The Influence of Financial Literacy, Risk Perception, and Social Media Influencers on Gen-Z Investment Interest in Sidoarjo
Pengaruh Literasi Keuangan, Persepsi Risiko, dan Social Media Influencer Terhadap Minat Investasi Gen-Z di Sidoarjo
DOI:
https://doi.org/10.21070/ups.9721Keywords:
Financial Management, Investment, Generasi ZAbstract
This study analyzes the influence of financial literacy, risk perception, and social media influencers on Generation Z’s investment interest in Sidoarjo Regency. The research addresses gaps in previous studies by considering local context and unique psychological characteristics of young investors. An explanatory quantitative approach was applied using primary data collected through Likert-scale questionnaires from Generation Z respondents who have and have not invested in the stock market. A total of 96 respondents were selected using the Lemeshow formula. Data were analyzed using Structural Equation Modeling with a Partial Least Square approach through SmartPLS version 3.0. The results indicate that financial literacy, risk perception, and social media influencers explain 44.1% of the variance in investment interest. Partially, financial literacy and social media influencers have a positive and significant effect, while risk perception shows a positive but relatively small contribution among Generation Z investors in Sidoarjo Regency.
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