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Understanding Adoption and Continual Usage Behaviour Towards Internet Banking Services in Hong Kong

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Understanding Adoption and Continual Usage Behaviour Towards Internet Banking Services in Hong Kong Lingnan University Digital Commons @ Lingnan University Department of Computing and Decision Theses & Dissertations Sciences 10-2001 Understanding adoption and continual usage behaviour towards internet banking services in Hong Kong Siu Cheung CHAN Follow this and additional works at: https://commons.ln.edu.hk/cds_etd Part of the E-Commerce Commons Recommended Citation Chan, S. C. (2001). Understanding adoption and continual usage behaviour towards internet banking services in Hong Kong (Master's thesis, Lingnan University, Hong Kong). Retrieved from http://dx.doi.org/ 10.14793/cds_etd.5 This Thesis is brought to you for free and open access by the Department of Computing and Decision Sciences at Digital Commons @ Lingnan University. It has been accepted for inclusion in Theses & Dissertations by an authorized administrator of Digital Commons @ Lingnan University. Terms of Use The copyright of this thesis is owned by its author. Any reproduction, adaptation, distribution or dissemination of this thesis without express authorization is strictly prohibited. All rights reserved. UNDERSTANDING ADOPTION AND CONTINUAL USAGE BEHAVIOUR TOWARDS INTERNET BANKING SERVICES IN HONG KONG by CHAN Siu Cheung A thesis submitted in partial fulfillment of the requirements for the Degree of Master of Philosophy Lingnan University October 2001 ABSTRACT Understanding Adoption and Continual Usage Behaviour towards Internet Banking Services in Hong Kong by CHAN Siu Cheung Master of Philosophy Banks and financial institutions in Hong Kong are increasingly finding themselves facing rapid increases in turbulence and complexity, leading to greater uncertainty and increased competition. Customers are also becoming more demanding. Apart from the traditional type of banking services, customers today require more personalized products and services, and access to such services at any time, and at any place. Although there is no panacea for banks to stay competitive, Internet Banking is one of the advanced information technologies they can employ to achieve a high level of customer services. Internet Banking is an emerging technology that permits conduct of banking transactions through the Internet. From the banks’ point of view, it requires the lowest transaction cost among various channels, just one percent of branch-based banking. It also can improve the efficiency and effectiveness of corporate business processes through elimination of paper work. One of the many benefits of Internet Banking is that customers can use bank services 24 hours a day from anywhere in the world. This study investigates university students' adoption/continual usage behaviour within the context of Hong Kong Internet Banking services. A research framework based on the extension of Technology Acceptance Model and Social Cognitive Theory was developed to identify factors that would influence the adoption/continual usage of Internet Banking. The framework includes subjective norm, image, result demonstrability, perceived risk, computer self-efficacy, perceived usefulness, perceived ease of use and intention constructs. A diverse sample of undergraduate and postgraduate students of seven universities in Hong Kong was used to test the models. Structural Equation Modeling was used to examine the entire pattern of intercorrelations among the eight proposed constructs and to test related propositions empirically. The results reveal that both subjective norm and computer self-efficacy play significant roles in influencing the intention to adopt Internet Banking indirectly. Perceived usefulness has significant positive effect on intention to adopt, this result supports the extension of the Technology Acceptance Model. Perceived ease of use has significant indirect effect on intention to adopt/continual usage through perceived usefulness, while its direct effect on intention to adopt is not significant in this empirical study. Theoretical contributions and practical implications of the findings are discussed and suggestions for future research are presented. I declare that this thesis « Understanding Adoption and Continual Usage Behaviour towards Internet Banking Services in Hong Kong » is the product of my own research and has not been published in any other publications. CHAN Siu Cheung October 2001 TABLE OF CONTENTS TITLE PAGE ABSTRACT DECLARATION OF ORIGINALITY APPROVAL SHEET TABLE OF CONTENTS ...........................................................................................i LIST OF TABLES. ....................................................................................................iv LIST OF FIGURES ...................................................................................................v LIST OF SYMBOLS .................................................................................................vi LIST OF ABBREVIATIONS....................................................................................vii ACKNOWLEDGEMENTS ......................................................................................viii CHAPTER 1 INTRODUCTION 1.1 Background.........................................................................................................1 1.2 Objectives and Importance of the Research .....................................................4 1.2.1 Research Objectives................................................................................5 1.2.2 Significance of the Study........................................................................6 1.3 Organization of the Thesis..................................................................................8 CHAPTER 2 INTERNET BANKING IN HONG KONG 2.1 Conception of Internet Banking.........................................................................10 2.2 The Cost-Effectiveness of Internet Banking .....................................................11 2.3 Technological Evolution of Hong Kong Retail Banking Services....................12 2.3.1 Automatic Teller Machine.......................................................................12 2.3.2 Telephone Banking..................................................................................12 2.3.3 Home Banking.........................................................................................13 2.3.4 Internet Banking......................................................................................14 2.4 Direct Observations of Internet Banking Services in Hong Kong...................15 2.4.1 View-Only Functions ..............................................................................19 2.4.2 Account Control Functions ....................................................................19 2.4.3 New Services Applications .....................................................................20 2.4.4 Investment Functions..............................................................................20 2.4.5 Other Services..........................................................................................21 2.4.6 Conclusion...............................................................................................22 2.5 Chapter Summary...............................................................................................23 CHAPTER 3 LITERATURE REVIEW 3.1 Social Psychology...............................................................................................24 3.1.1 Theory of Reasoned Action (TRA)........................................................25 3.1.2 Theory of Planned Behaviour (TPB)......................................................27 i 3.2 Information Technology Acceptance ................................................................31 3.2.1 Technology Acceptance Model (TAM)..................................................31 3.2.2 Differences between TAM and TPB.......................................................32 3.2.2.1 Degree of Generality................................................................33 3.2.2.2 Social Influences......................................................................34 3.2.2.3 Behavioural Control.................................................................35 3.2.3 Extension of Technology Acceptance Model (TAM2)..........................36 3.3 Risk Perception...................................................................................................38 3.4 Social Cognitive Theory - Self-Efficacy ............................................................40 3.5 Chapter Summary...............................................................................................44 CHAPTER 4 METHODOLOGY 4.1 The Research Framework...................................................................................45 4.2 Development of Hypotheses..............................................................................47 4.3 Questionnaire Design .........................................................................................54 4.3.1 Salient Belief Elicitation ..........................................................................54 4.3.2 Measurements of the Constructs............................................................55 4.4 Pilot Tests ....... ....................................................................................................56 4.4.1 Online Questionnaire...............................................................................57 4.5 Sampling and Data Collection Procedure .........................................................58 4.6 Statistical Analysis..............................................................................................61
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