Documentos de Académico
Documentos de Profesional
Documentos de Cultura
Technology Management Lab, School of Management, Universiti Sains Malaysia, 11800 Minden, Penang, Malaysia
Department of Quantitative Methods and Information Systems, College of Business Administration, P.O. Box 5486, Safat 13055, Kuwait
c
Altera Corporation (M) Sdn. Bhd., Plot 6, Bayan Lepas Technoplex, Medan Bayan Lepas, 11900 Penang, Malaysia
b
a r t i c l e
i n f o
Article history:
Available online 3 August 2009
Keywords:
Decomposed theory of reasoned action
Attitude
Subjective norm
Perceived usefulness
Perceived ease of use
Internet stock trading
a b s t r a c t
This article studied factors inuencing the intention to use Internet stock trading among investors in
Malaysia. To achieve this objective, this study selected the decomposed theory of reasoned action as a
theoretical basis to explain variation in intention to use. Structured questionnaires were used to collect
data from 144 current and potential investors who are aware of Internet stock trading in Malayisa. Findings show that attitude and subjective norm have a direct positive relationship towards behavioral intention to use Internet stock trading. Attitude was signicantly inuenced by perceived ease of use and
perceived usefulness whereas subjective norm was signicantly inuenced by injunctive norm and
descriptive norm which were proposed as antecedents. In addition the results of the study could serve
as a guideline for online stock broking organizations in understanding the factors and programs that need
to be initiated to increase online stock trading among current and potential retail investors. As not much
has been written on decomposed theory of reasoned action, particularly in Internet stock trading, this
study adds to the literature of understanding intention to use a technology in a developing country.
2009 Elsevier Ltd. All rights reserved.
1. Introduction
The proliferation of the Internet has radically transformed the
offering of online nancial services by banks and nancial rms.
The natural extension of e-commerce in the securities market is
Internet-based stock trading and securities services. Investors
would now be able to acquire or sell shares or stocks from anywhere by just using Internet-based order submission protocols.
Real-time stock prices and monitoring, portfolio management, various kinds of nancial planning, and information which is available
24-h a day are just but a few services that can be accessed by using
a Web-based interface. Internet stock trading is one of the fastest
growing e-nance areas, with South Korea being the current leader
not only Asia but possibily worldwide with up to 60% of trades conducted online (Lee & Ho, 2002).
Online stock trading was embraced in Malaysia in 1995, whereby the Kuala Lumpur Stock Exchange or currently known as Bursa
Malaysia launched the Electronic Client Ordering System. This is an
electronic means for stock broking rms to route orders from clients through proprietary or open system to the Malaysian stock exchange. A proprietary system is a system whereby the users can
dial up into the stockbrokers intranet to convey the transactions
1223
Table 1
Some review of literature in different technology adoption.
Author(s)
Research Study
setting(s) sample(s)
Instrument/models Analysis
Key nding(s)
Gopi and
Ramayah
(2007)
Malaysia Individual
investors
Theory of planned
behavior
Regression analysis
Findings show that attitude, subjective norm, and perceived behavioral control have a
direct positive relationship towards behavioral intention to use Internet stock
trading. The theory of planned behavior can be used to explain variation in behavioral
intention and actual usage
Guriting and
Ndubisi
(2006)
Malaysia Individual
bank
customers
TAM
Factor analysis,
reliability and
regression analysis
Chan and Lu
(2004)
Hong
Kong
Individual
bank
customers
TAM2
Structural equation
modeling
Individual
bank
customers
TPB, decomposed
TPB and TRA
Structural equation
modeling
Singapore Individual
investors
Decomposed
theory of planned
behavior
TPB
Structural equation
modeling
Perceived usefulness and perceived ease of use are strong determinants of behavioral
intention to adopt online banking. Also an indirect effect of computer self-efcacy
and prior general computing experience on behavioral intention through perceived
usefulness and perceived ease of use
Subjective norm and computer self efcacy indirectly play a signicant roles in
inuencing the intention to adopt Internet Banking. Perceived ease of use has a
signicant indirect effect on intention to adopt through perceived usefulness and also
a direct effect on intention
TRA and TPB both provided a comparable t. Attitude and perceived behavioral
control was signicant predictor of intention to adopt whereas subjective norm was
not although normative inuence signicantly inuenced subjective norm. Relative
advantage and complexity were signicant predictors of attitude while self efcacy
was a signicant predictor of perceived behavioral control
Results show that attitude and social factors signicantly inuence investors
intention towards adopting Internet stock trading
Decomposed TPB
Structural equation
modeling
Lee and Ho
(2002)
Athiyaman
Australia Individual
(2002)
customers
Bhattacherjee USA
Electronic
(2000)
brokerage
adopters
Path analysis
Attitude, social factors and perceived behavioral control were all signicantly
correlated with intention to purchase ticket online
TPB was found to be useful in explaining acceptance. Based on a broader
conceptualization of TPBs subjective norm to include both external (mass-media)
and interpersonal inuences, subjective norm was an important predictor of
acceptance, behavioral control has minimal impact on acceptance, and external
inuence is a signicant determinant of subjective norm
1224
Attitude
Behavioral
Intention
Usage
Behavior
Subjective
Norm
Fig. 1. Theory of reasoned action (from Fishbein & Ajzen, 1975).
