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With the popularity and wide spread of mobile Internet services, the utilization of mobile devices to trade stocks among investors is becoming an unavoidable trend in Taiwan stock market. Without the limit of time and space, mobile stock trading helps investors to sell and buy stocks in a more convenient way than ever before and changes their stock trading behaviors slowly but surely. Based upon the theoretical perpscitve of technology readiness and technology acceptance model (TAM), this study proposed a conceptual framework to examine the causal relationships among mobile device characteristics, technology readiness influences, perceived usefulness, and perceived ease of use on investors’ behavioral intentions and actual usage towards mobile stock trading. In such an upswing trend of mobile stock trading, the majority of securities firms have rushed into this market. The mobile stock trading has also gradually attracted the attentions of investors. This novel stock trading mode merits stock investors to use the mobile trading services to make transactions of financial products with a more convenient and limitness way.
Based upon the technology acceptance model (TAM), this study integrated the theoretical perspective of technology readiness (TR) to explore the effects of the important factors that may influence investors’ participating intentions towards mobile stock trading. Through extensive literature review, sub-constucts of mobile device characteristic, technology readiness were identified as the important antecedents to construct a conceptual framework to explore the causal relationships among the major constructs of the aforementioned conceptual framework. The valid responses of 268 investors using mobile stock trading in Taiwan stock market were collected as for our survey subjects. The partial least squares (PLS) technique was applied to validate the proposed hypotheses and research model.
The research findings indicate that except for the insignificant impact of on perceived ease of use, the causal relationships among mobile device characteristics, technology readiness, perceived usefulness, perceived ease of use and investor behavioral intention are significantly assured. In addition, investor behavioral intention is positively associted with actual use. The empirical results are expected to contribute to be instrumental for securities firms to enhance their mobile trading platform and provide valuable practical implications to help understand the actual needs of stock investors for their future competitive advantage in business environment of the Taiwan Stock Market.
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