saleh nasser al-subari a thesis submitted in fulfilment of the ... · cara organisasi menjalankan...
TRANSCRIPT
iv
ONLINE BANKING ADOPTION AMONG ACADEMICIANS AT MTUN
UNIVERSITIES IN MALAYSIA
SALEH NASSER AL-SUBARI
A thesis submitted in fulfilment of the requirement for the award of the
Degree of Master of Science in Technology Management
Faculty of Technology Management and Business
Universiti Tun Hussein Onn Malaysia
May, 2017
iv
DEDICATION
Special Dedicated
To my lovely mother amazing father, I couldn’t have done this without you. I believe
that this achievement will complete your dream that you had for me all these many
years ago when you chose to give me the best education you could.
v
ACKNOWLEDGEMENT
In the name of ALLAH, the Most Beneficent, the Most Merciful. All praise goes to
almighty ALLAH who is the Lord of worlds. The compassionate, The Merciful.
I am grateful and would like to express my sincere gratitude to my supervisor, Dr.
Shafie Bin Mohamed Zabri for his tireless efforts, encouragement, guidance and
unconditional support throughout this research. I appreciate my siblings for their
affection; I couldn’t imagine my life without them.
vi
ABSTRACT
The advancement of technology especially the invention of the internet has changed
the way organizations conduct their businesses today including banks especially in
offering online banking services. Online banking services had been introduced in
Malaysia in the year 2000. However, bank customers including academicians in
Malaysia are influenced by issues of trust of online banking which also affects their
level of adoption. In addition, there were only few studies which have combined
Technology Acceptance Model (TAM) and Perceived Risk Theory (PRT) in
understanding the adoption of online banking services in Malaysia. Therefore, this
study intended to determine the factors influencing the adoption of online banking
based on TAM (Perceived Usefulness, PU; Perceived Ease of Use, PEOU) as the
base model, with Government Support (GS) being included as the additional
variable. Furthermore, based on PRT, Trust is also included in this study. Variables
influencing Trust (Perceived Security, PS; Perceived Risk, PR; Perceived Privacy,
PP) are also assessed as well as the moderating influence of Trust on the relationship
between PU, PEOU and GS, with the adoption of online banking in Malaysia.
Respondents of this study were selected among academicians at Malaysian Technical
Universities Network (MTUN) based on simple random sampling approach. Data
was collected through the use of survey questionnaires. A total of 600 questionnaires
were distributed while 253 of them were retrieved and usable for data analysis. Data
analysis was carried out with the aid of the Statistical Package for Social Sciences
(SPSS). The main results of this study revealed that PU and PEOU have significant
influence on the adoption of online banking while GS was found not to be
significant. Besides, PS and PR were also found to be significant in influencing
Trust, while PP was found to be non-significant. Finally, Trust is also found to have a
moderating influence on the relationship between PU and GS with the adoption of
online banking and not significant in moderating the relationship between PEOU
with the adoption of online banking. These findings sheds some valuable information
to be considered by banks in offering online banking services to their customers as
well as additional new practical and informational understanding to current literature
on the adoption of online banking services.
vii
ABSTRACT
Kemajuan dalam bidang teknologi terutamanya penciptaan internet telah mengubah
cara organisasi menjalankan perniagaan mereka hari ini termasuk bank terutamanya
dalam menawarkan perkhidmatan perbankan dalam talian. perkhidmatan perbankan
dalam talian telah diperkenalkan di Malaysia pada tahun 2000. Walau bagaimanapun,
pelanggan bank termasuk ahli akademik di Malaysia dipengaruhi oleh isu-isu
keselamatan perbankan dalam talian yang juga memberi kesan tahap penerimaan.
Walau bagaimanapun, hanya terdapat beberapa kajian sahaja di Malaysia yang
menggabungkan ‘Technology Acceptance Model (TAM) dan Perceived Risk Theory
(PRT) dalam memahami penggunaan perkhidmatan perbankan dalam talian. Oleh itu,
kajian ini bertujuan untuk menentukan faktor yang mempengaruhi penggunaan
perbankan dalam talian berdasarkan TAM (Perceived Usefulness, PU; Perceived
Ease of Use, PEOU) sebagai model asas, dengan Government Support (GS)
dimasukkan sebagai pembolehubah tambahan. Tambahan pula, berdasarkan PRT,
‘Trust’ juga termasuk dalam kajian ini. Pembolehubah yang mempengaruhi ‘Trust’
(PS; PR; PP) juga dinilai selain pengaruh ‘Trust’ sebagai moderator kepada
hubungan antara PU, PEOU dan GS, dengan penggunaan perbankan dalam talian di
Malaysia. Responden kajian ini dipilih melalui pendekatan persampelan rawak
berstrata dalam kalangan ahli akademik di Malaysian Technical Universities
Network (MTUN) menggunakan instrumen borang soal selidik. 600 soal selidik telah
diedarkan dengan 253 soal selidik telah dikembalikan dan digunakan untuk analisis
data menggunakan perisian Statistical Package Social Science (SPSS). Hasil utama
kajian ini mendedahkan bahawa PU dan PEOU mempunyai pengaruh yang
signifikan ke atas penggunaan perbankan dalam talian manakala GS didapati tidak
signifikan. Selain itu, PS dan PR juga didapati signifikan dalam mempengaruhi
‘Trust’, manakala PP didapati tidak signifikan. Akhir sekali, ‘Trust’ juga didapati
mempunyai pengaruh kepada hubungan antara PU dan GS dengan penggunaan
perbankan dalam talian dan tidak signifikan sebagai moderator kepada hubungan
antara PEOU dengan penggunaan perbankan dalam talian. Penemuan ini memberi
beberapa maklumat berharga yang boleh dipertimbangkan oleh bank dalam
menawarkan perkhidmatan perbankan dalam talian kepada pelanggan mereka serta
kefahaman tambahan yang berinformasi dan praktikal kepada literature semasa
berkaitan penggunaan perkhidmatan perbankan dalam talian.
viii
TABLE OF CONTENTS
DEDICATION .................................................................................................... iv
ACKNOWLEDGEMENT ................................................................................... ii
ABSTRACT .......................................................................................................... iii
TABLE OF CONTENTS .................................................................................. iviii
LIST OF TABLE .................................................................................................. v
LIST OF FIGURES ........................................................................................... xivi
LIST OF ABBREVATIONS ............................................................................... vii
CHAPTER 1 ........................................................................................................... 1
1.0 Introduction............................................................................................................. 1
1.1 Background of Study ............................................................................................. 2
1.2 Problem Statement ................................................................................................. 3
1.3 Research Objectives .............................................................................................. 6
1.4 Research Questions ................................................................................................ 5
1.5 Research Scope ...................................................................................................... 6
1.6 Significance of the Study ...................................................................................... 7
1.7 Conclusion .............................................................................................................. 9
1.8 Organization of the Study ................................................................................... 10
1.8.1 Chapter one .... 10
1.8.2 Chapter Two .... 10
1.8.3 Chapter Three .... 10
1.8.4 Chapter Four .... 10
1.8.5 Chapter Five .... 11
ix
CHAPTER 2 LITERATUREREVIEW ............................................................. 12
2.0 Introduction........................................................................................................... 12
2.1 Background ........................................................................................................... 12
2.1.1 Definitions of Online Banking .... 13
2.1.2 Online Banking in Developed Countries .... 14
2.1.3 Online Banking in Developing Countries .... 16
2.2 Advantages and Disadvantages of Online Banking ........................................ 20
2.2.1 Advantages to the Customers .... 20
2.2.2 Advantages to the Banks .... 21
2.2.3 Disadvantages to the Customers .... 21
2.2.4 Disadvantages to the Bank .... 22
2.3 Theories Used in Online Banking Adoption .................................................... 23
2.3.1 Choice of Theories .... 25
2.3.2 Technology Acceptance Model (TAM) .... 26
2.3.2 Perceived Risk Theory .... 27
2.4 Findings of Research Studies Concerning Customer’s Adoption of OB ..... 29
2.4.1 Summary of Findings of Research Studies Concerning OBA .... 40
2.5 Online Banking Adoption ................................................................................... 40
2.6 Factors Influencing Online Banking Adoption ................................................ 41
2.6.1 Perceived Usefulness (PU) .... 41
2.6.2 Perceived Ease of Use (PEOU) .... 42
2.6.3 Government Support (GS) ..................................................................... 43
2.7 Factors Influencing Trust. ................................................................................... 44
2.7.1 Perceived Security .... 45
2.7.2 Perceived Privacy .... 47
2.7.3 Perceived Risk .... 48
2.8 Conclusion ............................................................................................................ 50
CHAPTER 3 REASEARCH METHODOLOGY ............................................. 51
3.0 Introduction........................................................................................................... 51
3.1 Research Design ................................................................................................... 52
3.2 Research Framework ........................................................................................... 53
3.3 Research Hypotheses ........................................................................................... 55
x
3.3.1 Perceived Usefulness (PU) and Online Banking Adoption .... 55
3.3.2 Perceived Ease of Use (PEOU) and Online Banking Adoption .... 56
3.3.3 Government Support and Online Banking Adoption .... 56
3.3.4 Perceived Security and Trust .... 57
3.3.5 Perceived Privacy and Trust .... 57
3.3.6 Perceived Risk and Trust .... 58
3.3.7 Trust as (Moderator) Between Usefulness and OBA .... 58
3.3.8 Trust as (Moderator) Between Ease of Use and OBA .... 58
3.3.9 Trust as (Moderator) Between Government Support and OBA .... 59
3.4 Research Approach .............................................................................................. 59
3.5 Target Population and Sample Size ................................................................... 59
3.6 Research Instrument ............................................................................................ 61
3.7 Data Collection ..................................................................................................... 63
3.8 Data Analysis ....................................................................................................... 64
3.9 Descriptive Analysis ............................................................................................ 65
3.10 Reliability .............................................................................................................. 65
3.11 Pilot Study ............................................................................................................. 66
CHAPTER 4 DATA ANALYSIS ........................................................................ 68
4.0 Introduction........................................................................................................... 68
4.1 Descriptive Analysis ............................................................................................ 68
4.2 Demographic Background of Respondents ...................................................... 69
4.3 Validity and Reliability ....................................................................................... 74
4.3.1 Exploratory Factor Analysis .... 75
4.4 Normality Test ...................................................................................................... 77
4.5 Reliability Test ..................................................................................................... 78
4.6 Distribution of Mean Score and Standard Deviation ...................................... 79
4.7 Online Banking Adoption .................................................................................. 79
4.8 Correlation ............................................................................................................ 80
4.9 Multiple Regression Analysis ............................................................................ 82
4.9.1 Factors that Influencing Online Banking Adoption .... 83
4.9.2 Factors that Influencing the Level of Trust .... 85
xi
4.9.3 Trust as a Moderator between the Independent and Dependent
Variables ........
