Determinants of Online Loan Adoption among Gen Z’s: The Role of Gender, Financial Literacy, Self-Efficacy, and Risk Perception

Authors

  • Putrila Maya Jannata Universitas Pembangunan Nasional "Veteran" Jawa Timur
  • Dwi Suhartini Universitas Pembangunan Nasional "Veteran" Jawa Timur

DOI:

https://doi.org/10.37638/bima.6.2.807-818

Keywords:

Gender, Finansial Literacy, Finansial Self-Efficacy, Perception Risk, Online Lending

Abstract

Purpose: This study investigates how gender, financial literacy, financial self-efficacy, and risk perception influence the intention to use online lending services among Generation Z university students in Surabaya. Methodology: A quantitative approach was applied using Partial Least Squares-SEM (SmartPLS 4.0) on a sample of 290 accounting students, selected through stratified random sampling. Data were collected via online surveys. Findings: Financial literacy and self-efficacy significantly and positively influence online loan interest, while perceived risk shows a significant negative impact. Gender was not found to be a significant factor. Novelty: This research contributes to the fintech behavioral literature by confirming the dominance of cognitive and psychological drivers over demographic characteristics in shaping Gen Z’s online loan interest. Originality: The study adds a regional context by focusing on accounting students in Surabaya, representing a tech-savvy and financially literate cohort, with gender explored as a non-significant differentiator. Conclusion: Online loan interest is primarily shaped by internal competencies (literacy, self-efficacy) and risk aversion rather than demographic traits like gender. Type of Paper: Research Article.

References

Aqidah, N. A., & Hamida. (2025). Financial Management Behavior in Indonesia: Gender Perspective. Owner Riset & Jurnal Akuntansi, 9(1). https://doi.org/10.33395/owner.v9i1.2573

Asriyani, Y., & Johan, I. R. (2023). The Effect of Financial Literacy and Self-Efficacy on Interest in Using Peer to Peer Lending Among Millenials. Journal of Child, Family, and Consumer Studies, 2(2), 168–178. https://doi.org/https://doi.org/10.29244/jcfcs.2.2.167-178

Assyfa, L. N. (2020). Pengaruh Pendapatan, Gender Dan Kemampuan Akademik Terhadap Perilaku Pengelolaan Keuangan Pribadi Mahasiswa Akuntansi Dengan Literasi Keuangan Sebagai Variabel Intervening. Platform Riset Mahasiswa Akuntansi (PRISMA), 01(01), 109–119. https://ojs.stiesa.ac.id/index.php/prisma

Chen, S., Doerr, S., Frost, J., Gambacorta, L., & Shin, H. S. (2023). The fintech gender gap. Journal of Financial Intermediation, 54(931). https://doi.org/10.1016/j.jfi.2023.101026

Frederica, D., Magdalena, F. C. S., Gunarso, G., Anatasia, C., & Cici, H. D. (2023). Pengaruh Literasi Keuangan Dan Faktor Lainnya Terhadap Niat Masyarakat Menggunakan Pinjaman Online. Jurnal Riset Bisnis, 7(1), 141–155.

Islam, K. M., & Khan, M. S. (2024). The role of financial literacy, digital literacy, and financial self-efficacy in FinTech adoption. Investment Management and Financial Innovations, 21(2), 370–380. https://doi.org/10.21511/imfi.21(2).2024.30

Koskelainen, T., Kalmi, P., Scornavacca, E., & Vartiainen, T. (2023). Financial literacy in the digital age—A research agenda. Journal of Consumer Affairs, 57(1), 507–528. https://doi.org/10.1111/joca.12510

Long, T. Q., Morgan, P. J., & Yoshino, N. (2023). Financial literacy, behavioral traits, and ePayment adoption and usage in Japan. Financial Innovation, 9(1). https://doi.org/10.1186/s40854-023-00504-3

Mandagie, Y. R. O., Febrianti, M., & Fujianti, L. (2020). Analisis Pengaruh Literasi Keuangan, Pengalaman Investasi dan Toleransi Risiko Terhadap Keputusan Investasi (Studi Kasus Mahasiswa Akuntansi Universitas Pancasila). RELEVAN : Jurnal Riset Akuntansi, 1(1), 35–47. https://doi.org/10.35814/relevan.v1i1.1814

Nurhayani, Prihatma, G. T., & Syaqillah, A. (2022). Pengaruh Kemudahan Penggunaan dan Persepsi Risiko Terhadap Minat Penggunaan Aplikasi Pinjaman Online Pada Mahasiswa Fakultas Ekonomi dan Bisnis Universitas Serang Raya. Jurnal Manajemen Perusahaan, 1(2), 61–70.

