THE INFLUENCE OF TECHNOLOGY ADVANCES, FINANCIAL LITERACY, SUBJECTIVE NORMS, MOTIVATION, AND PERCEPTION RISK ON THE INTENTION TO INVEST IN THE CAPITAL MARKET OF GEN Z

Abstract

From 2019-2022 there has been a significant increase with the number of investors in Indonesia reaching 9 million people. However, the number of stock investors in Indonesia, is relatively low compared to surrounding nations, at 1.5% of the total population. In addition, there are 50% of Gen Z are still uninterested in investing. This is influenced by a lack of financial literacy, technological advances are frequently misapplied, which increases the possibility of societal losses, lack of subjective norms, lack of motivation and also people afraid to take a risk. As a result, the purpose for this research is aims to analyze and determine the influence of technological advances, financial literacy, subjective norms, motivation and risk towards intention to invest gen z in the capital market. The research design was using a quantitative method by conducting questionnaires online. The total number of respondents in this research are 212 and the questionnaires were distributed online for Generation Z. The data analysis design in this research is using SPSS version 25, starting from the validity and reliability test, classical assumption test, multiple linear regression, hypothesis testing (t test & f test). The result show that, technology advances and motivation significantly influence towards intention to invest. Meanwhile, financial literacy, subjective, and perception risk variable does not influence towards the intention to invest. Technology advances, financial literacy, subjective norms, motivation and perception risk, all simultaneously influence towards intention to invest in capital market. Keywords: technology advances, financial literacy, subjective norms, simultaneously influence towards intention to invest in capital market.