STOCK INVESTMENT INTENTIONS AMONG GENERATION Z: THE INTEGRATION OF FINANCIAL LITERACY, TECHNOLOGICAL ACCESS, AND INTRINSIC MOTIVATION
DOI:
https://doi.org/10.35145/procuratio.v14i1.5879Keywords:
Investment Knowledge, Information Technology, Minimum Capital, Investment Motivation, Investment Interest, Pengetahuan Investasi, Teknologi Informasi, Modal Minimum, Motivasi Investasi, Minat InvestasiAbstract
This study investigates the determinants of stock investment interest in public university students in Pekanbaru City with a focus on the variables of investment knowledge, information technology, minimum capital, and investment motivation. Using a quantitative approach through a survey of 156 respondents and data were analyzed with multiple linear regression. The findings of the study revealed that investment knowledge and investment motivation have a significant and positive influence on investment interest. In contrast, advances in information technology and minimal capital policies have not shown an influence. These results imply the importance of strengthening financial literacy rather than simply digitising platforms for online investment companies to attract young investors.
Penelitian ini mengkaji faktor-faktor yang memengaruhi minat investasi saham pada mahasiswa perguruan tinggi negeri di Kota Pekanbaru dengan fokus pada variabel pengetahuan investasi, teknologi informasi, modal minimum, dan motivasi investasi. Penelitian ini menggunakan pendekatan kuantitatif melalui survei terhadap 156 responden, dengan data yang dianalisis menggunakan regresi linier berganda. Hasil penelitian menunjukkan bahwa pengetahuan investasi dan motivasi investasi berpengaruh positif dan signifikan terhadap minat investasi. Sebaliknya, perkembangan teknologi informasi dan kebijakan modal minimum tidak menunjukkan pengaruh yang signifikan. Temuan ini mengindikasikan pentingnya penguatan literasi keuangan dibandingkan sekadar digitalisasi platform bagi perusahaan investasi online dalam menarik minat investor muda.
Downloads
References
Adela Putri, S., Hariyanto, D., & Ramdhan Ryanto, F. (2023). The Influence of Investment Knowledge and Minimum Investment Capital on Investment Interest in The Capital Market. Journal of World Science, 2(10), 1599–1609. https://doi.org/10.58344/jws.v2i10.437
Adiningtyas, S., & Hakim, L. (2022). The Effect of Investment Knowledge, Motivation, and Pocket Money on Students' Interest in Investing in the Sharia Capital Market with Investment Risk as an Intervening Variable. Jurnal Ilmiah Ekonomi Islam, 1(8), 474–482. https://ojs.rewangrencang.com/index.php/JHLG/article/view/103
Agestina, N. I., Amin, M., & Anwar, S. A. (2020). Analysis of the Influence of Minimal Capital, Investment Understanding and Information Technology on Students' Interest in Investing in the Capital Market Reviewed from the Perspective of Islamic Economics (Study on Students of the Faculty of Economics and Business, Islamic University of Malang). E-JRA, 09(01), 60–68.
Atika, S., & Nilwan, A. (2022). Pengaruh Motivasi dan Kemajuan Teknologi Informasi terhadap Minat Investasi Saham. Jurnal EMA, 7(1), 43–54. https://doi.org/10.47335/ema.v7i1.113
Devy, H. S., Syamsuddin, Rahmawati, N. F., & Zahra, F. (2023). Investment Knowledge, Risk Perception, Technology Advances, and Investment Interest of the Z-Generation. Jurnal Manajemen Dan Keuangan, 12(2), 255–265. https://doi.org/10.33059/jmk.v12i2.7398
Firdaus, R. A., & Ifrochah, N. (2022). The Influence of Investment Knowledge and Investment Motivation on the Investment Interest of STAN State Financial Polytechnic Students in the Capital Market. Jurnal Acitya Ardana, 2(1), 16–29. https://doi.org/10.31092/jaa.v2i1.1434
Gultom, P., Wulandari, A., & Rahmadhina, N. M. (2024). The Effect of Financial Literacy and Investment Motivation on Investment Interest. Jurnal Ilmiah Manajemen Kesatuan, 12(3), 783–796. https://doi.org/10.37641/jimkes.v12i3.2607
Halim, M., Aspirandi, R. M., & Pradana, Y. W. A. (2022). The Effect of Risk Perception, Investment Motivation, Minimum Capital and Investment Knowledge on Investment Interest in the Capital Market in Students of the Faculty of Economics and Business, University of Muhammadiyah Jember. Jurnal Riset Bisnis Dan Investasi, 8(1), 1–16.
Hutasoit, A. H., & Ginting, L. T. (2021). Effect of Information Technology, Investment Knowledge and Financial Literacy on the Millennial Generation's Interest in the Capital Market. Jurnal Mantik, 5(2), 1700–1707. https://www.ejournal.iocscience.org/index.php/mantik/article/view/1528
IDX. (2025). The Number of Capital Market Investors Exceeds 17 Million, New Investors Exceed 2 Million. Press Release. PR No: 0053/BEI.SPR/07-2025. https://www.idx.co.id/id/berita/siaran-pers/2409.
Karatri, R. H., Faidah, F., & Lailyah, N. (2021). Determinants of the Millennial Generation's Interest in Capital Market Investment during the COVID-19 Pandemic. Jurnal Ilmiah Manajemen Dan Bisnis, 6(2), 35–52. https://doi.org/10.38043/jimb.v6i2.3193
Kurniawan, R., Rambe, R., & Sihombing, A. (2023). Build financial freedom based on the perspective of the cashflow quadrant. Jurnal Pengabdian Pada Masyarakat, 1(2), 113–116.
