Determinants of Investment Interest of Generation Z Madiun Residency in the Sharia Capital Market
Main Article Content
Mukti Prasaja
Amri Amrulloh
Permatasari Cahyaningdyah
Lanuda Auraria Natcwata
This study aims to analyze the factors that affect investment in the Sharia Capital Market. The research variables used in this study include financial inclusion, environment, investment interest and fintech moderation. The research methodology used is quantitative research with a type of causality study which is to determine the cause and effect of the hypothesis that has been determined. The respondents used in the study were generation Z in Madiun using purposive sampling techniques. Data collection using a questionnaire that is structured using a Likert scale. The results of the study showed that the variable that had a significant effect on investment interest was environmental awareness, while financial inclusion had no effect. Furthermore, for Islamic Financial Inclusion on investment interest when mediated by fintech, it produces a higher value than the direct influence of financial inclusion variables on investment interest. And the environment awaraness towards investment interest when mediated by fintech produces a higher value than the direct influence of the variable environment awaraness on investment interest.
Addoum, Jawad M., and Alok Kumar. 2016. Political Sentiment and Predictable Returns. Review of Financial Studies. Vol. 29. https://doi.org/10.1093/rfs/hhw066.
Adhitya Wulanata, Imanuel. 2017. “Analisis SWOT Implementasi Teknologi Finansial Terhadap Kualitas Layanan Perbankan Di Indonesia.” Jurnal Ekonomi Dan Bisnis 20 (1): 133–44. https://core.ac.uk/download/pdf/190864220.pdf.
Affan, Ibnu, and Sulistya Rusgianto. 2023. “Pengaruh Environmental Awareness, Religiosity, Dan Risk Aversion Terhadap Minat Gen Z Surabaya Dalam Berinvestasi Green Sukuk.” Jurnal Ekonomika Dan Bisnis Islam 6 (2): 1–11.
Ajzen, Icek. 1991. “The Theory of Planned Behavior.” Organizational Behavior and Human Decision Processes 50 (2): 179–211. https://doi.org/10.1016/0749-5978(91)90020-T.
Alber, Nader, and Mohamed Dabour. 2020. “The Dynamic Relationship between FinTech and Social Distancing under COVID-19 Pandemic: Digital Payments Evidence.” International Journal of Economics and Finance 12 (11): 109. https://doi.org/10.5539/ijef.v12n11p109.
Altin, Ahmet, Selcen Tecer, Lokman Tecer, Süreyya Altin, and Bekir Fatih Kahraman. 2014. “Environmental Awareness Level of Secondary School Students: A Case Study in Balıkesir (Türkiye).” Procedia - Social and Behavioral Sciences 141:1208–14. https://doi.org/10.1016/j.sbspro.2014.05.207.
Fraenkel, J. R., N. E. Wallen, and H. H. Hyun. 2012. How to DesIgn and Evaluate Research In EducatIon. 8th ed. New York: McGraw-Hill.
Fushiya, Hirotaka, Tomoki Kitamura, and Munenori Nakasato. 2021. “Structured Product Investment Behavior in Low-Interest Rate Environments.” The Journal of Risk Finance 22 (2): 113–29. https://doi.org/10.1108/JRF-12-2019-0232.
Hasan, Mostafa Monzur, and Mohammad Riaz Uddin. 2022. “Do Intangibles Matter for Corporate Policies? Evidence from Organization Capital and Corporate Payout Choices.” Journal of Banking & Finance 135 (February):106395. https://doi.org/10.1016/j.jbankfin.2021.106395.
Hutabarat, Febrina. 2018. “Pengaruh Literasi Keuangan Dan Financial Technology Terhadap Inklusi Keuangan Pada Masyarakat Jabodetabek.” https://repository.ipb.ac.id/h%0Aandle/123456789/95669.
IOSCO. 2017. “Annual Report.” https://www.iosco.org/annual_reports/2017/06_InterAgencyWork/01.html.
Junianto, Dwi, and Joko Sabtohadi. 2020. “Pengaruh Sistem Perjanjian Kerja Waktu Tertentu Dan Motivasi Kerja Terhadap Kinerja Karyawan Pada Industri Pabrik Gula.” Equilibrium : Jurnal Ilmiah Ekonomi, Manajemen Dan Akuntansi 9 (1): 1–9. https://doi.org/10.35906/je001.v9i1.423.