4.10 Summary of Hypothesis Tested ......................................................................... 94
4.11 Conclusion ............................................................................................................ 95
CHAPTER 5 DISCUSSIONs, RECOMMENDATIONS AND CONCLUSION
5.0 Introduction........................................................................................................... 97
5.1 Recapitulation of the Research........................................................................... 97
5.2 Discussions of Research Findings ..................................................................... 99
5.2.1 Participant’s Demographic Characteristics .... 99
5.2.2 OBA among Academicians at MTUN Universities in Malaysia. .. 100
5.2.3 Factors Influencing OBA among Academicians at MTUN .. 101
5.2.4 Factors that Influencing the Level of Trust on OBA .. 103
5.2.5 Trust as a Moderating between Factors Influencing OBA .. 104
5.3 Limitation of the Study ..................................................................................... 106
5.4 Implications and Suggestions of Study ........................................................... 106
5.5 Contribution of the Study ................................................................................ 107
5.6 Recommendations for Future Study ................................................................ 109
5.7 Conclusion ......................................................................................................... 109
REFERENCES ..................................................................................................... 111
APPENDICES ...................................................................................................... 138
xii
LIST OF TABLE
TABLE NO. TITLE PAGE
2.1 Illustrates of the Online Banking Subscribers in Malaysia 17
2.2 Summary of (OBA) in Develop and Developing Countries 20
2.3 The Explain the Different Studies in (OBA) 30
2.4 The Summary of the Trust Definition 49
2.5 The Summary of the Security Definition 51
2.6 The Summary of the Perceived Risk Definition 53
3.1 Research Instrument 67
3.2 Mean Tendency Level 70
3.3 Cranbach’s Alpha Reliability Analysis 71
4.1 Demographic Background of Respondents 74
4.2 Demographic Background (University-Faculty-Race) 75
4.3 Demographic Background (Position-Basic Salary) 76
4.4 Which of the Bank do you prefer? 77
4.5 Which of the bank are you using? 78
4.6 Sources of Information Regarding Online Banking 78
4.7 Transactions Performance through Online Banking? 79
4:8 Principle Component Analysis for the Factors of (OBA) 81
4: 9 Component Analysisfor the Factors Influencing Trust 82
4.10 Normality Test for All of the Factors 83
4.11 ReliabilityAnalysis 83
4.12 Mean Score and Standard Deviation of Online Banking 84
4.13 Different interpretations for Correlation 85
4.14 Pearson Correlations for Direct Factors 86
4.15 Summary of Standard Multiple Regression Analysis 88
4.16 Standard Multiple Regression of Variance (ANOVA) 88
4.17 Standard Multiple Regression for the Direct Factors 89
4.18 Pearson Correlation for Factors Effects Trust 90
xiii
4.19 Model Summary of Standard Regression Analysis 91
4.20 Standard Multiple Regression Analysis of Variance 91
4.21 Standard Multiple Regressions Analysis coefficients 92
4.22 Pearson Correlation of Moderating and Direct Factors 95
4.23 Results of the Regression Analysis (Model Summary) 96
4.24 Multiple Regression Analysis of (ANOVA) 97
4.25 Results of the Regression Analysis of Moderation Effects 98
4.26 Summary of Hypothesis 100
xiv
LIST OF FIGURES
FIGURE NO TITLE PAGE
3.1 Flowchart of methodology 57
3.5 Theoretical Framework 58
4.1 Results of Testing the Hypothesis 93
4.2 Testing Hypothesis and R square in links 99
4.3 Results of Testing Hypothesis in links 104
xv
LIST OF ABBREVATIONS
OBA Online Banking Adoption
TAM Technology Acceptance Model
PRT Perceived Risk Theory
PU Perceived Usefulness
PEOU Perceived Ease of Use
GS Government Support
PS Perceived Security
PP Perceived Privacy
PR Perceived Risk
USA United States of America
UK United Kingdom
MUTN Malaysian Technical University Network
UTHM University Tun Hussein Onn Malaysia
UTEM University Technical of Malaysia Malacca
UNIMAP University Malaysia Perlis
UMP University Malaysia Pahang
IIUM International Islamic University Malaysia
IT Information Technology
1
CHAPTER 1
INTRODUCTION
1.0 Introduction
The advancement of technology especially the invention of the internet has changed
the way of organizations conduct their business today.Market globalization,
advancement in technology and intense competition between banking institutions
have forced banks to find new market and innovative financial services(Laukkanen,
2007).Online banking services are gaining popularity around the world. Shih & Fang
(2004) describes online banking, as a new information system that uses the internet
and innovative resources of the World Wide Web (www) to enable customers to
perform financial activities in virtual spaces. Online banking offers many benefits to
banking institutions and customers. According to Jayawardhena& Foley (2000), the
main benefits it offers to banks are cost savings, efficiency of the new population
groups, improved reputation of the bank, and benefits to customers including balance
inquiries, bill payments, and transfers of funds and access to virtually any type of
banking transaction at the click of the mouse available 24hours of the day. Besides, it
can save time, reduce effort, enjoyable, useful and convenient (Laukkanen, 2007).
Muzividzi et al. (2013) reported that online banking charges are much less compared
to traditional banking. For instance, the availability of online banking services
provide avenue for the customers to choose a wide range of banking services
virtually anytime and anywhere (Tanet al., 2010).Booz Allen & Hamilton (2001),
claiming that the average payment transaction fee through the internet was $ 0.01,
compared with $ 0.02 for personal computer banking services, $ 0.027 for ATM
services, $ 0.54 for telephone banking and $ 1.07 for transactions carried out in bank
branches in UK. From a customer's point of view, this banking channel facilitates a
2
convenient and efficient way to manage the needs of individual banks as it can be
accessed from any location 24 hours a day, 365 days a year without having to visit a
bank branch.
Similarly, online banking is still considered low in Malaysia compare to
European countries, and some bank customers are increasingly interested. Most
importantly, it will be useful for users who are willing to adopt the technology. The
focus of this study is online banking, which is considered to be the most important
and popular channel for providing banking services in the internet age.
1.1 Background of Study
Online banking is defined as a remote delivery channel that uses the internet as a
banking system service over the World Wide Web (www), which allows customers
to access their financial information directly and conduct financial transactions
without going to the bank. Xue et al. (2011) stressed that most banks have deployed
online banking systems to reduce costs while improving customer service.
The Malaysian Central Bank officially approved online banking services in
Malaysia on June 1, 2000, with the Malaysian Bank Berhad (Maybank), being the
first bank to provide customers with the vision of online banking. The online banking
portals provides services such as bill payments, balance enquiries, credit card
payments, funds transfers, account summaries, and transaction history.
Online banking has become a central research area for many researchers in
Malaysia. Specifically, recent research conducted in online banking was conducted
by (Khalil et al., 2010; Fahim et al., 2012 and San Ong et al., 2014), the study
reported online banking research in Malaysia is still at infancy. According to Al-
Fahim et al. (2012), students at the International Islamic University Malaysia (IIUM)
are not compliance with e-banking due to ineffective marketing awareness by the
banking officials to the students.
According to, Bashir et al. (2015),theories/models extended to explain
technology adoptions including, Innovation Diffusion Theory (IDT; Rogers, 1983),
Technology Acceptance Model (TAM; Davis, 1989),Decomposed Theory of Planned
Behaviour (DTPB; Taylor and Todd, 1995), Extended Technology Adoption Model
(TAM2; Venkatesh and Davis, 2000) and Unified Theory of Acceptance and Use of
3
Technology (UTAUT; Venkatesh et al., 2003).These theoretical approaches have
contributed significantly to providing important guidance to banking institutions to
enhance the adoption of online banking services. The acceptance of online banking
services has become a key issue in today's business world. Although the adoption of
online banking services has been widely adopted in developed countries, the
adoption of online banking services by customers in developing countries is slower
than expected (AbuShanab et al., 2010 and Nasri & Charfeddine, 2012). On the other
hand, in Malaysia, academicians and other general public will be affected if their
accounts are hacked. Therefore, it becomes important and necessary to determine the
adoption of online banking adoption among academicians in Malaysian Technical
University Network (MTUN).
1.2 Problem Statement
Online banking constitutes a fusion of conventional banking and web technology. It
has been increasingly offered by banking sectors worldwide. The introduction of
information technology facilities such as online banking has resulted in improved
service quality and excellent service provision in the banking industry (Sahut et
al.,2015).Online banking has been implemented in developed countries such as the
United States, Australia, Estonia and other countries in Europe, and the adoption
trend of online banking in developing countries has also increased(George et
al.,2014).While online banking has been introduced in Malaysia since 2000, there are
still some Malaysians who do not have a good exposure of the benefits of using
online banking services, mainly due to trust issues. San Ong et al. (2014) reported
that online banking adoption has been initiated in Malaysia but there is still a whole
lot of Malaysian preferring to use traditional banking. As a result, Malaysia's
acceptance of online banking is low.
In addition, these studies focus on online banking in Malaysia and they have
reported that online banking research is still at infancy due to lack of awareness of
the service and the benefits they offer to users as well as how they can be used (Al-
Fahim et al., 2012; Munusamy et al., 2012; San Ong et al., 2014 and Yen et al.,
2016). Acceptance of online banking in Malaysia remains relatively low, only 31%
of Malaysians have interest in online banking; 73% are worried about security issues
4
and concerns as well as privacy issues (San Ong et al., 2014). However, since the
beginning of 2011, the number of online banking users had increased to 11.6 million
which represents 41% of the population. In 2012, the number of Malaysian online
banking subscribers was 13.4 million and had increased to about 46% and in 2013,
the number of Malaysian online banking subscribers had increased to 14.8 million
which represents 50% of the Malaysian population. This indicates that half of the
Malaysian population had adopted the idea of online banking (Jalil et
al.,2014).Despite the increased usage of online banking services in Malaysia,
security issues still remain a great threat due to increase in activities of scammers.
Scamming activities had drastically risen as the number of reports made to cyber
security authorities increased from 634 in 2009 to 1,426 reports in 2011 (Levi, M.
2016).
