The Role of Content Creators on Sharia Stock Investment Decisions in Gen-Z Mediated by Digital Financial Literacy
Year: 2025
Type: article
Study design: Observational Study
Abstract: The increasing participation of Generation Z in Shariastock investment reflects a shift in financial behaviorinfluenced by digital platforms. This study aims tounderstand the role of content creators in shaping Shariastock investment decisions among Generation Z, withdigital financial literacy as a mediating variable. Theresearch employs a quantitative approach, utilizing anon-probability purposive sampling technique, andinvolves 125 respondents from Generation Z. Data werecollected through questionnaires using a 4-point Likertscale and analyzed using Structural Equation ModelingPartial Least Squares (SEM-PLS) with the assistance ofSmartPLS 3. The findings indicate that the role of contentcreators has a direct influence on Sharia stockinvestment decisions (path coefficient = 0.447, p <0.001). Content creators also have a positive impact ondigital financial literacy (path coefficient = 0.740, p <0.001). In contrast, digital financial literacy has asignificant effect on Sharia stock investment decisions(path coefficient = 0.535, p-value = 0.000). Moreover,digital financial literacy mediates the relationshipbetween the role of content creators and Sharia stockinvestment decisions (path coefficient = 0.396, p-value =0.000). This study highlights the role of content creatorsin providing financial education to enhance digitalfinancial literacy and influence investment decisionsamong Generation Z, particularly in Sharia-compliantstocks.
DOI: 10.24036/011335100
Authors: Muhammad Agus Irawan, Bayu Tri Cahya
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4412420297