JURNAL MANAJEMEN MOTIVASI
Vol 22 No 1 (2026): Jurnal Manajemen Motivasi

The Influence of Financial Literacy, Overconfidence Bias, and Herding Behavior on Stock Investment Interest among Generation Z Students

Tia, Fenika Elis (Unknown)
Bella, Cinthya (Unknown)
Muhammad, Mahathir (Unknown)

Article Info

Publish Date
20 Nov 2025

Abstract

This study investigates the influence of financial literacy, overconfidence bias, and herding behavior on stock investment interest among Generation Z students aged 17–27. Employing a quantitative approach, data were collected via questionnaires from 180 respondents and analyzed using statistical methods. Results reveal that financial literacy significantly and positively affects investment interest. In contrast, overconfidence bias and herding behavior show no significant individual effects. Nevertheless, collectively, all three variables significantly influence stock investment interest. These findings underscore the critical role of financial education and psychological awareness in fostering rational investment behavior among young investors.

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Journal Info
JURNAL MANAJEMEN MOTIVASI
Website

Abbrev

jm_motivasi

Publisher

Universitas Muhammadiyah Pontianak

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

Jurnal Manajemen Motivasi (JMM) adalah Jurnal Ilmiah Fakultas Ekonomi dan Bisnis Universitas Muhammadiyah Pontianak yang diterbitkan secara berkala 2 (dua) kali dalam satu tahun (Juni dan Oktober) sebagai sarana untuk menyebarluaskan hasil penelitian dan ilmu pengetahuan di bidang ilmu manajemen ...