1225
& Chatzisarantis, 2005; Rhodes & Courneya, 2003). Hence the proposed hypotheses are:
H1a: Social factor (injunctive norm) is positively related to subjective norm.
H1b: Social factor (descriptive norm) is positively related to
subjective norm.
Perceived
Usefulness
Attitude
Perceived Ease
of Use
Behavioral
Intention
Injunctive
Norm
Subjective
Norm
Descriptive
Norm
Fig. 2. The proposed research model.
2.6.3. Attitude
In TRA, attitude is an important variable that predicts direclty
behavioral intention and indireclty the behavior (Fishbein & Ajzen,
1975). Fishbein and Ajzen (1975) classied attitude into attitude towards object and attitude towards specic behavior. In the TRA,
attitude towards object is the function of the individuals belief towards the object and the individuals implicit evaluation of the beliefs he/she holds (Fishbein & Ajzen, 1975). Meanwhile attitude
towards behavior is the function of perceived consequences of performing the behavior of interest and the subjective evaluation of
the individuals towards the consequences (Fishbein & Ajzen, 1975).
The more recent denition of attitude given by Ajzen and Fishbein (2000), is the degree of an individuals positive and negative
feeling towards the particular object or towards the intention of
performing the particular behavior. In the domain of Internet stock
trading, the more favorable is the attitude towards computer and
World Wide Web (attitude towards object) the more favorable will
be the attitude towards performing online stock transaction (attitudes towards behavior) the more likely is the behavioral intention
and thus performance of the behavior.
Studies have proven signicant direct relationship of attitudes
towards behaviorial intention (Athiyaman, 2002; Davis et al.,
1989; Gopi & Ramayah, 2007; Lu et al., 2003; Mathieson, 1991;
Maruf et al., 2003; May, 2005; Ramayah et al., 2002, 2003a,
2003b, 2004; Rhodes & Courneya, 2003; Shih & Fang, 2004; Taylor
& Todd, 1995; Eri, 2004). Hence the proposed hypothesis is:
H2: Attitude towards using Internet stock trading will be positively related to intention to use.
2.6.4. Perceived usefulness
Perceived usefulness is dened as a persons subjective evaluation of the extent of using a system would enhance the individuals
job performance (Davis et al., 1989). In the context of online stock
trading, perceived usefulness would be the degree to which an
individual views Internet stock trading as offering more advantages over previous way of performing stock trading transactions
(Chan & Lu, 2004).
Perceived usefulness has been proven to be antecedents of attitude (Chau & Hu, 2001; Davis, 1989; Eri & Ramayah, 2005; Lee &
Ho, 2002; Mahmood, Dahlan, Ramayah, Karia, & Hasmi, 2005; Mathieson, 1991; Ramayah et al., 2003a, 2003b; Shih & Fang, 2004;
Taylor & Todd, 1995). Positive attitude could be established as
there are many advantages of doing Internet stock trading. In the
context of Internet stock trading, 24-h access on investment reports and advice, and convenience would give an individual relative advantage compared to traditional way of doing stock
trading through face to face contact in the stock market. Thus
the hypothesis formulated is as follows:
H2a: Perceived usefulness will be positively related to attitude
towards using Internet stock trading.
