Factors Motivating Young Investors towards Continuation of Use of Mobile Applications for Investing in Stocks and Mutual Funds: A Regression – ANN Approach

Abstract

Mobile applications have made transactions possible at the fingertips. There is a huge acceptability of mobile wallets and payment as well as investment mobile apps among people. In recent years, the participation of the young Indian population has significantly increased in the stock market and mutual fund’ investments. There is a very important role of mobile applications in this overwhelming participation. This study tests the important antecedents of technology adoption on the continuation of use of mobile applications by youth for stock market and mutual funds investment. This study is descriptive in nature, in which data were collected from 311 young investors between the age group of 18 to 35. The final questionnaire contained 21 statements. The data analysis was conducted with the help of “Exploratory Factor Analysis (EFA)” and “Multiple Regression Analysis (MRA)”. The results were further validated with “Artificial Neural Network”. ANN was applied 10 times while taking 70% data for training and 30% data for testing. The study confirms that “perceived ease of use”, “perceived usefulness”, “social influence” and “trust” play a significant role in ensuring the connection of young investors with the mobile applications