Pamungkas, S. R., & Hardini, H. T. (2022). Pengaruh Literasi Keuangan, Pembelajaran Akuntansi Keuangan Dan Teman Sebaya Terhadap Pengelolaan Keuangan Mahasiswa Di Era Pandemi Covid-19. Jurnal Inspiratif Pendidikan, XI(2).

Putri, S. I., & Priono, H. (2024). Pengaruh Literasi Keuangan, Sosial, Dan Gaya Hidup Terhadap Pengguna Aplikasi Pinjaman Online. Journal of Economic, Bussines and Accounting (COSTING), 7(4). https://doi.org/10.31539/costing.v7i4.10795

Putri, T., & Amin, M. N. (2024). Pengaruh Risiko dan Kepercayaan Terhadap Minat Penggunaan Fintech Pinjaman Online dengan Kemudahan Penggunaan Sebagai Variabel Moderasi. Jurnal Ekonomi Trisakti, 4(2), 175–184.

Qiao, X. (2012). Gender Differences on Saving and investment Behaviors. In Degree Thesis International Business.

Salsabila, N. P., Basalamah, M. R., & Rahmawati. (2023). Pengaruh Financial Technology, Literasi Keuangan Dan Gender Terhadap Perilaku Keuangan Pada Mahasiswa Fakultas Ekonomi Dan Bisnis Universitas Islam Malang. E – Jurnal Riset Manajemen, Vol. 12 No(02), 1025–1033. http://riset.unisma.ac.id/index.php/jrm

Sang, N. M. (2021). Financial Well-Being of Vietnamese Students. Investment Management and Financial Innovations, 18(4), 355–365. https://doi.org/10.21511/imfi.18(4).2021.29

Suhartini, D., Sari, R. P., & Riadi, E. (2019). Konsekuensi Budgetary Slack : Perspektif Gender. Journal of Accounting Science, 3(1), 37–48.

Suliantini, K. A., & Dewi, G. A. K. R. S. (2022). Pengaruh Persepsi Kemudahan Penggunaan, Persepsi Manfaat, Persepsi Risiko, Dan Personalisasi Terhadap Minat Generasi Z Menggunakan Peer To Peer Lending. Vokasi : Jurnal Riset Akuntansi, 10(02), 186–194. https://doi.org/10.23887/vjra.v10i02.50881

Theodos, B., Kalish, E., Mckernan, S.-M., & Ratcliffe, C. (2014). Do financial knowledge, behavior, and well-Being differ by gender? Urban Institute, March, 1–8.

Utama, D. P., & Sumarna, A. D. (2024). Financial Technology Literacy Impact on Gen-Z in Indonesia. Dinasti International Journal of Economics, 4(6), 781–787.

Virgiawan, M. P., & Prawitasari, D. (2024). Dampak Fintech Payment , Self Efficacy , dan Financial Knowledge Terhadap Financial Behavior Mahasiswa di Semarang. 4, 5219–5227.

Downloads

Published

2025-12-30

Issue

Vol. 6 No. 2 (2025)

Section

Reasearch Paper

License

Copyright (c) 2025 Putrila Maya Jannata, Dwi Suhartini

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

An author who publishes in the BIMA JOURNAL: Business, Management, and Accounting Journal agrees to the following terms:

Author retains the copyright and grants the journal the right of first publication of the work simultaneously licensed under the Creative Commons Attribution-ShareAlike 4.0 License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal

Submission of a manuscript implies that the submitted work has not been published before (except as part of a thesis or report, or abstract); that it is not under consideration for publication elsewhere; that its publication has been approved by all co-authors. If and when the manuscript is accepted for publication, the author(s) still hold the copyright and retain publishing rights without restrictions. For the new invention, authors are suggested to manage its patent before published. The license type is CC-BY-SA 4.0.

Hasil gambar untuk gambar cc by sa

BIMA JOURNAL: Business, Management and Accounting is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

You are free to:

Share — copy and redistribute the material in any medium or format

Adapt — remix, transform, and build upon the material

for any purpose, even commercially.

The licensor cannot revoke these freedoms as long as you follow the license terms.

Under the following terms:

  • Attribution — You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.

  • ShareAlike — If you remix, transform, or build upon the material, you must distribute your contributions under the same license as the original.

  • No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.

Notices:

  • You do not have to comply with the license for elements of the material in the public domain or where your use is permitted by an applicable exception or limitation.
  • No warranties are given. The license may not give you all of the permissions necessary for your intended use. For example, other rights such as publicity, privacy, or moral rights may limit how you use the material.