2.6.5. Perceived ease of use
Perceived ease of use is dened as the expectation by an individual of the degree to which the target system will be free from
effort (Davis, 1989). In Internet stock trading eld, perceived ease
of use would be the degree to which Internet stock trading would
be perceived as easy to understand, learn, and use (Chan & Lu,
2004). The less the effort that is required to operate a system,
the more it can lead to increase in job performance by regular
1226
use of the system (Davis, 1989; Venkatesh & Davis, 2000). Also
with less complexity in operating a system, positive attitude could
be developed subsequently towards intention and behavior.
Researchers have proven perceived ease of use to have a direct
relationship towards attitude (Bhattacherjee, 2000; Chen et al.,
2002; Davis, 1989; Mahmood, Dahlan, Ramayah, Karia, & Hasmi,
2005; Mathieson, 1991; Ramayah et al., 2003a, 2003b; Taylor &
Todd, 1995). Hence the following hypothesis is formulated:
H2b: Perceived ease of use will be positively related to attitude
towards using Internet stock trading.
2.6.6. Behavioral intention to use
Many researchers have proven that intention to use is a close
antecedent of willful behavior, and there is high correlation between
willful behavior and intention (Ajzen, 1985). Intention to use is the
perception of individuals that a particular behavior will be performed (Fishbein & Ajzen, 1975). Thus, a specic behavior is performed, an individual will form intention, which is assumed to
capture the motivational factors that exert the degree of impact on
the behavior (Ajzen, 1985). Most existing theories of adoption use
intention as an antecedent of behavior. This is the case of TRA model
(Fishbein & Ajzen, 1975), TPB (Theory of Planned Behavior) (Ajzen,
1991), decomposition of TPB (Taylor & Todd, 1995), integrated TPB
(Chau & Hu, 2001), and TAM (Davis, 1986, 1989; Davis et al., 1989).
3. Methodology
3.1. Sample and procedure
A structured questionnaire using 7-point Likert type scale was
employed to gather data for the constructs proposed in the research model. This study target two groups: individuals in Malaysia who have conducted trading, i.e. those who buy and sell of
stocks for personal investment, as well as those who are aware
of Internet stock trading in the Bursa Saham Malaysia. The research
site for this study is brokerage houses in Penang. This is a crosssectional study for which data was gathered once over a period
of 3 weeks at the end of 2006 to beginning of 2007. A total of
150 responses were obtained from 300 questionnaires. From the
150, 6 were discarded due to incomplete data giving the nal response rate of 48%.
3.2. Variables and measurement
All instruments were adapted from various literature and were
modied for the adaptation to the Internet stock trading context.
The dependent variable, behavioral intention was measured using
four items derived from Shih and Fang (2004). Three items for attitude and six subjective norm items were also derived from Shih
Table 2
Factor and reliability analysis.
Items
F1 attitude towards behavior
Factor and reliability analysis (antecedents of behavioral intention)
I feel using Internet stock trading is a wise idea
I feel using Internet stock trading is a good idea
I like to use Internet stock trading
(Eigenvalue = 1.024; Variance = 11.378%)
F2 subjective Norm
Most people who are important to me would think that using the Internet stock trading is a wise idea
Most people who are important to me would think I should use Internet stock trading
My family who are important to me would think that using the Internet stock trading is a wise idea
My family who are important to me would think that using the Internet stock trading is a good idea
My family who are important to me would think I should use Internet stock trading
(Eigenvalue = 6.511; Variance = 72.341%)
Total variance = 83.719%
Factor and reliability analysis (antecedents of attitude)
F1a perceived usefulness
Using Internet stock trading system would save time
Using the Internet stock trading system would improve my performance in conducting stock trading transaction
Using Internet stock trading system make it easier for me to conduct stock trading transaction
I would nd the Internet stock trading system useful in conducting my stock trading transaction
(Eigenvalue = 6.176; Variance = 77.20%)
F1b perceived ease of use
Learning to use the Internet stock trading system is easy for me
It would be easy for me to become skillful at using Internet stock trading system
I would nd the Internet stock trading systems easy to use
(Eigenvalue = 0.572; Variance = 7.148%)
Total variance = 84.348%
Factor and reliability analysis (antecedents of subjective norm)
