Intention to Use Voluntary Disclosure Information on Social Media for Investment Decisions: Analysis Using Perceived Ease of Use and Perceived Usefulness

Gunawan Wibisono(1), Soon Yong Ang(2),


(1) Universitas Gadjah Mada, Department of Accounting, Yogyakarta, Indonesia
(2) University of Glasgow, Adam Smith Business School, Glasgow, United Kingdom

Abstract

This study analyzes investor behavior when using voluntary disclosure information posted on social media pages in their investment decision-making. To measure the relationship between belief constructs and behavioral intention, the technology acceptance model was used. To this end, two belief constructs were employed: 1) perceived ease of use and 2) perceived usefulness. These constructs were applied to the intention to use voluntary disclosure information posted on social media pages in the investment decision-making process. The study examined 150 employees as respondents, using structural equation modeling for hypothesis testing. The findings showed that investors in Indonesia viewed voluntary disclosure information posted on social media pages as affecting their intention to use such information in the process of investment decision-making. Both perceived ease of use and perceived usefulness affected the aforementioned intention. The study also found that perceived ease of use had both a direct and an indirect effect through perceived usefulness.

Keywords

perceived ease of use; perceived usefulness; social media; voluntary disclosures

Full Text:

PDF

References

Ajzen, I. (1991). The Theory of Planned Behavior. Organizational Behavior and Human Decision Processes, 50(2), 179–211. https://doi.org/10.1016/0749-5978(91)90020-T

Bagozzi, R. P. (1981). Causal Modeling: A General Method for Developing and Testing Theories in Consumer Research. Advances in Consumer Research, 8(1), 195–202.

Ben-Amar, W., & McIlkenny, P. (2015). Board Effectiveness and the Voluntary Disclosure of Climate Change Information. Business Strategy and the Environment, 24(8), 704–719. https://doi.org/10.1002/bse.1840

Botosan, C. A. (1997). Disclosure Level and the Cost of Equity Capital. The Accounting Review, 72(3), 323–349.

Bushman, R. M., & Smith, A. J. (2003). Transparency, Financial Accounting Information, and Corporate Governance. Economic Policy Review, 9(1), 65–87.

Davis, F. D. (1989). Perceived Usefulness, Perceived Ease of Use, and User Acceptance of Information Technology. MIS Quarterly, 13(3), 319–340.

Davis, F. D., Bagozzi, R. P., & Warshaw, P. R. (1989). User Acceptance of Computer Technology: A Comparison of Two Theoretical Models. Management Science, 35(8), 982–1003.

Depoers, F., Jeanjean, T., & Jérôme, T. (2016). Voluntary Disclosure of Greenhouse Gas Emissions: Contrasting the Carbon Disclosure Project and Corporate Reports. Journal of Business Ethics, 134(3), 445–461. https://doi.org/10.1007/s10551-014-2432-0

Fathema, N., & Sutton, K. L. (2013). Factors Influencing Faculty Members’ Learning Management Systems Adoption Behavior: An Analysis Using the Technology Acceptance Model. IJTEMT, 2(6), 20–28.

Fishbein, M., & Ajzen, I. (1975). Belief, Attitude, Intention, and Behavior: An Introduction to Theory and Research. Reading: Addison-Wesley.

Hill, C. A. (2017). A Personality Theory of White Collar Criminals, Near-Criminals, and Others Involved in Bad Corporate Actions (And What Law Should Do About It). Law and Financial Markets Review, 11(2-3), 75–82. https://doi.org/10.1080/17521440.2017.1353209

Ioannou, I., & Serafeim, G. (2017). The Consequences of Mandatory Corporate Sustainability Reporting. Harvard Business School Research Working Paper.

Meek, G. K., Roberts, C. B., & Gray, S. J. (1995). Factors Influencing Voluntary Annual Report Disclosures By U.S., U.K. and Continental European Multinational Corporations. Journal of International Business Studies, 26(3), 555–572. https://doi.org/10.1057/palgrave.jibs.8490186

Mikołajewicz-Woźniak, A., & Scheibe, A. (2017). Social Media in Company’s Communication with Investors. Handel Wewnętrzny, 367(2), 270–279.

Prokofieva, M. (2015). Twitter-Based Dissemination of Corporate Disclosure and the Intervening Effects of Firms’ Visibility: Evidence from Australian-Listed Companies. Journal of Information Systems, 29(2), 107–136. https://doi.org/10.2308/isys-50994

SEC. (2013). SEC Says Social Media OK for Company Announcements if Investors Are Alerted. Retrieved December 10, 2018, from The Securities and Exchange Commission website: https://www.sec.gov/news/press-release/2013-2013-51htm

Sugianto, D. (2018). Pasar Modal Didominasi Investor Muda Usia 20-an. Retrieved March 10, 2019, from detikFinance website: https://finance.detik.com/bursa-dan-valas/d-3832097/pasar-modal-didominasi-investor-muda-usia-20-an

Trinkle, B. S., Crossler, R. E., & Bélanger, F. (2015). Voluntary Disclosures via Social Media and the Role of Comments. Journal of Information Systems, 29(3), 101–121. https://doi.org/10.2308/isys-51133

Venkatesh, V. (2000). Determinants of Perceived Ease of Use: Integrating Control, Intrinsic Motivation, and Emotion into the Technology Acceptance Model. Information Systems Research, 11(4), 342–365.

Venkatesh, V., & Davis, F. D. (2000). A Theoretical Extension of the Technology Acceptance Model: Four Longitudinal Field Studies. Management Science, 46(2), 186–204. https://doi.org/10.1287/mnsc.46.2.186.11926

Wibisono, G., & Putri, D. D. A. (2018). Analyzing Factors Affecting the Use of Voluntary Disclosure Information using a Modified Theory of Reasoned Action: A Study in Indonesia. The Indonesian Journal of Accounting Research, 21(2), 171–194. https://doi.org/10.33312/ijar.342

Zhang, J. (2015). Voluntary Information Disclosure on Social Media. Decision Support Systems, 73, 28–36. https://doi.org/10.1016/j.dss.2015.02.018

Zhou, M. (Jamie), Lei, L. (Gillian), Wang, J., Fan, W. (Patrick), & Wang, A. G. (2015). Social Media Adoption and Corporate Disclosure. Journal of Information Systems, 29(2), 23–50. https://doi.org/10.2308/isys-50961

Dimension

Altmetric

PlumX


DOI: https://doi.org/10.28992/ijsam.v3i2.90

Refbacks

  • There are currently no refbacks.


Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.