Factors Affecting Retail Investors’ Intentions to Use Financial Robo-Advisors in the Middle of COVID-19 in Vietnam

Thuy Chung Phan, Dao Quynh Dam Nguyen, Lam Van Le and Kurniawan Saefullah

Chapter 11 in Emerging and Evolving Business and Management Issues in Vietnam:Research and Practice, 2024, pp 335-368 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This study aims to identify factors influencing retail investors’ intentions to use automated financial advisors (or financial robo-advisors) during the COVID-19 pandemic in Vietnam. We used an online survey to collect data through a structured questionnaire. We then adopted the structural equation modeling (SEM) approach to test the conceptual model on 333 respondents without experience with robo-advisors. The results show that trust, the tendency to rely on robo-advisors, financial knowledge, and the COVID-19 pandemic are key driving factors that affect retail investors’ intentions to use robo-advisors in their investment processes. Our results suggest managerial implications for financial service providers to develop their business strategies in line with the rise and development of fintech.

Keywords: Strategic Management; Environmental Uncertainty; Digital Marketing; Marketing and Digital Shift; Cultural Intelligence; Quality Measurement; Prosumption; Transitional Economy; IoT Adoption; Market Orientation; Social Investment; Productivity Growth; Fintech; New Managerialism; Financial Literacy; Digital Literacy; Personal Financial Management; Digital Financial Services; Vietnam (search for similar items in EconPapers)
JEL-codes: F23 F44 M1 M11 M16 M31 (search for similar items in EconPapers)
Date: 2024
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