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Financial technology (Fintech) brings about innovative financial services, such as the possibility of introducing mobile wealth management applications (apps) into consumers' lives. Despite the rapid development of such apps, few studies have focused on users' switching intentions from traditional wealth management services to mobile settings (apps).

Through a survey research method, a total of 378 responses were collected to examine the model. The partial least squares (PLS) technique was employed for data analysis.

To fill this research gap, this paper adopts a push-pull-mooring (PPM) theoretical framework to develop a model for exploring users' switching intentions. According to the empirical results, several push (i.e. perceived inconvenience), pull (i.e. transaction efficiency, perceived personalization and mobile wealth management scenarios) or mooring (i.e. product market expertise and affective commitment) factors are identified that significantly affect switching intention. This study provides theoretical contributions and practical implications for the existing wealth management literature and also offers future research directions.

This study innovatively extends the PPM framework to the traditional and mobile wealth management domains to understand users' switching intentions from offline wealth management services to mobile wealth management apps. The authors uncover several push, pull and mooring factors that are critical for determining users’ switching decisions.

Entrepreneurship.

This case is suitable for MBA, EMBA and advanced undergraduate students.

Noah Wealth Management was founded by Ms Wang Jingbo, a lady in her mid 30s with a team of less than 20 members in 2005. Exploiting market opportunities offered by a lack of good wealth management products and services, Noah grew rapidly from one branch office in 2005 to 59 branch offices in 2011, reaching a staff size of 1,031. Noah listed its shares on the New York Stock Exchange in November 2010. In 2011, Noah was ranked No. 38 among the 100 Top Potential Enterprises in China. Nonetheless, Noah faced several problems of internal management during the course of its fast expansion. In the first quarter financial report of 2012, Noah suffered a 52.6 percent decrease in net income over the corresponding period in 2011. Faced with a rapidly declining share price, Noah announced on May 22, 2012 a US $30 million share repurchase program.

The case supports a basic lesson on the entrepreneurial cycle, including assessing a business opportunity, resource mobilization, identifying a business model, growth of the venture, listing on the stock market, and subsequent growth challenges. Students can learn about some of the typical dilemmas faced by founders of entrepreneurial ventures, including how to maintain the corporate culture while growing fast and how to prevent members of the founding team from becoming bottlenecks to the development of the organization. The case can also provide management students with an overview of China's wealth management industry.

Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.

In a time of global recession and customers' pejorative perceptions of financial products, international banks need to understand the determinants of behavioral intentions of high‐net‐worth individuals when considering business tactics for capturing the lucrative wealth management services (WMS) markets. This paper aims to build a predictive model using the theory of planned behavior to determine behavioral intentions of Taiwanese nationals based in the People's Republic of China (the PRC) in respect of their choice and decisions about WMS providers.

Two‐phased sequential mix methods, based on the theory of planned behavior, are employed to investigate factors that influence the choice of wealth management services providers by Taiwanese based in the PRC. An elicitation study plus three pilot tests were administered for questionnaire development, refinement and finalization. The main study employs a cross‐sectional study of Taiwan home nationals resident in China.

A cross sectional study of 227 Taiwanese nationals based in the PRC indicated that “Feeling of trustworthiness”, “Provision of flexible services”, and “Feeling of cultural affinity” are the most crucial among the ten factors related to their intentions and decision making about choice of WMS providers.

The results point to managerial implications of banks' identity, deployment of expatriates, brand‐image position and a regional portfolio platform for bank management to consider entry strategies into the PRC.

This research is the first empirical study in investigating the attitudinal dynamics on wealth management services and their implications to international banks in the PRC.

Wealth Management Products (WMPs) are the largest and most crucial component of China's Shadow banking, which are off the balance sheet and considered as a substitute for deposits. Commercial banks in China are involved in the issuance of WMPs mainly to; evade the regulatory restrictions, move non-performing loans away from the balance sheet, chase the profits and take advantage of yield spread (the difference between WMPs yield and deposit rate).

In this study, the authors investigate what bank related characteristics and needs; influenced and prompted the issuance of WMPs. By using a quarterly panel data from 2010 to 2019, this study performed the fixed effects approach favored by the Hausman specification test, and a feasible generalized least square (FGLS) estimation method is employed to deal with any issues of heteroscedasticity and auto-correlation.

This study found that there is a positive and significant association between the non-performing loan ratio and the issuance of WMPs. Moreover, profitability and spread were found to play an essential role in the issuance of WMPs. The findings of this study suggest that WMPs are issued for multi-purpose, and off the balance sheet status of these products makes them very lucrative for regulated Chinese commercial banks.

Non-guaranteed WMPs are considered as an item of shadow banking in China, as banks do not consolidate this type of WMPs into their balance sheet; due to that reason, there is no individual bank data available for the amount of WMPs. The authors use the number of WMPs issued by banks as a proxy for the bank's exposure to the WMPs business.

From a regulatory perspective, this study helps regulators to understand the risk associated with the issuance of WMPs; by providing empirical evidence that Chinese banks issue WMPs to hide the actual risk of non-performing loans, and this practice could mislead the regulators to evaluate the bank credit risk and loan quality. This study also identifies that Chinese banks issue WMPs for multi-purpose; this can help potential investors to understand the dynamics of WMPs issuance.

This research is innovative in its orientation because it is designed to investigate the less explored wealth management products (WMPs) issued by Chinese banks. This study's content includes not only innovation but also contributes to the existing literature on the shadow banking sector in terms of regulatory arbitrage. Moreover, the inclusion of FGLS estimation models, ten years of quarterly data, and the top 30 Chinese banks (covers 70% of the total Chinese commercial banking system's assets) make this research more comprehensive and significant.