These scamming activities are being perpetrated by fraudsters. Fraudsters
carry out attacks on users by compromising the user’s security details which is the
user’s password. Once the user’s account is compromised there stands nothing
between the user’s funds and the fraudster. This results not only in the user’s loss of
funds, but also violates the user's privacy. This has resulted in many internet users
not utilizing online banking services due to concerns of distrust and fear of being
hacked. Owolabi (2010) pointed out that the problem of frauds associated with
banking institutions are not limited a particular geographical location, economy,
country, or environment; but are issues which are experienced by users all over the
globe. Therefore, lack of trust or inadequate skills to use online banking services are
the reasons that prevent customers from utilizing online banking. According to
Mangin et al. (2014), fostering trust will help customers develop confidence in
conducting financial transactions over the internet, rather than conducting the same
transaction in the bank office.
To successfully incorporate technology into a system, users have to accept
and adopt the technology and this can be achieved by instilling high level of trust
among users. Safeena et al. (2010) and Dash et al. (2012) found that perceived risk
was the primary inhibition of customer trust towards utilizing online banking
services. Very few studies have combined and applied Technology Acceptance
Model (TAM) with constructs of Perceived Risk Theory (PRT) in the field of online
banking services (Castañeda et al., 2007; Celik, 2008 and Bashir et al., 2015). A
study by Kesharwani & Bisht (2012) who applied extended TAM found that
5
perceived usefulness (PU), perceived ease of use (PEOU), perceived risk and social
influence have significant and positive impact on the behavioral intentions of
customers using online banking services. Varaprasad et al. (2013) extended TAM by
adding relative advantage, perceived risk and conspicuous constructs and found that
perceived usefulness (PU), perceived ease of use (PEOU), perceived risk, relative
advantage and conspicuous are the important determinants of online banking
adoption. In a more recent study, Sharma & Srikrishna (2014) added social influence,
quality of online connection, awareness and self-efficacy constructs into their model.
Despite substantial studies in this area, there are little studies that combined
and applied Technology Acceptance Model (TAM) with Perceived Risk Theory
(PRT) in the field of online banking services. Therefore, this study is intended to
determine the factors influencing online banking adoption among academicians at
MTUN universities in Malaysia by adapting extended Technology Acceptance
Model (TAM) combined with the Perceived Risk Theory (PRT).We take
academicians in this research because no research on this two models takes
academicians into considerations (Tan et al., 2016) and also almost all academicians
are into banking activities either by receiving salaries or doing other activities.
1.3 Research Questions
1. What is the level of online banking adoption among academicians at MTUN
universities in Malaysia?
2. What are the factors influencing the online banking adoption among
academicians at MTUN universities in Malaysia?
3. What are factors influencing the level of trust on online banking adoption
among Academicians at MUTN universities in Malaysia?
4. Does trust moderate the relationship between the factors that influences
online banking adoption and academician’s online banking adoption?
6
1.4 Research Objectives
Based on the problem statement discussed, the objectives of this study are as follows:
1. To investigate the level of online banking adoption among academicians at
MTUN universities in Malaysia.
2. To determine the factors influencing online banking adoption among
academicians at MTUN universities in Malaysia.
3. To assess the factors influencing the level of trust on online banking adoption
among academicians at MTUN universities in Malaysia.
4. To determine the relationship between the factors that influences online
banking adoption and academician’s online banking adoption with trust as a
moderating variable.
1.5 Research Scope
Online banking is one of the most important parts of the banking system. Wan et al.
(2005) reported that online banking has been used as a conduit for distribution of
banking services and products among customers. Sohail et al. (2003) added that the
success of online banking adoption also depends on customer acceptance. In
addition, the increase in internet users should lead to an increase in online banking
users also.
This study was based on the TAM and PRT as a theoretical framework to
investigate the level of online banking adoption among Academicians at MTUN
universities in Malaysia. This study is a cross sectional quantitative study to obtain
data concerning the usage of online banking by intended users. This study utilizes a
survey as data collection. Data were collected from academicians at Malaysian
Technical University Network (MTUN) which bring together four technology based
universities in Malaysia (the University Malaysia Perlis (UNIMAP), Technical
University of Malaysia Malacca (UTEM), the University of Tun Hussein Onn
Malaysia (UTHM) and University of Malaysia Pahang (UMP).The target population
based on each university website 2016, UNIMAP = 734, UTEM = 983, UTHM =
7
1029 and UMP = 720. The total population of academicians is 3466. The sample size
was determined based on Krejcie and Morgan table (Krejcie& Morgan, 1970),
sample size of this study was 346. The respondents were selected through simple
random sampling from different faculties, races and academic level.
1.6 Significance of the Study
Online banking has the potential to improve customer satisfaction and bank
performance (Alsajjan & Dennis, 2010) and at such warrants being studied to bring
to limelight its potentialities. As online banking is popular among today’s customers,
most companies are using this platform to conduct their business transactions more
efficiently. Online banking provides consumers with services such as online
bookings, buying products online, transferring funds and paying for utility bills as
well as carrying out other transactions. The study would be of utmost significance to
banking and financial institutions in Malaysia as well as contribute to the body of
literature on online banking adoption. Principally, four contributions are expected
from the study; (1) the study would contribute to determining the level of online
banking adoption among academicians in MTUN universities in Malaysia (2) the
study would contribute to determining the factors that influence online banking
adoption among academicians at MTUN universities in Malaysia (3) the study would
also contribute to examining the factors that influences the level of trust among
academicians at MTUN universities in Malaysia (4) finally the study would
contribute to ascertaining the role of trust as a moderator between the factors that
influence online banking adoption and its relationship to academician’s online
banking adoption.
The study would extend the propositions of online banking theories as two
theories have been combine to ascertain the factors that contributes to or influences
online banking adoption among academicians. Technology Acceptance Model
(TAM) and Perceived Risk Theory (PRT) have been applied in the new context of
the online banking adoption and would hopefully extend the theories of TAM as it
relates to online banking acceptance.
As stated earlier this study would be significant to banking institutions and
customers. Banking institutions can utilize the results emanating from this study to
8
The study can be used in the bank improvement system to facilitate user experiences
for customers who utilize online banking services by improving provide user access
to customers anytime, anywhere and more efficient services. Since the factors that
influence online banking adoption would be explore from this study, banking
institutions can save use this results to facilitate more customer adoption of online
banking services by exploring how they mitigate or contribute to these factors.
In addition, the study may be an incentive for banks to organize meetings and
educate users about the flexibility and accessibility that comes with online banking
adoption. This will help strengthen user's trust in banking services and online
banking channels. In addition, banks can increase customer’s awareness of the risk
associated with online banking services as well as educate them to secure themselves
against these security risks thereby instigating trust in customers. Doing this will
enable banks provide assurances to their customers that they will be able to maintain
a competitive quality of service in the future and avoid losing their customers to their
competitors.
Customers on the other hand, can benefit from this study in the following
ways. Customers can increase their awareness of the different aspects of risk
associated with online banking through the results of this study. As a result, the level
of confidence in customers would be increased as a result of being aware of the
security threats associated with online banking services and the knowledge of how to
protect themselves against these threats. Hence, in the long run, customers would be
free to engage in carrying out transactions using online banking services without any
form of hesitation.
So far, most internet banking studies have focused on specific countries such
as the United States (Dawes & Rowley, 1998; Tuchila, 2000; Pikkarainen et al.,
2004; Arnaudovska et al., 2010 and Chau & Ngai, 2009, 2010, and Azouzi 2009).
These studies highlight the factors that influence consumer behavior using online
banking. However, in Malaysia, previous research on the use of online banking was
limited. The researchers found only a few studies on online banking in Malaysia (see
Al-Fahim et al., 2012; Munusamy et al., 2012; San Ong et al., 2014 and Yen et al.,
2016). Therefore, this study can be viewed as an extension of previous research on
online banking adoption.
Despite, the substantial amount of literature on online banking adoption, there
is scarce literature explaining how each risk factors affects customer’s trust towards
9
online banking, this gap has not been adequately addressed in previous studies. Most
studies had focused only on one of the risks. For example, (Suki et al., 2015; Yiu et
al., 2007 and Sanayei & Noroozi 2009) focused on examining the impact of
perceived risk on the adoption of online banking. Other studies have focused on the
impact of perceived security on online banking acceptance (Hutchinson & Warren,
2003; Maenpaa et al., 2008). Therefore, in order to fill this gap in the literature, this
study identified three types of risk, perceived security, perceived privacy and
perceived risk, and investigates how each risk affects the level of trust in online
banking adoption, thereby contributing to the body of literature on online banking
adoption.
1.7 Conclusion
The focus of the study was on online banking, which is considered to be the most
important and popular channel for providing banking services in the internet age.
Online banking services in Malaysia was officially provided by the Malaysian
Central Bank on June 1, 2000 with the Malayan Banking Berhad (Maybank)
providing it amongst its banking services. Since its introduction in Malaysia in the
year 2000, there are still a significant amount of Malaysians who do not have good
exposure to the advantages of using online banking services, mainly due to trust
issues. Since academicians who have much money in their bank‘s accounts will be
the most affected from security threats, if their accounts have are hacked. Thus, this
study was designed to investigate the level of online banking adoption among
academicians at Malaysian Technical University Network (MTUN) in Malaysia.
In addition, this study combined and adapted the Technology Acceptance
Model (TAM) with Perceived Risk theory (PRT) in the field of online banking
services, to determine the factors that influence online banking adoption among
academicians at MTUN universities in. This study is a cross sectional quantitative
study. Data was collected from academicians at Malaysian Technical University
Network (MTUN)-which constitutes four technology based universities in Malaysia.
These universities include University Malaysia Perlis (UNIMAP), Technical
University of Malaysia Malacca (UTEM), University Tun Hussein Onn Malaysia
(UTHM) and University Malaysia Pahang (UMP). The respondents were selected
10
using probability sampling, specifically the simple random sampling technique.
Academicians were selected randomly from different faculties, different races and
their academic level to participate in the study.
1.8 Organization of the Study
This study was organized in five chapters;
1.8.1 Chapter One
Introduction, consist the back ground of study, problem statement, objectives of
study, research questions, research scope and significance of study.
1.8.2 Chapter Two
This chapter presents the literature review,theories used in this study, factors
influencing online banking adoption in Malaysia and the factors influencing the level
of trust based on previous studies.
1.8.3 Chapter Three
This chapter describes the research frameworks, research design, research
instrument, sample and the target population and pilot study. A summary is provided
at the end of the chapter.
1.8.4 Chapter Four
This chapter presents the data and analysis based on the research objectives and
research questions of the study.
11
1.8.5 Chapter Five
This chapter presents the summary of findings, conclusions and recommendations of
the study.