F2a descriptive norm
Most of my friends are using Internet stock trading system
Most of my family members are using Internet stock trading system
Most of my co-workers are using Internet stock trading system
Most people I know are using Internet stock trading system
(Eigenvalue = 1.221; Variance = 15.257%)
F2b injunctive norm
Most people in my social network would want me to use Internet stock trading
Most people in my social network would approve if I use Internet stock trading
Most people who are important to me would want me to use Internet stock trading
Most people who are important to me would approve if I use Internet stock trading
(Eigenvalue = 5.518; Variance = 68.978)
Total variance = 84.234%
Loading
Commonality
0.917
0.922
0.716
0.913
0.926
0.779
Alpha
0.9265
0.664
0.83
0.867
0.898
0.889
0.728
0.836
0.856
0.895
0.859
0.9449
0.778
0.851
0.785
0.797
0.72
0.843
0.885
0.87
0.931
0.778
0.84
0.877
0.86
0.871
0.894
0.9287
0.882
0.851
0.824
0.871
0.83
0.822
0.799
0.88
0.932
0.824
0.861
0.864
0.906
0.827
0.833
0.877
0.87
0.9397
and Fang (2004). Four items for injunctive norms and four items for
descriptive norm were derived from Rhodes and Courneya (2003)
and Hagger and Chatzisarantis (2005). Four items of perceived usefulness and four items perceived ease of use were derived from
Shih and Fang (2004). Responses were measured using 7-point Likert type scale anchored by strongly disagree (1) to strongly
agree (7) with neutral (4) as middle point.
3.3. Analysis and result
The respondents comprised mainly of male, 93 respondents
(64.6%) and 51 females (35.4%). The ethnicity distribution of the
respondents is Chinese, 122 respondents representing 84.7%, Malay representation of 6.3% and Indian and other races representation of 9.0%. The ethnicity distribution of the respondents
correlates with the data from the remisiers who indicated that
the distribution of investors are 80% Chinese, and the balance
20% represented by Malay, Indian, other races and foreigners. This
data is obtained through informal interview as the data is seen as a
very sensitive issue by the Malaysian government. The mean (average) age of the respondents is 39.2 years with standard deviation of
9.95 years. In the educational level analysis, bachelor degree holders comprise of 71 (49.3%) respondents, diploma holders and secondary school leavers with 28 (19.4%) respondents each and
master degree holders and higher with 13 (9%) respondents. In
terms of income level, most were earning $450 to $850 per month
with a total of 47%. Most of the respondents are attached to the private sector (73.6%), government sector were 7.6%, and the rest
18.8% were those who are self employed or retirees.
In the Internet usage analysis, 89.6% of the respondents are
owners of personal computers and 10.4% of respondents do not
own personal computer. In analysis about the awareness of Internet stock trading, all of the respondents are aware of Internet stock
trading. Although there is a high percentage in terms of awareness,
only 34.7% of the respondents are users of Internet stock trading
systems meanwhile 65.30% are not users of Internet stock trading
system. Internet stock trading usage in a month averaged about 4.3
times with standard deviation of 17.47 times. As for the number of
transaction made per time of usage the mean was 1.3 transactions
with standard deviation of 4.56 transactions.
3.4. Goodness of measure
Factor analysis using the principal component analysis and an
orthogonal rotation was conducted on the independent variables.
During the factor analysis, factors with eigenvalue of less than
one would be rejected and factors with eigenvalue of more than
one would be retained for further analysis (Hair, Anderson, Tatham, & Black, 1998). A two stage rule was employed, rst the
loading of 0.30 was used as a minimum cutoff point and second,
the factor is clearly loaded in one factor alone (Nunnally, 1978).
To avoid the problem of cross loading, if the differences of loadings
of any item across factors was less than 0.10, then the items will be
deleted (Snell & Dean, 1992).
To measure the internal consistency of the items in the survey
instrument, reliability test using Cronbachs alpha was conducted
on all the independent and dependent variable. The internal consistency is measured by value of Cronbachs alpha and in an exploratory study, 0.50 is deemed as an acceptable level. Results of the
factor and reliability analysis are presented in Table 2. These results have been generated after two items were eliminated. One
is related to attitude and another to perceived ease of use. These
two items did not satisfy the minimum cut-off value specied by
Hair et al. (1998).
