Luận văn thạc sĩ UEH factors affecting behavioral intentions toward mobile banking usage, a study of

UNIVERSITY OF ECONOMICS HO CHI MINH CITY

International School of Business

------------------------------

Nguyen Khac Duy

FACTORS AFFECTING

BEHAVIORAL INTENTIONS TOWARD

MOBILE BANKING USAGE:

A STUDY OF BANKING CUSTOMERS

IN HO CHI MINH CITY

ID: 60340102

MASTER OF BUSINESS (Honours)

SUPERVISOR: Dr. Nguyen Thi Nguyet Que

Ho Chi Minh City – Year 2012

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ACKNOWLEDGEMENT

At the first of my thesis, I would like to thank all those people who made

this thesis possible and an unforgettable experience for my studying.

Foremost, I would like to express my sincere gratitude to my supervisor,

Dr. Nguyen Thi Nguyet Que, for the continuous support of my MBUS study and

research, for her patience, motivation, enthusiasm, and immense knowledge. Her

guidance helped me in all the time of research and writing of this thesis.

Besides my supervisor, I would like to thank the rest of my thesis

committee: Prof. Nguyen Dong Phong, Prof. Nguyen Dinh Tho, and Dr. Tran Ha

Minh Quan, for their encouragement, insightful comments, and hard questions.

I thank my classmates in ISB MBUS 2010 encourage and support me

complete this thesis. Completing this work would have been all the most difficult

were it not for the support and friendship provided by the members of University

of Economics Ho Chi Minh City - International School of Business.

Last but not the least; I would like to thank my family. I must express my

gratitude to Nguyen Thi Hong Hiep, my wife, for her continued support and

encouragement. I also wish thank all those people who spent through their time

and generous support made this thesis project a dream come true.

Ho Chi Minh City, December 18, 2012

NGUYEN KHAC DUY

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ABSTRACT

Mobile phones with banking technology are becoming more readily

available in Vietnam. Similarly, many financial institutions and mobile phone

service providers are teaming up to provide several banking services to

customers via the mobile phone. However, the number of people who choose to

adopt or use such technologies is still relatively low. Therefore, there is a need to

assess the acceptance of such technologies to establish factors that hinder or

promote customer‟s intention to use mobile banking (MB). Technology

Acceptance Model (TAM) and Theory of Planned Behaviour (TPB) are the base

models in order to investigate the customers‟ intention to use mobile banking

services in Ho Chi Minh City (HCMC). A questionnaire with five-point Likert

scale is survey to 400 target respondents. This research combines the variables

(1) “perceived usefulness”, (2) “perceived ease of use”, (3) “attitude”, (4)

“subjective norm”, and (5) “Perceived behavioral control” in a proposed model

to reflect consumer‟s intention to use mobile banking. Results indicate that

perceived usefulness, perceived ease of use, subjective norm, and perceived

behavioral control are significant with respect to the customer‟s intention to use

mobile banking services. In constrast with previous studies, attitude was not

significant in explaining mobile banking adoption. In summary, perceived

behavioral control contributes the most in explaining the factor of intention to

use mobile banking. The results of the data analysis contributes to the body of

knowledge by demonstrating that the above factors are critical in intention to use

mobile banking in a developing country context. The implications of the results

form a good basis for providing practical recommendations to leaders of

commercial banks, and directions for further work.

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TABLE OF CONTENTS

ACKNOWLEDGEMENT ..................................................................................... 2

ABSTRACT........................................................................................................... 3

LIST OF FIGURES................................................................................................ 7

LIST OF TABLES ................................................................................................. 7

CHAPTER 1: INTRODUCTION .......................................................................... 8

1.1. Research background ................................................................................... 8

1.2. Overview of electronic banking market in Ho Chi Minh City .................... 9

1.2.1. E-banking services ................................................................................ 9

1.2.2. Advantages of e-banking services....................................................... 11

1.2.3. Difficulties in implementing e-banking services................................ 12

1.3. Problem statement...................................................................................... 13

1.4. Research objective ..................................................................................... 14

1.5. Research scopes and limitations ................................................................ 15

1.6. Research implications................................................................................ 15

1.7. Thesis structure .......................................................................................... 16

1.8. Summary .................................................................................................... 17

CHAPTER 2: LITERATURE REVIEW ............................................................. 18

1.1. Theoretical background ............................................................................. 18

1.1.1. Technology Acceptance Model........................................................... 18

1.1.2. Theory of Planned Behavior ............................................................... 19

1.2. Research model and hypotheses ................................................................ 20

1.3. Summary .................................................................................................... 24

CHAPTER 3: METHODOLOGY ....................................................................... 25

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3.1. Research design.......................................................................................... 25

