Investors ’ Adoption of Internet Stock Trading : A Study

Professor, Business Management Department, carries with him a long professional experience spanning over 35 years. He earned his Ph.D. from Guru Nanak Dev University, Amritsar (Punjab), India. He has published over 55 research papers to his credit in refereed journals of national and international repute. Dr. Sandhu has also published one book on consumer Demand in India. His research papers are also accepted in international conferences in United States and Canada. Abstract The purpose of this paper was to examine whether investors who adopted Internet stock trading perceived differently from those of non-adopters. The primary data based on 299 investors (149 adopters and 150 non-adopters) were analyzed using advanced multivariate techniques like factor analysis and discriminant analysis besides percentages, means, and Z-test. Results indicated that attitude dimensions and demographic variables contributed significantly in classifying investors as adopters or non-adopters in Internet trading. As regards attitude dimensions, 'variety of financial products and safety' contributed significantly in discriminating between adopters and non-adopters of Internet trading followed by the factor such as 'convenience and transparency'. As far as the demographics were concerned, the mature/older, experienced, and businessmen investors were less likely to use Internet stock trading as compared to young, inexperienced, and non-businessmen investors.