Peran Gender Sebagai Moderasi Dalam Pengaruh Suku Bunga, Inflasi, dan Literasi Keuangan Terhadap Minat Investasi Generasi Muda
-
Komang Sri Widiantari
*
Universitas Pendidikan Nasional, Bali,
Indonesia
- I Gusti Agung Bayu Satria Palguna Universitas Pendidikan Nasional, Bali, Indonesia
- I Made Suidarma Universitas Pendidikan Nasional, Bali, Indonesia
- I Nyoman Sunarta Universitas Pendidikan Nasional, Bali, Indonesia (*) Corresponding Author
Abstract
This study investigates the influence of interest rates, inflation, and financial literacy on investment intention among Generation Z in Bali Province, with gender serving as a moderating variable. The research is motivated by the increasing participation of young people in Indonesia’s capital market, which reflects a growing awareness of financial opportunities in the digital era. A quantitative approach was applied using the Partial Least Squares–Structural Equation Modeling (PLS-SEM) method, analyzed through SmartPLS 4 software. The study involved 152 respondents aged 17–28 years, all classified as Generation Z residents of Bali who have never engaged in capital market transactions, selected through purposive sampling. Respondents were limited to individuals who had never conducted transactions in the capital market to avoid bias from investment experience, ensuring that the measured investment intention genuinely reflects the early stage of decision-makingThe results reveal that financial literacy exerts a positive and significant effect on investment intention (T-statistics = 3.463; P-value = 0.001), confirming its pivotal role in shaping rational financial decisions. In contrast, interest rates and inflation show positive but insignificant relationships with investment intention. These findings align with the Theory of Planned Behavior (TPB) and Behavioral Finance Theory, indicating that financial literacy, as a component of perceived behavioral control, serves as the dominant predictor of investment intention. Furthermore, gender does not moderate the relationships between independent variables and investment intention. The model’s R-square value of 0.767 suggests that the proposed framework explains 76.7% of the variance in Generation Z’s investment intention in Bali.
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