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Design and validation of an instrument for measuring socio-cultural and demographic factors that impact the adoption of an innovative financial service

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  • Acuña-Muñoz, Oscar Andrés

    (Instituto Tecnológico de Costa Rica, Costa Rica)

Abstract

This article resumes the preparation process of a questionnaire to assess the effect of sociocultural and demographic factors in the adoption of innovative financial services. For design purposes, Fishbein and Ajzen's Theory of Reasoned Action was used as a model for attitude analysis; Everett Rogers' Theory of Diffusion of Innovations, as well as Summative Scales (Likert), served as measurement instruments. To outline the survey instrument, preliminary interviews are applied to a group of 20 people with different sociocultural and demographic characteristics, to guide the search in the literature and investigate the state of the art. After reviewing the scales used in more than 300 empirical investigations, the questionnaire is sent to two preliminary tests to refine the design. Once the data from the previous test have been obtained, the survey is submitted for validation using the Delphi method and the Confirmatory Factor Analysis, using the Structural Equation Model. The reliability and validity indices are calculated. The scale validates the measurement instrument in all levels and can be applied.

Suggested Citation

  • Acuña-Muñoz, Oscar Andrés, 2021. "Design and validation of an instrument for measuring socio-cultural and demographic factors that impact the adoption of an innovative financial service," TEC Empresarial, School of Business, Costa Rica Institute of Technology (ITCR), vol. 15(2), pages 68-98.
    • Handle: RePEc:ris:tecemp:2110
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