Behavioral Determinants of Students' Participation in Digital Cash Waqf for Sustainable Higher Education

Abstract

Sustainable financing has become an increasingly important concern for higher education institutions as rising operational costs and constrained public funding challenge long-term institutional sustainability. In response, digital cash waqf has emerged as an innovative educational philanthropy mechanism with the potential to support scholarships, research, and broader university development within Muslim-majority societies. This study investigates the behavioural determinants influencing students' participation in digital cash waqf for sustainable higher education. A quantitative cross-sectional survey was conducted among 280 university students in Malaysia, and the data were analysed using Partial Least Squares Structural Equation Modelling (PLS-SEM). The results reveal that religiosity, financial readiness, trust in waqf institutions, knowledge of digital cash waqf, and digital platform accessibility all exert significant positive effects on students' participation intention, with religiosity and institutional trust emerging as the strongest predictors. By integrating behavioural, institutional, and technological determinants within a unified explanatory framework, this study extends the Theory of Planned Behaviour and reconceptualises digital cash waqf as an educational philanthropy mechanism that supports sustainable higher education rather than solely an instrument of Islamic social finance. The findings provide practical implications for universities, waqf institutions, and policymakers seeking to strengthen alternative university financing through digitally enabled philanthropic initiatives.