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Strategic online-banking adoption

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Author Info
Roberto Fuentes
Rubén Hernández-Murillo
Gerard Llobet

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Abstract

In this paper we study the determinants of banks’ decision to adopt a transactional website for their customers. Using a panel of commercial banks in the United States for the period 2003-2005, we show that although bank-specific characteristics are important determinants of banks’ adoption decision, competition plays a prominent role. The extent of competition is related to the geographical overlap of banks in different markets and their relative market share in terms of deposits. In more competitive markets banks are more likely to adopt earlier. Even more importantly, banks adopt earlier in markets where their competitors have already adopted.

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Paper provided by Federal Reserve Bank of St. Louis in its series Working Papers with number 2006-058.

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Date of creation: 2007
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Handle: RePEc:fip:fedlwp:2006-058

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Keywords: Internet banking;

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  1. Robert DeYoung, 2001. "The financial performance of pure play Internet banks," Economic Perspectives, Federal Reserve Bank of Chicago, issue Q I, pages 60-78. [Downloadable!]
  2. Zhu Wang, 2006. "Online banking comes of age," TEN, Federal Reserve Bank of Kansas City, issue Win, pages 22-25. [Downloadable!]
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    Other versions:
  4. Joel Waldfogel & Julie Wulf, 2006. "Measuring the Effect of Multimarket Contact on Competition: Evidence from Mergers Following Radio Broadcast Ownership Deregulation," The B.E. Journal of Economic Analysis & Policy, Berkeley Electronic Press, vol. 0(1). [Downloadable!]
  5. Timothy H. Hannan & John M. McDowell, 1984. "The Determinants of Technology Adoption: The Case of the Banking Firm," RAND Journal of Economics, The RAND Corporation, vol. 15(3), pages 328-335, Autumn. [Downloadable!] (restricted)
  6. David Nickerson & Richard J. Sullivan, 2003. "Financial innovation, strategic real options and endogenous competition : theory and an application to Internet banking," Payments System Research Working Paper PSR WP 03-01, Federal Reserve Bank of Kansas City. [Downloadable!]
  7. Richard J. Sullivan & Zhu Wang, 2005. "Internet banking: an exploration in technology diffusion and impact," Payments System Research Working Paper PSR WP 05-05, Federal Reserve Bank of Kansas City. [Downloadable!]
  8. Jenkins, Stephen P, 1995. "Easy Estimation Methods for Discrete-Time Duration Models," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 57(1), pages 129-38, February.
  9. Sharon Oster, 1982. "The Diffusion of Innovation among Steel Firms: The Basic Oxygen Furnace," Bell Journal of Economics, The RAND Corporation, vol. 13(1), pages 45-56, Spring. [Downloadable!] (restricted)
  10. Chang, Yoonhee Tina, 2003. "Dynamics of Banking Technology Adoption: An Application to Internet Banking," Royal Economic Society Annual Conference 2003 41, Royal Economic Society. [Downloadable!]
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  11. Massoud Karshenas & Paul L. Stoneman, 1993. "Rank, Stock, Order, and Epidemic Effects in the Diffusion of New Process Technologies: An Empirical Model," RAND Journal of Economics, The RAND Corporation, vol. 24(4), pages 503-528, Winter. [Downloadable!] (restricted)
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