The rst factor analysis was conducted on items that form attitude and subjective norm. From the 9 items, 8 items were loaded
1227
on 2 factors in the rst factor analysis. Five items that forms subjective norm were loaded in factor 1 with a total variance of
72.341% and 3 items from attitude were loaded on factor 2 with
a total variance of 11.378%. A second factor analysis was conducted
for items for perceived usefulness and perceived ease of use. Out of
the eight items from perceived usefulness and perceived ease of
use, seven items were loaded on two factors with a total variance
explained of 84.34%. The rst factor, perceived usefulness was
loaded in factor one with a total variance of 77.20% and the second
factor, perceived ease of use was loaded in factor 2 with a total variance of 7.148%. The third factor analysis was conducted on items
from injunctive and descriptive norm. All eight items were loaded
on two factor with injunctive norm on the rst factor with the variance 68.978% and items from descriptive norm on factor two with
variance of 15.257%. Furthermore all the factors Cronbachs alpha
values were more than 0.90 indicating excellent reliability.
Before proceeding to the hypotheses testing, we tested our notion that both groups (current users and non users) have the same
level of perceived risk. An indpendent t-test was conducted to test
whether the users and non users had different perception of risk.
The results showed that there was no statistical difference in the
mean perceived risk of both groups. Further to that we tested the
other major variables also using the same method and found that
some variables were statistically signicant but a further review
of the effect size revealed that the effect was small. Effect size is
to test if the statistical differences found is truly sufcient and
not by chance. Although sometimes the difference is signicant,
it may be because of the large sample size where very small differences will be signicant. Effect size calculates the strength of the
association which indicates the relative magnitude of the differences between means. Tabachnick and Fidell (1996, p. 53) described this as amount of total variance that is predictable from
the knowledge of the levels of the independent variable. We used
one of the common measures of effect size which is eta squared.
Eta squared represents the proportion of variance of the dependent
variable that is explained by the independent variable (Pallant,
2001). To interpret the strength we can follow the guidelines of
Cohen (1988) which is as follows, 0.01 (small effect size), 0.06
(moderate effect) and 0.14 (large effect size). Thus, we proceeded
to the analysis section by combining the 2 groups of users.
4. Research ndings
After the factor analysis, multiple regression analysis were carried to determine the relationship between the independent and
the dependent variable of the model. For this purpose, three stage
regressions were run successively for attitude, subjective norms,
and behavioral intention BI.
4.1. Predicting intention to use of Internet stock trading
Results of Table 3 show that the model is t as the model is signicant (p < 0.01) with an F value of 79.128. It also shows that the
52.2% of the variations in behavioral intention to use Internet stock
trading is explained by attitude and subjective norm. Results also
show that hypotheses 1 (subjective norm is positively related to
behavior intention) and hypotheses 2 (attitude is positively related
to intention) was accepted at the signicance level of p < 0.01.
4.2. Predicting atittude toward the use of Internet stock trading
Table 3 shows that the model is t as the model is signicant at
p < 0.01, with an F value of 67.500. 48.2% of the variation in attitude is explained by perceived usefulness and perceived ease of
use. Thus, hypotheses 2a and 2b are well supported at p < 0.01.
1228
Table 3
Results of multiple regression analysis.
R2
52.2%
.477**
.302**
79.128**
48.20%
.423**
.304**
67.50**
49.60%
.419**
.362**
71.35**
**
ness of attitude towards the object. Even though the rst impression of individuals is to look for the relative advantage of the
new system, during the usage trial, perceived ease of use of the
system would increase the relative advantage/perceived usefulness and thus attitude would become more favorable.
5.1. Managerial implications
p < 0.05.
p < 0.01.
Results of this study contribute to advance and guide management relate to Internet stock trading from a number of ways. First,
the article makes a contribution to this eld by providing insights
on the factors that seem to affect Internet stock trading future
adoption. It also sheds light on factors that might drive or inhibit
e-commerce initiatives in a developing country. This study may
help companies willing to penetrate the Malaysian market for
ecommerce or new technology adoption. Second, the results of
the study provide managers with guidelines on how to orient their
marketing efforts in order to advertise Internet stock trading and
how they can better change the current situation by promoting positive attitudes towards the technology and its future adoption.
