Title: Investigating effect of social media advice and corporate information on retail investors' decisions in stock market

Authors: Atul Shiva; Manjit Singh; Rishi Raj Sharma; Monica Sethi

Addresses: University School of Business, Chandigarh University, Mohali, India ' University School of Applied Management, Punjabi University, Patiala, India ' Department of Commerce and Business Management, Guru Nanak Dev University, Gurdaspur, Punjab, India ' Sri Aurobindo College of Commerce and Management, Ludhiana, India

Abstract: The present study aims to examine determinants of social media used by companies for information dissemination to influence retail individual investors' intentions to invest in financial market. The study used variance-based partial least square structural equational modelling on a cross - sectional study conducted on 376 active investors. Adapted questionnaire under technology acceptance model (TAM) framework was conducted by survey on Twitter covering Delhi-NCR and Mumbai of India. The study explored significant relation between perceived usefulness (β = 0.423), perceived enjoyment (β = 0.311) and behavioural intentions. Furthermore, a significant relation was discovered between perceived attractiveness (β = 0.583; β = 0.785), perceived usefulness and perceived ease of use. The paper investigates an interdisciplinary research between behavioural finance and social media to gain widespread collaboration in the future and act as guidelines for decision-makers in financial markets of developing countries like India.

Keywords: social media; Twitter; individual investor; partial least square structural equation modelling; technology acceptance model; TAM.

DOI: 10.1504/IJBG.2024.137400

International Journal of Business and Globalisation, 2024 Vol.36 No.2/3, pp.162 - 185

Received: 08 May 2020
Accepted: 12 Sep 2020
Published online: 18 Mar 2024 *

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