Investment Interest Among Generation Z in the Social Media Era from Perspective of Attribution Theory
Abstract
The development of social media has transformed the way Generation Z obtains information, including information about investment. On the one hand, Generation Z shows considerable interest in investment; on the other hand, they are still faced with consumptive behavior and a tendency to follow trends. This condition highlights the importance of understanding the factors that shape investment interest, both those originating from the external environment and those arising from within individuals. This study aims to analyze the influence of influencers and motivation on Generation Z’s investment interest in Denpasar City from the perspective of Attribution Theory. The study employed an associative quantitative approach involving 140 Generation Z university students residing in Denpasar City. Data were collected through an online questionnaire and analyzed using the Partial Least Squares-Structural Equation Modeling (PLS-SEM) method with the assistance of SmartPLS. The results indicate that influencers have a positive and significant effect on investment interest, while motivation also has a positive and significant effect on investment interest. Motivation has a greater influence than influencers. The research model explains 33.4% of the variation in investment interest. These findings indicate that both external and internal factors play a role in shaping Generation Z’s investment interest. Therefore, investment education through social media should be accompanied by balanced information regarding investment opportunities and risks
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