Third, the study suggests companies offering Internet stock trading
help potential users adopt a favorable attitude. These are related to
positive perceptions like, wise and good participant feelings of
Internet stock trading. These may be increased through the usage
of social norms and by focusing on the two variables which are
injunctive norm and descriptive norms. Malaysia a collectivist culture compared to the West. In collectivist culture, social norms are
valued and individual actions are inuenced by the group to whom
they identify themselves to, or who are important to him/her or
those who would think he/she should do a specic behavior. These
groups include important members such as friends, and family
members. So companies offering Internet stock trading, may use
word of mouth as another advertisement alternative to increase
favorable attitudes, which will directly affect behavioral intention
to use Internet stock trading. Fourth, companies offering Internet
stock trading may also increase positive feelings through the
advertising of Internet stock trading benets and its ease of use
for current and potential users. Benets are related to technology
ubiquity since it can be used from everywhere, home or work,
and contribute to remove temporal and geographical barriers. Ease
of use is related to the mental efforts required to learn the technology in terms of ease to learn the technology and make it easy to become skillful in using the Internet too.
In conclusion, organizations could easily manage the multidimensional components of the belief structure to inuence the
belief structure and indirectly inuence the intention to use Internet stock trading.
5.2. Limitations and suggestions for future research
This empirical study has several limitations. First, due to constraint of time, the study is limited in scope as it consists of only
a small sample size (144). Second, investigation on Internet stock
trading is relatively new in technology management research especially in Malaysia. Caution should be exercised in generalizing the
implications, ndings and the discussion to other studies on technology and system. Third, the scope of this study is conned to the
island of Penang, therefore the sample may not be generalized to
the belief and intention towards using Internet stock trading of
the Malaysian population in general. Fourth, since the study is relatively new, actual usage behavior measure was omitted. The
omission is voluntary since not all participants were users of the
Internet stock trading. Moreover, the omission is consistent with
many other studies that have empirically proven the intention
behavior relation (Davis, 1989; Davis et al., 1989; Rouibah et al.,
2009; Taylor & Todd, 1995; Venkatesh & Morris, 2000). Fifth, the
used statistical analysis technique was regression and not simultaneous equation techniques (LISRE or PLS). However, this is acceptable since this study concerns a technology that is not very well
known and spread out in Malaysia, and many past studies also
used multiple regression (see Rouibah et al., 2009; Venkatesh &
Davis, 2000; Venkatesh & Morris, 2000; Venkatesh et al., 2003).
For future research direction, this study proposes three
enhancements. The variance explained by the proposed model
was 52.2% indicating that 47.8% remains unknown and calls for
substantial research. First, this study encourages future exploration
of the decomposed theory of reasoned action as previous studies
have found that the most important threats against using e-commerce transactions are related to security (Hiltgen, Kramp, and
Weigold (2006), trust (Gefen, Karahanna, & Straub, 2003), and privacy (Vijayasarathy, 2004), as antecedents of usefulness. Second,
this study encourages future studies that aims to study current
behavior and continue use of Internet stock market, by focusing
on a large sample that covers the 13 states of Malaysia. Third,
intention to use does not mean current behavior, and current
behavior does not lead to continuous usage (Bhattacherjee,
2001). In order to study such effect, the measurement of portfolio
protability of investors over several holding periods could provide insight into whether investors go through behavioral changes
of using or continue using online stock trading (Choi et al., 2002).
6. Conclusion
The main objective of this study is to identify the factors that
are involved in inuencing intention on using Internet stock trading. From the ndings it has been identied that attitude and subjective norm signicantly inuence investors behavioral intention
towards using Internet stock trading. The decomposed variable
also showed signicant relationship towards belief structure. From
the practical view point, this study has explained the factors that
inuence the intention to use online stock trading but continued
research are needed taking into consideration the limitations as
mentioned in this study.
References
Ajzen, I. (1985). From intentions to actions: A theory of planned behavior. In J. Kuhi
& J. Beckman (Eds.), Action-control: From cognition to behavior (pp. 1139).
Heidelberg: Springer.
Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and Human
Decision Processes, 50, 179211.
Ajzen, I. (2002). Perceived behavioral control, self-efcacy, locus of control and the
theory of planned behavior. Journal of Applied Social Psychology, 32, 120.
Ajzen, I., & Fishbein, M. (2000). Attitudes and the attitudebehavior relation:
Reasoned and automatic processes. In W. Stroebe & M. Hewstone (Eds.),
European Review of Social Psychology (pp. 128). John Wiley & Sons.
