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<p>Finfluencers, or financial influencers who share investment advice online, are reshaping how consumers access, evaluate, and act on financial information. This study examines how their credibility signals influence investment intentions through the mediating role of trust and the moderating effects of regulatory focus and financial literacy. Two experiments were conducted: Study 1 tested the direct and mediated effects of credibility on investment intention, while Study 2 examined boundary conditions. Results show that strong credibility cues enhance trust and investment intention, with promotion-focused consumers responding more strongly than prevention-focused ones. Financial literacy moderates these effects: Low-literacy consumers are more influenced by credibility cues, whereas high-literacy individuals rely on personal judgment. By integrating Signaling Theory with psychological and cognitive mechanisms, this study extends consumer behavior research to financial contexts, highlighting how perceived credibility, trust, and individual differences shape consumers’ financial decision-making in social media environments.</p>

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Finfluencer credibility and trust: how regulatory focus and financial literacy shape consumer financial behaviour

  • 期刊论文

  • 发表日期：

    2026年6月19日

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  • Tareq Rasul,
  • Wagner Junior Ladeira,
  • Musarrat Shaheen,
  • Skakeb Akhtar,
  • Asif Khan,
  • Fernando de Oliveira Santini

摘要

Finfluencers, or financial influencers who share investment advice online, are reshaping how consumers access, evaluate, and act on financial information. This study examines how their credibility signals influence investment intentions through the mediating role of trust and the moderating effects of regulatory focus and financial literacy. Two experiments were conducted: Study 1 tested the direct and mediated effects of credibility on investment intention, while Study 2 examined boundary conditions. Results show that strong credibility cues enhance trust and investment intention, with promotion-focused consumers responding more strongly than prevention-focused ones. Financial literacy moderates these effects: Low-literacy consumers are more influenced by credibility cues, whereas high-literacy individuals rely on personal judgment. By integrating Signaling Theory with psychological and cognitive mechanisms, this study extends consumer behavior research to financial contexts, highlighting how perceived credibility, trust, and individual differences shape consumers’ financial decision-making in social media environments.