12
CHAPTER 2
LITERATUREREVIEW
2.0 Introduction
This section presents the literature review, background of study, advantages, and
disadvantages of online banking and definitions of online banking. In addition,
online banking in developing countries and developed countries and also discussed,
the theories of this study which are Technology Acceptance Model and Perceived
Risk Theory are discussed in relation with the objectives of the study. Finally, the
factors influencing online banking adoption in Malaysia and the factors influencing
the level of trust based on the previous studies are discussed.
2.1 Background
Online banking is an important distribution channel for traditional banking products.
Providing reliable and efficient services pose challenges for banks trying to develop
their international business (Crede, 1998).With the development of the internet,
banks will inevitably provide customers with online banking services. While branch-
based retail banks are still the most common method of banking transactions, internet
technology has changed the way personal financial services are designed and
delivered to customers (Wang et al., 2003). Shih & Fang (2004) describes online
banking as a new type of information system that utilizes the internet and the
innovative resources of the World Wide Web (www) to enable customers to conduct
financial activities in virtual space. Through online banking, all regular transactions
can be carried out by customers, such as account transfers, bill payments, balance
inquiries and stop payment requests (Smith, 2006). According to Smith (2006), with
13
the help of an online banking system, customers can conduct banking activities at
home or at work.
Online banking is a 24/7 service that reduces labor costs, extends service
hours, and improves bank efficiency and effectiveness (González et al., 2008 and
Smith, 2008). Online banking has been otherwise referred to as PC banking or online
banking. With the advent of online banking facilities, customers can perform many
transactions such as customer service inquiries, funds transfer from one account to
another, loan applications, opening new accounts, and transactions between third-
party accounts.
With the rapid changes and developments in information technology
(Rahman et al., 2014 and Talukder, 2011, 2010), online banking has introduced new
methods and systems that enable banking institutions to serve potential customers.
As a result, banks must adapt their forecasting strategies to evolving customer needs
and new technological developments. According to Ho & Wu (2009), the cost of
online banking in 2000 was about $ 0.01 per transaction, which means that it
accounted for only 1% of all banking transactions. Banks that provide online banking
are enabled by introducing products into the online marketplace that attracts
customers to use web services. These banks can then use the online performance
measurement method to assess their online banking performance.
2.1.1 Definitions of Online Banking
Online banking is the latest delivery channel for retail banking services. Online
banking refers to a variety of services through which bank customers can request
information and perform most retail banking services, such as balance reports,
account transfers, bill payments, without leaving their home or organization, (Mols,
1998 and Sathye, 1999).
Online banking is defined as the use of banking services through computer
networks (the internet) (Aladwani, 2001). Online banking is an evolving process and
there is no single measure to assess the strength of online banking services (Nielsen
& Tahir, 2002). The speed of online banking connections is an important factor for
online banking adoption. Online banking is a technological innovation (Lin et al.,
2008). Online banking can be defined as a service that allows customers to perform
14
bank transactions using a computer with an internet connection (Loyd, 2007).In
addition, online banking is described by Pearce & Robinson (2000) as a banking
transaction type in which people transfer funds, query account balances, pay bills and
manage online stock equity. Therefore, online banking is considered a new and
innovative way to reach customers and enhance banking products and services.
While online banking is still a relatively new phenomenon in developing countries,
there is an agreement that the provision of this service will have a considerable
impact on the banking sector in these countries (Kesharwani et al., 2012). Online
banking is defined in the context of this study as a new service to help customers
conduct their banking transactions from anywhere in the world via the internet.
2.1.2 Online Banking in Developed Countries
2.1.2.1 Online Banking in the United States of America (USA)
Online banking has improved the quality of service and superior service delivery in
the banking sector (Dawes & Rowley, 1998). Most of the banks with internet
presence come from the United States, while in Europe the largest number of bank
websites is in the UK, Germany, Spain, Italy and France (Tuchila, 2000). By
contrast, in late 2000, about 20% of USA banks provided online banking services,
and only 20% of USA private banking customers were using online banking to
access online banking services (Sheshunoff, 2000). In general, Europe has been and
remains the leader in online banking technology and usage (Schneider, 2001). By the
end of 2002, approximately 120 banks in the United States provided online banking
services (Pyun et al., 2002). An interesting and striking difference between USA and
European banks is that bank of America does not allow a large network of bank
branches across the country (Pyun et al., 2002).
Although developed countries such as the United States of America (2004),
Kolodinsky (2004), Australia (Sathye, 1999), Estonia (Eriksson et al., 2005) and
other countries in Europe (Pikkarainen et al., 2004), Gurau (2002) utilize online
banking services. Online banking has also been implemented in many developed
countries, such as the United States and Europe (Pikkarainen et al., 2004). A study
conducted by Arnaudovska et al. (2010) showed that American students preferred to
15
shop online rather than shop in stores. Similar studies have examined customer
attitudes toward e-banking services in the UK (Chau & Ngai, 2010). Romi et al.
(2015) reported that in 2012, 423.5 million internet users had access to online
banking websites, 28.7% of the world's internet visitors had access to online banking.
Reports showed that 45% visited internet banking sites in North America, 37.8%
from Europe, 25.1% from Latin America, 22% from Asia and the Middle East and
8.8% from Africa. In 2013, few research centres reported that 51% of USA adults, or
61% of internet users, accessed online banking, while the percentage in Europe
reached 43% (Eurostat 2015). Statistics also show that 45% of European internet
users had access to online banking. Factbrowser (2015) shows that 46% of online
users who are willing to engage in online banking come from the Asia-Pacific region,
45% from Africa and the Middle East, and 36% from Latin America. In Malaysia,
there are only about 14.6 million online banking subscribers, with a total of 14.3
million people as of June 2013 (Jalil et al., 2014).
2.1.2.2 Online Banking in the United Kingdom (UK)
The United Kingdom (UK) is one of the most developed countries in Western
Europe, providing online banking services. This section focuses more on online
banking technology in the UK as an advanced country for banking technology from
well established companies. Scott & Walsham (2000) pointed out that the bank of
England was the first to introduce a computer-based decision support system in the
middle market corporate lending process in the UK retail banking sector.
Despite the steady growth in UK online banking over the past few years, half
of UK customers still visit a bank branch each month, suggesting that bank managers
need to encourage customers to use the internet daily business to release branch and
call center employees for higher value interactions (Forrester, 2009). Azouzi (2009),
shows that the younger generation is more willing to adopt online services because it
is more comfortable, easy to use, useful, enjoyable, saves time and cost.
16
2.1.3 Online Banking in Developing Countries
Online banking is common in many developed countries. However, for many
developing countries, due to several factors, online banking is still at infancy. As the
banking sector is an important part of the service industry, it is important for banks to
operate effectively through the use of online banking. The term online banking is
associated with online banking or electronic banking, which is appropriately defined
to automatically deliver new and traditional banking products to customers via online
and interactive communication channels. The rate of globalization and new
technological developments has fuelled a new era of e-commerce (Ibrahim et al.,
2013), forcing bank centres to adopt toll internet users to grow rapidly in Asia.
2.1.3.1 Online Banking in Malaysia
In Malaysia, the Central Bank of Malaysia formally approved online banking on June
1, 2000. Malaysia's largest bank, (Maybank) was the first bank in Malaysia to offer
online banking services. The online banking system makes it easy for financial
institutions, customers, individuals and traders to access their accounts, engage in
business transactions, and also enable account holders to access information about
financial products and services via the intranet (Singhal & Padhmanabhan, 2008).
Furthermore, a study by Suganthi & Balachandran, (2001) focused on accessibility,
reluctance to change, cost, trust, security issues, convenience, and ease of use as
possible factors affecting online banking adoption through online surveys. The
results of the study showed that accessibility, unwillingness to change, and
awareness were positively associated with online banking adoption.
In Malaysia, the number of online banking frauds had risen enormously with
increase in the number of cyber security reports from 634 in 2009 to 1426 in 2011
(Kotze et al.,2014). The scam is carried out against bank customers by providing
these customers with a fake but identical website to expose their username and
password; this is referred to as phishing in cyber security. Schneier (2000) reveals
that phishing attacks occurs on an internet architecture and makes it easy for people
in a remote area of the world to mimic legitimate bank websites that expose
customers' information, making these customers vulnerable to such attacks. One of
17
the main reasons customers do not trust internet technology is the uncertainty in the
reliability of internet services (Lee & Turban, 2001).
In Malaysia, in early 2011, the number of online banking users increased to
11.6 million, accounting for 41% of the population. In 2012, the number of online
banking users in Malaysia increased to 13.4 million representing 46% of the total
population. In 2013, the number of online banking users recorded in Malaysia was
14.8 million representing 50.0% of the population, which indicates that half of the
Malaysian population used online banking services (Jalil et al., 2014 and Mustafa et
al., 2015). Banks in Malaysia appears to have taken such a leap in the number of
online banking users as a result of the strategies these banks utilize in creating the
needed awareness to acquaint users of online banking services. Information about
these services was made readily available through the bank’s website (Nasri et al.,
2012). Table 2.1 shows a summary of online banking users in Malaysia from 2005 to
2013.The table corroborates Mustafa et al. (2015) assertions that the number of
online users in Malaysia was increasing every year.
Table 2.1: Illustrates the online banking subscribers in Malaysia from 2005 to 2013
There are 33 commercial banks listed in Malaysia. CIMB has been declared
as the best online banking in Malaysia, as it provides high quality online services
(Krishanan et al., 2015).
According to Al-Fahim et al. (2012) a survey of Malaysian International
Islamic University (IIUM) student’s online banking adoption in Malaysia reported
that most respondents occasionally use online banking, and many of these
respondents had little knowledge of online banking services. Findings also revealed
that perceived usefulness and perceived ease of use was found to be important and
Year Number of Subscribe (Millions) Penetration to Population (%)
2005 2.5 9.8
2006 3.2 12.0
2007 4.6 16.9
2008 6.1 22.5
2009 8.0 28.9
2010 9.8 34.4
2011 11.6 41.6
2012 13.4 46.6
2013 14.8 50.0
18
also that relevant factors in online banking were used by IIUM students. However,
despite the steady growth of online banking users, there are still some obstacles to
the acceptance of these services in Malaysia (Poon, 2007). Furthermore, a study
carried out by Tatet al. (2008) investigated the determinants of intention to use online
banking at least once in the user's experience in the Klang Valley. Multiple linear
regression results showed that three important predictors, including trust,
compatibility, and ease of use, were perceived as 56.0% variance using online
banking intentions. Among the many factors, trust was seen as an important
challenge for the continued existence of online banking. Yousafzai et al. (2009) also
argued that lack of customer trust is potentially a major barrier to widespread
adoption of online banking. As customers establish business relationships with
remote and inhumane banking services, they may experience greater perceived risk
and uncertainties in the online banking environment. It is recommended that
customer distrust in online banking be overcome by establishing, validating and
maintaining trust.
