Impact of Expert Recommendations on Stock Market Investment

Abstract

The stock market analysis landscape continues evolving as technology and data are becoming more accessible. Expert advice can help make financial investment decisions as it offers information ordinary investors may not easily obtain. The paper highlights the significance of expert recommendations in guiding investment decisions. We carefully study the connections between these factors to decipher the complex network of factors influencing investor decisions. The analysis of this research through multiple regressions reveals that investment intention is influenced by investing attitude, self-efficacy, and recommendations from registered analysts. Social norms and influencers, however, have comparatively small effects. While recommendations from finfluencers have little effect, those from registered analysts greatly increase investing intention.