Luận văn thạc sĩ UEH internet banking adoption in ho chi minh city, an application of unified theory

UNIVERSITY OF ECONOMICS HO CHI MINH CITY

International School of Business

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

Nguyen Thi Phuong Tra

INTERNET BANKING ADOPTION

IN HO CHI MINH CITY:AN APPLICATION OF

UNIFIED THEORY OF ACCEPTANCE AND USE

OF TECHNOLOGY (UTAUT) MODEL

MASTER OF BUSINESS (Honours)

Ho Chi Minh City – 2014

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UNIVERSITY OF ECONOMICS HO CHI MINH CITY

International School of Business

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

Nguyen Thi Phuong Tra

INTERNET BANKING ADOPTION

IN HO CHI MINH CITY: AN APPLICATION OF

UNIFIED THEORY OF ACCEPTANCE AND USE

OF TECHNOLOGY (UTAUT) MODEL

ID: 22110065

MASTER OF BUSINESS (Honours)

SUPERVISOR: Dr. NGUYEN THI NGUYET QUE

Ho Chi Minh City – 2014

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ACKNOWLEDGMETS

Firstly, I would like to express my deepest appreciation to my supervisor Dr. Nguyen

Thi Nguyet Que for her professional guidance, valuable advice, continuous

encouragement, and motivating support that made this thesis possible.

I would like to extend deep senses of gratitude to Professor Nguyen Dong Phong, Dr.

Tran Ha Minh Quan, Professor Nguyen Dinh Tho and lecturers who have taught and

me valuable knowledge and experience during the period of Master of Business

course at International School of Business.

Special, thanks to all of my dear friends in MBUS 2011 class, who share with me

useful material, response and experience to conduct this study.

I would like to express my grateful thanks to my friends and all the customersin three

banking who participated in filling the questionnaires and provided the valuable

information for this study.

Personally, I wish to express my deep gratitude to my parents, my husband and two

younger brothers for their spiritual support and encouragement during the time of

study. Specially, I must express my gratitude to Cao Thi Ngoc Anh, mother - in - law,

for her taking care of my son since I was pregnant until now when my child is 17

months old. So, I was able to complete the course on time. I also wish to thank all

those people who spent their time and generous support making this thesis project a

dream come true.

Ho Chi Minh City, Vietnam,

21 April 2014

Nguyen Thi Phuong Tra

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PLAGIARISM STATEMENTS

I would like to declare that, apart from the acknowledged references, this thesis either

does not use language, ideas, or other original material from anyone; or has not been

previously submitted to any other educational and research programs or institutions. I

fully understand that any writings in this thesis contradicted to the above statement

will automatically lead to the rejection from the MBA program at International School

of Business University of Economics, HCMC.

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COPYRIGHT STATEMENT

This copy of the thesis has been supplied on condition that anyone who consults it is

understood to recognize that its copyright rests with its author and that no quotation

from the thesis and no information derived from it may be published without the

author’s prior consent.

© Nguyen Thi Phuong Tra / ISB-MBUS/2011-2013

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ABSTRACT

Purpose: Internet banking is becoming a new focuses as the number of Internet users

and its benefits is increasing worldwide and its benefits. However, the degree of intent

to use Internet marketing is still a question of interest. Thus, the purpose of this paper

is to investigate the effects of performance expectancy, effort expectancy, social

influence, facilitating conditions, perceived credibilityand anxiety on behavioural

intention to use Internet banking in Viet Nam and the developing Asian countries with

good internet infrastructure. Totally, 300 questionnaires were distributed to customers

of Bank for Investment and Development of Viet Nam (BIDV), Asia commercial

bank (ACB) and Military Commercial Joint Stock Bank (MBBank),278

questionnaires were collected and 242 questionnaires were used for the final analysis.

The results from analysis of them based on multiple linear regression show that all

five factors i.e. performance expectancy, social influence, facilitating conditions,

perceived credibilityand anxietyhave an impact on behavioural intention to use

Internet banking. Knowing the determinants on Internet banking adoption could help

banking companies to improve their service to attract more users. Besides, the use of

Internet banking could reduce the frequency to bank that indirectly reduces cost.

