of household head, distance, interest rate, loan procedures, bank experience, e-banking services with 21 scales and these scales are all among the factors that meet the requirements, have the ability to converge, and represent well the observed variables. The dependent variable scale Household access to formal credit (4 observed variables) has converged and represented well the scales. Thus, through the EFA exploratory factor analysis, it shows that the independent and dependent variables all have the ability to converge and represent well the observed variables in the scale and are included in the next test with CFA analysis.
The results of the correlation coefficient matrix analysis of the variables show that the relationships between the variables included in the analysis are statistically significant. The observed significance levels of the factors: Interest rates, procedures, experience, banking experience, and household head characteristics in the correlation matrix are mostly < 0.01, which shows that these impacts are relatively significant. At the same time, the correlation coefficient r runs from 0.3 < r < 0.7, proving that the variables have an impact on each other and have practical significance.
At the same time, when considering the relationship between the independent variables KC, LS, TTV, KNCH, KNNH, NHĐT, DDCH with the dependent variable Y, it shows that the variables KC, TTV, LS and KNNH have a correlation coefficient of r < 0, which means a negative relationship with the dependent variable. All the remaining independent variables have a correlation coefficient of 0.3 < r < 0.7. Through the analysis, we can see that the correlation coefficient between the independent variables and the dependent variable shows a fairly close correlation with each other. From there, we can put the variables into the CFA model for analysis.
3.3.1.3. Confirmatory factor analysis CFA
After linking the errors to improve the model to fit the actual data, the result of the confirmatory factor analysis CFA has a coefficient of Chi-square/df = 1.889 (< 3); GFI
= 0.885; TLI = 0.926 (> 0.9); CFI=0.94 (> 0.9); RMSEA=0.058 (< 0.08).
Figure 3.1. Results of confirmatory factor analysis CFA
Source: Author's synthesis and analysis
The linking of errors is used to correct the difference between the proposed model and the estimated model. When linking errors, the model will be improved to improve Chi-square. Chi-square is used to measure the level of conformity in more detail of the entire research model with reality. In the model, the smaller the Chi-square, the better. Some authors recommend 1 < χ2/df < 3 (Hair et al., 2016). If the errors are linked together, the covariance between them will decrease and make the Chi-square decrease by a corresponding amount compared to the Chi-square of the original model. Then GFI, TLI, CFI... will also be improved.
The author continues to remove each factor that does not fit the model by examining the standardized Beta coefficients of the indicators in the model. Any Beta coefficient < 0.5 will be eliminated.
All standardized Beta coefficients of the variables are > 0.5 so we can temporarily accept this CFA model.
The results of the scale reliability assessment, exploratory factor analysis EFA and confirmatory factor analysis CFA with the measurement criteria of the hypotheses remaining the same from the beginning of the study are as follows:
H1: There is a positive relationship between collateral value and households' ability to access formal credit.
H2: There is a positive relationship between income and household access to formal credit.
H3: There is a positive relationship between the number of years of business experience and the household's ability to access formal credit.
H4: There is a negative relationship between geographical distance and households' access to formal credit.
H5: There is an inverse relationship between loan interest rates and households' access to formal credit.
H6: There is an inverse relationship between the complexity of loan procedures and households' ability to access formal credit.
H7: There is a positive relationship between bank experience and households' access to formal credit.
H8: There is a positive relationship between the quality of e-banking services and households' access to formal credit.
3.3.1.4. SEM structural model factor analysis
The coefficients in the model fit the actual data, the results have coefficient Chi-square/df = 1.742 (< 3); GFI = 0.896; TLI = 0.938 (> 0.9); CFI=0.950 (> 0.9);
RMSEA=0.053 (< 0.08). The model shows the influence of factors affecting the credit accessibility of commercial banks including 8 factors mentioned by the author before.
