The effect of investment knowledge, eco-friendly lifestyle, and interest rates on investment interest among millennials and gen Z
DOI:
https://doi.org/10.35877/454RI.daengku3760Keywords:
Investment Knowledge, Financial Literacy, Investment Interest, Environmentally Friendly Lifestyle, Interest RatesAbstract
This study aims to analyze the influence of investment knowledge, environmentally friendly lifestyles, and interest rates on investment interest among Generation Z. The study results show that investment knowledge significantly impacts investment interest, where higher financial literacy encourages more rational and informed investment decisions. An environmentally friendly lifestyle also contributes to increasing investment interest, although its influence is not as strong as financial literacy. Interest rates are proven to affect investment decisions, but their contribution is smaller compared to other factors. These findings indicate that a combination of good financial literacy and awareness of sustainable investment can enhance Generation Z's participation in the investment world. Therefore, financial education and the promotion of sustainability-based investment need to be improved to encourage wiser and more responsible investment decisions.
References
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Putri, B., & Asri, M. (2021). Pengaruh Literasi Keuangan terhadap Diversifikasi Portofolio Saham Investor Individual di Indonesia. Universitas Gadjah Mada.
Quirira, D., & Hanafi, M. M. (2016). Pengaruh Literasi Keuangan terhadap Perilaku Keuangan. Universitas Gadjah Mada.
Renneboog, L., Ter Horst, J., & Zhang, C. (2020). Socially responsible investments: Institutional aspects, performance, and investor behavior. *Journal of Sustainable Finance & Investment*, 10(1), 125-150. DOI: 10.1080/20430795.2019.1672148.
Sabila, S. F., & Oktyawati, D. O. (2023). Pengaruh Literasi Keuangan, Tingkat Pendidikan, dan Financial Technology terhadap Pengelolaan Keuangan UMKM. Universitas Gadjah Mada.
Sa’adah, L., Gangga, F., Janah, T. M., & Fadhilah, B. A. (2025). Faktor-Faktor yang Mempengaruhi Keputusan Generasi Z dalam Berinvestasi (Studi pada Mahasiswa Universitas Kh. A Wahab Hasbullah). Jurnal Riset Manajemen, 3(1), 01–11. https://doi.org/10.54066/jurma.v3i1.2901
Bich, T. H. T., Doan, D. T., Hai, H. N., Ha, T. N. T., & Ngan, N. N. T. (n.d.). Impact of Behavioral Factors on The Stock Investment Decisions of Generation Z in Vietnam. https://doi.org/10.51847/jjbx9eabdo
Cano?lu, M., & Üstüner, S. (2025). The moderating role of environmental knowledge in influencing sustainable consumption intention of Generation Z through Personal Norms, Social Norms, and Environmental Awareness. Innovative Marketing, 21(1), 14–25. https://doi.org/10.21511/im.21(1).2025.02
Cheng, Y., Ioannou, I., & Serafeim, G. (2020). Corporate sustainability and equity returns. Journal of Finance, 75(2), 577–620. DOI: 10.1111/jofi.12968.
Conrad, C. A. (2022). The Effects of Demand and Interest Rates on Investments, Evidence of Overinvestment from Two Behavioral Experiments. Applied Economics and Finance, 9(1), 19. https://doi.org/10.11114/aef.v9i1.5452
Erliana, E., & Tjokrosaputro, M. (2023). Faktor-faktor yang memengaruhi intensi Generasi Z untuk berinvestasi saham. Jurnal Manajemen Bisnis Dan Kewirausahaan. https://doi.org/10.24912/jmbk.v7i6.27258
Faturohman, T., & Mariana, L. (2020). Pengaruh tingkat suku bunga terhadap minat investasi di sektor keuangan. Jurnal Ekonomi Indonesia, 9(3), 233–245.
