IDEAS home Printed from https://ideas.repec.org/a/ers/ijebaa/vviiiy2020i2p443-456.html
   My bibliography  Save this article

Perceived Value of Green Residence: The Role of Perceived Newness and Perceived Relative Advantage

Author

Listed:
  • Setyo Ferry Wibowo
  • Gatot Nazir Ahmad
  • Solekhah

Abstract

Purpose: This study develops an extension of the perceived value model by incorporating perceived product innovativeness. In this study, perceived innovativeness is conceptualized into two constructs: perceived newness and relative advantage. It examines whether these two constructs have an impact on both perceived value and purchase intention. The study also explores the effect of perceived price on perceived value and purchase intention. Design/Approach/Methodology: To test our hypotheses, 498 participants responded to a questionnaire. Structural equation modelling was employed to evaluate the proposed research model. Findings: The results demonstrate that (a) perceived newness plays an important role, having a positive indirect effect on purchase intention through perceived value; (b) perceived price also has a positive effect on perceived value and purchase intention; (c) there is no empirical evidence for the effect of relative advantage on perceived value and purchase intention. Practical implication: Regards to the significant role of perceived newness and perceived price in determining perceived value and purchase intention of green residences, reducing consumers’ uncertainty about the benefits offered by innovative products is a crucial task. Originality/Value: While perceived innovativeness is generally regarded as a critical driver of purchase intention, current studies have paid little attention to the relation between associated benefits and consumers’ perceived value. This is the first of the studies that examine the effect of perceived newness and relative advantage on perceived value and purchase intention in the context of green residences.

Suggested Citation

  • Setyo Ferry Wibowo & Gatot Nazir Ahmad & Solekhah, 2020. "Perceived Value of Green Residence: The Role of Perceived Newness and Perceived Relative Advantage," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 443-456.
    • Handle: RePEc:ers:ijebaa:v:viii:y:2020:i:2:p:443-456
    as

