Perceived usefulness of social media in financial decision-making: Differences and similarities

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F20%3A63526533" target="_blank" >RIV/70883521:28120/20:63526533 - isvavai.cz</a>

Result on the web

<a href="https://businessperspectives.org/journals/innovative-marketing/issue-367/perceived-usefulness-of-social-media-in-financial-decision-making-differences-and-similarities" target="_blank" >https://businessperspectives.org/journals/innovative-marketing/issue-367/perceived-usefulness-of-social-media-in-financial-decision-making-differences-and-similarities</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.21511/im.16(4).2020.13" target="_blank" >10.21511/im.16(4).2020.13</a>

Result language

angličtina

Original language name

Perceived usefulness of social media in financial decision-making: Differences and similarities

Original language description

Financial decision-making through social media blogs and opinions is an area not much explored by the researchers. This study intends to understand the perceived usefulness of social media in financial decision-making amongst individuals and groups based on demographic similarities and social parameters. This paper aims to understand the perception of various subgroups in society within the large population sample. The paper applies Mann-Whitney and Kruskal-Wallis non-parametric tests to examine the proposed research questions from a dataset of 201 individuals residing in two most populated states in Northern India. The analysis reveals the differences between different groups categorized based on generation, financially dependent, educational background, occupation, and geographical location. In terms of social media&apos;s perceived utility in financial decision-making, results suggest that segregated groups based on cohort generation and occupation have significant variations relative to others. Based on the educational context, all other segments, number of financially dependent, geographical location, were found insignificant. The novelty of the paper lies in investigating the perceived usefulness of social media in financial decision-making amongst various homogenous groups based on demographics in a developing country. The study outcomes can be useful for the financial service providers and social media platforms in comprehending consumer behavior to devise an innovative marketing strategy for financial products targeting specific segments through enhanced coordination between them. © This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International license, which permits unrestricted re-use, distribution, and reproduction in any medium, provided the original work is properly cited.

Czech name

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Czech description

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Type

J_SC - Article in a specialist periodical, which is included in the SCOPUS database

CEP classification

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OECD FORD branch

50201 - Economic Theory

Project

—

Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2020

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Innovative Marketing

ISSN

1814-2427

e-ISSN

—

Volume of the periodical

16

Issue of the periodical within the volume

4

Country of publishing house

UA - UKRAINE

Number of pages

10

Pages from-to

145-154

UT code for WoS article

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EID of the result in the Scopus database

2-s2.0-85099186728