INVESTMENT IDENTITY SHIFT: MENGUBAH STATUS SOSIAL GEN Z DARI CONSUMPTION SIGNALING KE INVESTMENT SIGNALING MELALUI BEHAVIORAL DESIGN

Abstract

The rise of social media makes Generation Z vulnerable to trends and social pressure in investment decisions, leading to difficulties in making long-term choices. This study examines the shift from Consumption Signaling to Investment Signaling through Behavioral Design using a quantitative survey of 50 young investors analyzed with PLS-SEM. The results show that Social Influence Exposure significantly affects Investment Identity, while Behavioral Design and Consumption Signaling Orientation do not. Investment Identity has a positive and significant effect on Growth-Oriented Investment Behavior and mediates the effect of Social Influence Exposure, but not the other variables. These findings highlight that investment identity plays a key role in shaping long-term investment behavior and is influenced by social factors. Therefore, investors need to be more selective in filtering information and strengthen their investment identity through financial literacy and long-term planning.