Decoding E-WOM’s role in financial purchase: insights on information, facilitation and argument quality

Purpose Electronic word-of-mouth (E-WOM) is often characterized as a double-edged phenomenon, given its potential to influence financial decision-making through both positive endorsements and negative criticism. Especially in the services industry context, the financial purchase intentions are based on the information transmitted through online sources. Meanwhile, the issue of financial information adoption still prevails, as a sizeable population is yet unable to comprehend financially transmitted information. Therefore, the study emphasizes that E-WOM can improve financial purchase intentions with the help of information usefulness, argument quality and facilitating conditions. Design/methodology/approach For the fulfilment of the study’s objectives, structured survey questionnaire was used and the data were collected from 246 respondents. Covariance-based structural equation modelling (CB-SEM) was deployed for the determination of causality among constructs. Findings The findings affirmed theoretically knitted foundations. Originality/value The study offers clear insights for financial institutions, brokers and advisers on how to encourage customers to gain knowledge about financial products, ultimately leading to their purchase.

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