Larasati, R. K., & Yudiantoro, D. (2022). The Influence of Financial Literacy, Information Technology Advancement, and Minimal Capital on Capital Market Investment Interest. Jurnal Investasi, 8(2), 55–64. https://doi.org/10.31943/investasi.v8i2.206
Lusiana, W., Widya, A. P., Hwihanus, & Ratnawati, T. (2023). The Influence of Financial Literacy, Financial Behaviour, Money Mindset on Financial Freedom and Welfare in the Millennial Generation in the City of Surabaya. Musytari: Neraca Manajemen, Akuntansi, Dan Ekonomi, 3(5), 1–20. https://doi.org/https://doi.org/10.8734/musytari.v3i5.1754
Nadeak, T., Purnama, B. S., Sari, I. P., & Dariah. (2024). The Effect of Investment Understanding and Minimal Capital on Students' Interest in Investing in the Capital Market (Case Study on Financial Management Students 2019, Universitas Buana Perjuangan Karawang). Jurnal Akuntansi Dan Keuangan West Science, 3(01), 71–95. https://doi.org/10.58812/jakws.v3i01.867
Nadila, D., Silfia, Hidayaty, D. E., & Mulyadi, D. (2023). Investment Understanding, Investment Motivation, and Investment Interest in the Capital Market. Jurnal Pijar Studi Manajemen Dan Bisnis, 1(3), 104–109. https://e-journal.naureendigition.com/index.php/pmb
Negara, A. K., & Febrianto, H. G. (2020). The Influence of Information Technology Advances and Investment Knowledge on the Investment Interest of the Millennial Generation in the Capital Market. Business Management Journal, 16(2), 81–95. https://doi.org/10.30813/bmj.v16i2.2360
PPID. (2024). The Capital Market Industry in Riau Throughout the Early 2024 Growth Significantly. Mediacenter Riau. https://ppid.riau.go.id/berita/14051/industri-pasar-modal-di-riau-sepanjang-awal-2024-tumbuh-signifikan#:~:text=PEKANBARU%20%2D%20Otoritas%20Jasa%20Keuangan%20(OJK)%20Provinsi,didasarkan%20pada%20indikator%20pertumbuhan%20jumlah%20Single%20Investor
Putri, N. K. A., & Indriyanti, A. D. (2021). The Application of the PIECES Framework as an Evaluation of Student Satisfaction Level on the Use of the Integrated Academic Information System (SIAKADU) at Universitas Negeri Surabaya. Journal of Emerging Information Systems and Business Intelligence (JEISBI), 2(2), 78–84. https://ejournal.unesa.ac.id/index.php/JEISBI/article/view/39730%0Ahttps://ejournal.unesa.ac.id
Romadon, A. S. (2023). The Effect of Investment Knowledge, Minimum Investment Capital, and Motivation on Investment Interest. Jurnal Ekonomi Dan Bisnis Airlangga, 33(2), 245–256. https://doi.org/10.20473/jeba.v33i22023.245-256
Sabda Ar Rahman, R. E., & Subroto, W. T. (2022). The Influence of Motivation and Knowledge on Investment Interest in the Capital Market among Students. JPEKA: Jurnal Pendidikan Ekonomi, Manajemen Dan Keuangan, 6(1), 41–54. https://doi.org/10.26740/jpeka.v6n1.p41-54
Siri, G. R., & Meirini, D. (2021). The Influence of Investment Capital, Adequate Technology, and Motivation on Students' Interest in Investing in the Capital Market. SOSEBI Jurnal Penelitian Mahasiswa Ilmu Sosial Ekonomi Dan Bisnis Islam, 1(1), 1–13. https://doi.org/10.21274/vol.1/no.1/2021
Sukiyaningsih, T. W., & Hasanah, A. N. (2022). Training on Preparing Pocket Money Budgets as an Effort for Student Financial Freedom. KUAT: Keuangan Umum dan Akuntansi Terapan. https://jurnal.pknstan.ac.id/index.php/KUAT/article/view/1756%0Ahttps://jurnal.pknstan.ac.id/index.php/KUAT/article/download/1756/974
Widati, S., Wulandari, E., & Putriliawati, A. (2022). Analysis of the Influence of Investment Knowledge, Investment Motivation, Investment Return and Investment Risk on Students' Interest in Investing in the Capital Market. Seminar Nasional Pariwisata Dan Kewirausahaan (SNPK), 1(1), 483–491. https://doi.org/10.36441/snpk.vol1.2022.78
Wulandari, J., Wardianto, K. B., Suripto, & Efendi, N. (2023). Increasing Investment Knowledge in the Capital Market in the Yasmin Young Community. GERVASI: Jurnal Pengabdian Kepada Masyarakat, 7(3), 1057–1066.
Yuliati, R., Amin, M., & Anwar, S. A. (2020). The Effect of Investment Motivation, Minimum Investment Capital, Investment Knowledge, and Investment Return on Investment Interest in the Capital Market. Journal of Physics A: Mathematical and Theoretical, 9(3), 32–48.
Yusuf, M. (2019). The Influence of Technological Advances and Knowledge on the Interest of the Millennial Generation in Investing in the Capital Market. Jurnal Dinamika Manajemen Dan Bisnis, 2(2), 1–13. https://doi.org/10.21009/jdmb.02.2.3
Zainal, R. I., Lianda, O., Oktavianti, S., & Haqiqi, T. M. (2024). Effect of Investment Motivation and Knowledge on Student Investment Interest in the Capital Market. International Journal of Finance Research, 5(2), 239–251. https://doi.org/10.47747/ijfr.v5i2.1961
Downloads
Published
Issue
Section
License
Copyright (c) 2026 Procuratio : Jurnal Ilmiah Manajemen
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
