MINISTRY OF EDUCATION AND TRAINING
HO CHI MINH CITY UNIVERSITY OF ECONOMICS
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NGUYEN THI THAO
The impact of perceived risk factors on customers' intention to use online banking services in Ho Chi Minh City.
MASTER'S THESIS IN ECONOMICS
Major: BUSINESS ADMINISTRATION Code: 60340102
Scientific supervisor: Dr. BUI THI THANH
Ho Chi Minh City – 2014
COMMITMENT
The author hereby declares that the thesis “The impact of perceived risk factors on the intention to accept using online banking services of customers in Ho Chi Minh City” is the author’s own research work. The data is collected and used honestly. The research results presented in this thesis are not copied from any previous thesis or research work.
Best regards!
Ho Chi Minh City, June 2014 Author
Nguyen Thi Thao
INDEX
Page
Cover Page Pledge Table of Contents
List of tables List of images Thesis summary Chapter 1: Overview
1.1 Background and reasons for choosing the topic 1
1.2 Research objectives 5
1.3 Research methods 6
1.4 Research object and scope 6
1.5 Thesis structure 6
1.6 Significance of the study 7
Chapter 2: Theoretical basis and research model
2.1 Some concepts 8
2.1.1 Perceived risk 8
2.1.2 Online banking services 9
2.2 Related Theories of Behavioral Intention 11
2.2.1 Theory of reasoned action TRA (Ajzen & Fishbein, 1975 11
2.2.2 Theory of Planned Behavior TPB (Theory of Planned Behavior, Ajzen, 1991) 12
2.2.3 Technology Acceptance Model (TAM, Davis et al., 1989) 13
2.2.4 Unified Model of Acceptance and Use of Technology (UTAUT) (Venkatesh et al., 2003) 14
2.2.5 Perceived risk theory (Bauer, 1960) 15
2.3 Previous related studies 17
2.3.1 Research on “Perceived risk affects Chinese customers' intention to adopt online banking services” (Ania
Lifen Zhao et al., 2008) 17
2.3.2 Research on “The impact of perceived risk on acceptance intention”
online banking services” (Fereshteh Farzianpour et al., 2013) 19
2.3.3Research on “The impact of perceived risk factors on the intention to adopt online banking services in Iran (Payam
Hanafizadeh, Hamid Reza Khedmatgozar, 2012)” 21
2.4 Proposed research model 24
2.4.1 Characteristics of customers who intend to accept using banking services
online shopping in Vietnam 24
2.4.2 Research model "The impact of perceived risk factors on customers' intention to use online banking services"
Ho Chi Minh City”. 26
Chapter 3: Research Design
3.1 Research process 33
3.2 Qualitative research 33
3.2.1 Research design 33
3.2.2 Qualitative research results 34
3.3 Quantitative research 39
3.3.1 Research sample design 40
3.3.2 Questionnaire design 40
3.3.3 Collecting research sample information 40
3.3.4 Data analysis methods 41
3.3.4.1 Preliminary assessment of the scale 41
3.3.4.2 Multiple linear regression analysis 41
Chapter 4: Analysis of research results.
4.1 Descriptive statistical analysis 44
4.2 Cronbach's Alpha 45 Assessment
4.2.1 Performance risk scale 45
4.2.2 Security Risk Scale 46
4.2.3 Financial risk scale 47
4.2.4 Personal information risk scale 48
4.2.5 Social risk scale 48
4.2.6Time Risk Scale 49
4.2.7 Scale of intention to adopt online banking 49
4.3 EFA 50 factor analysis
4.3.1 Independent variable 50
4.3.2 Dependent variable 52
4.4 Regression Analysis 53
4.4.1 Correlation analysis 53
4.4.2 Regression analysis results 54
4.4.3 Checking linear regression assumptions 56
4.5 Testing for differences in qualitative variables 60
4.5.1 Testing the intention to accept using online banking services
by gender 60
4.5.2 Testing the intention to accept using online banking services
by age group 61
4.5.3 Testing the intention to accept using online banking services
by education level 62
4.5.4 Testing the intention to accept using online banking services
by income 63
4.6 Chapter 4 Summary 64
Chapter 5: Conclusion and recommendations
5.1 Conclusion 64
5.2 Recommendation 65
5.3 Limitations of the topic and future research directions 67
References
Appendix 1: Outline for group discussion
Appendix 2: Quantitative research questionnaire Appendix 3: Qualitative variable testing results
Table 4.1. Statistics of the research sample according to customers' personal characteristics... 44 Table 4.2. Cronbach's alpha analysis of the performance risk scale 45
Table 4.3. Cronbach's alpha analysis of the performance risk scale after elimination
HN2 46 variable
Table 4.4. Cronbach's alpha analysis of security risk scale 47
Table 4.5. Cronbach's alpha analysis of the security risk scale after removing variable BM1 47
Table 4.6. Cronbach's alpha analysis of financial risk scale 47
Table 4.7. Cronbach alpha analysis of personal information risk scale 48
Table 4.8. Cronbach alpha analysis of social risk scale 48
Table 4.9. Cronbach's alpha analysis of the time risk scale 49
Table 4.10. Cronbach's alpha analysis of the acceptance intention scale
online banking 49
Table 4.11. Results of KMO and Bartlett tests for independent variables 50
Table 4.12 Factor rotation matrix 51
Table 4.13. Results of KMO and Bartlett tests for dependent variables 52
Table 4.14 Total variance extracted for dependent variable 52
Table 4.15 Factor Matrix 53
Table 4.16Correlation analysis 53
Table 4.17 Model fit assessment table according to R2 54
Table 4.18 ANOVA test results table 55
Table 4.19Regression analysis results 55
Table 4.20Table of model suitability assessment according to R2 after removing variables
time 56
Table 4.21 Independent Samples Test 60 analysis results
Table 4.22Differences in intention to adopt online banking among
male and female 60
Figure 1.1. Ratio of cash in circulation in total means of payment according to the report
e-commerce report 2012 2
Figure 1.2. Number of banks implementing Internet Banking according to trade reports
e-commerce 2012 2
Figure 2.1. Theory of Reasoned Action (TRA) 12
Figure 2.2. Theory of Planned Behavior (TPB) 13
Figure 2.3. Technology acceptance model TAM 14
Figure 2.4. Unified model of acceptance and use of technology (UTAUT) ... 15 Figure 2.5. Theory of perceived risk (TPR) 16
Figure 2.6: Model of “Perceived risk affecting intention to use”
Chinese customers' online banking services” 19
Figure 2.7: Model “The impact of perceived risk on intention to use online banking services” 21
Figure 2.8: Model of “The influence of perceived risk factors on intention”
accept the use of online banking services in Iran” 24
Figure 2.9: Proposed research model 31
Figure 3.1: Research process diagram 33
Table 4.1 Scatterplot of standardized residuals 57
Figure 4.2 Histogram 58
Figure 4.3 P-Plot 59