Investigating the impact of financial robo-advisor on the investment decision-making

Abstract

This study aims to investigate the influence of different facilitators and Inhibitors on the behaviour intention (BI) to use a financial Robo-advisor and consequently its impact on the investment decision-making. The study proposed Trust and technology self-efficacy as facilitator and complexity and perceived risk as inhibitors that can impact BI to use a roboadvisor. Furthermore, the study also proposed Financial Literacy as a moderator between the relationship of BI and investment decision-making. Collected valid responses were analysed using structure equation modelling by using Smart PLS 4 to evaluate the hypotheses. The discovery of the present study indicated that the facilitator and inhibitor factors have a significant influence on BI and BI on investment decision-making. Moreover, financial literacy has a significant moderating impact on the relationship between BI and investment decision making.