Title: Role of perceived risk and computer self-efficacy in predicting online stock trading intention

Authors: Rajdeep Kumar Raut; Rohit Kumar

Addresses: Jaipuria Institute of Management, Jaipur, India ' Amity Business School, Amity University, Patna, Bihar, India

Abstract: This study examines the impact of behavioural antecedents on individual investors' intention in the context of two most risk intensive decision-making areas, i.e., stock market and technology. The variables of the theory of planned behaviour and technology acceptance model were taken together along with two external variables: perceived risk and computer self-efficacy to hypothesise the conceptual model. The findings, based on 258 valid responses, showed that all variables, except perceived usefulness and subjective norms, had a significant impact on investors' intention to trade online. It was also found that attitude and perceived risk were significantly playing the mediating role to strengthen the relationships; however, perceived risk was found to be a partial mediator between computer self-efficacy and intention of investors. Finally, perceived risk was also found to be a significant moderator of online trading intention of investors. This study has provided a successful implication of an integrated model and suggested practical and managerial implication of the findings.

Keywords: information and communication technology; ICT; technology acceptance model; TAM; theory of planned behaviour; TPB; investment decision; stock market.

DOI: 10.1504/IJBIS.2024.143871

International Journal of Business Information Systems, 2024 Vol.47 No.4, pp.552 - 575

Received: 02 Aug 2020
Accepted: 20 May 2021
Published online: 12 Jan 2025 *

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