How can robo-advisors retain end-users? Identifying the formation of an integrated post-adoption model

Abstract

PurposeThis study's purpose is to propose an integrated post-adoption model based on expectation-confirmation model (ECM) and cognitive absorption (CA) theory to examine whether network factors, gamification factor, and quality factors as antecedents to end-users' beliefs can affect their continuance intention of the robo-advisor.Design/methodology/approachA total of 600 questionnaires were distributed in three sample banks in Taiwan, and sample data for this study were collected from these three banks' customers who had experience in using these banks' own robo-advisor to make their investment decisions. Consequently, 381 useable questionnaires were analyzed using structural equation modeling in this study, with a useable response rate of 63.5%.FindingsThis study proposes a solid research model that based on ECM and CA theory, three types of factors, network factors, gamification factor, and quality factors, as antecedents to end-users’ continuance intention of the robo-advisor have been examined, and this study's results strongly support the research model with all hypothesized links being significant.Originality/valueThis study contributes to end-users' continuance intention of the robo-advisor based on ECM, CA theory, theory of network externalities, gamification, and updated DeLone and McLean IS success model, and reveals deep insights into the evaluation of determinants in the field of end-users' continuance intention of the robo-advisor. Hence, it is especially worth mentioning that three types of determinants (i.e. network factors, gamification factor, and quality factors) are simultaneously evaluated, and extrinsic and intrinsic motivators are both taken into account in this study's research model development of end-users' continuance intention of the robo-advisor to acquire a more all-round and robust analysis.