and work ethics relationships of small business owners in terms of tendency for financial risk, work ethics, entrepreneurship, and religious belief relations and within the context of Weber's theoretical framework. In the study, 20 SME owners in OSTIM were interviewed, and the data were analyzed with qualitative analysis procedures. Regarding the obtained data and research question, it was concluded that the secular small business owners who define themselves as Muslims possess work ethics that is compatible with the principles of Islamic work ethics, and they have a high tendency for financial risk. Besides, the economic conjuncture generally affects their financial investment behaviors, and they show an altruist approach to entrepreneurship. Considering the research results within Weber's theoretical framework, it is evident that the work ethic perceptions of small business owners did not entirely match Weber's two senses of ethics which are categorized as Calvinist and Islamic, and Weber's claim about the incompatibility between Islam and capitalism was not valid in terms of the results.