Athiyaman, A. (2002). Internet users intention to purchase air travel online: An
empirical investigation. Marketing Intelligence & Planning, 20(4), 234242.
Bhattacherjee, A. (2000). Acceptance of Internet applications services: The case of
electronic brokerages. IEEE Transactions on Systems, Man, and Cybernetics Part
A: Systems and Humans, 30, 411420.
Bhattacherjee, A. (2001). Understanding information systems continuance: An
expectation conrmation model. MIS Quarterly, 25(3), 351370.
Chan, S. C., & Lu, M. T. (2004). Understanding Internet banking adoption and user
behavior: A Hong Kong perspective. Journal of Global Information Management,
12(3), 2143.
Chau, P. Y. K., & Hu, P. J. H. (2001). Information technology acceptance by individual
professionals: A model comparison approach. Decision Science, 32(4), 699719.
Chen, L. D., Gillenson, M. L., & Sherrel, D. L. (2002). Enticing online consumers: An
extended technology acceptance perspective. Information and Management, 39,
705719.
Choi, J. J., Laibson, D., & Metrick, A. (2002). How does the Internet affect trading?
Evidence from investor behavior in 401(k) plans. Journal of Financial Economics,
64(3), 397421.
Cialdini, R. B., Reno, R. R., & Kallgren, C. A. (1990). A focus theory of normative
conduct: Recycling the concept of norms to reduce littering in public places.
Journal of Personality and Social Psychology, 58(6), 10151026.
Cohen, J. W. (1988). Statistical power analysis for the behavioral sciences. Hillsdale, NJ:
Lawrence Erlbaum Associates.
1229
1230
Rivis, A., & Sheeran, P. (2003b). Social inuence and the theory of planned
behaviour: Evidence for a direct relationship between prototypes and
young peoples exercise behaviour. Psychology and Health, 18(5),
567583.
Rogers, E. M. (1983). Diffusion of innovations (3rd ed.). New York: The Free Press.
Rouibah, K., Khalil, O., & Hassanien, A. E. (2009). Emerging markets and e-commerce
in developing economies. Idea Group Inc., 450 p.
Rouibah, K., Ramayah, T., & May, O. S. (2009). User acceptance of internet banking in
Malaysia: Test of three acceptance models. International Journal for E-Adoption,
1(1), 119.
Sani, R. (2005). Slow uptake of online share trading. Computimes New Straits Times
(accessed 20.06.2005).
Shih, Y. Y., & Fang, K. (2004). The use of decomposed theory of planned
behavior to study Internet banking in Taiwan. Internet Research, 14(3),
213223.
Shimp, T., & Kavas, A. (1984). The theory of reasoned action applied to coupon
usage. Journal of Consumer Research, 11, 795809.
Snell, S. A., & Dean, J. W. Jr., (1992). Integrated manufacturing and human resource
management: A human capital perspective. Academy of Management Journal, 3,
467504.
Suh, B., & Han, I. (2002). Effects of trust on customer acceptance of Internet banking.
Electronic Commerce Research and Applications, 1(3/4), 247263.
Tabachnick, B. G., & Fidell, L. S. (1996). Using multivariate statistics. New York:
Harper Collins.
Taylor, S., & Todd, P. (1995). Understanding the information technology usage: A
test of competing models. Information Systems Research, 6(2), 144176.
Venkatesh, V., & Davis, F. D. (2000). A theoretical expansion of the technology
acceptance model: Four longitudinal eld studies. Management Science, 46(2),
186204.
Venkatesh, V., & Morris, M. G. (2000). Why dont men stop to ask for directions?
Gender, social inuence, and their role in technology acceptance and usage
behavior. MIS Quarterly, 24(1), 115139.
Venkatesh, V., Morris, M. G., & Davis, G. B. (2003). User acceptance of information
technology: Toward a unied view. MIS Quarterly, 27(3), 425478.
Vijayasarathy, L. (2004). Predicting consumer intentions to use on-line shopping:
The case for an augmented technology acceptance model. Information &
Management, 41(6), 747762.
Wang, Y. S., Wang, Y. M., Lin, H. H., & Tang, T. I. (2003). Determinants of user
acceptance of Internet banking: An empirical study. International Journal of
Service Industry Management, 14(5), 501519.