The results of the SEM structural analysis demonstrated that the factors: household head characteristics (including collateral and income), household head experience, distance, loan procedures, interest rates, banking experience and e-banking services have an impact on the household's ability to access bank credit. The Beta coefficients all satisfy the initial hypothesis except for the factor of banking experience. The results obtained from reality are contrary to the initial assumption. The more banking experience, the lower the household's ability to access credit.
Figure 3.2. SEM structural model analysis results
(Source: Author's synthesis and analysis)
The above results answered the research question about the direction of impact of the factors. The results confirmed that the independent variables have an impact on the ability of households to access formal credit. However, in this study, the experience of the bank has an impact in the opposite direction compared to the initial hypothesis.
3.3.2. For informal credit access models
3.3.2.1. Assessment of scale reliability
Data collected from the survey was analyzed and evaluated for Cronbach's Alpha coefficient. The results of the reliability assessment of the informal credit access scale are summarized in the table in the appendix. (Detailed analysis results are in the appendix)
The test results show that the Cronbach's Alpha coefficient of all scales is above 0.7, so these scales ensure reliability. The total correlation coefficient of the observed variables is greater than 0.3, which is considered satisfactory. However, the observed variable HQ4: "Consumer credit will help me have the opportunity to increase my income or solve my needs" has a Cronbach's Alpha coefficient if the variable is eliminated, which is greater than the general Cronbach's Alpha coefficient (0.721 > 0.707), so this variable is eliminated to increase reliability for the next EFA analysis.
3.3.2.2. Results of exploratory factor analysis EFA
After running EFA for the first time, the observed variables TL4, TL5 were eliminated because they had loading factors less than 0.5 and the observed variables DK4 and TL6 were also eliminated because they did not converge with the observed variables corresponding to the independent variables. After running EFA for the second time, the variables DK1, DK2, DK3 were eliminated because they had loading factors less than 0.5.
Table 3.9. KMO and Bartlett test
KMO
0.894 | |
Bartlett test | 5675.71 |
Sig. | 0.000 |
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![Pre-tax Profit of Bidv Tien Giang in the Period 2011-2015
zt2i3t4l5ee
zt2a3gsnon-credit services, joint stock commercial bank
zt2a3ge
zc2o3n4t5e6n7ts
At that time, the Branch had to set aside a provision for credit risks, which reduced the Branchs income.
Chart 2.2. Pre-tax profit of BIDV Tien Giang in the period 2011-2015
Unit: Billion VND
140
120
100
80
60
40
20
0
63.3
80.34
89.29
110.08
131.99
2011 2012 2013 2014 2015
Profit before tax
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
However, through chart 2.2, it can be seen that BIDV Tien Giangs profit is still increasing continuously, and its operating efficiency is currently leaking. This is a contribution of non-credit services, and this service segment will be increasingly focused on growth by BIDV Tien Giang to ensure the highest profit safety because credit activities have many potential risks. At the same time, focusing on developing non-credit services is consistent with one of the contents of restructuring the financial activities of credit institutions in the project Restructuring the system of credit institutions in the period 2011-2015 approved by the Prime Minister in Decision No. 254/QD-TTg dated March 1, 2012 [14]: Gradually shifting the business model of commercial banks towards reducing dependence on credit activities and increasing income from non-credit services.
2.2. Current status of non-credit service development at BIDV Tien Giang.
2.2.1. BIDV Tien Giang has deployed the development of non-credit services in recent times.
Along with the development of the Head Office, BIDV Tien Giangs products and services are constantly improved and deployed in a diverse manner to ensure provision for many different customer groups in the area: individual customers, corporate customers, and financial institutions. Typical services are as follows: Payment services, treasury services, guarantee services, card services, trade finance, other services: Western Union, insurance commissions, consulting services, foreign exchange derivatives trading, e-banking services,...
2.2.1.1. Payment services:
In accordance with the Prime Ministers Project to promote non-cash payments in Vietnam [15], banks in Tien Giang province have continuously developed payment services to reduce customers cash usage habits through card services and electronic banking services such as: salary payment through accounts, focusing on developing card acceptance points, developing multi-purpose cards, paying social insurance by transfer, paying bills through banks, etc.