2.1.3.2 Online Banking in Singapore
Singapore's online banking began in 1997, when five local banks in Singapore set up
their own corporate website (Tan & Teo 2000) on the internet. They are the
Singapore Development Bank (DBS), OCBC, OCBC, POSBand UOB. However, in
the provision of online banking services, these banks took a slightly conservative
position. Local banks agreed that online banking services could take over routine
banking transactions. However, customer contact in value-added services such as
investment advice remained important (Tan & Teo, 2000). None of the banks will
take the lead in providing online banking services, as they thought this could lead to
changes on a competitive basis. In addition, customers do not really provide them
with online banking services.
Interestingly, by January 1998, a more positive approach was taken instead of
the conservative approach to providing online banking services. For example, the
United Overseas Bank and DBS already started offering online banking services.
Overseas Chinese Banking Corporation (OCBC)were testing its online banking
services at the time, while the Overseas Union Bank(OUB), the foreign affiliate,
19
announced plans to launch e-banking services in late 1998. Banks began to view
online banking services as a strategic initiative to provide their customers with an
overall distribution network. In addition, by providing online banking services, they
were able to position themselves as market movers (Tan & Teo, 2000).
2.1.3.3 Online Banking in China
China is one of the developing countries in Asia. Chinese Merchants Bank (CMB)
was the first to launch the internet payment system in 1997. Although internet usage
was relatively low at the time, online banking was still at its early stages (Laforet &
Li, 2005), but the advantages of online banking are convenient, safe, efficient and
economically very promising. Chinese banks believed that the benefits of online
banking outweighs traditional banking services in the future and were therefore eager
to implement new technologies and services to capture, penetrate and gain a
competitive edge at the time (Laforet & Li, 2005). Most retail banks in China now
offer online banking as an add-on to existing branch activities while mobile banking
is in the initial stages of implementation. There is a record of rapidly increasing
spread of online banking systems in China (Laforet & Li, 2005).
2.1.3.4 Online Banking in Arab Nations
Arab countries are still in the early stages of developing online banking (Khalfan et
al., 2004). Lack of national financial development policies has a direct impact on
private investment and enterprise development, especially on online banking
infrastructure (Touati, 2008). The Arab retail banking market is heavily dependent on
entities ranging from large multinational banking groups to regional banks and from
generalist to more specialized Islamic banking sectors. Transactional online banking
is generally still low in terms of general preparation. For example, in 2000 only 18%
of banks provided online trading facilities (Touati, 2008). These are mostly foreign
banks with regional presence. Thirty-nine percent of banks in the region do not even
have information sites (Touati, 2008). With the absence of digital certification laws,
there is no credible local third-party security facilitator to prevent security threats
within the Arabian banking systems.
20
However, the decentralization of research not only in advanced countries, but also in
developing countries from Asia, forbids scholars from facing more integrated
challenges in the banking sector when conducting bank transactions in cyberspace.
Table 2.2 provides a summary of the online banking presence in six different
countries discussed in this study, including Malaysia.
Table 2.2: Summary of the Online Banking in Developed and Developing Countries
Online Banking in Developed Countries Focused of this Study
Online Banking in USA ×
Online Banking in UK ×
Online Banking in Malaysia √
Online Banking in Singapore ×
Online Banking in China ×
Online Banking in Arab Nations ×
2.2 Advantages and Disadvantages of Online Banking
There are numerous advantages and disadvantages of online banking to both,
customers and banks. The innovation and efficiency of services online banking
brings also has two sides- while there are advantages and benefits associated with
utilizing online banking services, there are also limitations or disadvantages in form
of security threats and other associated risk. This section discusses the associated
advantages and disadvantages of online banking to both banks and customers.
2.2.1 Advantages to the Customers
For customers, online banking has many advantages, such as ease of use, price
convenience, and savings in time compared to visiting bank branches (Jayawardhena
& Foley, 2000). There seems to be a general agreement that online banking offers
customers useful benefits and flexibility. The portability of online banking facilitates
ease of use and convenience in carrying out financial transactions. For example, if
customers are facing financial problems abroad and cannot access their funds
through other means, they can access their account through online banking services
wherever they are, as long as these customers have internet access. This is one of the
21
main benefits or advantage of online banking services for customers (Tan & teo,
2000). The potential competitive advantage of online banking is to reduce costs and
meet customer needs (Bradley & Stewart, 2002) more flexibly.
Other online banking advantages include (Cronin, 1999)
Time saving and no more visiting bank branch regularly.
Access to the bank at anytime and anywhere whether in the day or at night,
weekends and even holidays makes it more convenient than traditional
banking.
Viewing past bills without having to keep old documents on account
statements, which eliminates a lot of paper work and creates more space,
previously obtained through statement files
Better monitoring of cash flow because you can view your account at any
time and view all transactions that occurred within a specific timeframe
Customers can schedule automatic or pending transfers of bill payments. This
eliminates the problem of paying bills at the end of the month.
2.2.2 Advantages to the Banks
Tan & Teo (2000) found that most of the banks with Web sites spent less than $
25,000 to create websites that cost less than $ 25,000 per year. They suggest that
even as these numbers rise as more and more banks begin to offer online banking
services, they are still less costly than traditional banking services. While the
operating costs of traditional banks are between 50% and 60% of revenues, the
operating costs of online banking are estimated to be between 15% and 20% (Tan &
Teo, 2000). It also helps banks to provide potentially lower costs than traditional
banking services.
2.2.3 Disadvantages to the Customers
The shortcoming of online banking technology also involves customers and banks.
Despite the many advantages of online banking, there is no doubt that the
shortcomings may affect customer acceptance and trust in online banking to some
extent (Tan & Teo, 2000). For example, increased interpersonal distance between
22
banks and customers can lead to reduced trust and increased security issues. In
addition, the lack of knowledge on the use of online banking services by customers is
particularly important for understanding the slow rate of online banking acceptance
(Tan & Teo, 2000).
Other online banking disadvantages to the customers include (Cronin, 1998).
Internet connection required. As a result, customers who are not connected
will not be able to use the services provided by internet Banking.
Transfer or payment is inefficient. It may take up to four business days for the
transfer to clear the recipient's account. As a result, traditional banks are
much faster than online banks.
Swap banking is more complex than online trading. This means that closing
an account online is much more difficult than doing it through traditional
means.
Only those who have good knowledge of computers and internet skills can
effectively utilize online banking services.
Some banking services must be done face-to-face. Bank drafts, cash orders
and telegraphic transfers. At present, these services through internet banking
are limited.
2.2.4 Disadvantages to the Bank
The main disadvantage of online banking to banks is the increased risk of loss of
money and its reputation on the banking institution. Other shortcomings of online
banking to banks are the reduction in the number of banking jobs. This will result
when online banking is more actively utilized for financial transactions as banks
would no longer require the services of more banking staffs due to the reduction in
workload of banking staffs (Tan & Teo 2000).
Other online banking disadvantages towards banks include (Sohail & Shaikh,
2007):
Cybercrime and money laundering: in this case, the bank is difficult to
identify customers. As a result, it increases the crime rate
23
Online banking depends on IT, the fault tolerance and robustness of
information technology can adversely affect the services provided by online
banking
2.3 Theories Used in Online Banking Adoption
Bashir et al. (2015) reports on the theories/models extended to explain technology
adoptions. These theories includes the Innovation Diffusion Theory by (Rogers
1983), Technology Acceptance Model (TAM) by (Davis, 1989), Decomposed theory
of Planned Behaviour (DTPB) (Taylor and Todd, 1995), Extended Technology
Adoption Model (TAM2) (Venkatesh & Davis, 2000), Unified Theory of Acceptance
and Use of Technology (UTAUT)(Venkatesh et al., 2003).
According to the classification of Hanafizadehet al. (2014), thebasic theories
related to social psychology their extensions in the field of technology adoption.
Include the theory of Reasoned Action (TRA)(Fishbein &Ajzen, 1975), Theory of
Planned Behaviour (TPB)(Ajzen, 1985), Social Cognitive Theory (SCT)(Bandura,
1986), Commitment-Trust Theory (CTT)(Morgan & Hunt, 1994) and Perceived Risk
Theory (PRT) (Roselius, 1971).
A study conducted by Nor et al.(2008), applied the theory of Diffusion of
Innovation Theory (IDT) (Rogers, 1995) that focused on five key beliefs (relative
advantage, compatibility, complexity, trial ability and observability),could be
considered as one of the earliest theories that attempted to explore factors that
influence an individual’s ability to adopt an innovation or a new technology.
Technology Acceptance Model (TAM) has been adapted from the TRA
(Ajzen & Fishbein, 1991 and Fishbein & Ajzen, 1975). Technology Acceptance
Model (TAM) was introduced by Davis, (1986)to explain information technology
acceptance. TAM is the most widely applied theory in understanding individual’s
beliefs towards acceptance and use of technology because it specifically focuses on
information system use. TAM posits that technology usage is directly determined by
behavioural intention of an individual, which is, in turn, influenced by user’s attitude
towards technology, Perceived Usefulness (PU) and Perceived Ease of Use.
Perceived Usefulness (PU) refers to the degree to which users perceive that use of
technology will improve his/her performance (Davis, 1989). Perceived Ease of Use
24
(PEOU) refers to the degree to which the users perceive that using the technology
will be free of effort (Davis, 1989).
Decomposed Theory of Planned Behaviour (DTPB), suggested that a better
understanding of the relationship between the belief structure and the intended
premises requires the decomposition of attitudinal beliefs (Taylor & Todd 1995).
Rogers, (1983)it is also pointed out that, based on the diffusion of innovation theory,
attitudinal beliefs have three distinctive characteristics that affect the innovation
adopted, and they are relative advantages, complexity and compatibility.
Unified Theory of Acceptance and Use of Technology (UTAUT) was
designed to unify the multiple existing theories about how users accept technology
(Venkatesh & Morris, 2000andVenkateshet al., 2003). UTAUT was created from the
following eight notable theories: Theory of Reasoned Action (TRA) from Davis,
Bagozzi &Warshaw (1989); Technology Acceptance Model (TAM) from Davis,
1989;Venkatesh &Davis, (2000); Motivation Model (MM) from Davis, Bagozzi, and
Warshaw (1992); Theory of Planned Behavior (TPB) from Taylor & Todd (1995);
Combined TAM and TPB (C-TAM-TPB) from Taylor and Todd (1995); Model of
PC Utilization (MPCU) from Thompson; Innovation Diffusion Theory (IDT) from
Lee et al. (1991) and Social Cognitive Theory (SCT) from(Stajkovic et al., 1999).
