<![CDATA[Introduction: This study investigates the influence of financial influencers and the framing effect on investment decisions and examines the moderating role of financial literacy among Generation Z in Semarang City. The study is motivated by the increasing investment activity among Gen Z, who are typically exposed to financial content on social media and are susceptible to persuasion-based and framing-based behavioral bias.Methods: This study utilized a quantitative descriptive research design, and data were gathered from 220 respondents via an online questionnaire (Google Form) using convenience sampling. Partial Least Squares Structural Equation Modeling (PLS-SEM) was applied in this study to examine the data. Results: The findings show that financial influencers, framing effect, and financial literacy each positively and significantly affect investment decisions. Financial literacy significantly moderates (weakens) the effect of the framing effect on investment decisions, but does not significantly moderate the effect of financial influencers on investment decisions. These findings extend the empirical behavioral finance literature and offer practical contributions toward increasing financial literacy among Gen Z, enabling them to evaluate influencer-driven and framed financial information more critically. Keywords: Financial Influencer, Financial Literacy, Gen Z, Herding Bias, Investment Decision]]>
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