Does transparency matter? The moderating effect of algorithm transparency on social influence in investment decisions.

It should be noted that this heterogeneity analysis is an exploratory test and has the following limitations: (1) Decision-making motivation is a characteristic of the participants rather than an experimental manipulation, so causal inference cannot be established; (2) The difference in moderating effects between the two groups did not reach statistical significance (Δ β = −0.54, p = 0.089).

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