Based on the combination of eight theories, UTAUT explains the behavioral
intention to use or adopt technology by proposing four predictive determinants
(Venkatesh et al., 2003), performance expectancy, effort expectancy, social influence
and facilitating conditions.
Perceived Risk Theory (PRT) has been used to explain customer’s behavior.
Considerable research has examined the impact of risk on online banking consumer
decision making (Lin, 2008). Peter &Ryan (1976) defined perceived risk as a kind of
subjective expected loss. Most scholars claimed that a customer Perceived risk is a
kind of a multi-dimensional construct. Six components or types of perceived risk
have been identified, financial, performance, social, physical, security, privacy, and
time-loss (Jacoby & Kaplan, 1972 andKettle et al., 2016).
111
REFERENCES
Abbad, M.M. (2013), “E-banking in Jordan”, Behaviour and Information
Technology, Vol.32 No. 7, pp. 618-694.
Abdullah, A. G. (2009). Investigating Factors Affecting Customers of Using
InternetBanking: Comparison study between Saudi Arabia and the UK.
AbuShanab, E., Pearson, J.M. and Setterstrom, A.J. (2010), “Internet banking and
customers ‘acceptance in Jordan: the unified model’s perspective”,
Communications of the Association for Information Systems, Vol. 26 No.
23, pp. 494-524.
Adeniyi, A. (2016). Analysis of Fraud in Banks: Evidence From Nigeria.
Ajzen, I. (1991). The theory of planned behaviour. Organizational behaviour and
humandecision processes, 50(2), 179-211.
Aladwani, A. M. (2001). Online banking: a field study of drivers, development
challenges, and expectations. International Journal of Information
Management, 21(3), 213-225.
Alawneh, A., Al-Refai, H., & Batiha, K. (2013). Measuring user satisfaction from e-
Government services: Lessons from Jordan. Government Information
Quarterly, 30(3), 277-288.
Aldas-Manzano, J., Lassala-Navrre, C., Ruiz-Mafe, C. and Sanz-Blas, S. (2009)
‘Theroleof innovativeness and perceived risk in online banking
usage’,InternationalJournalobankMarketing, Vol. 27, No. 1, pp.53–75.
Al-Fahim, N. H. (2012). Factors affecting the adoption of internet banking
amongstIIUM’students: A structural equation modeling approach. Journal of
Internet Banking & Commerce, 17(3).
Ali, S.S. and Bharadwaj, R.K. (2010) ‘Factor analysis approach of decision making
inIndiana-banking: a value adding consumer perspective’, International
Journal of Business Innovation and Research, Vol. 4, No. 4, pp.298–320.
112
Aliyu, A. A. (2012b), An Exploratory Study on Adoption of Electronic
Banking:UnderlyingConsumer Behaviour and Critical Success Factors .
Case of Nigeria , Business and Management Review, 2(1), pp. 1 – 6.
Aliyu, A. A., Rosmain, T., &Takala, J. (2014). Online banking and customer
servicedelivery in Malaysia: data screening and preliminary findings.
Procardia-Social and Behavioural Sciences, 129, 562-570.
Almogbil, A. M. (2005). Security, Perceptions, and Practices: Challenges
FacingAdoption of Online Banking in Saudi Arabia (Doctoral dissertation,
George Washington University).
Alsajjan, B. and Dennis, C. (2010), “Internet banking acceptance model: cross-
marketexamination”, Journal of Business Research, Vol. 63 Nos 9/10,
pp. 957-963.
Al-Sukkar, S.A. (2005), “The application of information systems in the
Jordanianbanking sector: a study of acceptance of Internet”, PhD
Thesis, School of Economics and Information Systems, University of
Wollongong, available at: htttp://ro.uow.edu.au/thesis/419.
Altintas, M. H., &Gürsakal, N. (2007). Phishing Attacks and Perceptions of
ServiceQuality: A Content Analysis of Internet Banking in Turkey. Journal
of Internet Banking & Commerce, 12(2).
Amin, H. (2007). Internet banking adoption among young intellectuals. Journal of
Internet Banking and Commerce, 12(3), 1-13.
Arnaudovska, E., Bankston, K., Simurkova, J. and Budden, M.C. (2010) ‘University
students shopping patterns: internet vs Bricks and Morter’, The Journal of
Applied Business Research,Vol. 26, No. 1, p.31.
Azouzi, D. (2009) ‘The adoption of electronic banking in Tunisia: an exploratory
study’, Journalof Internatinal Banking and Commerce, Vol. 14, No. 3,
available athttp://www.arraydev.com/ commerce/jibc.
Bank Marketing, 28(1), 7-26.
Baraghani, N. S. (2008). Factors influencing the adoption of internet banking:
masters
Baron, R. M., & Kenny, D. A. (1986). The moderator–mediator variable distinction
in social psychological research: Conceptual, strategic, and statistical
considerations. Journal of personality and social psychology, 51(6), 1173.
113
Bart, I.Y., Shankar, V., Sultan, F. and Urban, G.L. (2005), “Are the drivers and role
of online trust the same for all web sites and consumers?A large scale
exploratory empiricalstudy”, Journal of Marketing, Vol. 69, October, pp.
133-52.
Bashir, I., & Madhavaiah, C. (2015).Consumer attitude and behavioral intention
towards Internet banking adoption in India. Journal of Indian Business
Research, 7(1), 67-102.
Bashir, I.andMadhavaiah, C. (2014), “Determinants of young consumers’ intention
touse Internet banking services in India”, Vision: Journal of Business
Perspective , Vol. 18No. 3, pp.1-11.
Bauer, R. A. (1960). TConsumer behavior as risk taking in Hancock, RS (Ed.)
,Dynamic Marketing for a Changing World.In Proceedings of the 43rd
Conference of the American Marketing Association’s.
Bell, J., and Waters, S. (2014). Doing Your Research Project: A guide for first time
researchers: McGraw-Hill Education (UK).
Berney, L. (2008). For online merchants, fraud prevention can be a balancing act.
Cards & Payments, 21(2), 22-7.
Bestavros, A. (2000). Banking industry walks ‘tightrope ‘in personalization of
webservices. Bank Systems and Technology, 37(1), 54-56. between United
States and Malaysia. International Journal of Business and
Management, 8(18), 1
Bhimani, A. (1996). Securing the commercial Internet.Communications of the
ACM,39(6), 29-35.
Black, J.N., Lockett, A., Ennew, C., Winklhofer, H. and McKechnie, S.
(2001)‘Modellingconsumer choice of distribution channel choices: an
illustration from financialservices’,International Journal of Bank Marketing,
Vol. 20, Nos. 4–5, pp.161–173.
Bleidorn, W., Arslan, R. C., Denissen, J. J., Rentfrow, P. J., Gebauer, J. E., Potter, J.,
& Gosling, S. D. (2016). Age and gender differences in self-esteem—A
cross-cultural window. Journal of personality and social psychology, 111(3),
396.
Booz, Allen &Hamilton(1997) ``Internet banking: a global study of potential'',
Booz,Allen & Hamilton Inc., New York, NY.
114
Bradley, Christopher. "The interconnection between religious fundamentalism,
spirituality, and the four dimensions of empathy." Review of Religious
Research (2009): 201-219.
Bradley, L. and Stewart, K. (2002), “A Delphi study of the drivers and inhibitors of
internetbanking”, International Journal of Bank Marketing, Vol. 20 No. 6,
pp. 250‐60.
Bryman, A., & Cramer, D. (2002). Quantitative data analysis with SPSS release 10
for Windows: a guide for social scientists. Routledge.
Bullock, K. R., & Salkind, A. (2011). Valve regulated lead-acid batteries. Linden’s
Handbook of Batteries. 4th ed. New York: McGraw-Hill.
Burgman, M. (2005). Risks and decisions for conservation and environmental
management. Cambridge University Press.
Burn, J. M. (1995). The new cultural revolution: the impact of EDI on Asia.
JournalOfGlobalInformation Management (JGIM), 3(4), 16-23.
Cameron, A. C., & Windmeijer, F. A. (1997). An R-squared measure of goodness
of fit for some common nonlinear regression models. Journal of
Econometrics, 77(2), 329-342.
Castañeda, J. A., Muñoz-Leiva, F., &Luque, T. (2007). Web Acceptance
Model(WAM): Moderating effects of user experience. Information
&Management, 44(4), 384-396.
Çelik, H. (2008), “What determines Turkish consumers’ acceptance of
Internetbanking?”, International Journal of Bank Marketing , Vol. 26 No. 5,
pp. 353-370.
Centeno, C. (2003). Adoption of Internet Services in the Enlarged European
Union.European Commission Research Centre, June.
Central Bank of Malaysia, (2011), Guidelines for e-Banking sector,
http://www.bnm.gov.my/view.p hp?dbIndex=0&website_id=1&id=14,
viewed on 21 June 2010.
Chang, M.K. and Cheung, W. (2001), “Determinants of the intention to use
Internet/wwwat work: a confirmatorystudy”, Information&Management,
Vol. 39 No. 1, pp. 1-14.
Chang, P.V. (2004), “The validity of an extended technology acceptance model
(TAM) for predicting intranet/portal usage”, University of North Carolina,
Chapel Hill, NC.
115
Chau, S.V. and Ngai, L.C.L.W. (2010) ‘The youth market for internet banking
services: perceptions, attitude and behaviour’, Journal of Services
Marketing, Vol. 24, No. 1, pp.42–60.
Chellappa, R. (2003). Consumers’ trust in electronic commerce transactions
(Working
Chen, P. S. D., Gonyea, R. M., Sarraf, S. A., BrckaLorenz, A., Korkmaz, A.,
Lambert, A. D., ... & Williams, J. M. (2009). Analyzing and interpreting
NSSE data. New Directions for Institutional Research, 2009(141), 35-54.
Chen, Y. H., & Barnes, S. (2007). Initial trust and online buyer behaviour.Industrial
management & data systems, 107(1), 21-36.
Cheng, T. E., Lam, D. Y., &Yeung, A. C. (2006). Adoption of internet banking:
anempirical study in Hong Kong. Decision support systems, 42(3), 1558-
1572.
Chin, W. W. (1998). Commentary: Issues and opinion on structural equation
modeling.