Febyanti, D., & Akhirruddin, A. (2024). Literasi Keuangan dalam Meningkatkan Minat Investasi pada Generasi Milenial di Pulau Bawean. El-Mal, 5(12). https://doi.org/10.47467/elmal.v5i12.6142
Filip, A., Stancu, A., Oni?or, L.-F., Mogo?, O. C., Catan?, ?tefan-A., & Goldbach, D. (2025). Drivers of Purchase Intentions of Generation Z on Eco-Products. Sustainability, 17(2), 629. https://doi.org/10.3390/su17020629
Judijanto, L., Utami, E. Y., & Siagian, A. O. (2024). Gen Z Investor Behavior: Analyzing the Influence of Sustainable Investment Practices, Financial Education, and Risk Tolerance in Indonesia. Journal of Management and Bussines (JOMB). https://doi.org/10.31539/jomb.v6i3.8832
Kumar, K., Agrawal, P. K., & Sharma, N. (2024). Investment behavior of b-school gen z amidst geopolitical tension. Indian Scientific Journal Of Research In Engineering And Management, 08(12), 1–6. https://doi.org/10.55041/ijsrem39398
Kusumaningtyas, D., & Ardini, L. (2024). Decision generation z investment from a finance behavior point of view. https://doi.org/10.24034/icobuss.v3i1.456
Lane, K., & Rosewall, T. (2015). Firms’ Investment Decisions and Interest Rates. 01–08. https://www.rba.gov.au/publications/bulletin/2015/jun/pdf/bu-0615-1.pdf
Lusardi, A., & Mitchell, O. S. (2021). Financial literacy and the demand for sustainable investment. *Journal of Economic Behavior & Organization*, 185, 514–528. DOI: 10.1016/j.jebo.2021.02.020
Maulidya, S. N., Effendy, F., & Wuryanto, E. (2024). The perspective of millenials and generation z users on online investment platforms using persona approach and user journey. International Journal of Social Service and Research, 4(9). https://doi.org/10.46799/ijssr.v4i9.932
Malaiya, U. (2025). The Role of Financial Literacy in Promoting Investment Behavior Among Young Adults. International Journal For Multidisciplinary Research, 7(1). https://doi.org/10.36948/ijfmr.2025.v07i01.35017
Musialik-Chmiel, A., Go?uchowski, J., & Berdowska, A. (2025). Credibility of financial influencers and its affect on Generation Z investors’ behaviors and decisions. 213–222. https://doi.org/10.4324/9781003534280-21
Nilasari, P. D., & Fitriyah, F. (2024). Determinants of Generation Z Green Investment Interest: The Role of Social Media Platforms as Moderating Variables. Indonesian Journal of Social and Environmental Issues, 5(3), 306–317. https://doi.org/10.47540/ijsei.v5i3.1736
Pallavi, G. P., & Thantry Dsa, K. (2025). A Case Study on Evaluating the Role of Financial Literacy in Investment Decision Making with Special Reference to Young Professionals. International Journal of Case Studies in Business, IT, and Education, 22–34. https://doi.org/10.47992/ijcsbe.2581.6942.0366
Peng, L., & Thibodeau, T. G. (2020). Interest Rates and Investment: Evidence from Commercial Real Estate. Journal of Real Estate Finance and Economics, 60(4), 554–586. https://doi.org/10.1007/S11146-019-09699-8
Putri, B., & Asri, M. (2021). Pengaruh Literasi Keuangan terhadap Diversifikasi Portofolio Saham Investor Individual di Indonesia. Universitas Gadjah Mada.
Quirira, D., & Hanafi, M. M. (2016). Pengaruh Literasi Keuangan terhadap Perilaku Keuangan. Universitas Gadjah Mada.
Renneboog, L., Ter Horst, J., & Zhang, C. (2020). Socially responsible investments: Institutional aspects, performance, and investor behavior. *Journal of Sustainable Finance & Investment*, 10(1), 125-150. DOI: 10.1080/20430795.2019.1672148.
Sabila, S. F., & Oktyawati, D. O. (2023). Pengaruh Literasi Keuangan, Tingkat Pendidikan, dan Financial Technology terhadap Pengelolaan Keuangan UMKM. Universitas Gadjah Mada.
Sa’adah, L., Gangga, F., Janah, T. M., & Fadhilah, B. A. (2025). Faktor-Faktor yang Mempengaruhi Keputusan Generasi Z dalam Berinvestasi (Studi pada Mahasiswa Universitas Kh. A Wahab Hasbullah). Jurnal Riset Manajemen, 3(1), 01–11. https://doi.org/10.54066/jurma.v3i1.2901
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Published
2025-02-26
How to Cite
Amanda, F., Suhardi, Akbar, J. ., & Adriana, N. . (2025). The effect of investment knowledge, eco-friendly lifestyle, and interest rates on investment interest among millennials and gen Z. Daengku: Journal of Humanities and Social Sciences Innovation, 5(1), 153–160. https://doi.org/10.35877/454RI.daengku3760
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