Title: Examine behavioural and cultural aspect of online mutual fund investor intention by technological adoption and intention theory

Authors: Kinnarry Thakkar; Shyambihari Prajapati; Harsha Jariwala; Ajay Trivedi; Priyanka Bhatt; Ritesh Patel

Addresses: University of Mumbai, Maharashtra, India ' Karnavati University, Uvarsad, Gandhinagar, Gujarat, India ' Indian Institute of Management Jammu, Jammu and Kashmir, India ' Institute of Management Studies, Parul University, Waghodia, Gujarat, India ' SAL Institute of Management, Ahmedabad, Gujarat, India ' Sanjivani College of Engineering, Savitribai Phule Pune University, Maharashtra, India

Abstract: Online mutual funds are popular among individuals in India. Mobile applications provide investors with the ability to customise digital mutual funds. The present study assesses the various factors pertaining to online mutual funds. A cross-sectional survey was conducted to collect responses from online mutual fund investors in Gujarat, resulting in a sample size of 400 valid responses. The structural equation models (PLS-4) were utilised for the analysis of the model. Research findings suggest that online mutual fund investing is influenced by factors such as performance expectations, perceived benefits, and trust. The adoption of mutual funds is primarily motivated by the desire to achieve superior performance and reap associated benefits. The findings of this study have the potential to assist marketers and policymakers in promoting investor engagement through the streamlining of investment processes and technology.

Keywords: online mutual fund; buying intention; investment; perceived trust; adoption; technology.

DOI: 10.1504/IJICBM.2025.149919

International Journal of Indian Culture and Business Management, 2025 Vol.36 No.3, pp.320 - 344

Received: 25 Sep 2023
Accepted: 29 Sep 2023
Published online: 18 Nov 2025 *

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