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Testing Integrative Models of the Change Behavior in the Intention to Adopt Cryptocurrency

Author

Listed:
  • Mark P. Doblas
  • Jishanis Mae G. Becaro
  • Jayendira P. Sankar
  • Vinodh K. Natarajan
  • Yoganandham G.
  • Arumugasamy G.

Abstract

This study explores the adoption of cryptocurrency, specifically Bitcoin, in the Philippines. The authors argue that current behavioral prediction models, such as TRA, TPB, and TAM, do not adequately account for the affective constructs of decision-making when high monetary stakes are involved. To address this gap, the authors propose an integrative model that accounts for financial decision-making processes, risk constructs, and population-specific behavioral strategies. The study used a quantitative-based research design and involved 684 university students from one of the major state universities in the Philippines. The findings show that perceived usefulness, attitude toward cryptocurrency, self-efficacy, and descriptive norms significantly influenced the intention to adopt cryptocurrency. Overall, the study confirms the direct influence of instrumental attitude, knowledge of cryptocurrency, descriptive norm, risk tolerance, ease and difficulty, and control on an individual’s intention to use cryptocurrency. The study contributes to exploring a less studied Philippine consumer base and provides empirical findings and insights into Bitcoin adoption in developing Asian economies. JEL Classification: G15. G17, G41, P33, G32.

Suggested Citation

  • Mark P. Doblas & Jishanis Mae G. Becaro & Jayendira P. Sankar & Vinodh K. Natarajan & Yoganandham G. & Arumugasamy G., 2024. "Testing Integrative Models of the Change Behavior in the Intention to Adopt Cryptocurrency," SAGE Open, , vol. 14(2), pages 21582440241, May.
    • Handle: RePEc:sae:sagope:v:14:y:2024:i:2:p:21582440241253542
    DOI: 10.1177/21582440241253542
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    References listed on IDEAS

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    More about this item

    Keywords

    cryptocurrency; integrative models of change behavior; structural equation modeling;
    All these keywords.

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • P33 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - International Trade, Finance, Investment, Relations, and Aid
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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