Keywords: Internet banking, performance expectancy, effort expectancy, social

influence, facilitating condition, perceived credibilityand anxiety.

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TABLE OF CONTENT

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ACKNOWLEDGMETS..................................................................................................i

COPYRIGHT STATEMENT .......................................................................................iii

ABSTRACT ..................................................................................................................iv

TABLE OF CONTENT..................................................................................................v

LIST OF TABLES.........................................................................................................ix

LIST OF ABBREVIATIONS ........................................................................................x

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

1.1 Research background...........................................................................................1

1.2 Problem statement ...............................................................................................2

1.3 Research objective...............................................................................................3

1.4 Research scopes and methodology......................................................................4

1.5 Thesis structure....................................................................................................5

2. CHAPTER 2: LITERATURE REVIEW AND HYPOTHESIS .........................7

2.1 Theoretical foundation.........................................................................................7

2.1.1 The Theory of Reasoned Action (TRA) .............................................................7

2.1.2 Theory of Planned Behavior (TPB) ....................................................................8

2.1.3 Technology Acceptance Model (TAM)..............................................................9

2.2 The Unified Theory of Acceptance and Use of Technology (UTAUT) ...........10

2.3 Development of research hypotheses................................................................12

2.3.1 Performance expectancy ...................................................................................13

2.3.2 Effort expectancy ..............................................................................................14

2.3.3 Social influence .................................................................................................14

2.3.4 Facilitating conditions.......................................................................................16

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2.3.5 Perceived credibility..........................................................................................17

2.3.6 Anxiety..............................................................................................................18

2.3.7 Behavioral intention to use Internet banking ....................................................19

2.4 Summary of research model and hypotheses....................................................19

2.5 Summary............................................................................................................21

3. CHAPTER 3: RESEARCH METHODOLOGY...............................................22

3.1 Research design process....................................................................................22

3.2 Development of questionnaires.........................................................................23

3.2.1 Measurement scale ............................................................................................23

3.2.2 Draft questionnaires ..........................................................................................25

3.3 Pilot study..........................................................................................................25

3.4 Main survey.......................................................................................................26

3.4.1 Sample size........................................................................................................26

3.4.2 Sampling method ..............................................................................................27

3.5 Data analysis method.........................................................................................28

3.5.1 Reliability..........................................................................................................29

3.5.2 Exploratory factor analysis (EFA) ....................................................................29

3.5.3 Multiple regression analysis..............................................................................30

3.6 Summary............................................................................................................31

4. CHAPTER 4: DATA ANALYSIS....................................................................32

4.1 Descriptive data analysis...................................................................................32

4.2 Reliability analysis ............................................................................................34

4.3 Exploratory factor analysis (EFA) ....................................................................37

4.3.1 Exploratory factor analysis results for measurement scales of independent

factors ...........................................................................................................................37

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4.3.2 EFA analysis results for measurement scales of dependent factors (behavioral

intention to use Internet banking).................................................................................40

4.4 Correlation and regression.................................................................................41

4.4.1 Correlation analysis...........................................................................................41

4.4.2 Regression assumption testing ..........................................................................43

4.4.3 Multiple linear regression analysis (MLR) .......................................................44

4.5 Final research model..........................................................................................48

4.6 Summary............................................................................................................49

5. CHAPTER 5: CONCLUSIONS AND IMPLICATIONS.................................50

5.1 Conclusions of research.....................................................................................50

5.2 Research contribution........................................................................................52

5.3 Managerial implications....................................................................................53

5.4 Limitations and recommendations for future research......................................56

REFERENCES .............................................................................................................58

APPENDICES..............................................................................................................65

Appendix A: Summarizes the Unified Theory of Acceptance and Use of Technology

(UTAUT) model. ..........................................................................................................65

Appendix B: Guidelines for in-depth interview. ..........................................................67

Appendix C: List of interviewers ................................................................................69

Appendix D: Questionnaire (English Version) ............................................................70

Appendix E: Questionnaire (Vietnamese Version)......................................................72

Appendix F: Results of EFA testing for independent variables...................................74

Appendix G: Results of EFA testing for dependent variables .....................................76

Appendix H: Multiple regression analysis...................................................................77

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