PENGARUH LITERASI KEUANGAN DAN TEKNOLOGI FINANSIAL TERHADAP MINAT INVESTASI GENERASI Z DI PASAR MODAL

Abstract

The rapid growth of digital technology has driven major transformation in the financial sector, including the emergence of financial technology (fintech) that broadens public access to investment services. Generation Z, as digital natives, holds great potential to participate in the capital market, yet the relatively low level of financial literacy among Indonesians compared to their level of financial inclusion remains a challenge to optimizing young people investment interest. Prior studies show inconsistent findings on the influence of financial literacy and financial technology on Generation Z investment interest, so this study re-examines the partial and simultaneous effects of both variables. The novelty of this study lies in testing the combined effect of financial literacy and financial technology on a sample of Generation Z university students, a context not yet widely examined simultaneously in previous research. This study employed an associative quantitative approach with a purposive sampling technique among Management students of Muhammadiyah University of Gresik, class of 2023, as the sample. Data were collected through a Likert scale questionnaire and analyzed using multiple linear regression with SPSS. The results show that financial literacy has a positive and significant effect on Generation Z investment interest, financial technology also has a positive and significant effect, and both variables simultaneously have a significant effect on investment interest. This study contributes to strengthening empirical evidence on the role of financial literacy and financial technology as two key pillars needed to encourage Generation Z participation in investing in the Indonesian capital market.