Chart 2.3. Net income from payment services in the period 2011-2015
Unit: Million VND
6000
5000
4000
3000
2000
1000
0
3922 4065
4720 5084 5324
2011 2012 2013 2014 2015
Net income from payment services
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
Along with the technological development of the entire system, BIDV Tien Giang has a payment system with a fairly stable transaction processing speed, bringing many conveniences to customers. The results of observing chart 2.3 show that the income from payment services that the Branch has achieved has grown over the years but the speed is not high and the products are not outstanding compared to other banks. Domestic payment products such as: Online bill payment, electricity bills, water bills, insurance premiums, cable TV bills, telecommunications fees, airline tickets, etc. bring many conveniences to customers. Regarding international payment, this is an indispensable activity for foreign economic activities, BIDV Tien Giang is providing international payment methods for small enterprises producing agriculture, aquatic food and seafood that have credit relationships with banks in industrial parks in Tien Giang province such as: money transfer, collection, L/C payment.
2.2.1.2. Treasury services:
BIDV Tien Giang always focuses on ensuring treasury safety and currency security, always complies with legal regulations, and minimizes risks in operations such as: counting and collecting money from customers, receiving and delivering internal transactions, collecting from the State Bank (SBV) or other credit institutions, receiving ATM funds, bundling money, etc. BIDV Tien Giangs treasury service management department is always fully equipped with modern machinery and equipment such as: money transport vehicles, fire prevention tools, money counters, money detectors, magnifying glasses, etc. to ensure absolute safety in treasury operations, immediately identifying real and fake money and other risks that may affect people and assets of the bank and customers. In addition, implementing regulation 2480/QC dated October 28, 2008 between the State Bank of Tien Giang province and the Provincial Police on coordination in the fight against counterfeit money, in the 3-year review of implementation, BIDV Tien Giang discovered, seized and submitted to the State Bank of Tien Giang province 475 banknotes of various denominations and was commended by the Provincial Police and the State Bank of Tien Giang province [17].
Chart 2.4. Net income from treasury services in the period 2011-2015
Unit: Million VND
350
300
250
200
150
100
50
0
105 122
309 289 279
2011 2012 2013 2014 2015
Net income from treasury services
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
However, as shown in Figure 2.4, income from treasury operations is not high and fluctuates. Specifically, in the period 2011-2013, net income increased and increased most sharply in 2013, then in the period 2013-2015, there was a downward trend. This fluctuation is due to the fact that fees collected from treasury services are often very low and can even be waived to attract customers to use other services.
2.2.1.3. Guarantee and trade finance services:
BIDV Tien Giang, thanks to the advantages of the province and the favorable location of the Branch, has continuously focused on developing income from guarantee services and trade finance.
Chart 2.5. Net income from guarantee and trade finance services in the period 2011-2015
Unit: Million VND
14000
12000
10000
8000
6000
4000
2000
0
5193 5695
2742 3420
8889
3992
11604 12206
5143 5312
2011 2012 2013 2014 2015
Net income from guarantee services Net income from Trade Finance
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
Through chart 2.5, we can see that BIDV Tien Giangs income from guarantee services and trade finance has grown over the years. The reason is: Among BIDV Tien Giangs corporate customers, the construction industry is the industry with the highest proportion of customers after the trading industry, this is a group of customers with potential to develop guarantee services. The second group of customers is corporate customers in the fields of agricultural production, livestock and seafood processing with high import and export turnover in the area.
are the target of trade finance development. In addition, BIDV Tien Giang also focuses on continuously developing these customer groups to increase revenue for many other products and services in the future.
