مقاله سال ۲۰۱۶

 مجله مدیریت مالی چند ملیتی – Journal of Multinational Financial Management

The main objective of this research is to ascertain the antecedents of the intention of use of home broker systems from the standpoint of the final users, namely stock market investors. According to Davis, Bagozzi, and Warshaw (1989) and Legris, Ingham, and Collerette (2003), a system that presents superior technical performance is meaningless if, for any reason, the users do not accept the available technology. Thus, understanding the reasons underlying acceptance of information systems has become one of the most challenging research fields in the Information Systems (IS) arena (Davis et al., 1989; Kim & Kankanhalli, 2009; Venkatesh, Davis, & Morris, 2007).

On the other hand, the current routine of BOVESPA (São Paulo Stock Market, Brazil) has been marked by an intense use of Information Technology (IT) in its operations. In Brazil, the deployment of home broker systems in 1999 enabled small and medium investors to take part in this market. A home broker system allows investors to transmit their purchase and sale orders directly to BOVESPA’s trading system, via brokerage house websites. Based on this fact, the São Paulo Stock Market in Brazil has been operated exclusively via electronic auction since early 2006.

een operated exclusively via electronic auction since early 2006. Moreover, according to the Clearing Facility and Central Securities Depository (CBLC), the amount of brokerage houses in Brazil that have made home broker systems available has increased rapidly, from six in 1999 to more than 60 in the first semester of 2011. Besides, the top ten brokerage houses in Brazil traded, in total, in September 2011, more than US$ 10 billion (Gutman & Joia, 2012).