How advice and its source characteristics prompts changes in investment decisions

Robin S. Poston, Clayton A. Looney, Asli Y. Akbulut

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

People are using the Internet for financial planning assistance. Yet those seeking advice on the Internet rarely tend to question the advice source. Little research has examined the unique aspects of online financial advice taking. Online advice offers a unique setting which does not mirror "offline advice". This paper addresses the research questions (1) What kinds of people are more likely to change their investment decisions given different online source characteristics, (2) How do people change their investment decisions given the disclosure of human vs. computer advice sources, and (3) How do people change their investment decisions given the disclosure of source credibility? This study finds that users with higher levels of task-specific self-efficacy are less likely to take advice and certain online design features influence changes in investment advice taking.

Original languageEnglish
Title of host publicationAssociation for Information Systems - 13th Americas Conference on Information Systems, AMCIS 2007
Subtitle of host publicationReaching New Heights
Pages116-124
Number of pages9
StatePublished - 2007
Event13th Americas Conference on Information Systems, AMCIS 2007 - Keystone, CO, United States
Duration: Aug 10 2007Aug 12 2007

Publication series

NameAssociation for Information Systems - 13th Americas Conference on Information Systems, AMCIS 2007: Reaching New Heights
Volume1

Conference

Conference13th Americas Conference on Information Systems, AMCIS 2007
Country/TerritoryUnited States
CityKeystone, CO
Period08/10/0708/12/07

Keywords

  • Advice taking
  • Human vs. computer sources
  • Laboratory study
  • Online investing
  • Source characteristics
  • Source credibility

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