The Role of Islamic Business Ethics and Financial Literacy in Investment Decision Making: A Mediation and Moderation Approach

Lusiana Afrianti, Zaenafi Ariani, Nur Fitri Hidayanti, Ahmad Hulaimi, Ahadiah Agustina, Novi Yanti Sandra Dewi

Abstract


Abstract: This study uses a qualitative approach with the Library Research method and Integrative Review technique to analyze the relationship between Islamic business ethics, financial literacy, attitudes towards risk, and investment decisions. Articles used as secondary data were obtained from reputable databases such as Google Scholar, Scispace, DOAJ, and Scopus, with publication criteria between 2015–2024, in English or Indonesian, and relevant to the research topic. The literature selection process includes abstract screening, keywords, and full-text review. Thematic analysis was conducted deductively to identify patterns of relationships between variables. The results of the study indicate that the integration of Islamic business ethics and financial literacy plays an important role in supporting wise investment decisions. Islamic business ethics provides a moral framework that ensures investment decisions are in accordance with sharia principles, while financial literacy improves investors' ability to evaluate risks and optimize asset allocation. The combination of these two aspects creates a balance between economic growth and social sustainability, making it relevant to both sharia and conventional markets. This study emphasizes the importance of strengthening financial literacy and implementing moral values as a fundamental strategy in building sustainable investment decisions. Further research to improve sustainable investment decision making.

 

 


Keywords


Islamic Business Ethics, Financial Literacy, Investment Decisions, Attitudes to Risk, Social Sustainability.

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References


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