Factors Affecting Personal Investment in Mutual Funds via Mobile Applications: An Empirical Analysis

Dewi Rahmayanti; Ridwan Nurazi; Doni Aidul Adha

doi:10.56225/finbe.v3i2.364

Authors

Dewi Rahmayanti Faculty of Economic and Businesses, Universitas Bengkulu, Bangka Hulu, Sumatera, 38371 Bengkulu, Indonesia
Ridwan Nurazi Faculty of Economic and Businesses, Universitas Bengkulu, Bangka Hulu, Sumatera, 38371 Bengkulu, Indonesia
Doni Aidul Adha Faculty of Economic and Businesses, Universitas Bengkulu, Bangka Hulu, Sumatera, 38371 Bengkulu, Indonesia

DOI:

https://doi.org/10.56225/finbe.v3i2.364

Keywords:

Mutual funds investment, Mobile platforms, Intention, Financial literacy,, Investment experience

Abstract

Investing in mutual funds involves delegating financial decisions to an investment manager, and technological advances have made investments accessible on mobile platforms, providing various convenient features. This research empirically investigates whether individuals' behavior to invest in mutual funds on mobile platforms is still influenced by intention, possessing adequate financial literacy, and investment experience. Utilizing the construct Theory of Reasoned Action (TRA), the scale measured consists of 22 indicators related to the selected constructs and variables. Data were collected from 237 individual respondents from Indonesian society who have or have never invested in mutual funds on mobile platforms. PLS-SEM was used for statistical analysis. The findings reveal that attitudes, subjective norms, and financial literacy positively impact intention. Then, intention, financial literacy, and experience strongly influence individuals to invest in mutual funds via mobile platforms. This indicates that investing in mutual funds on mobile platforms is still based on strong intentions, adequate financial literacy, and experience in investing. The findings of this research will contribute to understanding individual behavior in investing, especially in using technology in investment. Furthermore, the important findings in this research can provide valuable guidance for policymakers, such as governments, Indonesian stock exchanges, and investment managers.

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