The purpose of this study is to clarify theory and identify factors that could explain the level of fintech continuance intentions with an expectation confirmation model that integrates self-efficacy theory.

With data collected from 753 fintech users, this study applies partial least square structural equation modeling to compare and select the research model with the most predictive power.

The results show that financial self-efficacy, technological self-efficacy and confirmation positively affect perceived usefulness. Among these factors, financial self-efficacy and technological self-efficacy have both direct and indirect effects through confirmation on perceived usefulness. Perceived usefulness and confirmation are positively related to satisfaction. Finally, perceived usefulness and satisfaction positively influence fintech continuance intentions.

To the best of our knowledge, this is one of the earliest studies that investigates the effect of domain-specific self-efficacy on fintech continuance intentions, which enriches the existing research on fintech and deepens our understanding of users' fintech continuance intentions. We distinguish between financial self-efficacy and technological self-efficacy and specify the relationship between self-efficacy and continuance intentions. Moreover, this study highlights the importance of assessing a model's predictive power using the PLSpredict technique and provides a reference for model selection.

The purpose of this paper is to study the many manifestations of trust in the wealth management context in Finland. This empirical paper examines and contrasts how trust is perceived by financial experts and consumers in wealth management in general, and in the investment context, in particular.

Qualitative methods, focus group discussions and interviews were employed.

Financial experts and consumers emphasised different facets of trust. The level of trust towards financial service providers and financial advisors, and the level of involvement in investing served to differentiate the consumers into four distinct groups. These are presented and discussed.

Although the methods utilised were purely qualitative and the study was limited to Finland, the results offer interesting and new scientific knowledge about perceived trust, and how it can be used in market segmentation and developing customer service.

The four quadrant matrix can assist financial companies in building customer relationships and in improving customer service.

Qualitative research provides insights into consumers' thoughts that are difficult to obtain with quantitative data gathering and analysis. In this study, consumers expressed their opinions and thoughts in their own words. Furthermore, the dyadic comparison of opinions of consumers with experts' views about consumers' motives and behaviour contributed to a deeper understanding of the relationship between consumers and financial service providers.

Shadow banking has been evolving rapidly in China, with banks actively using wealth management products (WMPs) to evade regulatory restrictions. These products are the largest constituent of China's shadow banking sector. A large number of these products are off-balance-sheet and considered a substitute for bank deposits. China's banking sector, especially the small and medium-sized banks (SMBs), uses these products to avoid regulatory restrictions and sustainability risk in the deposit market.

This study empirically examined how banks in China, specifically SMBs, utilize these products on a short and long-run basis to manage and control their deposit levels. This study utilized a quarterly panel dataset from 2010 to 2019 for the top 30 Chinese banks, by first implementing a Panel ARDL-PMG model. For cross-sectional dependence, this study further executed a cross-sectional augmented autoregressive distributive lag model (CS-ARDL).

Under regulations avoidance theory, the findings revealed that WMPs and deposits have a stable long-run substitute relationship. Furthermore, the WMP–Deposit substitute relationship was only significant and consistent for SMBs, but not for large four banks. The findings further revealed that the WMP–Deposit substitute relationship existed, even after the removal of the deposit rate limit imposed by the People's Bank of China (PBOC) to control the deposit rates.

The individual bank-issued WMPs' amount data is not available in any database. Therefore, this study utilized the number of WMPs as a proxy for China's banking sector's exposure to the wealth management business.

This research helps policymakers to understand the Deposit–WMP relationship from the off-balance-sheet perspective. During the various stages of interest rate liberalization, banks were given more control to establish their deposit and loan interest rates. However, the deposit rates are still way below the WMP returns, making WMPs more competitive. This research suggests that policymakers should formulate a more balanced strategy regarding deposit rates and WMPs returns.

This study contributes to the existing literature on China's shadow banking by concentrating on the WMPs. This research represents one of the few studies that analyze regulatory arbitrage in terms of the WMP–Deposit relationship. Moreover, the implementation of CS-ARDL panel data models and multiple data sources makes this study's findings more reliable and significant.

In China, supply chain finance (SCF) has gradually emerged as a new service for the retail industry. This case systematically discusses how JD conducts product design and risk control of supply chain finance and related financial services, and analyze the impact of supply chain finance on JD's retail operations. The case also analyzes the relationship between JD supply chain finance and traditional financial institutions, and explore the future development of retail supply chain finance.

The purpose of this paper is to ensure the sustainability of the competitive advantages of internet financial enterprises. In recent years, driven by the two wheels of financial market and information technology, the internet finance has experienced an extremely rapid development.

Based on the performance expectation, effort expectation, social influence and purchase intention of UTAUT model, an empirical examination was conducted. Specifically, the authors made the user purchasing behavior as the dependent variable and added some new factors such as perceived risk, individual innovation and product cognition as the independent variables in the model, and they also added user gender and experience as regulated variables, so as to study the impact factors that affect the purchasing behavior. In addition, the authors also studied the impact of social network friend recommendations on consumers’ willingness to purchase.

The research results showed that effort expectation, performance expectancy, effort expectancy, purchase intention, awareness and individual innovation have a positive effect on the behavior of buying financial products, whereas the perceived risk has a negative effect on the behavior of buying internet financial products. Additionally, in the context of social networking, social network friend recommendations have a positive impact on consumers’ willingness to purchase.

This paper is based on the integrated technology acceptance model, which makes the user purchasing behavior as the dependent variable and adds some new factors such as perceived risk, individual innovation and product cognition as the independent variables. However, the research on recommendation between social network friends is not deep enough, so further improvement is needed.

This study can enrich the existing theories on the interpretation of the intention of using internet financial products, help internet financial enterprises understand user behavior and demands better, and improve service quality and customer satisfaction.

This study provides an empirical examination of UTAUT model and social network analysis.