Pengaruh Persepsi Kredibilitas Influencer Keuangan dan Self Efficacy terhadap Partisipasi Investasi Generasi Z di Indonesia : Studi pada Pengguna Media Sosial
DOI:
https://doi.org/10.37481/jmeb.v6i3.2150Keywords:
Financial influencer, Self-efficacy, Investment participation, Generation Z, Theory of Planned BehaviorAbstract
This study addresses the limited empirical evidence explaining how external social influences and internal psychological factors jointly shape actual investment participation among Generation Z in Indonesia. While previous studies have mainly focused on investment intention, financial literacy, or investment decisions, research examining investment participation by integrating perceived financial influencer credibility and self-efficacy remains limited. Accordingly, this study aims to investigate the effects of perceived financial influencer credibility and self-efficacy on Generation Z's investment participation. An explanatory quantitative approach was employed using a survey of 149 Generation Z respondents who actively use social media and have investment experience. Data were collected through an online questionnaire and analyzed using multiple linear regression with SPSS 26. The results indicate that perceived financial influencer credibility has a positive and significant effect on investment participation. Likewise, self-efficacy positively and significantly influences investment participation, with self-efficacy showing a stronger contribution than influencer credibility. These findings suggest that investment participation among Generation Z is shaped by the interaction between credible investment information received through social media and individuals' confidence in their ability to make investment decisions. The study extends the application of the Theory of Planned Behavior in explaining investment participation within the digital financial environment.
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