Chiou, J.S. and Shen, C.C. (2012), “The antecedents of online financial service
acceptance: the impact of physical banking services on Internetbanking
acceptance”, Behaviour and Information Technology, Vol. 31 No. 9,
pp. 859-871.
Chong, A.Y. , Ooi, K. , Lin, B. and Tan, B. (2010), “Online banking adoption: an
empirical analysis”, International Journal of Bank Marketing , Vol. 28 No. 4,
pp. 267-287.
Chou, D. and Chou, A.Y. (2000).A guide to the Internet revolution in banking.
Information Systems Management ,17(2): 51-57.
Chua, Y. (2006). Research Methodology. Malaysia: McGraw-Hill Sdn. Bhd.
Chuang, C. C., & Hu, F. L. (2011).An empirical study of customers’ perception ofe-
banking service based on time usage.Journal of Internet Banking and
Commerce, 16(2), 2011-08.
Chung, W., &Paynter, J. (2002, January).An evaluation of Internet banking in New
Zealand. InSystem Sciences, 2002.HICSS. Proceedings of the 35th Annual
Hawaii International Conference on (pp. 2410-2419). IEEE.
Cooper, D. R., & Schindler, P. S. (2011). Business research methods.
Cramer, D. (2003). Advanced quantitative data analysis. McGraw-Hill Education
(UK).
116
Cranor, L. F., Reagle, J., & Ackerman, M. S. (2000). Beyond concern:
Understanding net users' attitudes about online privacy. The Internet
upheaval: raising questions, seekinganswers in communications policy, 47-
70.
Cranor, L.F., Reagle, J. and Ackerman, M.S. (1999), “Beyond concern:
understanding net users ‘attitudes about online privacy”, technical report,
TR 99.4.3, AT&T Labs –
Research,availablewww.research.att.com/resources/trs/TRs/99/99.4/99.4.3/r
eport.htm.
Crede, A. (1998). International banking and the Internet.Banking and Finance on
the Interne t,271-305.
Creswell, J. W., & Clark, V. L. P. (2007). Designing and conducting mixed
methods research.
Cunningham, S. M. (1967). The major dimensions of perceived risk.Risk taking and
Information handling in consumer behaviour, 82-108.
Currall, S. C., & Judge, T. A. (1995).Measuring trust between organizational
boundary role persons. Organizational behaviour and Human Decision
processes, 64(2), 151-170.
Daniel, E. (1999). Provision of electronic banking in the UK and the Republic of
Ireland. International Journal of bank marketing, 17(2), 72-83.
Daniel, E. and Storey, C. (1997), “Online banking: strategic and management
challenges”, LongRange Planning, Vol. 30 No. 6, pp. 890‐98.
Daniel, P. E. Z., & Jonathan, A. (2013). Factors affecting the adoption of online
bankinginGhana: implications for bank managers. International Journal of
Business and Social Research, 3(6), 94-108.
Dash, M., Bhusan, M. B., Kanta, B. S., &Suryakanta, M. (2012). Understanding
consumers’ risks perception for banking on the Internet. International
Journal of Engineering and Management Sciences, 3(2), 146-150.
Davis, F. D. (1989). Perceived usefulness, perceived ease of use, and user
acceptance of information technology. MIS quarterly, 319-340.
Davis, F. D., Bagozzi, R. P., &Warshaw, P. R. (1989). User acceptance of computer
technology: a comparison of two theoretical models. Management science,
35(8), 982-1003.
117
Davis, F. D., Bagozzi, R. P., &Warshaw, P. R. (1992).Extrinsic and intrinsic
motivation to use computers in the workplace1.Journal of applied social
psychology, 22(14), 1111-1132.
Davis, F.D. Jr (1986), “A technology acceptance model for empirically testing new
end‐user information systems: theory and results”, DoctorAL dissertation,
Sloan School of Management, Massachusetts Institute
Technology, Cambridge. Of
Dawes, J. and Rowley, J. (1998), “Enhancing the customer experience:
contributions From information technology”, Management Decision, Vol. 36
No. 6, pp. 350-357.
Devi Juwaheer, T., Pudaruth, S., &Ramdin, P. (2013). Factors influencing the
adoption of internet banking: a case study of commercial banks in Mauritius.
World Journal of Science, Technology and Sustainable Development, 9(3),
204-234.
Eriksson, K., Kerem, K. and Nilsson, D. (2005), “Customer acceptance of internet
banking in Estonia”, International Journal of Bank Marketing, Vol. 23 No. 2,
pp. 200-16.
Eurostat 2015) Individuals using the internet for internet banking.
Eze, U. C., Manyeki, J. K., Yaw, L. H., & Har, L. C. (2011, February). Factors
affecting internet banking adoption among young adults: Evidence from
Malaysia. In International conference on social science and Humanity(Vol.
5, No. 1, pp. 377-381).
Factbrowser (2015) Online Banking Facts and Statistics.
Farzianpour, F., Pishdar, M., Shakib, M. D., & Toloun, M. R. S. H. (2014).
consumers' perceived risk and its effect on adoption of online banking
services. American Journal of Applied Sciences,11(1), 47.
Featherman, M. S., &Pavlou, P. A. (2003).Predicting e-services adoption: a
perceived risk facets perspective. International journal of human-computer
studies, 59(4), 451-474.
Fishbein, M., &Ajzen, I. (1975) Belief, attitude, intention and behavior.Boston:
Addison-Wesley.Ford, E. S., Merritt, R. K., Health, G. W., Powell, K.E.,
Washburn, R. A., Kriska, A., & Haile, G. (1991).
118
Flavián, C. and Guinalíu, M. (2006), “Consumer trust, perceived security and
Privacy, policy: three basic elements of loyalty to a web site”, Industrial
Management & Data Systems., Vol. 106 Nos 5/6, pp. 601‐20.
Foon, Y. S., &Fah, B. C. Y. (2011). Internet banking adoption in Kuala Lumpur: an
application of UTAUT model. International Journal of Business and
Management, 6(4), p161.
Forrester Research (2009), “Internet banking is booming”, available at:
www.internet-bankingcom/tag/gartner-group/ (accessed March 2010).
Forsythe, S. M., & Shi, B. (2003).Consumer patronage and risk perceptions in
Internet shopping. Journal of Business Research, 56(11), 867-875.
Fowler Jr, F. J. (2013). Survey research methods. Sage publications.
Frazier, P. A., Tix, A. P., & Barron, K. E. (2004). Testing moderator and mediator
effects in counseling psychology research. Journal of counseling
psychology, 51(1), 115.
Friedman, B., Khan Jr, P. H., & Howe, D. C. (2000). Trust online.Communications
of the ACM, 43(12), 34-40.
Friendly, M., & Kwan, E. (2003). Effect ordering for data displays. Computational
statistics & data analysis, 43(4), 509-539.
Gates, T., & Jacob, K. (2009). Payments Fraud: Perception Versus Reality
Conference summary. Economic Perspectives, 33(1), 7-15.
Gefen, D. and Keil, M. (1998), “The impact of developer responsiveness on
perceptions of usefulness and ease of use: an extension of the technology
acceptance model”, DATA BASE, Vol. 29 No. 2, pp. 35‐49.
Gefen, D., Karahanna, E., & Straub, D. W. (2003). Trust and TAM in online
shopping: an integrated model. MIS quarterly, 27(1), 51-90.
George, A., & Kumar, G. G. (2014). Impact of service quality dimensions in internet
banking on customer satisfaction. Decision, 41(1), 73-85.
Gerrard, P. and Cunningham, J.B. (2003), “The diffusion of internet banking among
Singapore consumers”, International Journal of Bank Marketing, Vol. 21
No. 1, pp. 16-28.
Giglio, V. (2002). Privacy in the world of cyberbanking: emerging legal issues and
how you are protected. Secured Lender, 58(2), 48-61.
119
Giovanis, A. N., Binioris, S., & Polychronopoulos, G. (2012). An extension of
TAM model with IDT and security/privacy risk in the adoption of internet
banking services in Greece. Euro Med Journal of Business, 7(1), 24-53.
Goh, H. P. (1995). The diffusion of Internet in Singapore: a content analytic
approach. Faculty of Business Administration, National University of
Singapore, 96.
Goodwin, C. (1991). Privacy: Recognition of a consumer right. Journal of Public
Policy& Marketing, 149-166.
Gounaris, S. and Koritos, C. (2008), “Investigating the drivers of internet banking
adoption decision: a comparison of three alternative
frameworks”, International Journal of Bank Marketing, Vol. 26 No. 5,
pp.282‐304.
Guinalíu, Casalo, L. V., Flavián, C., &, M. (2007).The role of security, privacy,
usability and reputation in the development of online banking. Online
Information Review, 31(5), 583-603.
Guraau, C. (2002). Online banking in transition economies: the implementation and
development of online banking systems in Romania. International Journal of
Bank Marketing, 20(6), 285-296.
Guriting, P., &OlyNdubisi, N. (2006). Borneo online banking: evaluating customer
perceptions and behavioral intention. Management research news, 29(1/2),
6-15.
Hair, J. F., Andreson, R. E., Tatham, R. L., & Black, W. C. (1998). Multivariate
data analysis. 5th (ed) Prentice-Hall Inc. Unites States of America.
Hair, J. F., Black, W. C., Babin, B. J., Anderson, R. E., & Tatham, R. L. (2006).
Multivariate data analysis (Vol. 6). Upper Saddle River, NJ: Pearson
Prentice Hall.
Hamid, M. R. A., Amin, H., Lada, S., & Ahmad, N. (2007). A comparative analysis
of Internet banking in Malaysia and Thailand. Journal of Internet Business,
4(1), 1-19.
Hanafizadeh, P., Keating, B. W., & Khedmatgozar, H. R. (2014). A systematic
review of Internet banking adoption. Telematics and informatics, 31(3), 492-
510.
120
Haque, A. K. M., Tarofder, A. K., Rahman, S., &Raquib, M. (2009). Electronic
transaction of internet banking and its perception of Malaysian online
customers. African Journal of Business Management, 3, 248-259.
Harris, H., Guru, B. K., &Avvari, M. V. (2011). Evidence of Firms’ Perceptions
Toward Electronic Payment Systems (EPS) in Malaysia. International
Journal of Business and Information, 6(2), 226-245.
Hernandez, J.M.C. and Mazzon, J.A. (2007), “Adoption of internet banking:
proposition And implementation of an integrated methodology approach”,
International Journal of Bank Marketing, Vol. 25 No. 2, pp. 72-88.
