This study investigates the implementation of AKSes Application at the Indonesian Central Securities Depository (KSEI), adopting the Information System Success Model developed by DeLone and McLean, (2003). This model employs system quality (SYSQUAL), information quality (IQ), services quality (SERVQ), system use (SU), and user satisfaction (US) so as to evaluate the effectiveness and successful model of AKSes application. In particular, we empirically tested the relationship among the employed dimensions, in which we investigated the variance in SU and US as the dependent variables. Using a quantitative study with survey design, we used primary data that was collected by circulating questionnaires to 483 active investors in the Indonesian Stock Exchange. The obtained data was further proceeded through a validity and reliability test. This study also tested the relationship between the dependent and independent variables using structural analysis. The results showed that SYSQUAL, IQ, and SERVQ exhibit positive relationships with US, but only SERVQ indicates a positive relationship with SU. Moreover, SYSQUAL and IQ showed no relation to SU. The obtained results provide several important implications for information system research and practice, in which KSEI as the application provider, should adequately pay attention to the effectiveness of the application system from the perspectives and needs of system users.
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