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

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Listed:
  • Chandani, Arti
  • Sanghvi, Manisha
  • Wagholikar, Smita
  • Pathak, Mohit
  • Bagade, Sonali
  • Ubarhande, Prashant
  • Saini, Udita

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.

Suggested Citation

  • Chandani, Arti & Sanghvi, Manisha & Wagholikar, Smita & Pathak, Mohit & Bagade, Sonali & Ubarhande, Prashant & Saini, Udita, 2025. "Extending the technology acceptance model (TAM): Factors influencing behavioural intentions of investors to use the advice of finfluencers," Journal of Behavioral and Experimental Finance, Elsevier, vol. 47(C).
    • Handle: RePEc:eee:beexfi:v:47:y:2025:i:c:s2214635025000735
    DOI: 10.1016/j.jbef.2025.101092
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    Keywords

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    JEL classification:

    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G53 - Financial Economics - - Household Finance - - - Financial Literacy
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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