Determinants of Investment Interest among Gen Z Students: Evidence from Robo-Advisory Adoption, Digital Financial Literacy, and Financial Inclusion

Abstract

Research aim : This study aims to determine and analyze the influence of Robo Advisor, Digital Financial Literacy, and Financial Inclusion on investment interest among Management Program students at Nusantara PGRI University Kediri, either partially or simultaneously.

Design/Methode/Approach : The approach in this study uses a quantitative approach with a causality research type. The population of this study were Management Program students from the 2022 cohort at Nusantara PGRI University Kediri. The sample used in this study was 40 respondents taken using cluster sampling technique. The data analysis technique used multiple linear regression tests.

Research Finding : The results of this study indicate that Robo Advisor, Digital Financial Literacy, and Financial Inclusion have a significant influence on investment interest, both partial and simultaneous, with the model explaining 68.9% of the variance (Adjusted R² = 0.689)

Theoretical contribution/Originality : This study provides insights into how Robo Advisor, Digital Financial Literacy, and Financial Inclusion collectively influence Generation Z investment interest, particularly among academically prepared students with minimal actual investment engagement.

Practitionel/Policy implication : This study offers practical implications for financial service providers and policymakers to develop targeted interventions that convert latent investment interest into actual behavior among Indonesia's Generation Z.

Research limitation : The limitation of this research is that the sample, which consists of Management Program students from the 2022 cohort at Nusantara PGRI University Kediri, cannot fully represent the entire Generation Z population, as it is limited to one specific academic program and university context