Journal of Nonformal Education
Vol. 12 No. 1 (2026): Community empowerment and Adult education

The Influence of Capital Market Training, Investment Knowledge, and Investment Benefits on Investment Interest Among Students in Religious Higher Education Institutions

Bernando, Franky Okto (Unknown)
Pringgondani, Pringgondani (Unknown)
Nugraha, Deni Pandu (Unknown)



Article Info

Publish Date
06 Mar 2026

Abstract

Background: Indonesia's capital market faces a critical challenge with foreign investors dominating 51.99% of top issuers, highlighting an urgent need to cultivate domestic investor participation. Research Objectives: This study investigates how capital market training, investment knowledge, and perceived benefits influence investment interest among students in Islamic universities, aiming to identify effective strategies for faith-based financial education. Research Method: Employing a quantitative approach, we surveyed 136 members of Sharia Investment Galleries across three state Islamic universities (UIN Jakarta, Bandung, and Banten) and analyzed data using PLS-SEM. Research Findings: The findings highlight the psychological importance of perceived returns and value creation as key influencers. At the same time, it also reveals the effectiveness of Sharia-compliant investment benefits in religious academic settings, where ethical alignment strengthens financial engagement. These insights underscore the interplay of cognitive preparation and value-driven incentives in fostering sustainable investment participation, offering valuable guidance for financial educators and policymakers aiming to promote informed and motivated investment decisions. Conclusion: The study concludes that capital market training, investment knowledge, and perceived benefits significantly enhance investment interest. Additionally, emphasizing the advantages of Sharia-compliant investments proves particularly effective in religious academic environments. Novelty/Originality/Value: This study pioneers the validation of capital market training (KSPM) in Islamic universities, revealing how religious values shape investment behavior. It introduces the groundbreaking Faith-Smart KSPM framework, blending Islamic finance principles with modern investment education to develop ethical investors. The findings offer regulators a strategic approach to boost domestic investment while aligning with Indonesia's financial sovereignty goals.

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Journal Info

Abbrev

jone

Publisher

Subject

Education

Description

Journal of Nonformal Education is an journal with open access, a journal supported by a board of experts from various ...