2.2.1.4. Card and POS services:
As a service that BIDV Tien Giang has recently developed strongly, it can be said that this is a very potential market and has the ability to develop even more strongly in the future. Card services with outstanding advantages such as fast payment time, wide payment range, quite safe, effective and suitable for the integration trend and the Project to promote non-cash payments in Vietnam. Cards have become a modern and popular payment tool. BIDV Tien Giang early identified that developing card services is to expand the market to people in society, create capital mobilized from card-opened accounts, contribute to diversifying banking activities, enhance the image of the bank, bring the BIDV Tien Giang brand to people as quickly and easily as possible. BIDV Tien Giang is currently providing card types such as: credit cards (BIDV MasterCard Platinum, BIDV Visa Gold Precious, BIDV Visa Manchester United, BIDV Visa Classic), international debit cards (BIDV Ready Card, BIDV Manu Debit Card), domestic debit cards (BIDV Harmony Card, BIDV eTrans Card, BIDV Moving Card, BIDV-Lingo Co-branded Card, BIDV-Co.opmart Co-branded Card). These cards can be paid via POS/EDC or on the ATM system. In addition, with debit cards, customers can not only withdraw money via ATMs but also perform utilities such as mobile top-up, online payment, money transfer,... through electronic banking services.
In order to attract customers with card services, BIDV Tien Giang has continuously increased the installation of ATMs. As of December 31, 2015, BIDV Tien Giang has 23 ATMs combined with 7 ATMs in the same system of BIDV My Tho, so the number of ATMs is quite large, especially in the center of My Tho City, but is not yet fully present in the districts. Basic services on ATMs such as withdrawing money, checking balances, printing short statements,... BIDV ATMs accept cards from banks in the system.
Banknetvn and Smartlink, cards branded by international card organizations Union Pay (CUP), VISA, MasterCard and cards of banks in the Asian Payment Network. From here, cardholders can make bill payments for themselves or others at ATMs, by simply entering the subscriber number or customer code, booking code that service providers notify and make bill payments.
Chart 2.6. Net income from card services in the period 2011-2015
Unit: Million VND
3500
3000
2500
2000
1500
1000
500
0
687
1023
1547
2267
3104
2011 2012 2013 2014 2015
Net income from card services
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
Through chart 2.6, it can be seen that BIDV Tien Giangs card service income is constantly growing because the Branch focuses on developing businesses operating in industrial parks, which are the source of customers for salary payment products, ATMs, BSMS. Specifically, there are companies such as Freeview, Quang Viet, Dai Thanh, which are businesses with a large number of card openings at the Branch, contributing to the increase in card service fees [25].
Table 2.6. Number of ATMs and POS machines in 2015 of some banks in Tien Giang area.
Unit: Machine
STT
Bank name
Number of ATMs
Cumulative number of ATM cards
POS machine
1
BIDV Tien Giang
23
97,095
22
2
BIDV My Tho
7
21,325
0
3
Agribank Tien Giang
29
115,743
77
4
Vietinbank Tien Giang
16
100,052
54
5
Dong A Tien Giang
26
97,536
11
6
Sacombank Tien Giang
24
88,513
27
7
Vietcombank Tien Giang
15
61,607
96
8
Vietinbank - Tay Tien Giang Branch
6
46,042
38
(Source: 2015 Banking Activity Data Report of the General and Internal Control Department of the Provincial State Bank [21])
Through table 2.6, the author finds that the number of ATMs of BIDV Tien Giang is not much, ranking fourth after Agribank Tien Giang, Dong A Tien Giang, Sacombank Tien Giang. The number of POS machines of BIDV Tien Giang is very small, only higher than Dong A Tien Giang and BIDV My Tho in the initial stages of merging the BIDV system. Besides, BIDV Tien Giang has a high number of cards increasing over the years (table 2.7) but the cumulative number of cards issued up to December 31, 2015 is still relatively low compared to Agribank, Vietcombank, Dong A (table 2.6).
