Accès libre

Determinants of mobile stock investment application adoption and its impact on intention to recommend the applications in emerging countries: a case study of Indonesia

,  et   
24 oct. 2024
À propos de cet article

Citez
Télécharger la couverture

Adam, M.K., Ikhsan, R.B., & Yuniarty. (2023). "Adoption of Stock Investment Apps: Explaining the Effect of Sunk Cost, Inertia, and Perceived Need," 2023 8th International Conference on Business and Industrial Research (ICBIR), Bangkok, Thailand, 2023, pp. 1243-1248, https://doi.org/10.1109/ICBIR57571.2023.10147523. Search in Google Scholar

Ahmadi, H. (2023). Is cryptocurrency risky as an investment instrument? Analysis of return and risk with a comparison of Shariah stocks. International Journal of Islamic Business Ethics. 8(1), 40. https://doi.org/10.30659/ijibe.8.1.40-53. Search in Google Scholar

Ahmed, F., Kousar, S., Pervaiz, A., Shabbir, A. (2022). Do institutional quality and financial development affect sustainable economic growth? Evidence from South Asian countries, Borsa Istanbul Review 22(1), 189-196. https://doi.org/10.1016/j.bir.2021.03.005. Search in Google Scholar

Alwi, S. F. S., Melewar, T.C., Cuomo, M. T., Schwaiger, M. (2020). Digital Society and Corporate Reputation: Towards the Next Generation of Insights. Corp Reputation Rev 23, 129-132. https://doi.org/10.1057/s41299-020-00098-x. Search in Google Scholar

Bank for International Settlements. (2021). The rise of retail investors: implications for market functioning and financial stability. BIS Quarterly Review, March 2021, 1-16. https://www.bis.org/publ/qtrpdf/4_qt2103v.htm. Search in Google Scholar

Bohnert, M., Gracia, P. (2021). Emerging Digital Generations? Impacts of Child Digital Use on Mental and Socioemotional Well-Being across Two Cohorts in Ireland, 2007–2018. Child Ind Res 14, 629–659. https://doi.org/10.1007/s12187-020-09767-z. Search in Google Scholar

Cham, TH., Cheah, JH., Memon, M.A., Fam, K., Lazlo, J. (2022).. Digitalization and its impact on contemporary marketing strategies and practices. Journal of Marketing Analysis. 10, 103-105. https://doi.org/10.1057/s41270-022-00167-6. Search in Google Scholar

Chao, C. (2019). Factors Determining the Behavioral Intention to Use Mobile Learning: An Application and Extension of the UTAUT Model. Frontiers In Psychology, 10. https://doi.org/10.3389/fpsyg.2019.01652. Search in Google Scholar

Chin, A.G., Harris, M.A. & Brookshire, R. (2022). An Empirical Investigation of Intent to Adopt Mobile Payment Systems Using a Trust-based Extended Valence Framework. Inf Syst Front 24, 329–347. https://doi.org/10.1007/s10796-020-10080-x. Search in Google Scholar

Chong, L., Ong, H., and Tan, S. (2021). Acceptability of mobile stock trading application: A study of young investors in Malaysia. Technology In Society, 64, 101497. https://doi.org/10.1016/j.techsoc.2020.101497. Search in Google Scholar

Chong, T.T.L., & Chan, F.T.S. (2012). Mobile technology and its impact on stock market volatility: Evidence from Hong Kong. Decision Support Systems, 53(4), 789-297. https://doi.org/10.1016/j.dss.2012.03.006. Search in Google Scholar

Cohen, L., Manion, L., and Morrison, K. (2007). Research methods in Education. London: Routledge. Search in Google Scholar

Das, K. K., & Ali, S. (2020). The role of digital technologies on the growth of mutual funds industry: An empirical study. International Journal of Research in Business and Social Science (2147- 4478), 9(2), 171–176. https://doi.org/10.20525/ijrbs.v9i2.635. Search in Google Scholar

Gao, Y., & Li, H. (2018). Mobile technology and stock market participation: Evidence from China. International Review of Economics & Finance, 58, 519-534. https://doi.org/10.1016/j.iref.2017.11.007. Search in Google Scholar

