Analysis of Stock Investment Decisions in Generation Z in the Capital Market

Abstract

This study aims to examine the influence of financial literacy, investment motivation, and information technology on the investment interest of Generation Z in the Capital Market, focusing on students of the Management Study Program at Nahdlatul Ulama University of North Sumatra (UNUSU). This research employed a quantitative approach involving 89 students selected through saturated sampling. Data were collected using questionnaires with a Likert scale and analyzed through multiple linear regression using SPSS. Hypothesis testing was conducted using the t-test, F-test, and coefficient of determination. The findings indicate that financial literacy has a positive and significant effect on investment interest, while investment motivation has no significant effect. Meanwhile, information technology has a positive and significant effect on investment interest. Simultaneously, financial literacy, investment motivation, and information technology have a positive and significant effect on Generation Z’s investment interest in the Capital Market. The Adjusted R Square value of 0.778 indicates that the three independent variables explain 77.8% of the variation in investment interest, while the remaining 22.2% is influenced by other factors outside the study. These findings highlight the importance of strengthening financial literacy and utilizing information technology to encourage UNUSU students’ interest in investing in the Capital Market.