Efektivitas Pendidikan Karakter Islami terhadap Keputusan Investasi Syariah Mahasiswa

Raden Akhmad Haryo Kusumo; Muhammad Abdul Ilah

Authors

Raden Akhmad Haryo Kusumo Institut Agama Islam Al Khoziny Sidoarjo Author
Muhammad Abdul Ilah Institut Agama Islam Al Khoziny Sidoarjo Author

Keywords:

Islamic Character Education, Sharia Investment Decision, Student Investor Behavior, Islamic Financial Literacy, Theory of Planned Behavior

Abstract

This study examines the effectiveness of Islamic character education in shaping students’ sharia-compliant investment decisions. While the Islamic capital market in Indonesia has grown rapidly, the participation of young investors—particularly university students—remains inconsistent, reflecting a gap between financial knowledge and actual investment behavior. Drawing on behavioral finance and the Theory of Planned Behavior, this study positions Islamic character education as an educational construct that internalizes moral values such as trustworthiness (amanah), prudence, and ethical responsibility in financial decision-making. Using a quantitative explanatory design, data were collected from 210 undergraduate students who had received Islamic character education through formal coursework and campus culture. The data were analyzed using Partial Least Squares Structural Equation Modeling (SEM-PLS). The results indicate that Islamic character education has a positive and significant effect on students’ sharia investment decisions. The structural model explains 29 percent of the variance in investment decisions, suggesting a moderate yet meaningful contribution of character-based education beyond technical financial literacy. The findings highlight that students’ investment decisions are not driven solely by rational-economic considerations, but are also shaped by moral orientation and value internalization fostered through education. This study contributes to the literature by empirically integrating Islamic character education into the analysis of sharia investment behavior. Practically, the results suggest that universities and financial regulators should strengthen character-based education as a strategic foundation for developing ethical and sustainable young sharia investors.

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