Individual investors' satisfaction and loyalty in online securities trading using the technology acceptance model

Nguyen, Hien Tran; Pham, Long; Williamson, Stan; Hung, Nguyen Duy

doi:10.1504/ijmdm.2020.108233

Cited by 16 publications

(27 citation statements)

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“…According to Afif et al (2018), perceived ease of use has a positive impact on user attitudes in using online stock trading systems. This is also confirmed by Chong et al (2021) and Nguyen et al (2020) studies, which both claim that perceived ease of use has a positive impact on user attitudes in using stock trading applications. The more easily the information system is utilized, the more easily the technology is accepted, and the greater the purpose of employing the technology or information system (Davis, 1989).…”

Section: Perceived Ease Of Usesupporting

confidence: 60%

“…Various prior studies have attempted to utilize this theory to explain the behavioral intention to use online investment platforms, such as research conducted by Seiler and Fanenbruck (2021), which explains the behavioral intention to use digital investment solutions in the form of Robo Advisors using TAM and divides these factors into several dimensions, including platforms, e-commerce, technology, and two variable controls, namely socio-demographic variables and FinTech variables (Seiler & Fanenbruck, 2021). Nguyen et al (2020) use TAM to explain the intention to use online securities trading by including other factors such as perceived security, perceived trust, perceived privacy, switching costs, and loyalty. Meanwhile, Khan et al (2020) used TAM theory to evaluate the intention to use electronic stock trading and added an analysis of risk in stock transactions, which was perceived in terms of time risk, financial risk, performance risk, social risk, privacy risk, and opportunity cost risk.…”

Section: Empirical Research On Behavioral Intention To Use Online Inv...mentioning

confidence: 99%

“…Thus, the following hypothesis is proposed: H1: Perceived ease of use positively affects users' attitude toward online capital market investment platforms Several prior studies on investment platforms attempted to explain the association between perceived ease of use and behavioral intentions. Aside from influencing attitudes, various research have shown that perceived ease of use has a favorable impact on improving the behavioral intention of online investment platforms (Afif et al, 2018;Chong et al, 2021;Nguyen et al, 2020;Roca et al, 2009;Seiler & Fanenbruck, 2021). Starting with the platform, e-commerce, FinTech, socio-demographic specific variables, and TAM-specific variables, it is known that the specific TAM variable perceived ease of use is the key driving factor that most influences the intention to use mobile financial services.…”

Section: Perceived Ease Of Usementioning

confidence: 99%

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Factors Affecting Individuals’ Behavioral Intention to Use Online Capital Market Investment Platforms in Indonesia

Nainggolan

Handayani

2023

IJIKM

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Aim/Purpose: This study aims to examine the ten factors from the Technology Acceptance Model (TAM), Theory of Planned Behavior (TPB), and Unified Theory of Acceptance and Use of Technology (UTAUT) theories in order to analyze behavioral intentions to use the Indonesian online capital market investment platforms and the effect of behavioral intentions on actual usage. Background: The potential growth of capital market investors in Indonesia is large, and the low use of the Internet for investment purposes makes it necessary for stakeholders to understand the factors that affect people’s intentions to invest, especially through online platforms. Several previous studies have explained the intention to use online investment platforms using the TAM and TPB theories. This study tries to combine TAM, TPB, and UTAUT theories in analyzing behavioral intentions to use an online capital market investment platform in Indonesia. Methodology: The research approach employed is a mixed method, particularly explanatory research, which employs quantitative methods first, followed by qualitative methods. Data were collected by conducting interviews and sending online surveys. This study was successful in collecting information on the users of online capital market investment platforms in Indonesia from 1074 respondents, which was then processed and analyzed using Covariance-Based Structural Equation Modeling (CB-SEM) with the IBM AMOS 26.0 application. Contribution: This study complements earlier theories like TAM, TPB, and UTAUT by looking at the intention to use online capital market investment platforms from technological, human, and environmental viewpoints. This study looks at the intention to use the online capital market investing platform as a whole rather than separately depending on investment instruments. This study also assists practitioners including regulators, the government, developers, and investors by offering knowledge of the phenomena and factors that can increase the capital market’s investment intention in Indonesia. Findings: Attitudes, perceived ease of use, perceived behavioral control, subjective norm, and national pride were found to be significant predictors of the intention to use online investment platforms in Indonesia, whereas perceived usefulness, perceived risk, perceived trust, perceived privacy, and price value were not. Recommendations for Practitioners: All practitioners must be able to take steps and strategies that focus on factors that have a significant impact on increasing usage intentions. The government can enact legislation that emphasizes the simplicity and convenience of investment, as well as launch campaigns that encourage people to participate in economic recovery by investing in the capital market. Meanwhile, the developers are concentrating on facilitating the flow of investment transactions through the platform, increasing education and awareness of the benefits of investing in the capital market, and providing content that raises awareness that investing in the capital market can help to restore the national economy. Recommendation for Researchers: Further research is intended to include other variables such as perceived benefits and perceived security, as well as other frameworks such as TRA, to better explain individuals’ behavioral intentions to use online capital investment platforms. Impact on Society: This study can help all stakeholders understand what factors can increase Indonesians’ interest in investing in the capital market, particularly through online investment platforms. This understanding is expected to increase the number of capital market participants and, as a result, have an impact on economic recovery following the COVID-19 pandemic. Future Research: Future research is expected to investigate additional factors that can influence individuals’ behavioral intention to use an online capital market investment platform, such as perceived benefits and perceived security, as well as the addition of control variables such as age, gender, education, and income. International research across nations is also required to build a larger sample size in order to examine the behavior of investors in developing and developed countries and acquire a more thorough understanding of the online capital market investment platform.

