Designing a model for the acceptance of electronic stock exchange by individual investors

Abstract

Acculturation in the field of familiarity of stockholders and individuals with modern methods of electronic stock exchange has a special position. Applying and paying attention to these methods is an inevitable and considerable issue. So, developing electronic stock exchange culture is considered one of the research priorities in our country. One of the fields for this subject is innovation and technology acceptance model [1]. In this study we have tried to identify necessary strategies for developing the culture of electronic stock exchange in order to access productivity in capital market as well as productivity of service section and at last increasing productivity in the whole economy. In this study, attempts are made to recognize effective factors in enhancing intension to use electronic stock exchange application by real investors through combining models of innovation diffusion and technology acceptance and merging it with dimensions of online trading. Period of data collection for this research has been from July to September 2009. Structural equations modeling has been used by means of LISREL software in order to test this model. Results reveal that there is a relationship between normal tendencies, perceived ease of use, perceived risk and market effectiveness with intension to use electronic stock exchange. © 2010 Published by Elsevier Ltd.