An anisotropic conductive adhesive includes an epoxy adhesive containing an epoxy compound and a curing agent and conducive particles dispersed in the epoxy adhesive. When elastic moduluses at 35° C., 55° C., 95° C., and 150° C. of a cured product of the anisotropic conductive adhesive are denoted by EM35, EM55, EM95, and EM150, respectively, and change rates in the elastic modulus between 55° C. and 95° C. and between 95° C. and 150° C. are denoted by ΔEM55-95 and ΔEM95-150, respectively, the following expressions (1) to (5) are satisfied 700 Mpa≦EM35≦3000 MPa  (1) EM150