The Impact Of Consumers’ Privacy Concerns On Adopt Intention Of Internet Wealth Management Products

Along with the advance of internet technology, internet industry rapidly extended to other industries, including the financial services industry which has been heavily permeated and influenced. "Internet financial" as a new model of the financial industry has been concerned. However, behind the vigorous development of the Internet financial, it was hidden a huge privacy risk. In the field of internet financial, the issues inculding theft of funds, fraudulent transactions, personal information stolen, privacy leak frequently arise. During the two conferences in 2016, internet financial regulation and privacy safety issues have been proposed, emphasis on personal data privacy protection is the key issue. To expore the impact of consumers’ privacy concerns on adopt intention of internet wealth management products in this context. It has becomed a focus of the academic field and business enterprises that which measures should be taken by internet financial enterprises to improve consumer adopt intention.Based on the existing literature and the valence framework, this paper constructs structural equation model about the impact of consumers’ privacy concerns on adopt intention of internet wealth management products. Involving consumers(n=413), the research is mainly focused on the direct impact of consumers’ privacy concerns on adopt intention, the indirect impact of consumers’ privacy concerns on adopt intention through perceived risk and perceived benefits, and the perceived risk and perceived benefits in mediating role between privacy concerns and adopt intention.These are the following conclusions according to the empirical results. Consumers’ privacy concerns have a negative impact on adopt intention, and have a positive influence on perceived risk, and have a negative impact on perceived benefits. The perceived risk have no effect on adopt intention. Besides perceived risk plays an insignificant intermediary role in the impact of consumers’ privacy concerns on adopt intention. Perceived benefits have a positive impact on adopt intention. What’s more, perceived benefits play a partial intermediary role in the impact of consumers’ privacy concerns on intention. In the end, based on the above findings, the study put forward some suggestions. Formulate privacy policy to reduce consumers’ privacy concerns. Design various financial products to improve the perceived benefits. Disclose corporate information timely to control perceived risk. Establish an effective monitoring mechanism to safeguard the interests of consumers.