The relationship between information and the investor decision making process: an exploratory study
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Date
2019
Authors
Creed, Anthony
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Publisher
University College Cork
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Abstract
The investment landscape continues to evolve and grow across the globe. The new
investor demographic are using new technologies and information sources to invest,
while the availability of financial information has decreased the barriers that once
existed to individual or retail investors. The advancement in financial technology
(FinTech) has created new and unique ways of interacting with investment
information and has opened multiple new ways of investing. However, there is
uncertainty regarding what the future investing landscape will entail, from the
technologies that will be used to the types of information that will be used. Reducing
this uncertainty in the future of investing is critical for organisations that are looking
to branch into these new emerging technologies. This thesis details research focused
on the relationship between the investor and the information these investors use when
making financial decisions. Multiple research methods were used throughout this
thesis. These methods are Concept Centric Matrix (CCM), RepGrid Analysis, Key
Informant Interviews, and Workshops. Each method was chosen to specifically
address the relevant research question Looking into the future of the investing
landscape involves first establishing a solid foundation on the present. The initial study
sought to explore online investor behaviour in online social trading networks. This
chapter of the thesis proposes an Investor Engagement Framework (IEF) to model the
intention of investors to engage in social trading networks and identify the key
information that investors rely on for engagement in copy trading. The next chapter
focuses on the modality effect and how it can enhance an investor’s financial decisionmaking process by providing both audible and visual financial information. The
Amazon Echo Show was used to develop a Proof-Of-Concept (POC) that enabled the
investigation of the modality effect. The final chapter examines the key trust factors
of Twitter information when used for making financial decisions by millennial
investors. This chapter focuses on the development of trust between an investor and
the information they view on Twitter. All research carried out in this thesis was
undertaken to investigate the overall relationship between the investor and the
information they use to make financial decisions. The findings of this thesis revealed
that investors valued transparent and verified financial information the most when
making financial decisions and contributes to the body of knowledge in both Finance
and IS as to how investors engage with online social investment and copy trading.
Description
Keywords
TAM , RepGrid , Investor decision making , Millennial investors , Modality effect , Social media , Copy trading
Citation
Creed, A. 2019. The relationship between information and the investor decision making process: an exploratory study. MRes Thesis, University College Cork.