토큰증권발행(STO)에 대한 소비자의 인식과 투자결정 요인 분석: 가치기반수용모델 접근방식을 통한 심층분석
Analysis of Consumer Perception and Investment Decision Factors in STO (Security Token Offering): A Deep Analysis Through a Value-Based Adoption Model Approach
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초록
본 연구는 토큰증권발행(STO)에 대한 소비자 인식과 투자 결정 요인에 대해 심도 있는 분석을 제공한다. 연구는 소비자가 지각하는 혜택과 희생 요인이 투자 의도에 미치는 영향을 중점적으로 다루며, 특히 사회적 가치가 투자 의도에 미치는 긍정적인 영향을 강조한다. 연구 결과에 따르면, 금전적 가치와 즐거움은 투자 의도에 유의미한 영향을 미치지 않는 반면, 사회적 가치는 중요한 영향력을 지닌다. 이러한 발견은 STO 시장의 이해관계자들, 특히 마케터와 정책 입안자들에게 중요한 시사점을 제공한다. 연구는 또한 지각된 위험, 재무위험, 수수료와 같은 희생 요인들이 투자 의도에 큰 영향을 미치지 않는다는 점을 밝힌다. 이는 STO 투자자들이 전통적인 위험 요소보다 다른 요인들을 중시할 수 있음을 시사한다. 연구의 한계점으로는 샘플 크기와 범위의 제한성, 정량적 방법론의 의존, 특정 시점에 대한 분석의 한계 등이 있으며, 이는 향후 연구에서 고려해야 할 중요한 사항이다.
Abstract
This study provides an in-depth analysis of consumer perceptions and investment decision factors concerning Security Token Offerings (STO). It focuses primarily on how perceived benefits and sacrifices impact investment intentions, with a particular emphasis on the positive influence of social value on investment decisions. The findings indicate that while monetary value and pleasure do not significantly affect investment intentions, social value holds considerable influence. This discovery offers crucial insights for stakeholders in the STO market, especially marketers and policymakers. The study also reveals that perceived risks, financial risks, and fees, categorized as sacrifice factors, do not significantly impact investment intentions. This suggests that STO investors may prioritize factors other than traditional risk elements. Limitations of the study include a limited sample size and scope, reliance on quantitative methodology, and the analysis being confined to a specific timeframe. These limitations are vital considerations for future research in this field.
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