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div.maincontent .s40 { color: black; font-family:Times New Roman, serif; font-style: normal; fo](https://tailieuthamkhao.com/uploads/2022/06/06/dich-vu-phi-tin-dung-tai-ngan-hang-thuong-mai-co-phan-dau-tu-va-phat-8-1-120x90.png)
Pre-tax Profit of Bidv Tien Giang in the Period 2011-2015
zt2i3t4l5ee
zt2a3gsnon-credit services, joint stock commercial bank
zt2a3ge
zc2o3n4t5e6n7ts
At that time, the Branch had to set aside a provision for credit risks, which reduced the Branch's income.
Chart 2.2. Pre-tax profit of BIDV Tien Giang in the period 2011-2015
Unit: Billion VND
140
120
100
80
60
40
20
0
63.3
80.34
89.29
110.08
131.99
2011 2012 2013 2014 2015
Profit before tax
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
However, through chart 2.2, it can be seen that BIDV Tien Giang's profit is still increasing continuously, and its operating efficiency is currently leaking. This is a contribution of non-credit services, and this service segment will be increasingly focused on growth by BIDV Tien Giang to ensure the highest profit safety because credit activities have many potential risks. At the same time, focusing on developing non-credit services is consistent with one of the contents of restructuring the financial activities of credit institutions in the project "Restructuring the system of credit institutions in the period 2011-2015" approved by the Prime Minister in Decision No. 254/QD-TTg dated March 1, 2012 [14]: "Gradually shifting the business model of commercial banks towards reducing dependence on credit activities and increasing income from non-credit services".
2.2. Current status of non-credit service development at BIDV Tien Giang.
2.2.1. BIDV Tien Giang has deployed the development of non-credit services in recent times.
Along with the development of the Head Office, BIDV Tien Giang's products and services are constantly improved and deployed in a diverse manner to ensure provision for many different customer groups in the area: individual customers, corporate customers, and financial institutions. Typical services are as follows: Payment services, treasury services, guarantee services, card services, trade finance, other services: Western Union, insurance commissions, consulting services, foreign exchange derivatives trading, e-banking services,...
2.2.1.1. Payment services:
In accordance with the Prime Minister's Project to promote non-cash payments in Vietnam [15], banks in Tien Giang province have continuously developed payment services to reduce customers' cash usage habits through card services and electronic banking services such as: salary payment through accounts, focusing on developing card acceptance points, developing multi-purpose cards, paying social insurance by transfer, paying bills through banks, etc.
Chart 2.3. Net income from payment services in the period 2011-2015
Unit: Million VND
6000
5000
4000
3000
2000
1000
0
3922 4065
4720 5084 5324
2011 2012 2013 2014 2015
Net income from payment services
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
Along with the technological development of the entire system, BIDV Tien Giang has a payment system with a fairly stable transaction processing speed, bringing many conveniences to customers. The results of observing chart 2.3 show that the income from payment services that the Branch has achieved has grown over the years but the speed is not high and the products are not outstanding compared to other banks. Domestic payment products such as: Online bill payment, electricity bills, water bills, insurance premiums, cable TV bills, telecommunications fees, airline tickets, etc. bring many conveniences to customers. Regarding international payment, this is an indispensable activity for foreign economic activities, BIDV Tien Giang is providing international payment methods for small enterprises producing agriculture, aquatic food and seafood that have credit relationships with banks in industrial parks in Tien Giang province such as: money transfer, collection, L/C payment.
2.2.1.2. Treasury services:
BIDV Tien Giang always focuses on ensuring treasury safety and currency security, always complies with legal regulations, and minimizes risks in operations such as: counting and collecting money from customers, receiving and delivering internal transactions, collecting from the State Bank (SBV) or other credit institutions, receiving ATM funds, bundling money, etc. BIDV Tien Giang's treasury service management department is always fully equipped with modern machinery and equipment such as: money transport vehicles, fire prevention tools, money counters, money detectors, magnifying glasses, etc. to ensure absolute safety in treasury operations, immediately identifying real and fake money and other risks that may affect people and assets of the bank and customers. In addition, implementing regulation 2480/QC dated October 28, 2008 between the State Bank of Tien Giang province and the Provincial Police on coordination in the fight against counterfeit money, in the 3-year review of implementation, BIDV Tien Giang discovered, seized and submitted to the State Bank of Tien Giang province 475 banknotes of various denominations and was commended by the Provincial Police and the State Bank of Tien Giang province [17].
