SIG - Adoption and Diffusion of IT

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Paper Type

Complete

Paper Number

1297

Description

This study aims at identifying factors influencing robo-advisory demand and usage. We show that it is essential to tell apart the intention to invest in financial markets from the intention to use robo-advisor technology. Therefore, we develop an augmented model of the “Unified Theory of Adoption and Use of Technology” (augmented UTAUT model) that allows to explain both of these customers’ intentions simultaneously. The model is evaluated by means of a PLS approach using online survey data collected in the US and Germany. Empirical results shed light on (potential) investors’ intentions and attitudes towards robo-advisory services. The model developed in this paper is generally applicable whenever it comes to model adoption of a new technology that relies on the use of a basic product or a basic technology.

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Aug 10th, 12:00 AM

An Augmented UTAUT Model for Robo-Advisor Adoption

This study aims at identifying factors influencing robo-advisory demand and usage. We show that it is essential to tell apart the intention to invest in financial markets from the intention to use robo-advisor technology. Therefore, we develop an augmented model of the “Unified Theory of Adoption and Use of Technology” (augmented UTAUT model) that allows to explain both of these customers’ intentions simultaneously. The model is evaluated by means of a PLS approach using online survey data collected in the US and Germany. Empirical results shed light on (potential) investors’ intentions and attitudes towards robo-advisory services. The model developed in this paper is generally applicable whenever it comes to model adoption of a new technology that relies on the use of a basic product or a basic technology.

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