The Influence of Investment Knowledge, Risk Perception, Financial Efficacy, and Income on Students' Interest in Investing in the Capital Market, with Access to Online Investment Platforms as a Moderating Variable
DOI:
https://doi.org/10.24905/icobis.v2i1.111Keywords:
investment knowledge, risk perception, financial efficacy, income, online investment platform, investment interestAbstract
This study aims to examine the influence of investment knowledge, risk perception, financial efficacy, and income on students’ interest in investing in the capital market and to analyze the moderating role of access to online investment platforms. The study used a quantitative approach with primary data collected through questionnaires from Accounting students in Tegal City. The population consisted of Accounting students in semesters 4, 6, and 8 across four higher education institutions in Tegal City, with a total population of 731 students. A probability sampling technique using stratified random sampling produced 100 respondents. Data were processed using SPSS version 22 and analyzed through validity and reliability tests, descriptive statistics, classical assumption tests, multiple linear regression, partial significance testing, and Moderated Regression Analysis (MRA). The results show that investment knowledge and risk perception have a positive and significant effect on students’ investment interest. Financial efficacy and income do not have a significant effect on investment interest. The moderation test indicates that access to online investment platforms significantly strengthens the relationship between risk perception and investment interest, while its interaction with investment knowledge, financial efficacy, and income is not statistically significant. The MRA model explains 67.9% of the variation in investment interest, increasing explanatory power by 9.7 percentage points compared with the model before moderation. The findings contribute empirical evidence on the role of digital investment access in shaping investment interest among Accounting students.
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