Chart 2.4. Net income from treasury services in the period 2011-2015
Unit: Million VND
350
300
250
200
150
100
50
0
105 122
309 289 279
2011 2012 2013 2014 2015
Net income from treasury services
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
However, as shown in Figure 2.4, income from treasury operations is not high and fluctuates. Specifically, in the period 2011-2013, net income increased and increased most sharply in 2013, then in the period 2013-2015, there was a downward trend. This fluctuation is due to the fact that fees collected from treasury services are often very low and can even be waived to attract customers to use other services.
2.2.1.3. Guarantee and trade finance services:
BIDV Tien Giang, thanks to the advantages of the province and the favorable location of the Branch, has continuously focused on developing income from guarantee services and trade finance.
Chart 2.5. Net income from guarantee and trade finance services in the period 2011-2015
Unit: Million VND
14000
12000
10000
8000
6000
4000
2000
0
5193 5695
2742 3420
8889
3992
11604 12206
5143 5312
2011 2012 2013 2014 2015
Net income from guarantee services Net income from Trade Finance
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
Through chart 2.5, we can see that BIDV Tien Giang's income from guarantee services and trade finance has grown over the years. The reason is: Among BIDV Tien Giang's corporate customers, the construction industry is the industry with the highest proportion of customers after the trading industry, this is a group of customers with potential to develop guarantee services. The second group of customers is corporate customers in the fields of agricultural production, livestock and seafood processing with high import and export turnover in the area.
are the target of trade finance development. In addition, BIDV Tien Giang also focuses on continuously developing these customer groups to increase revenue for many other products and services in the future.
2.2.1.4. Card and POS services:
As a service that BIDV Tien Giang has recently developed strongly, it can be said that this is a very potential market and has the ability to develop even more strongly in the future. Card services with outstanding advantages such as fast payment time, wide payment range, quite safe, effective and suitable for the integration trend and the Project to promote non-cash payments in Vietnam. Cards have become a modern and popular payment tool. BIDV Tien Giang early identified that developing card services is to expand the market to people in society, create capital mobilized from card-opened accounts, contribute to diversifying banking activities, enhance the image of the bank, bring the BIDV Tien Giang brand to people as quickly and easily as possible. BIDV Tien Giang is currently providing card types such as: credit cards (BIDV MasterCard Platinum, BIDV Visa Gold Precious, BIDV Visa Manchester United, BIDV Visa Classic), international debit cards (BIDV Ready Card, BIDV Manu Debit Card), domestic debit cards (BIDV Harmony Card, BIDV eTrans Card, BIDV Moving Card, BIDV-Lingo Co-branded Card, BIDV-Co.opmart Co-branded Card). These cards can be paid via POS/EDC or on the ATM system. In addition, with debit cards, customers can not only withdraw money via ATMs but also perform utilities such as mobile top-up, online payment, money transfer,... through electronic banking services.
In order to attract customers with card services, BIDV Tien Giang has continuously increased the installation of ATMs. As of December 31, 2015, BIDV Tien Giang has 23 ATMs combined with 7 ATMs in the same system of BIDV My Tho, so the number of ATMs is quite large, especially in the center of My Tho City, but is not yet fully present in the districts. Basic services on ATMs such as withdrawing money, checking balances, printing short statements,... BIDV ATMs accept cards from banks in the system.
Banknetvn and Smartlink, cards branded by international card organizations Union Pay (CUP), VISA, MasterCard and cards of banks in the Asian Payment Network. From here, cardholders can make bill payments for themselves or others at ATMs, by simply entering the subscriber number or customer code, booking code that service providers notify and make bill payments.