    Download full text from publisher

    File URL: https://www.ijeba.com/journal/474/download
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Deng, Yongheng & Li, Zhiliang & Quigley, John M., 2012. "Economic returns to energy-efficient investments in the housing market: Evidence from Singapore," Regional Science and Urban Economics, Elsevier, vol. 42(3), pages 506-515.
    2. Ritu Agarwal & Jayesh Prasad, 1998. "A Conceptual and Operational Definition of Personal Innovativeness in the Domain of Information Technology," Information Systems Research, INFORMS, vol. 9(2), pages 204-215, June.
    3. Yadav, Rambalak & Pathak, Govind S., 2017. "Determinants of Consumers' Green Purchase Behavior in a Developing Nation: Applying and Extending the Theory of Planned Behavior," Ecological Economics, Elsevier, vol. 134(C), pages 114-122.
    4. Klanac, Nataša Golik, 2013. "An integrated approach to customer value: A comprehensive-practical approach," jbm - Journal of Business Market Management, Free University Berlin, Marketing Department, vol. 6(1), pages 22-37.
    5. Chung Chay Yoke & Yeong Wai Mun & Low Mei Peng & Ung Leng Yean, 2018. "Purchase Intention of Residential Property in Greater Kuala Lumpur, Malaysia," International Journal of Asian Social Science, Asian Economic and Social Society, vol. 8(8), pages 580-590, August.
    6. Wee-Lee Tan & Yen-Nee Goh, 2018. "The role of psychological factors in influencing consumer purchase intention towards green residential building," International Journal of Housing Markets and Analysis, Emerald Group Publishing Limited, vol. 11(5), pages 788-807, October.
    7. Chung Chay Yoke & Yeong Wai Mun & Low Mei Peng & Ung Leng Yean, 2018. "Purchase Intention of Residential Property in Greater Kuala Lumpur, Malaysia," International Journal of Asian Social Science, Asian Economic and Social Society, vol. 8(8), pages 580-590.
    8. Gary C. Moore & Izak Benbasat, 1991. "Development of an Instrument to Measure the Perceptions of Adopting an Information Technology Innovation," Information Systems Research, INFORMS, vol. 2(3), pages 192-222, September.
    9. Berndt Lundgren, 2013. "Customer-perceived Value in Residential Developments: the Case of Hornsberg Strand, Sweden," International Real Estate Review, Global Social Science Institute, vol. 16(1), pages 1-27.
    10. Bonsón Ponte, Enrique & Carvajal-Trujillo, Elena & Escobar-Rodríguez, Tomás, 2015. "Influence of trust and perceived value on the intention to purchase travel online: Integrating the effects of assurance on trust antecedents," Tourism Management, Elsevier, vol. 47(C), pages 286-302.
    11. Truong, Yann, 2013. "A cross-country study of consumer innovativeness and technological service innovation," Journal of Retailing and Consumer Services, Elsevier, vol. 20(1), pages 130-137.
    12. Nicky J. Welton & Howard H. Z. Thom, 2015. "Value of Information," Medical Decision Making, , vol. 35(5), pages 564-566, July.
    13. Shwu-Ing Wu & Hui-Ling Chang, 2016. "The Model of Relationship between the Perceived Values and the Purchase Behaviors toward Innovative Products," Journal of Management and Strategy, Journal of Management and Strategy, Sciedu Press, vol. 7(2), pages 31-45, May.
    14. You Kyung Lee, 2017. "A Comparative Study of Green Purchase Intention between Korean and Chinese Consumers: The Moderating Role of Collectivism," Sustainability, MDPI, vol. 9(10), pages 1-17, October.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sara Moussawi & Marios Koufaris & Raquel Benbunan-Fich, 2021. "How perceptions of intelligence and anthropomorphism affect adoption of personal intelligent agents," Electronic Markets, Springer;IIM University of St. Gallen, vol. 31(2), pages 343-364, June.
    2. Md Golam Rabiul Alam & Abdul Kadar Muhammad Masum & Loo-See Beh & Choong Seon Hong, 2016. "Critical Factors Influencing Decision to Adopt Human Resource Information System (HRIS) in Hospitals," PLOS ONE, Public Library of Science, vol. 11(8), pages 1-22, August.
    3. Gansser, Oliver Alexander & Reich, Christina Stefanie, 2021. "A new acceptance model for artificial intelligence with extensions to UTAUT2: An empirical study in three segments of application," Technology in Society, Elsevier, vol. 65(C).
    4. Adamantia Pateli & Naoum Mylonas & Aggeliki Spyrou, 2020. "Organizational Adoption of Social Media in the Hospitality Industry: An Integrated Approach Based on DIT and TOE Frameworks," Sustainability, MDPI, vol. 12(17), pages 1-20, September.
    5. Natarajan, Thamaraiselvan & Balasubramanian, Senthil Arasu & Kasilingam, Dharun Lingam, 2017. "Understanding the intention to use mobile shopping applications and its influence on price sensitivity," Journal of Retailing and Consumer Services, Elsevier, vol. 37(C), pages 8-22.
    6. Gao, Tao (Tony) & Rohm, Andrew J. & Sultan, Fareena & Pagani, Margherita, 2013. "Consumers un-tethered: A three-market empirical study of consumers' mobile marketing acceptance," Journal of Business Research, Elsevier, vol. 66(12), pages 2536-2544.
    7. Chi, Maomao & Wang, Weijun & Lu, Xinyuan & George, Joey F., 2018. "Antecedents and outcomes of collaborative innovation capabilities on the platform collaboration environment," International Journal of Information Management, Elsevier, vol. 43(C), pages 273-283.
    8. Bang-Ning Hwang & Chi-Yo Huang & Chih-Hsiung Wu, 2016. "A TOE Approach to Establish a Green Supply Chain Adoption Decision Model in the Semiconductor Industry," Sustainability, MDPI, vol. 8(2), pages 1-30, February.
    9. Dading Jatimoy & Fatchur Rohman & Atim Djazuli, 2021. "The effect of perceived ease of use on continuance intention through perceived usefulness and trust: A study on Klikindomaret service users in Malang City," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 10(4), pages 430-437, June.
    10. Wen-Way Yu & Chin-Yi Fang, 2023. "The Role of Near-Field Communication Mobile Payments in Sustainable Restaurant Operations: A Restaurateur’s Perspective," Sustainability, MDPI, vol. 15(16), pages 1-18, August.
    11. Saghafi, Fatemeh & Noorzad Moghaddam, Ehsan & Aslani, Alireza, 2017. "Examining effective factors in initial acceptance of high-tech localized technologies: Xamin, Iranian localized operating system," Technological Forecasting and Social Change, Elsevier, vol. 122(C), pages 275-288.
    12. Kim, Jiyeon & Forsythe, Sandra, 2008. "Adoption of Virtual Try-on technology for online apparel shopping," Journal of Interactive Marketing, Elsevier, vol. 22(2), pages 45-59.
    13. Iviane Ramos-de-Luna & Francisco Montoro-Ríos & Francisco Liébana-Cabanillas, 2016. "Determinants of the intention to use NFC technology as a payment system: an acceptance model approach," Information Systems and e-Business Management, Springer, vol. 14(2), pages 293-314, May.
    14. Ellen Van Droogenbroeck & Léon Van Hove, 2021. "Adoption and usage of E-grocery shopping: A context-specific UTAUT2 model," ULB Institutional Repository 2013/324918, ULB -- Universite Libre de Bruxelles.
    15. Muhammad Riaz & Sherani, 2021. "Investigation of information sharing via multiple social media platforms: a comparison of Facebook and WeChat adoption," Quality & Quantity: International Journal of Methodology, Springer, vol. 55(5), pages 1751-1773, October.
    16. repec:dau:papers:123456789/13000 is not listed on IDEAS
    17. Jui-Che Tu & Chi-Ling Hu, 2018. "A Study on the Factors Affecting Consumers’ Willingness to Accept Clothing Rentals," Sustainability, MDPI, vol. 10(11), pages 1-30, November.
    18. Christopher R. Plouffe & John S. Hulland & Mark Vandenbosch, 2001. "Research Report: Richness Versus Parsimony in Modeling Technology Adoption Decisions—Understanding Merchant Adoption of a Smart Card-Based Payment System," Information Systems Research, INFORMS, vol. 12(2), pages 208-222, June.
    19. Spanjers, R., 2012. "Be patient : A longitudinal study on adoption and diffusion of information technology innovation in Dutch healthcare," Other publications TiSEM 594c1680-fb6d-4396-aaf6-e, Tilburg University, School of Economics and Management.
    20. Escobar-Rodríguez, T. & Carvajal-Trujillo, E., 2014. "Online purchasing tickets for low cost carriers: An application of the unified theory of acceptance and use of technology (UTAUT) model," Tourism Management, Elsevier, vol. 43(C), pages 70-88.
    21. repec:dau:papers:123456789/13613 is not listed on IDEAS
    22. Elodie Attié & Lars Meyer-Waarden, 2022. "The acceptance and usage of smart connected objects according to adoption stages: an enhanced technology acceptance model integrating the diffusion of innovation, uses and gratification and privacy ca," Post-Print hal-04065165, HAL.

    More about this item

    Keywords

    Perceived newness; relative advantage; green innovation; green residence; perceived price; green perceived value; purchase intention.;
    All these keywords.

    JEL classification:

    • M3 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ers:ijebaa:v:viii:y:2020:i:2:p:443-456. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Marios Agiomavritis (email available below). General contact details of provider: https://ijeba.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.