George (2019, February 21). The Rational Investor. A Sense of Wealth, available at: The Rational Investor - A Sense of Wealth. Search in Google Scholar

Gladys C., and Daka, J. P. (2016). “Factors Driving the Adoption of E-banking Services Based on the UTAUT Model”, International Journal of Business and Management, 14(6), 43. Search in Google Scholar

Hair, H.F., Hult, G.T.M., Ringle, C.M., & Sarstedt, M. (2022). A Primer on Partial Least Squares Structural Equation Modelling (PLS-SEM) (3rd ed.). Thousand Oaks, CA: Sage. Search in Google Scholar

Hasan, N., Bao, Y., & Chiong, R. (2022). A multi-method analytical approach to predicting young adults’ intention to invest in m-health during the covid-19 pandemic. Telematics and Informatics, 68, 101765. https://doi.org/10.1016/j.tele.2021.101765. Search in Google Scholar

Havidz, I, L, H., Aima, M, H., Wiratih, H, W, R. (2018). Determinants of Intention to Recommend WeChat Mobile Payment Innovation in China to be Implemented in Indonesia. International Journal of Advanced Engineering Research and Science (IJAERS), 5(7), https://dx.doi.org/10.22161/ijaers.5.7.38. Search in Google Scholar

Hoque, R., and Sorwar, G. (2017). Understanding factors influencing the adoption of mHealth by the elderly: An extension of the UTAUT model. International Journal of Medical Informatics, 10(1), 75–84. https://doi.org/10.1016/j.ijmedinf.2017.02.002. Search in Google Scholar

Irimia-Diéguez, A., Velicia-Martín, F. & Aguayo-Camacho, M.l (2023). Predicting Fintech Innovation Adoption: the Mediator Role of Social Norms and Attitudes. Financial Innovation, 9,(36). https://doi.org/10.1186/s40854-022-00434-6. Search in Google Scholar

Jiménez-Castillo, D., & Sánchez-Fernández, R. (2019). The role of Digital Influencers in brand recommendation: Examining their impact on engagement, expected value and purchase intention. International Journal of Information Management, 49, 366–376. https://doi.org/10.1016/j.ijinfomgt.2019.07.009. Search in Google Scholar

Jung, N.Y., Kim, S., and Kim, S.H. (2016). The effects of consumers’ perceived benefits on attitudes and revisit intentions in an online brand community, in International Textile and Apparel Association (ITAA) Annual Conference Proceedings, 2016, pp. 1-2. Search in Google Scholar

Lee, C. C., & Hsieh, M.F. (2013). The impact of mobile technology on stock market efficiency: Evidence from Asian markets. International Review of Economics & Finance, 27, 529-537. https://doi.org/10.1016/j.iref.2012.09.001. Search in Google Scholar

Liengaard, B.D., Sharma, P.N., Hult, G.T.M., Jensen, M.B., Sarstedt, M.,Hair, J.F., & Ringle, C.M. (2021). Prediction: Coveted, Yet Forsaken? Introducing a Cross-Validated Predictive Ability Test in Partial Least Squares Path Modeling. Decision Sciences, 52(2), 362-392. Search in Google Scholar

Linge, A. A., Chaudhari, T., Kakde, B., & Singh, M. (2023). Analysis of factors affecting use behavior towards mobile payment apps: a sem approach. (2023). Human Behavior and Emerging Technologies, 1-13. https://doi.org/10.1155/2023/3327994. Search in Google Scholar

Maziriri, E. T., Mapuranga, M., and Madinga N.W. (2019), Navigating Selected Perceived Risk Elements on Investor Trust and Intention to Invest in Online Trading Platforms, Journal of Economic and Financial Sciences, 12(1). https://doi.org/10.4102/jef.v12i1.434. Search in Google Scholar

Mehrtens, J., Cragg, P.B., and Mills, A.M. (2001). A model of Internet adoption by SMEs, Inf. Manag. 39(3), 165–176, https://doi.org/10.1016/S0378-7206(01)00086-6. Search in Google Scholar