Chart 2.6. Net income from card services in the period 2011-2015
Unit: Million VND
3500
3000
2500
2000
1500
1000
500
0
687
1023
1547
2267
3104
2011 2012 2013 2014 2015
Net income from card services
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
Through chart 2.6, it can be seen that BIDV Tien Giang's card service income is constantly growing because the Branch focuses on developing businesses operating in industrial parks, which are the source of customers for salary payment products, ATMs, BSMS. Specifically, there are companies such as Freeview, Quang Viet, Dai Thanh, which are businesses with a large number of card openings at the Branch, contributing to the increase in card service fees [25].
Table 2.6. Number of ATMs and POS machines in 2015 of some banks in Tien Giang area.
Unit: Machine
STT
Bank name
Number of ATMs
Cumulative number of ATM cards
POS machine
1
BIDV Tien Giang
23
97,095
22
2
BIDV My Tho
7
21,325
0
3
Agribank Tien Giang
29
115,743
77
4
Vietinbank Tien Giang
16
100,052
54
5
Dong A Tien Giang
26
97,536
11
6
Sacombank Tien Giang
24
88,513
27
7
Vietcombank Tien Giang
15
61,607
96
8
Vietinbank - Tay Tien Giang Branch
6
46,042
38
(Source: 2015 Banking Activity Data Report of the General and Internal Control Department of the Provincial State Bank [21])
Through table 2.6, the author finds that the number of ATMs of BIDV Tien Giang is not much, ranking fourth after Agribank Tien Giang, Dong A Tien Giang, Sacombank Tien Giang. The number of POS machines of BIDV Tien Giang is very small, only higher than Dong A Tien Giang and BIDV My Tho in the initial stages of merging the BIDV system. Besides, BIDV Tien Giang has a high number of cards increasing over the years (table 2.7) but the cumulative number of cards issued up to December 31, 2015 is still relatively low compared to Agribank, Vietcombank, Dong A (table 2.6).
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Suitable waste business management model for Vietnam - 13
Source: Author compiled from data analysis
The results of exploratory factor analysis with observed variables of households that have not used black credit have good results. First, the KMO coefficient = 0.894 > 0.5 shows that factor analysis is suitable for the research data. Next, the Bartlett test is 5675.71 with a significance level of Sig. = 0.000 < 0.05, meaning that the hypothesis that the observed variables are not correlated with each other in the population can be rejected. Therefore, the hypothesis that the factor model is inappropriate will be rejected, which proves that the data used for analysis is completely suitable. The value of the total variance extracted for the 6th factor is 64.9% > 50% and the convergence coefficient of eigenvalues of this factor is 1.2 > 1, showing that the observed variables begin to converge at 6 factors, these factors explain 64.9% of the variation in the survey data. Therefore, the factors ensure the ability to represent the original survey data.
Similarly, for the dependent variable, with the KMO test coefficient = 0.758, Sig = 0.000, the extracted variance reached 90.43%, showing the ability to converge and represent well the observed variables in the scale.
Thus, after testing the reliability and value, the scales that do not meet the needs are eliminated and the remaining selected scales have been tested to ensure the requirements. Thus, the research model will be adjusted as follows:
3.3.2.3. Confirmatory factor analysis CFA
Table 3.10. Summary of the first CFA analysis results
Scale
Composite Reliability | Average Variance Extracted | The indicators | |
Social impact | 0.831 | 0.482 | Square/df=2.435 <3 |
Security | 0.88 | 0.647 | GFI=0.905>0.9 |
CFI=0.942>0.9 | |||
Intended use | 0.948 | 0.858 | |
TLI=0.932>0.9 | |||
Expected Effort | 0.786 | 0.486 | |
RMSEA=0.051 | |||
Expected performance | 0.745 | 0.424 | |
Financial literacy | 0.792 | 0.562 | |
Convenient | 0.581 | 0.322 |
Source: Author compiled from data analysis
After assessing the reliability of the scale and analyzing the EFA exploratory factor, the factors on the intention to use black credit all have high convergence, well representing the observed variables, the next step will continue to analyze the CFA confirmatory factor to confirm the value, reliability and discrimination of the scale. The author uses AMOS 20 software to analyze the CFA confirmatory factor. To see the analysis results clearly, the author has synthesized the results of the first CFA analysis for the scale.
