Do Psychological Ownership and Communicative Presence Matter? Examining How User-Generated Content in E-Commerce Live Streaming Influences Consumers' Purchase Intention.

E-commerce live streaming has become a lucrative global industry. As the main carrier to convey information in live broadcasting, user-generated content (UGC)-and especially bullet screens-are crucial in influencing users' purchase intentions. However, the influence of bullet screens' multidimensional information characteristics on consumers' decision-making processes requires further exploration. Additionally, most existing studies start with the short-term effects of live product realization, and must address how to enhance customers' psychological ownership using new means of live streaming marketing to obtain long-term sustainable brand-building effects. This study introduces psychological ownership and the communicative presence as mediating variables based on the theory of elaboration likelihood modeling to explore the mechanism of the influence of UGC's multidimensional features on viewers' purchase intentions in live e-commerce broadcasting rooms. We collected 404 valid online questionnaires and tested our hypotheses using structural equation modeling. These findings indicate that UGC emotions, quality, and their interaction significantly and positively affect purchase intentions. Moreover, psychological ownership and the communicative presence mediate UGC's effect on purchase intentions. These results provide a new perspective for understanding consumer behavior in live e-commerce to improve marketing effectiveness of e-commerce live streaming platforms.