3.2. Development of questionnaire ................................................................... 26

3.2.1. Measurement scales............................................................................. 26

3.2.1.1. Measure of Perceived usefulness and Perceived ease of use ....... 26

3.2.1.2. Measure of Attitude...................................................................... 27

3.2.1.3. Measure of Subjective norms....................................................... 28

3.2.1.4. Measure of Perceived Behavioural Control ................................. 29

3.2.1.5. Measure of Intention to use mobile banking................................ 29

3.2.2. Draft questionnaire.............................................................................. 30

3.3. Pilot study .................................................................................................. 30

3.4. Sample method........................................................................................... 31

3.5. Questionnaire administration ..................................................................... 32

3.6. Data analysis methods................................................................................ 32

3.6.1. Reliability............................................................................................ 32

3.6.2. Exploratory Factor Analysis (EFA) .................................................... 33

3.6.3. Multiple regression analysis................................................................ 33

3.7. Summary .................................................................................................... 34

CHAPTER 4: DATA ANALYSIS AND RESULTS .......................................... 35

4.1. Descriptive analysis ................................................................................... 35

4.2. Measure assessment ................................................................................... 36

4.2.1. Reliability analysis.............................................................................. 36

4.2.2. Exploratory Factor Analysis (EFA) .................................................... 38

4.3. Hypotheses testing ..................................................................................... 41

4.4. Testing the effect of demographic variables.............................................. 44

4.5. Summary .................................................................................................... 44

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CHAPTER 5: CONCLUSION............................................................................. 46

5.1. Overview.................................................................................................... 46

5.2. Main findings............................................................................................. 46

5.3. Practical implications................................................................................. 47

5.4. Theoretical implications............................................................................. 47

5.5. Limitations................................................................................................. 48

APPENDICES...................................................................................................... 52

APPENDIX 1: QUESTIONNAIRE ................................................................. 52

APPENDIX 2: DESCRIPTIVE STATISTICS................................................. 56

APPENDIX 3: CRONBACH‟S ALPHA RELIABILITY ANALYSIS .......... 58

APPENDIX 4: INTER-ITEM CORRELATION MATRIX ........................... 61

APPENDIX 5: THE FIRST-TIME RUNNING FACTOR ANALYSIS –

EIGENVALUES (FOR INDEPENDENT VARIABLES)............................... 62

APPENDIX 6: THE FIRST TIME RUNNING – FACTOR LOADING ........ 63

APPENDIX 7: THE SECOND TIME RUNNING – EIGENVALUES .......... 65

APPENDIX 8: THE SECOND TIME RUNNING – FACTOR LOADING ... 66

APPENDIX 9: THE FIRST TIME RUNNING – EIGENVALUES AND

FACTOR LOADING (FOR DEPENDENT VARIABLE).............................. 67

APPENDIX 10: MULTIPLE REGRESSION.................................................. 68

APPENDIX 11: CHARTS OF TESTING HYPOTHESES ............................. 69

APPENDIX 12: AFFECTING OF DEMOGRAPHIC VARIABLES ............. 71

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LIST OF FIGURES

Figure 1: Technology Acceptance Model ........................................................... 14

Figure 2: Theory of Planned Behaviour .............................................................. 16

Figure 3: The proposed research model with hypotheses ................................... 17

Figure 4: Research process................................................................................... 22

LIST OF TABLES

Table 1: Figure of e-banking services of 15 commercial banks in HCMC ........ 10

Table 2: Scale of Perceived usefulness and Perceived ease of use ..................... 27

Table 3: Scale of Attitude ................................................................................... 28

Table 4: Scale of Subjective norms ..................................................................... 29

Table 5: Scale of Perceived Behavioural Control ............................................... 29

Table 6: Scale of Intention to use mobile banking .............................................. 30

Table 7: Cronbach‟s alpha reliability coefficient ................................................ 33

Table 8: Descriptive statistic of respondent‟s characteristics ............................. 36

Table 9: Reliability analysis for each factor ....................................................... 38

Table 10: Key dimensions, items ........................................................................ 41

Table 11: R Square Value (R2) ........................................................................... 43

Table 12: ANOVA .............................................................................................. 43

Table 13: Beta Coefficient .................................................................................. 43

Table 14: Creating and recoding variables ......................................................... 45

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