Kabib, Nur, Arum Nur Aisyah, and Fitri Khofifah. 2021. “The Interest of the Millenial Generation to Invest in the Sharia Market through Fintech Technology.” Islamic Accounting Journal 1 (1): 39–49. https://doi.org/10.18326/iaj.v1i1.39-49.
Keuangan, Otoritas Jasa. 2016. POJK Nomor 76/POJK.07/2016 Tentang Peningkatan Literasi Dan Inklusi Keuangan Di Sektor Jasa Keuangan Bagi Konsumen Dan/Atau Masyaraka. Indonesia: https://ojk.go.id/id/kanal/edukasi-dan-perlindungan-konsumen/regulasi/peraturan-ojk/Pages/POJK-tentang-Peningkatan-Literasi-dan-Inklusi-Keuangan-di-Sektor-Jasa-Keuangan-Bagi-Konsumen-dan-atau-masyarakat.aspx. https://ojk.go.id/id/kanal/edukasi-dan-perlindungan-konsumen/regulasi/peraturan-ojk/Pages/POJK-tentang-Peningkatan-Literasi-dan-Inklusi-Keuangan-di-Sektor-Jasa-Keuangan-Bagi-Konsumen-dan-atau-masyarakat.aspx.
Lasmini, Rizki Sri, and Yolandafitri Zulvia. 2021. “Inklusi Keuangan Dan Pengaruhnya Terhadap Penggunaan Financial Technology Pada Generasi Milenial.” Jurnal Inovasi Pendidikan Ekonomi (JIPE) 11 (1): 45. https://doi.org/10.24036/011122790.
Ninglasari, Sri Yayu, and Mumuh Muhammad. 2021. “Zakat Digitalization: Effectiveness of Zakat Management in the Covid-19 Pandemic Era.” Journal of Islamic Economic Laws 4 (1): 26–44. https://doi.org/10.23917/jisel.v4i1.12442.
Pajar, Rizki Chaerul, and Adeng Pustikaningsih. 2017. “Pengaruh Motivasi Investasi Dan Pengetahuan Investasi Terhadap Minat Investasi Di Pasar Modal Pada Mahasiswa Fe Uny.” Profita 1 (2): 1–16.
Puspitasari, Sindi, A. Jajang W Mahri, and Suci Aprilliani Utami. 2020. “Indeks Inklusi Keuangan Syariah Di Indonesia.” Amwaluna: Jurnal Ekonomi Dan Keuangan Syariah 4 (1): 15–31. https://doi.org/10.29313/amwaluna.v4i1.5094.
Schueffel, Patrick. 2016. “Taming the Beast: A Scientific Definition of Fintech.” Journal of Innovation Management 4 (4): 32–54. https://doi.org/10.24840/2183-0606_004.004_0004.
Sekaran, Uma, and Roger Bougie. 2017. Metode Penelitian Untuk Bisnis. 6th ed. Jakarta: Salemba Empat.
Setiawan, Andi, Siti Rofingatun, and Kurniawan Patma. 2020. “Pengaruh Persepsi Kemudahaan Penggunaan, Efektivitas, Risiko Terhadap Minat Dan Penggunaan Financial Technologi (Fintech) Dengan Minat Sebagai Variabel Mediasi.” Jurnal Akuntansi Dan Keuangan Daerah 15 (2): 35–48. https://doi.org/10.52062/jakd.v15i2.1623.
Sugiyono. 2019. Metode Penelitian Kuantitatif, Kualitatif, Dan RND. 1st ed. Bandung: Alfabeta.
Tumewu, Ferdinand. 2019. “Minat Investor Muda Untuk Berinvestasi Di Pasar Modal Melalui Teknologi Fintech.” JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis Dan Inovasi Universitas Sam Ratulangi). 6 (2): 133–45. https://doi.org/10.35794/jmbi.v6i2.26170.
Viana, Eka Darsa, Firdha Febrianti, and Farida Ratna Dewi. 2022. “Literasi Keuangan, Inklusi Keuangan Dan Minat Investasi Generasi Z Di Jabodetabek.” Jurnal Manajemen Dan Organisasi 12 (3): 252–64. https://doi.org/10.29244/jmo.v12i3.34207.
Zhang, Lin Lin, and Ha Kyun Kim. 2020. “The Influence of Financial Service Characteristics on Use Intention through Customer Satisfaction with Mobile Fintech.” Journal of System and Management Sciences 10 (2): 82–94. https://doi.org/10.33168/jsms.2020.0206.
