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Vol. 6 No. 1 (2026): Juli

Articles

Financial Literacy, Minimum Capital, and Risk Perception in Generation Z Capital-Market Investment Interest

D Dinda Laraswati A Anita Kusuma Dewi K Klemensia Erna Christina Sinaga
16 July 2026 Vol. 6 No. 1 (2026): Juli https://doi.org/10.35912/jbpd.v6i1.7256
Abstract
16 Jul 2026

Purpose: This study examines associations of financial literacy, perceived minimum-capital affordability, and risk perception with Generation Z students' capital-market investment interest in Indonesia.
Methods: At Politeknik Negeri Lampung, 160 of 176 responses met purposive criteria: active enrollment, investment-lecture exposure, and no current capital-market investment. A 32-item Likert instrument was analyzed in SPSS 26 using measurement-quality tests, regression diagnostics, multiple regression, t and F tests, and adjusted R².
Results: Financial literacy (B = -0.250, p = .001) and risk perception (B = -0.661, p < .001) are negatively associated with interest; minimum-capital affordability is positive (B = 1.242, p < .001). The model is jointly significant, F(3, 156) = 70.257, p < .001; adjusted R² = .566.
Limitations: The purposive self-report sample comes from one vocational institution and measures intention rather than realized behavior.
Conclusion: Affordability strengthens investment interest, whereas perceived risk constrains it; among inexperienced respondents, higher financial literacy corresponds to greater caution rather than stronger interest.
Contributions: The study extends evidence to Indonesian vocational Generation Z and integrates capability, entry affordability, and risk beliefs.

Keywords: Financial Literacy Generation Z Investment Interest Minimum Capital Risk Perception
How to Cite
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Laraswati, D., Dewi, A. K., & Sinaga, K. E. C. (2026). Financial Literacy, Minimum Capital, and Risk Perception in Generation Z Capital-Market Investment Interest. Jurnal Bisnis Dan Pemasaran Digital, 6(1), 103–116. https://doi.org/10.35912/jbpd.v6i1.7256
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