Dynamics of Banking Technology Adoption: An Application to Internet Banking
AbstractThis paper is concerned with examining behaviour of firms (banks) and consumers (banks' customers) in the event of a new technology (internet banking) introduction. The determinants of consumer adoption of internet banking are characterised using survey data from Korea in both static and dynamic framework. I find evidence that adoption of internet banking is influenced by sex, age, marital status, degree of exposure to internet banking, and the characteristics of the banks. A duration analysis shows no evidence of first mover advantage (order effects) in internet banking whilst the largest bank (rank effects) in commercial banking remains dominant in internet banking. The results imply that the internet banking adoption is dominated by social norm effects.
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Bibliographic InfoPaper provided by Royal Economic Society in its series Royal Economic Society Annual Conference 2003 with number 41.
Date of creation: 04 Jun 2003
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internet banking; technology adoption; first-mover advantage; pre-emption; social norm;
Other versions of this item:
- Chang, Yoonhee Tina, 2003. "Dynamics Of Banking Technology Adoption : An Application To Internet Banking," The Warwick Economics Research Paper Series (TWERPS) 664, University of Warwick, Department of Economics.
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
- L00 - Industrial Organization - - General - - - General
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-06-16 (All new papers)
- NEP-CFN-2003-06-16 (Corporate Finance)
- NEP-INO-2003-06-16 (Innovation)
- NEP-NET-2003-10-05 (Network Economics)
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- Roberto Fuentes & Rubén Hernández-Murillo & Gerard Llobet, 2007.
"Strategic online-banking adoption,"
2006-058, Federal Reserve Bank of St. Louis.
- Byoung-Min Kim & Richard Widdows & Tansel Yilmazer, 2005. "The determinants of consumers’ adoption of Internet banking," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.
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