Pengaruh Financial Literacy dan Motivasi Investasi terhadap Minat Investasi pada Pasar Modal di Kalangan Generasi Milenial dengan Pendapatan sebagai Variabel Moderasi

Abstract

This study aims to analyze the influence of financial literacy and investment motivation on investment interest in the capital market among millennials, with income as a moderating variable. The research employs an associative method with a quantitative approach. The population in this study consists of millennials with an interest in investing in the capital market, with a total of 150 respondents selected using purposive sampling. Primary data were obtained through a Likert-scale questionnaire, and data analysis was conducted using SmartPLS 4.0 software. The results indicate that both financial literacy and investment motivation have a positive and significant influence on investment interest in the capital market. However, the moderation test shows that income significantly moderates the relationship between financial literacy and investment interest, while income does not significantly moderate the relationship between investment motivation and investment interest. These findings have important implications for policymakers and financial institutions to enhance financial literacy through comprehensive educational programs and to consider income levels when encouraging investment interest.