Extending the technology acceptance model (TAM): Factors influencing behavioural intentions of investors to use the advice of finfluencers

Arti Chandani, Manisha Sanghvi, Smita Wagholikar, Mohit Pathak, Sonali Bagade, Prashant Ubarhande and Udita Saini

Journal of Behavioral and Experimental Finance, 2025, vol. 47, issue C

Abstract: Financial Influencers (Finfluencers) have a considerable influence on investment advice, and they use multiple social media platforms to reach target audience. Using Technology Acceptance Model (TAM), the study aims to understand how Perceived Usefulness (PU), Perceived Ease of Use (PEoU), Perceived Awareness (PA), and Subjective Norms (SN) influence the investors' Behavioural Intention (BI) to adopt the recommendations of Finfluencers. We also used Age, Gender, Education Qualification (EQ), and Investment Experience (IE) as the moderating variables. A quantitative research design was adopted, and data was collected from 442 retail investors in India which was analysed using PLS-SEM. Our findings show that PU and PEoU have a significant influence on the intention to adopt the advice of Finfluencers. PU partially mediates the relationship between PEoU and BI. The findings are useful to the regulator for granting license to them as well as to the Finfluencers to offer independent investment advice to build trust among the investors.

Keywords: Finfluencers; PLS-SEM; TAM; Financial Literacy; Regulation (search for similar items in EconPapers)
JEL-codes: G28 G53 O33 (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S2214635025000735

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:beexfi:v:47:y:2025:i:c:s2214635025000735

DOI: 10.1016/j.jbef.2025.101092

Access Statistics for this article

Journal of Behavioral and Experimental Finance is currently edited by Michael Dowling and Jürgen Huber

More articles in Journal of Behavioral and Experimental Finance from Elsevier
Bibliographic data for series maintained by Catherine Liu ().