Nadeem, M., Qamar, M. A. J., Nazir, M. S., Ahmad, I., Timoshin, A., & Shehzad, K. (2020). How investors' attitudes shape stock market participation in the presence of financial self-efficacy. Frontiers in Psychology, 11. https://doi.org/10.3389/fpsyg.2020.553351. Search in Google Scholar

Nair, P. S., Shiva, A., Yadav, N., & Tandon, P. (2022). Determinants of mobile apps adoption by retail investors for online trading in emerging financial markets. Benchmarking: An International Journal, 30(5), 1623-1648. https://doi.org/10.1108/bij-01-2022-0019. Search in Google Scholar

Naveed, M., Ali, S., Iqbal, K., & Sohail, M. K. (2020). Role of financial and non-financial information in determining individual investor investment decision: a signaling perspective. South Asian Journal of Business Studies, 9(2), 261-278. https://doi.org/10.1108/sajbs-09-2019-0168. Search in Google Scholar

Nguyen, T. A. N., & Nguyen, K. M. (2020). Role of Financial Literacy and Peer Effect in Promotion of Financial Market Participation: Empirical Evidence in Vietnam. The Journal of Asian Finance, Economics and Business., 7(6), 1-8, https://doi.org/10.13106/JAFEB.2020.VOL7.NO6.001. Search in Google Scholar

Octavius, G. S., Antonio, A. (2021). Antecedents of Intention to Adopt Mobile Health (mHealth) Application and Its Impact on Intention to Recommend: An Evidence from Indonesian Customers, International Journal of Telemedicine and Applications. Volume 2021, Article ID 6698627, 24 pages https://doi.org/10.1155/2021/6698627. Search in Google Scholar

Oliveira, T., Thomas, M., Baptista, G., and Campos, F. (2016). Mobile payment: Understanding the determinants of customer adoption and intention to recommend the technology. Computers in Human Behavior, 61, 404-414. doi: 10.1016/j.chb.2016.03.030. Search in Google Scholar

Otoritas Jasa Keuangan (2022). Capital Market Fact Book 2021. Otoritas jasa keuangan. Search in Google Scholar

Prasidya, Y. (2020, August, 28). The rise of retail investor: A new force in Indonesia’s pandemic-hit stock market. The Jakarta Post, Business, p. 1. Search in Google Scholar

Putra, P. O. H., Nugroho, S., & Hidayanto, A..N. (2022). Factors affecting user retention of mobile mutual fund investment applications: evidence from Indonesia. Human Behavior and Emerging Technologies, 2022, 2-13. https://doi.org/10.1155/2022/7521680. Search in Google Scholar

Rose, K. (2023, September 28). Gen Z’s Social Media Dependency is a Bridge, Not Barriers, for Advisors, Forbes>Money, Gen Z’s Social Media Dependency Is A Bridge, Not Barrier, For Advisors (forbes.com). Search in Google Scholar

Ryan, R.M., & Deci, E.L. (2000). Self-determination Theory and the Facilitation of Intrinsic Motivation, Social Development, and Well-Being. The American Psychologist, 55(91), 68-78. DOI: 10.1037/0003-066X.55.1.68. Corpus ID: 1887672. Search in Google Scholar

Sair, S. A., and Danish, R. Q. (2018). Effect of Performance Expectancy and Effort Expectancy on Mobile Commerce Adoption Intention through Personal Innovativeness among Pakistani Consumers, Pakistan Journal of Commerce and Social Sciences, 12 (2), 501-520. Search in Google Scholar

Santia, T. (2022), PPATK Bekukan Transaksi Crazy Rich yang Terlibat Robot Trading dan Binary Option, Liputan 6 News, accessed, Feb 22, 2022, PPATK Bekukan Transaksi Crazy Rich yang Terlibat Robot Trading dan Binary Option - Bisnis Liputan6.com. Search in Google Scholar

Sharma, P.N., Liengaard, B.D., Hair, J.F., Sarstedt, M., & Ringle, C.M. (2023). Predictive Model Assessment and Selection in Composite-Based Modeling Using PLS-SEM: Extensions and Guidelines for Using CVPAT. European Journal of Marketing. 57(6), 1662-1677. Search in Google Scholar

