The Influence of Islamic Capital Market Education and Literacy on Students’ Investment Activity in Digital Sharia Investment Platforms

Authors

  • Maulida Rahma Universitas Islam Negeri Sumatera Utara
  • Nur Ahmadi Bi Rahmani Universitas Islam Negeri Sumatera Utara
  • Yenni Samri Juliati Nasution Universitas Islam Negeri Sumatera Utara
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Keywords:

Literacy, Sharia Capital Market, Digital Sharia Investment

Abstract

Despite the growing number of students with sharia investment accounts, active participation in digital Islamic investment platforms remains limited indicating a gap between financial education and actual investment behavior. This study examines the influence of Islamic capital market education and literacy on students’ investment activity on digital sharia platforms. Using a quantitative explanatory approach, data were collected from 95 students in the fifth and seventh semesters of the Faculty of Islamic Economics and Business (FEBI) at UIN North Sumatra, selected through purposive sampling. Data were analyzed using multiple linear regression with SPSS version 27. The results show that Islamic capital market education has a positive but statistically non-significant effect on investment activity (β = 0.415; t = 1.726; Sig = 0.088). In contrast, Islamic capital market literacy has a positive and significant effect (β = 0.717; t = 3.274; Sig = 0.001), making it the most dominant predictor (standardized β = 0.463). Simultaneously, both variables significantly explain 46.5% of the variation in investment activity (F = 39.997; Sig= 0.000). These findings suggest that improving applied literacy not merely theoretical education is essential to stimulate active investment behavior, with practical implications for curriculum design, investment gallery programs, and Islamic fintech platform development targeting university students..

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Published

2026-06-26 — Updated on 2026-08-27

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Vol. 13 No. 1 (2026)

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