An Empirical Study Of Influencing Factors On Internet Financial Products Purchase Intention

Limited to the high operating costs and the 80/20 rule, traditional financial institutions service high net worth client mainly. Nearly all institutions choice to abandon ordinary people whose per capital asset size is small and money is distributed. The majority of family financial management can only dominate with the current deposits whose interests are quite low, which has been formed financial plight of long-tail crowd for a long time in our country. As the residents’wealth increasing, the demand of maintaining and increasing the value of assets calls for the innovation of financial products urgently. The Internet Finance is an emerging field of traditional finance integration of new internet technologies. The Internet Finance becomes a huge potential of emerging industries, achieving rapid development, driven by information technology of search engine, big data and cloud computing, mobile internet in our country recently. Now so many internet financial products like Balance, P2P, crowdfunding and so on come into people’s horizons gradually. As the internet financial market is full of dynamic and diversification, the key of how to win the attention of investors is to design products with vitality according to the demand of investors.The current researches on Internet Finance mainly focused on the characteristics, risks, regulation and the advantages and disadvantages of the traditional financial comparison, lack of researches on internet financial products from the perspective of investors. Based on the nature of the internet financial products are financial products, relying on internet technology. So this paper attempts to from the behavioral finance and technology acceptance model to explore the influencing factors of investors to buy the internet financial product, expects to bring innovative significance to the development of theories and reality of China’s internet financial products.This article started with reviewing the Internet Finance, behavioral finance and technology acceptance model literature review and theoretical research. On the basis of the theory, the purchase intention was used as the dependent variable, expected benefits, perceived risk, personal preference, herd mentality, perceived usefulness and perceived ease of use as independent variable, and constructed the theoretical model of this study, and put forward the research hypothesis. After reference to the domestic and foreign literature on the basis of the scale and combined with the characteristics of internet financial products, designed the survey questionnaire through the questionnaire star platform.256 valid questionnaires were collected, this paper used SPSS for data processing, including descriptive statistical analysis, reliability and validity testing, correlation analysis and regression analysis, finally tested the proposed hypotheses. The study result showed that there were several factors influencing internet financial products to investors purchase intention, including expected benefits, perceived risk, herd mentality, perception usefulness and perception ease of use. The effect of herd mentality on purchase intention was the biggest. Expected profit, herd mentality, perception usefulness, perception ease of use on purchase intention had a significant positive effect; perceived risk of internet financial products on purchase intention had a negative effect. Personal preference had no direct or significant impact on purchase intention.According to the results of empirical analysis, this study made a reasonable explanation of the behavioral finance and technology acceptance model. On this basis, combined with the characteristics of internet financial products, put forward suggestions on increasing purchase intention of internet financial products from investors’point of view. Above all, innovate internet financial products, enhance the liquidity of the product, to create the internet financial products life project payment of accounts, enhance investors’expected benefits and perceived usefulness. Secondly, starting from the national level and the internet financial platform, improve and strengthen the security of the Internet Finance, reduce the perceived risk of investors, to create a good environment for Internet Finance. Thirdly, the internet financial platform to streamline the product process, optimizes the interface design, improve investor perception ease of use. Last but not least, the internet financial platforms market product, at the same time, increase the risk warning, guide and help investors to establish a correct concept of financial management and investment philosophy.