Looking at the table above, we see that some AVEs of the independent variables are less than 0.5, so we need to remove some observed variables to improve this index. Specifically, after analyzing and re-running CFA, the author concluded to remove 2 independent factor variables, expected performance and convenience, from the scale. Along with that are 2 observed variables, NL1 and AH5, to improve the total variance extracted.
The results of the second CFA analysis of the model's suitability indicators show that the Chi-quare/df value = 2.201 < 3, TLI = 0.967, CFI = 0.974, GFI = 0.948 are all greater than 0.9, the RMSEA coefficient = 0.046 <0.05, so the model is suitable for the market. In addition, all AVE values > 0.5, the value of the composite reliability > 0.7, the reliability of the scale is guaranteed, the discrimination is guaranteed AVE > MSV. The P-value coefficient of the observed variables representing the factors is < 0.5, these observed variables are capable of representing the factors well in the CFA model. From there, it can be affirmed that the scale achieves convergent value and unidimensionality. Thus, the research scales for individual business households accessing informal credit have ensured the analytical requirements.
Table 3.11. Summary of the results of the second CFA analysis
Scale
Composite Reliability | Average Variance Extracted ) | MSV | The indicators | |
Social impact | 0.831 | 0.524 | 0.441 | Chisquare/df=2.201 |
<3 | ||||
Security | 0.88 | 0.647 | 0.135 | |
GFI=0.948>0.9 | ||||
Intended use | 0.948 | 0.858 | 0.441 | |
CFI=0.974>0.9 | ||||
Expected Effort | 0.786 | 0.524 | 0.25 | |
TLI=0.967>0.9 | ||||
Financial literacy | 0.792 | 0.562 | 0.242 | RMSEA=0.046<0.5 |
Source: Author compiled from data analysis
The correlation coefficients between the components and the standard deviations of the scales are all different from 1 at the 95% confidence level, reaching statistical significance (all P-values are 0). Financial literacy and Expected effort both have discriminant values with correlations between the components of the scale.
Table 3.12. Testing the correlation of variables in the informal credit access model
Correlate
Estimate (Estimate) | SE | CR | P- value | |||
SOCIETY | <--> | BAOMAT | .430 | .044 | 9,772 | *** |
SOCIETY | <--> | YDINH | .522 | .047 | 11,201 | *** |
SOCIETY | <--> | NOLUC | .285 | .034 | 8,271 | *** |
SOCIETY | <--> | HIEUBIET | .269 | .039 | 6,928 | *** |
BAOMAT | <--> | YDINH | .336 | .045 | 7,442 | *** |
BAOMAT | <--> | NOLUC | .237 | .036 | 6.632 | *** |
BAOMAT | <--> | HIEUBIET | .261 | .042 | 6,197 | *** |
YDINH | <--> | NOLUC | .184 | .036 | 5.167 | *** |
YDINH | <--> | HIEUBIET | .257 | .043 | 5,963 | *** |
NOLUC | <--> | HIEUBIET | .308 | .037 | 8,324 | *** |
Source: Author's synthesis and data analysis
The results of the correlation test of the components of the intention to use scale above show that after CFA analysis, the household intention to use informal credit scale consists of 4 independent variables (Expected Effort, Social Influence, Security and Financial Knowledge) with 18 observed variables and a dependent variable (Intention to Use) with 3 observed variables. The CFA results show that the components of the scale all achieve structural validity including: convergent validity, discriminant validity, similarity validity with correlation and meet the validity requirements.
3.3.2.4. SEM structural model factor analysis
Testing the relationship between factors in the structural model
The relationship model between factors in the structural model of informal credit access of individual business households is shown in Table 3.12.