PENGARUH USIA, PENDAPATAN, DAN TINGKAT RISIKO TERHADAP PEMILIHAN JENIS INVESTASI PEGAWAI SWASTA DI SURAKARTA

Abstrak

The background of this research is based on the rapid development of investment instruments and the inconsistency of previous findings regarding the determinants of investment preferences. This study aims to examine how the influence of age, income, and risk level affects the selection of investment types among private employees in Surakarta City. This study used a quantitative approach with a 4-point Likert scale questionnaire distributed to 115 respondents selected through purposive sampling. The data were then processed by transforming scores into ordinal categories and analyzed using ordinal logistic regression to test for partial effects (Wald test) and simultaneous effects (model fitting, goodness of fit, pseudo-R²). The results of the analysis show that partially the income and risk level variables have a significant effect on the tendency to choose investment instruments, while age does not show a significant effect individually, but simultaneously the three variables together are able to explain the proportion of variation in investment type selection with adequate model capabilities. The practical implications of this study emphasize the importance of tailoring investment products or educational programs based on income profiles and investment risk tolerance, as well as the need for literacy interventions emphasizing risk management and fund allocation. Recommendations for further research include expanding variables, as well as increasing sample size and coverage. ABSTRAK Latar penelitian ini didasari oleh perkembangan pesat instrumen investasi dan ketidakkonsistenan temuan sebelumnya mengenai determinan preferensi investasi. Penelitian ini bertujuan untuk mengkaji bagaimana pengaruh usia, pendapatan, dan tingkat risiko memengaruhi pemilihan jenis investasi pegawai swasta di Kota Surakarta. Penelitian ini menggunakan pendekatan kuantitatif dengan kuesioner skala Likert 4-poin yang disebarkan kepada 115 responden terpilih melalui purposive sampling. Data kemudian diolah dengan transformasi skor menjadi kategori ordinal dan dianalisis menggunakan regresi logistik ordinal untuk menguji pengaruh parsial (uji Wald) dan pengaruh simultan (model fitting, goodness of fit, pseudo-R²). Hasil analisis menunjukkan bahwa secara parsial variabel pendapatan dan tingkat risiko berpengaruh signifikan terhadap kecenderungan memilih instrumen investasi, sedangkan usia tidak menunjukkan pengaruh signifikan secara individu, namun secara simultan ketiga variabel tersebut bersama-sama mampu menjelaskan proporsi variasi pemilihan jenis investasi dengan kemampuan model yang memadai. Implikasi praktis penelitian ini menekankan pentingnya penyesuaian produk atau program edukasi investasi berdasarkan profil pendapatan dan toleransi risiko investasi, serta perlunya intervensi literasi yang menekankan manajemen risiko dan alokasi dana. Rekomendasi untuk penelitian lanjutan mencakup perluasan variabel, peningkatan ukuran, dan cakupan sampel.