Work

The acceptance of financial robo-advisors among investors: The emerging market study

Year: 2022

Type: article

Abstract: Robo-advisory services are a relatively new concept in the financial world. However, Epperson, Hedges, Singh, and Gabel (2015) report that many investors are extremely interested in employing robo-advisors to manage their finances. Nowadays, robo-advisers develop profiles of investors using very basic surveys to determine their investing preferences. The advantage of robo-advisory is that it charges far less than traditional private bankers (PB) since robo advisors do not require additional labour (Cho, 2019). Having considered the utility of such services, this research aims to examine the acceptance of financial robo-advisors. The findings indicate that average monthly income, value invested in financial instruments, and investment knowledge affect an acceptance of financial robo-advisors as regards their effects on profits, careers in finance, and the overall economic system, and vice versa. The drawback of the study is that the results demonstrate the relationship between independent and dependent variables without delving into each variable in detail. Thus, qualitative research may be necessary for addition to quantitative one to go further into the details. The paper suggests that providing information about robo-advisors for investors can enhance the understanding of robo-advisors leading to the increasing use of robo-advisors in Thailand.

Source: Journal of Governance and Regulation

DOI: 10.22495/jgrv11i2siart12

Authors: Tanpat Kraiwanit, Kris Jangjarat, Jarturon Atcharanuwat

Institution: Rangsit University

Language: English

Topic: FinTech, Crowdfunding, Digital Finance

Subfield: Management Information Systems

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: diamond

Funder: Rangsit University