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The Effect of Consumers’ Perceived Value on Acceptance of an Internet-Only Bank Service

Author

Listed:
  • Sang Joon Ahn

    (School of Management, Kyung Hee University, Seoul 02447, Korea)

  • Seong Ho Lee

    (Department of Business Administration & Accounting, Hanbat National University, Daejeon 34158, Korea)

Abstract

This study focuses on perceived value, which is not mentioned in previous internet-only bank studies, to analyze the popularity of internet-only banks. It does this by exploring the relationships between the perceived value and usage intention of customers. The purpose of this study is to help us understand customers’ decision making to accept innovative services by finding factors that affect consumer acceptance of internet-only banks. Using multiple regression, this study analyzes data gathered from college students in their 20s who are familiar with IT services and are interested in internet-only banks. The results show that all three components of perceived value (economical value, convenience value, and emotional value) increase usage intention. Convenience value is the most important factor in the acceptance of internet-only banking services. The findings indicate that perceived value is an attractive factor in using internet-only banks and suggest that managing and developing perceived value is an important marketing strategy.

Suggested Citation

  • Sang Joon Ahn & Seong Ho Lee, 2019. "The Effect of Consumers’ Perceived Value on Acceptance of an Internet-Only Bank Service," Sustainability, MDPI, vol. 11(17), pages 1-9, August.
    • Handle: RePEc:gam:jsusta:v:11:y:2019:i:17:p:4599-:d:260532
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    References listed on IDEAS

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    1. Robert DeYoung, 2001. "The financial performance of pure play Internet banks," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 25(Q I), pages 60-78.
    2. Meuter, Matthew L. & Ostrom, Amy L. & Bitner, Mary Jo & Roundtree, Robert, 2003. "The influence of technology anxiety on consumer use and experiences with self-service technologies," Journal of Business Research, Elsevier, vol. 56(11), pages 899-906, November.
    3. Sheth, Jagdish N. & Newman, Bruce I. & Gross, Barbara L., 1991. "Why we buy what we buy: A theory of consumption values," Journal of Business Research, Elsevier, vol. 22(2), pages 159-170, March.
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    Cited by:

    1. Hu, Bo & Liu, Yu-li & Yan, Wenjia, 2021. "Should I scan my face? The influence of perceived value and trust on Chinese users' intention to use facial recognition payment," 23rd ITS Biennial Conference, Online Conference / Gothenburg 2021. Digital societies and industrial transformations: Policies, markets, and technologies in a post-Covid world 238028, International Telecommunications Society (ITS).
    2. Zhijie Song & Chang Liu & Rui Shi, 2022. "How Do Fresh Live Broadcast Impact Consumers’ Purchase Intention? Based on the SOR Theory," Sustainability, MDPI, vol. 14(21), pages 1-16, November.
    3. Muhammad Yaseen Bhutto & Mussadiq Ali Khan & Myriam Ertz & Haowei Sun, 2022. "Investigating the Role of Ethical Self-Identity and Its Effect on Consumption Values and Intentions to Adopt Green Vehicles among Generation Z," Sustainability, MDPI, vol. 14(5), pages 1-18, March.
    4. Cheolho Yoon & Dongsup Lim, 2021. "Customers’ Intentions to Switch to Internet-Only Banks: Perspective of the Push-Pull-Mooring Model," Sustainability, MDPI, vol. 13(14), pages 1-20, July.
    5. Julie Birkenmaier & Qiang John Fu, 2021. "Is bank staff interaction associated with customer saving behavior in banks?," Journal of Consumer Affairs, Wiley Blackwell, vol. 55(1), pages 332-350, March.
    6. Ewa Frąckiewicz, 2021. "Information and Communication Technologies as a Source of Customer Value in the Context of Balancing the Positions of Younger and Older Consumers," Sustainability, MDPI, vol. 13(9), pages 1-15, April.
    7. Bahati Sanga & Meshach Aziakpono, 2022. "The impact of technological innovations on financial deepening: Implications for SME financing in Africa," African Development Review, African Development Bank, vol. 34(4), pages 429-442, December.
    8. Teodor Hada & Nicoleta Bărbuță-Mișu & Iulia Cristina Iuga & Dorin Wainberg, 2020. "Macroeconomic Determinants of Nonperforming Loans of Romanian Banks," Sustainability, MDPI, vol. 12(18), pages 1-19, September.
    9. Mashaal A. M. Saif & Nazimah Hussin & Maizaitulaidawati Md Husin & Ayed Alwadain & Ayon Chakraborty, 2022. "Determinants of the Intention to Adopt Digital-Only Banks in Malaysia: The Extension of Environmental Concern," Sustainability, MDPI, vol. 14(17), pages 1-32, September.
    10. Ji-Hee Jung & Jae-Ik Shin, 2019. "The Effect of Choice Attributes of Internet Specialized Banks on Integrated Loyalty: The Moderating Effect of Gender," Sustainability, MDPI, vol. 11(24), pages 1-18, December.
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    12. Kuan-Chieh Chen, 2020. "Implications of Fintech Developments for Traditional Banks," International Journal of Economics and Financial Issues, Econjournals, vol. 10(5), pages 227-235.

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