證券投資者下單管道選用因素之研究-探討資訊處理之推敲可能性模式對滿意-信任-承諾模型之影響

The Impact of Stock Ordering Channel Selection of Investors on Satisfaction-trust-commitment Model – An Elaboration Likelihood Model of Information Process Perspective

林惠瑩(Hui-Ying Lin)

指導教授 ： 邱光輝

國立臺北大學/商學院/企業管理學系/碩士(2013年)

摘要

台灣證券投資的下單管道主要分為人工下單及電子下單。隨著網際網路及行動商務的興起，網路下單帶給下單使用者眾多好處及便利，網路下單相關研究成為近年來研究的熱門議題之一。然而，從台灣法規開放網路下單至今，已有約15年時間。2012年1至8月平均電子下單筆數及金額分別佔市場成交比率卻僅有41%及35%，顯示傳統人工下單管道可能提供了電子下單管道未能滿足客戶價值之處。從網路下單的角度，證券投資人有手續費折扣、快速便利等誘因，但仍有超過一半的證券投資人選擇使用傳統人工下單管道。因此，證券投資人在選擇使用下單管道的背後必然藏著奧妙且值得探討的空間。
本研究從資訊處理與決策的角度出發，探討證券投資者經由資訊處理的過程，其不同線索對於滿意及信任的生成過程，最後影響持續承諾。其次，Petty and Cacioppo (1981) 提出推敲可能性模式 (elaboration likelihood model; ELM)，闡述了個體對於資訊的回應會受到資訊處理的動機及能力影響。動機和能力缺一時，個體會經由周邊線索處理所接收到的資訊；個體若同時具備資訊處理動機及能力，則會經由中央線索處理訊息。本研究基於證券交易市場的特性，將涉入程度視為動機、自我效能視為能力。最後，本研究認為不同的下單管道選用者其可能是經由不同線索處理資訊，且可能和資訊處理能力及動機有關，因此本研究將使用下單管道為 ELM 線索及信任滿意的調節效果，並檢測下單管道與 ELM 模式中的動機與能力的關係。
本研究首創提出以資訊處理的角度，研究範圍包含證券人工下單及網路下單，研究對象是以目前從事證券下單經紀業務往來經驗的投資者，採用便利抽樣，研究的有效樣本大小為 593 份。透過AMOS 線性結構關係模式進行模式評估，並探討各潛在變數的因果關係。本研究預期提供實務界不同的思維角度，經由提供不同的線索給使用者以達成差異化服務，與顧客保持良好的互動。亦可進一步做為市場區隔之參考準則，並獲取顧客的承諾，確認營運管理目標的達成。

關鍵字

推敲可能性模式 ； 滿意-信任-承諾模型 ； 涉入 ； 自我效能

並列摘要

In Taiwan, stock ordering channels are divided into artificial ordering way and electronic ordering way. With the rise of internet and m-commerce, investors get conveniences and many advantages through electronic ordering way. Nowadays electronic ordering becomes one of popular research issues. However, thought there have been 15 years from the government permitting online ordering until now, from the year of 2012 January to August, the average online ordering numbers of the total market turnover ratio is just 41%, and the average online ordering amounts of the total market turnover ratio is just 35%. It shows that the traditional artificial ordering way may offers channel users some value which the electronic ordering way can’t do.
This study starts from the view of information processing and decision-making, and we are going to explore different cues to build satisfaction and trust through users information processing, and further turn towards to commitment. Petty and Cacioppo (1981) who built ELM model elaborate that individual response to information is affected by one’s motivation and ability to process information. Base on the characteristics of the stock market, this research is the pioneer to use involvement as motivation and to use self-efficacy as ability in the stock ordering channels, combining them as the same time. This study proposes an originally integrated model based on ELM, satisfaction-trust-commitment model.
This study is one of pioneers to propose a modifiedsatisfaction-trust-commitment model based on ELM and information process perspectives. Especially, we employ self-efficacy and involvement constructs as the motivation and ability of information process. This study expects to extend theoretical knowledge of academic fields and attempt to fill the gap of literatures. This study also demonstrates a new way for enterprises to elaborate business plan, including offer appropriate cues to archive differential service, maintain good communication with investors, and make a principle for segmenting target customers.

並列關鍵字

Elaboration likelihood method (ELM), Satisfaction-trust-commitment model, Involvement, Self-efficacy

參考文獻

黃俊英 (1994)。行銷研究。台北：華泰書局。

Anderson, E. W., & Sullivan, M.W. (1993). The antecedents and consequences of customer satisfaction for firms. Marketing Science,12(2), 125-143.

Anderson, E. W., Fornell, C., & Lehmann, D. R. (1994). Customer satisfaction, market share, and profitability: Findings from Sweden. Journal of Marketing, 58(3), 53-66.

Angst, C. M., & Agarwal, R. (2009). Adoption of electronic health records in the presence of privacy concerns: The elaboration likelihood model and individual persuasion. MIS Quarterly, 33(2), 339-370.

Ann, P., Suresh, T., & Chris, G. (2012). The Role of E-Service Quality and Information Quality in Creating Perceived Value: Antecedents to Web Site Loyalty. Information Systems Management, 29(3), 201-215.