Shmueli, G., Sarstedt, M., Hair, J.F., Cheah, J.-H., Ting, H., Vaithilingam, S. and Ringle, C.M. (2019), "Predictive model assessment in PLS-SEM: guidelines for using PLSpredict", European Journal of Marketing, Vol. 53 No. 11, pp. 2322-2347. https://doi.org/10.1108/EJM-02-2019-0189. Search in Google Scholar

Soleimani, M. Buyers' trust and mistrust in e-commerce platforms: a synthesizing literature review. Inf Syst E-Bus Manage 20, 57–78 (2022). https://doi.org/10.1007/s10257-021-00545-0. Search in Google Scholar

Spence, M. (1973). Job market signaling. Quarterly Journal of Economics, 87:355-374. Search in Google Scholar

Susana, D., and Prabhu V., (2020). A Study on Adoption of Online Stock Trading with Special Reference to Coimbatore City based on UTAUT Model, International Journal of Advanced Research in Commerce, Management & Social Sciences (IJARCMSS) 355, ISSN: 2581-7930, Impact Factor: 5.260, 03(03), pp. 355-36. Search in Google Scholar

Tai, Y. and Ku, Y. (2013) Will Stock Investors Use Mobile Stock Trading? A Benefit-Risk Assessment Based on a Modified UTAUT Model. Journal of Electronic Commerce Research, 14, 67-84. Search in Google Scholar

Tusyanah, T., Wahyudin, A., and Khafid, M., (2021), Analyzing Factors Affecting the Behavioural Intention to Use e-Wallet with the UTAUT Model with Experience as Moderating Variable., Journal of Economic Education, 10 (2) 2021: 113-123. Search in Google Scholar

Van Rooij, M., Lusardi, A., amd Alessie, R. (2011). Financial literacy and stock market participation. Journal of Financial Economics, 101(2), 449-472. doi:10.1016/j.jfineco.2011.03.006. Search in Google Scholar

Venkatesh, V., Morris, M. G., Davis, G. B., and Davis, F. D. (2003). User acceptance of information technology: Toward a unified view. MIS Quarterly, 27(3), 425-478. Search in Google Scholar

Venkatesh, V., Thong, J. Y. L., and Xu, X. (2012), Consumer Acceptance and Use of Information Technology: Extending the Unified Theory of Acceptance and Use of Technology, MIS Quarterly, 36 (1), 159-178. Search in Google Scholar

World Bank. (2021, July 29). Ensuring a More Inclusive Future for Indonesia through Digital Technologies. (Press Release). Ensuring a More Inclusive Future for Indonesia through Digital Technologies (worldbank.org). Search in Google Scholar

Xie J, Ye L, Huang W, Ye M. (2021). Understanding FinTech Platform Adoption: Impacts of Perceived Value and Perceived Risk. Journal of Theoretical and Applied Electronic Commerce Research. 16(5):1893-1911. https://doi.org/10.3390/jtaer16050106. Search in Google Scholar

Xu, C., Peak, D., and Prybutok, V. (2015). A customer value, satisfaction, and loyalty perspective of mobile application recommendations. Decision Support Systems, 79, 171–183. doi:10.1016/j.dss.2015.08.008. Search in Google Scholar

Yu, C.S. (2012). Factors affecting individuals to adopt mobile banking: Empirical evidence from the UTAUT model. Journal of Electronic Commerce Research, 13(2), 104-121. Search in Google Scholar

Yulius, R., Nasrullah, M. F. A., Handayani, S., & Thohari, A. H. (2023). Designing an investment learning app for students using design thinking approach. JISA(Jurnal Informatika Dan Sains), 6(1), 14-16. https://doi.org/10.31326/jisa.v6i1.1473. Search in Google Scholar

Zheng, J., Bakker, E., Knight, L., Gilhespy, H., Harland, C., and Walker, H. (2006). A strategic case for e-adoption in healthcare supply chains, Int. J. Inf. Manag. 26(4) (2006) 290-301, https://doi.org/10.1016/j.ijinfomgt.2006.03.010. Search in Google Scholar