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Section: Perceived Ease Of Usesupporting

confidence: 60%

Section: Empirical Research On Behavioral Intention To Use Online Inv...mentioning

confidence: 99%

Section: Perceived Ease Of Usementioning

confidence: 99%

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Factors Affecting Individuals’ Behavioral Intention to Use Online Capital Market Investment Platforms in Indonesia

Nainggolan

Handayani

2023

IJIKM

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“…First, by interacting with or replying to customers on social media platforms, business owners can form a bond with customers and understand their opinions. As most social media platforms provide the function of poll, it is very easy for business owners to create one to conduct surveys or marketing research and use that valuable information to define or improve the designs of their products and services (Lan, 2006), creating positive influence on customers' purchasing decisions (Jackson, 2005;Nguyen et al, 2020).…”

Section: Introductionmentioning

confidence: 99%

The effects of use of multiple social media platforms on firm performance: An empirical study

Tacheva

Qian²,

Tao

et al. 2022

IJMDM

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Social media provides an opportunity for companies to interact with customers, improves the design process, and ensures that companies deliver products and services that meet customers' expectations. Previous studies have conceptualised and debated on the link between social media and firm performance, but few have investigated the business values of social media empirically with detailed measurement of usage of multiple social media platforms. Employing regression analysis with a dataset consists of 290 S&P 500 companies from 2015 to 2018, this study proposes to empirically test the relationship between social media platforms usage and firm 130 C-C. Chou et al.performance. Our findings indicate that companies can benefit from having their business accounts on Facebook and Twitter with frequent use of such platforms, but the results from YouTube usage tell a different story.

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“…For instance, companies can conduct polls on their social media sites and solicit inputs on new products, or thoughts on a current project in progress (Lan, 2006). In additional, the companies can use such bonds to enhance a positive attitude of customers to the companies, which has positive influence on their purchasing decision (Jackson, 2005;Nguyen et al, 2020). These kinds of activities not only aid customer relationship management, but also generate valuable data for companies to steer the course of current research and development.…”

Section: Introductionmentioning

confidence: 99%

Business value of social media adoption: a comparison between the US and Taiwan

Chou¹,

Lee²,

Zhang³

et al. 2022

IJMDM

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With the growing number of social media users, companies are engaging in social media adoption to take advantage of, and cope with this trend. Previous studies have identified the business value of social media adoption, but few have discussed the influence of social media with detailed usage measurements in a cross-country setting. Using two sets of panel data collected from the US and Taiwan, this study employs regression analysis with clearly defined measurements of social media usage to empirically test the business value of social media platforms. We find that companies do benefit

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Individual investors' satisfaction and loyalty in online securities trading using the technology acceptance model

Cited by 16 publications

References 0 publications

Factors Affecting Individuals’ Behavioral Intention to Use Online Capital Market Investment Platforms in Indonesia

Factors Affecting Individuals’ Behavioral Intention to Use Online Capital Market Investment Platforms in Indonesia

The effects of use of multiple social media platforms on firm performance: An empirical study

Business value of social media adoption: a comparison between the US and Taiwan

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