Analisis Literasi dan Inklusi Terhadap Keputusan Gen Z Berinvestasi Pada Reksadana Syariah
-
Shela Selviana
*
Sunan Kalijaga State Islamic University, Sleman,
Indonesia
- Ruspita Rani Pertiwi Sunan Kalijaga State Islamic University, Sleman, Indonesia (*) Corresponding Author
Abstract
The phenomenon of gen Z dominating the capital market indicates their high interest in investment activities even though there are still challenges in financial literacy and inclusion. This study aims to analyze the influence of Islamic financial literacy and inclusion on generation Z's investment decisions in Islamic mutual funds. The research was conducted in Yogyakarta, involving 100 respondents who are members of generation Z. The method applied in this study is regression analysis to examine the relationship between the variables of financial literacy, financial inclusion, and investment decisions. The research findings show that financial literacy has a significant positive effect on investment decisions, so that the higher the level of financial literacy, the greater the tendency of generation Z to invest in Islamic mutual funds. In addition, financial inclusion also contributes to improving investment decisions. This study identified that 61.7% of Generation Z's investment decisions are influenced by financial literacy and financial inclusion. These findings indicate the importance of education and accessibility of information on Islamic finance to encourage the younger generation to further improve Islamic financial literacy and inclusion in Indonesia.
Downloads
References
Adel, N. (2024). The Impact of Digital Literacy and Technology Adoption on Financial Inclusion: Evidence from Emerging Economies in Africa, Asia, and Latin America. Heliyon, 10(24). https://doi.org/10.1016/j.heliyon.2024.e40951
Agata, T. F., & Nurazi, R. (2024). Pengaruh Literasi Keuangan, Inklusi Keuangan Dan Modal Minimal Terhadap Minat Investasi Generasi Z Indonesia Di Pasar Modal. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 8(2), 1797–1813. https://doi.org/10.31955/mea.v8i2.4243
Akande, J. O., Hosu, Y. S., Kabiti, H., Ndhleve, S., & Garidzirai, R. (2023). Financial literacy and inclusion for rural agrarian change and sustainable livelihood in the Eastern Cape, South Africa. Heliyon, 9(6), e16330. https://doi.org/10.1016/j.heliyon.2023.e16330
Bouzekouk, S., & Mansor, F. (2024). The factors influencing the selection of fund management companies by Malaysian retail investors in the context of islamic unit trust funds. Borsa Istanbul Review, 24(6), 1111–1121. https://doi.org/10.1016/j.bir.2024.06.007
Célerier, C., & Matray, A. (2019). Bank-Branch Supply, Financial Inclusion, and Wealth Accumulation. Review of Financial Studies, 32(12), 4767–4809. https://doi.org/10.1093/rfs/hhz046
Darma, B. (2021). Statistika Penelitian Menggunakan SPSS (Uji Validitas, Uji Reliabilitas, Regresi Linier Sederhana, Regresi Linier Berganda, Uji t, Uji F, R2). Guepedia.
Dewi, P. P., & Apriyati, M. Y. (2023). Analisis Keputusan Investasi Generasi Z. Fokus Bisnis Media Pengkajian Manajemen Dan Akuntansi, 22(1), 72–84. https://doi.org/10.32639/fokbis.v22i1.365
Eduardus Tandelilin. (2024). Manajemen Portofolio dan Investasi (R. de Lima, ed.). Yogyakarta: PT Kanisius.
Fitria, I., Soejono, F., & Tyra, M. J. (2021). Literasi keuangan, sikap keuangan dan perilaku keuangan dan kinerja UMKM. Business and Banking, 11(1), 1–15.
Ghoravira, D. M., Pujianto, A., & Nasution, U. C. M. (2023). Pengaruh Literasi Keuagan dan Inklusi Keuangan Terhada[ Keputusan Investasi Masyarakat di Daerah Kramat Jegu Sidoarjo. Sosialita, 2(2), 369–377.
