Prediktor Minat Investasi Reksa Dana pada Generasi Z di UKSW: Pendekatan Theory of Planned Behavior

Abstract

Penelitian ini bertujuan untuk menganalisis faktor-faktor yang mempengaruhi minat investasi reksa dana pada Generasi Z di Universitas Kristen Satya Wacana (UKSW) dengan pendekatan Theory of Planned Behavior (TPB) yang dimodifikasi. Variabel yang diteliti meliputi sikap keuangan, media sosial, teman sebaya, dan pengetahuan investasi. Sampel dalam penelitian ini dihitung dengan menggunakan rumus Hair et al. sehingga diperoleh sampel sebanyak 170 responden dengan pertimbangan pengujian outlier. Pengambilan sampel menggunakan teknik nonprobability sampling dengan pendekatan convenience sampling. Data dianalisis menggunakan teknik Partial Least Square Structural Equation Modeling (PLS-SEM) melalui SmartPLS 4. Hasil penelitian menunjukkan bahwa seluruh hipotesis dalam model terbukti secara signifikan. Sikap keuangan, media sosial, teman sebaya, dan pengetahuan investasi berpengaruh positif terhadap minat investasi reksa dana. Selain itu, pengetahuan investasi juga terbukti berpengaruh positif terhadap sikap keuangan. Temuan ini mendukung relevansi TPB dalam konteks keuangan generasi muda, serta menegaskan pentingnya literasi keuangan dan peran media sosial serta lingkungan sosial dalam membentuk minat investasi. Penelitian ini memberikan kontribusi teoritis terhadap pengembangan TPB dalam konteks perilaku keuangan digital, dan secara praktis memberikan masukan bagi lembaga keuangan dalam merancang strategi edukasi yang sesuai dengan karakteristik Generasi Z.

This study aims to analyze the factors influencing mutual fund investment interest among Generation Z at Satya Wacana Christian University (UKSW) using a modified Theory of Planned Behavior (TPB) approach. The variables examined include financial attitude, social media, peer influence, and investment knowledge. The sample was determined using the formula proposed by Hair et al., resulting in a total of 170 respondents after considering outlier testing. A non-probability sampling technique with a convenience sampling approach was used for data collection. The data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) through SmartPLS 4. The results show that all hypotheses in the model are statistically supported. Financial attitude, social media, peer influence, and investment knowledge positively influence mutual fund investment interest. Furthermore, investment knowledge also has a significant positive effect on financial attitude. These findings support the relevance of TPB in the context of youth financial behavior and emphasize the importance of financial literacy, social media, and peer environment in shaping investment interest. This study provides a theoretical contribution to the development of TPB in the context of digital financial behavior and offers practical recommendations for financial institutions in designing educational strategies that align with the characteristics of Generation Z.