The purpose of this research is to examine which issues may influence investor acceptance of an Internet trading system based on investment behavior and a disaggregated version of the Theory of Planned Behavior (DTPB) in the Thai financial market. After such an analysis, the factors influencing the adoption of the Internet trading system and the relationships between the factors were identified. Internet trading is a combination of Internet capabilities and trading services to enable virtual stock transactions.
Moreover, internet trading provides stock information such as real-time stock prices, ticker and fundamental information of the companies. The convenience of the Internet has given investors quick and easy access to stock trading, which attracts more newcomers to invest in the stock (Insight Xplorer, 2007). The results of the study will enable brokerage firms and SET to gain greater insight into customer insights, which can identify the factors that influence customers to adopt online stock trading by using behavioral analysis.
The first section presents an overview of theories about technology adoption models, followed by a discussion of the research approaches that have been used. The purpose of the review is to test the development of a model used in this study to understand and explain investor behavior. The purpose of this review is to learn more about technology adoption patterns and use it in this study to identify investor behavior in adopting online trading.
Another construct, perceived ease of use, can be interpreted as an individual's perception of the amount of effort required to use an information system.
Relevant empirical studies
Perceived ease of use refers to the degree to which the person thinks that using online commerce will be effortless. Compatibility refers to the degree to which an innovation is perceived to be consistent with the existing values, needs, and past experience of potential adopters. In addition to attitude, subjective norm is an important factor that drives people's intention, which refers to the belief whether most people approve or disapprove of the behavior.
Moreover, perceived behavioral control is a notable factor that also drives people's intention, which refers to the perception of the availability of skills, resources and opportunities. The present research examined perceived behavioral control using the factors of resource facilitation, technology facilitation conditions, and self-efficacy to measure this construct. Which resource facilitating conditions will focus on the money and time needed to make use of the innovation and the factor of technology facilitating conditions will focus on technology available which is needed to make use of the innovation and the last one is self-efficacy which will focus on the capability of the investor on technology.
Studies have been conducted in several countries, such as the United States, to examine the antecedents of technology adoption, particularly in Internet commerce. As far as the author is aware, there is no research on the implementation of Internet trading in Thailand.
RESEARCH METHODOLOGY
Research Design
Population and sample
Instrumentation
Using an internet trading system to place an order will be the same as using the phone and messaging a broker. 4 I believe it will be easy to make the system do what I want. I didn't choose to use an internet trading system, experienced people are the ones who choose the system for me.
Peer Influence 11 If most of my friends think the system is useful, I will follow them. If the stock market expects everyone to use the Internet trading system, I will follow. I can complete my transaction using the Internet trading system if there is no one around to tell me what to do.
I want to save time, money and other resources such as effort to learn to use this system as long as the benefit of using it can cover the resource used.
Data analysis
RESEARCH FINDINGS
Respondents’ Demographic Profile
Respondents’ Investment Background
Profile of respondents
Factor analysis
While factor analyzes were conducted, correlational analyzes were conducted using data obtained from the sample (n = 200).
Reliability
Multiple Regression
DISCUSSION AND LIMITATIONS OF THE STUDY
Discussion
Recommendation
Collectivism will influence the decisions of Thais, for example, when Thais are faced with a choice, it will be best to turn to reference social groups to understand the best course of action and role in a particular activity (Eduasia, 2012). If so, a future study examining potential adopters of online trading among consumers who do not have an offline brokerage portfolio in the first place would be valuable. Another important area for future research is the factors that influence investors' decisions to continue online trading.
This question is perhaps most important to the long-term profitability of brokerage firms, because retaining key customers is critically important to the profitability of financial institutions. Finally, the costs of online trading are often a variety of unobservable costs, including speed of execution and methods of conducting transactions, which are worth further investigation.
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APPENDICES
Appendix A: Questionnaire (English)
I believe that the previous knowledge of the investment market will help me to use the internet trading system. Instructions: Please answer one of the choices that you would most likely make in the following situation: where 1 = definitely not, 2 = probably not, 3 = probably will, and 4 = definitely will, respectively. The next questions will be about your demographic information for our analysis purposes.
Appendix B: Questionnaire (Thai)
โปรดระบุเพศของคุณ
โปรดระบุอายุของคุณ: _______ ปี