Gua, M. P., & Dwiarti, R. (2022). Pengaruh Kepemilikan Institusional , Leverage Dan Free Cash Flow Terhadap Kebijakan Deviden Pada Perusahaan Indeks Lq45 Yang Terdaftar Di Bursa Efek Indonesia Periode 2020-2022. Inovasi Dan Kreativitas Dalam Ekonomi, 7(1), 101–116. Retrieved from https://ojs.co.id/1/index.php/ike/article/view/664/781
Gusaptono, R. H., HC, R. H. K., & Yuwono, E. S. (2021). Do Financial Inclusion, Debt Behavior Affect Business Investment? Study in Small Medium Enterprise Customers of Bank BPD Yogyakarta Indonesia. Journal of Economics and Business, 4(3). https://doi.org/10.31014/aior.1992.04.03.381
Hossan, D., Dato Mansor, Z., & Jaharuddin, N. S. (2023). Research Population and Sampling in Quantitative Study. International Journal of Business and Technopreneurship (IJBT), 13(3), 209–222. https://doi.org/10.58915/ijbt.v13i3.263
Ksei. (2024). Statistik Pasar Modal Indonesia. Retrieved January 1, 2025, from PT Kustodian Sentral Efek Indonesia website: www.ksei.co.id
Mutamimah, M., Saputri, P. L., & Indriastuti, M. (2023). Financial inclusion and mutual funds investment decision. Diponegoro International Journal of Business, 6(2), 114–127. https://doi.org/10.14710/dijb.6.2.2023.114-127
Puspitasari, S., Mahri, A. J. W., & Utami, S. A. (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
Qizam, I., Berakon, I., & Ali, H. (2024). The role of halal value chain, Sharia financial inclusion, and digital economy in socio-economic transformation: a study of Islamic boarding schools in Indonesia. Journal of Islamic Marketing. https://doi.org/10.1108/JIMA-03-2024-0108
R. Heru Kristanto HC, & Gusaptono, R. H. (2020). The Impact of Financial Literacy on Investment Decisions Between Saving and Credit: Studies on Sharia Bank Customers in the Special Region of Yogyakarta. Journal of Economics and Business, 3(4). https://doi.org/10.31014/aior.1992.03.04.291
Rahim, S. H. A., Rashid, R. A., & Hamed, A. B. (2016). Islamic financial literacy and its determinants among university students: An exploratory factor analysis. International Journal of Economics and Financial Issues, 6(7Special Issue), 32–35.
Safitri, D., & Tandean, V. A. (2025). Analisis Minat dan Motivasi Berinvestasi Pada Generasi GEN-Z di Pasar Modal Dari Perspektif Literasi KEuangan. Mount Hope International Accounting Journal JAIMO, 3(1), 1–8.
Sari, S. P., & Maulida, A.-Z. (2023). Behavioral Finance and Financial Literacy Affecting Investor Millenial Decision Making Process on Sharia Stock. American Journal of Sciences and Engineering Research, 6(2), 541–552.
Siregar, D. K., & Anggraeni, D. R. (2022). Pengaruh Literasi Keuangan dan Perilaku Keuangan Terhadap Keputusan Investasi Mahasiswa. Bussman Journal : Indonesian Journal of Business and Management, 2(1), 96–112.
Sugiyono. (2019). Metode Penelitian Kuantitatif Kualitatif dan R&D. CV. Bandung: Alfabeta.
Sujud, F. A. (2021). Inisiasi Otoritas Jasa Keuangan Kediri Dalam Meningkatkan Literasi Dan Inklusi Keuangan Syariah Masyarakat Kediri. Jurnal Tanbih, 1(April), 67–87.
Sutejo, D. A. (2021). Analisis Pengaruh Literasi Keuangan, Inklusi Keuangan, dan Pengelolaan Keuangan terhadap Keputusan Investasi Generasi Milenial di Kota Malang. Jurnal Ilmiah, 10(1).
Utami, E. M., Yuliani, R., & Fatihat, G. G. (2024). Financial Literacy as Mediates of Financial Attitude and Intention To Invest in Shariah. ADPEBI: International Journal of Business and Social Science, 4(2), 120–130.
Wanda Ayu Rasari, & Endang Wulandari. (2024). Pengaruh Literasi Keuangan Dan Pendapatan Terhadap Keputusan Investasi Mahasiswa. Seminar Nasional Pariwisata Dan Kewirausahaan (SNPK), 3, 594–601. https://doi.org/10.36441/snpk.vol3.2024.277
Widana, I. W., & Muliani, P. L. (2020). Uji Persyaratan Analisis. In T. Fiktorius (Ed.), PENGARUH PENGGUNAAN PASTA LABU KUNING (Cucurbita Moschata) UNTUK SUBSTITUSI TEPUNG TERIGU DENGAN PENAMBAHAN TEPUNG ANGKAK DALAM PEMBUATAN MIE KERING (Vol. 15). Jawa Timur: Klik Media. Retrieved from https://core.ac.uk/download/pdf/196255896.pdf
Xu, Q., & Sun, W. (2022). Does financial inclusion promote investment and affect residents’ happiness?—Evidence from China. Frontiers in Psychology, 13. https://doi.org/10.3389/fpsyg.2022.988312
Zuchri Abdussamad. (2021). Metode Penelitian Kualitatif. In Patta Rapanna (Ed.), Sustainability (Switzerland) (Cetakan I, Vol. 11). CV. syakir Media Press. Retrieved from http://scioteca.caf.com/bitstream/handle/123456789/1091/RED2017-Eng-8ene.pdf?sequence=12&isAllowed=y%0Ahttp://dx.doi.org/10.1016/j.regsciurbeco.2008.06.005%0Ahttps://www.researchgate.net/publication/305320484_SISTEM_PEMBETUNGAN_TERPUSAT_STRATEGI_MELESTARI
Bila bermanfaat silahkan share artikel ini
Berikan Komentar Anda terhadap artikel Analisis Literasi dan Inklusi Terhadap Keputusan Gen Z Berinvestasi Pada Reksadana Syariah
Pages: 438−448
Copyright (c) 2025 Shela Selviana; Ruspita Rani Pertiwi
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under Creative Commons Attribution 4.0 International License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (Refer to The Effect of Open Access).