Hettiarachchi, H. A. H. (2014). Factors affecting to customer adoption of internet
banking. Kelaniya Journal of Management, 2(2).
Ho, C.‐T.B. and Wu, D. (2009), “Online banking performance evaluation using data
envelopment analysis and principal component analysis”, Computers &
Operations Research, Vol. 36 No. 6, pp.1835‐42.
Hoffman, D. L., Novak, T. P., & Peralta, M. (1999).Building consumer trust online.
Communications of the ACM, 42(4), 80-85.
Hoffman, D.L. and Novak, T.P. (1998), “Trustbuilders trustbusters”, The Industry
Standard, May.
Hoffmann, A. O., & Birnbrich, C. (2012). The impact of fraud prevention on bank-
customer relationships: An empirical investigation in retail
banking. International journal of bank marketing, 30(5), 390-407.
Holmbeck, G. N. (1997). Toward terminological, conceptual, and statistical clarity
in the study of mediators and moderators: examples from the child-clinical
and pediatric psychology literatures. Journal of consulting and clinical
psychology, 65(4), 599.
Howcroft, B., & Durkin, M. (2000).Reflections on bank–customer interactions inthe
new millennium. Journal of Financial Services Marketing, 5(1), 9-20.
Howcroft, B., Hamilton, R., &Hewer, P. (2002).Consumer attitude and the usage
and adoption of home-based banking in the United Kingdom.International
journal of bank marketing, 20(3), 111-121.
Howcroft, J.B. and Lavis, J. (1986), “A strategic perspective on delivery systems in
UK retail banking,” The Service Industries Journal, Vol. 6 No. 2, pp. 144‐
58.
121
Hu, P. J., Chau, P. Y., Sheng, O. R. L., & Tam, K. Y. (1999). Examining the
technology acceptance model using physician acceptance of telemedicine
technology. Journal of management information systems, 91-112.
Hutchinson, D., & Warren, M. (2003). Security for internet banking: a
framework. Logistics Information Management, 16(1), 64-73.
Ibrahim, A. S., Khan, A. H., Rahman, M. K., &Ramezanie, E. (2013).Accessing the
effectiveness of online shopping among Malaysian consumers. Australian
Journal of Basic and Applied Sciences, 7(7), 603-612.
Igbaria, M., Iivari, J., &Maragahh, H. (1995). Why do individuals use
computertechnology? A Finnish case study.Information& management,
29(5), 227-238.
Igbaria, M., Schiffman, S. J., &Wieckowski, T. J. (1994).The respective roles of
perceived usefulness and perceived fun in the acceptance of microcomputer
technology. Behaviour & Information Technology, 13(6), 349-361.
internet banking services in China: is it all about trust?. International Journal of
Jacoby, J., & Kaplan, L. B. (1972).The components of perceived risk.Advances in
consumer research, 3(3), 382-383.
Jahangir, N. and Begum, N. (2008), “The role of perceived usefulness, perceived
easeOf use, security and privacy, and consumer attitude to engender
consumer adoption in the context of electronic banking”, African Journal of
Business Management , Vol. 2 No. 1, pp. 32-40.
Jalil, M. A., Talukder, M., &Rahman, M. K. (2014).Factors Affecting Customer’s
Perceptions Towards Online Banking Transactions in Malaysia.JBM, 25.
Jaruwachirathanakul, B., & Fink, D. (2005). Internet banking adoption strategies for
developing country: the case of Thailand. Internet research, 15(3), 295-311.
Jarvenpaa, S. L., Tractinsky, N., & Saarinen, L. (1999). Consumer trust in an
internet store: a cross‐cultural validation. Journal of Computer‐Mediated
Communication, 5(2), 0-0.
Jayashree, S., Salehi, F., Abdollahbeigi, B., & Malarvizhi, C. A. (2016). Factors
Influencing Intention to use E-Government Services among Iran
Citizens. Indian Journal of Science and Technology, 9(34).
Jayawardhena, C. and Foley, P. (2000), “Changes in the banking sector – the case of
internet banking in the UK”, Internet Research, Vol. 10 No. 1, pp. 19-31.
122
Jeyaraj, A., Rottman, J.W. and Lacity, M.C. (2006), “A review of the predictors,
linkages and biases in IT innovation adoption research”, Journal of
Information Technology, Vol. 21 No. 1, pp. 1‐23.
Jo Black, N., Lockett, A., Ennew, C., Winklhofer, H., &McKechnie, S. (2002).
Modelling consumer choice of distribution channels: an illustration from
financial services. International Journal of Bank Marketing, 20(4), 161-173.
Jun, M., &Cai, S. (2001). The key determinants of internet banking service quality:
a contentanalysis. International journal of bank marketing, 19(7), 276-291.
Kalakota, R., &Whinston, A. B. (1997).Electronic commerce: a manager's guide.
Addison-Wesley Professional.
Kamarulzaman, Y. (2007), “Adoption of travel e-shopping in the
UK”,InternationalJournal ofRetail& Distribution Management, Vol. 35 No.
9, pp. 703-19.
Kaplan, L. B., Szybillo, G. J., & Jacoby, J. (1974). Components of perceived risk in
product purchase: A cross-validation. Journal of applied
Psychology,59(3),287.
Karjaluoto, H., Koivumäki, T., &Salo, J. (2003, January). Individual differences in
private banking: Empirical evidence from Finland. In System Sciences,
2003.Proceedings of the 36th Annual Hawaii International Conference
on (pp. 9-pp).IEEE.
Kasemsan, K., & Hunngam, N. (2011). Internet banking security guideline model
for banking in Thailand. Communications of the IBIMA.
Kaynak, E., &Harcar, T. D. (2005). Consumer attitudes towards online banking: a
newstrategic marketing medium for commercial banks. International Journal
of Technology Marketing, 1(1), 62-78.
Kesharwani, A. and Tripathy, T. (2012), “Dimensionality of perceived risk and It
impaction Internet banking adoption: an empirical investigation Services
Marketing Quarterly , Vol. 33 No. 2, pp. 177-193.
Kesharwani, A.andBisht, S.S.(2012), “The impact of trust and perceived risk on
Internet banking adoption in India: an extension of technology acceptance
model”, International Journal of Bank Marketing, Vol. 30 No. 4, pp.303-
322.
123
Kettle, N. P., & Dow, K. (2016). The role of perceived risk, uncertainty, and trust
on coastal climate change adaptation planning. Environment and
Behavior, 48(4), 579-606.
Khalfan, A. M. S., AlRefaei, Y. S., & Al-Hajery, M. (2006). Factors influencing the
adoption of Internet banking in Oman: a descriptive case study analysis.
International Journal of Financial Services Management,1(2-3), 155-172.
Khalfan, A. M., & Alshawaf, A. (2004). Adoption and implementation problems of
e-banking: a study of the managerial perspective of the banking industry in
Oman. Journal of Global Information Technology Management, 7(1), 47-64.
Khalil, Nor, M., Sutanonpaiboon, J., & HamimahMastor, N. (2010). Malay,
Chinese, and internet banking.Chinese Management Studies, 4(2), 141-153.
Kim, D. J., Ferrin, D. L., & Rao, H. R. (2008). A trust-based consumer decision-
making model in electronic commerce: The role of trust, perceived risk, and
their antecedents. Decision support systems, 44(2), 544-564.
Kim, K., &Prabhakar, B. (2000, December).Initial trust, perceived risk, and the
adoption of internet banking. In Proceedings of the twenty first international
conference on Information systems (pp. 537-543).Association for
Information Systems.
Kline, R. B. (2011). Principles and practice of structural equation modeling.
2011. New York: Guilford Press Google Scholar.
Kolodinsky, J. M., Hogarth, J. M., &Hilgert, M. A. (2004).The adoption of
electronic banking technologies by US consumers. International Journal of
Bank Marketing, 22(4), 238-259.
Kolsaker, A. and Payne, C. (2002), “Engendering trust in e-commerce: a study of
gender-Based concerns”, Marketing Intelligence and Planning, Vol. 20 No.
4, pp. 206-14.
Kotze, D. J., Zeeman, L., Niehaus-Coetzee, E., & Roux, J. P. (2014). Back@ Work:
Managing Change Following Unprotected Industrial Action in the Mining
Industry.
Koufaris, M., & Hampton-Sosa, W. (2004).The development of initial trust in an
online company by new customers. Information & management, 41(3), 377-
397.
Krejcie, R. V., & Morgan, D. W. (1970). Determining sample size for research
activities. EducPsychol Meas.
124
Krishanan, D., Khin, A. A., & Teng, K. L. L. (2015). Attitude towards using mobile
banking in Malaysia: a conceptual framework. methods, 11, 12.
Kruck, S.E., Gottovi, D., Moghadami, F., Broom, R. and Forcht, K.A. (2002),
“Protecting personal privacy on the internet”, Information Management &
Computer Security, Vol. 10 No. 2, pp. 77-84.
Kuisma, T., Laukkanen, T., & Hiltunen, M. (2007). Mapping the reasons for
resistance to Internet banking: A means-end approach. International Journal
of Information Management, 27(2), 75-85.
Kumra, R., & Mittal, R. K. (2004). Trust and its Determinants in Internet Banking:
A Study of Private Sector Banks in India.Decision (0304-0941), 31(1).
Kuzic, J., Fisher, J., & Scollary, A. (2002). Electronic commerce benefits,
challenges and success factors in the Australian banking and finance
industry. ECIS 2002 Proceedings, 60.
Laforet, S., & Li, X. (2005). Consumers' attitudes towards online and mobile
banking in China. International journal of bank marketing, 23(5), 362-380.
Lai, V. and Li, H. (2005), “Technology acceptance model for Internet banking: an
invariance analysis”,information Management , Vol. 42 No. 2, pp. 373-386.
Laukkanen, T. (2007). Internet vs mobile banking: comparing customer value
perceptions. Business Process Management Journal, 13(6), 788-797.
Laukkanen, T. (2016). Consumer adoption versus rejection decisions in seemingly
similar service innovations: The case of the Internet and mobile
banking. Journal of Business Research, 69(7), 2432-2439.
Lederer, A. L., Maupin, D. J., Sena, M. P., &Zhuang, Y. (2000). The technology
acceptance model and the World Wide Web. Decision support
systems, 29(3), 269-282.
Lee, E., Kwon, K. and Schumann, D. (2005), “Segmenting the non-adopter category
in The diffusion of internet banking”, International Journal of Bank
Marketing, Vol. 23 No. 5, pp. 414-37.
Lee, J. E. R., Rao, S., Nass, C., Forssell, K., & John, J. M. (2012). When do online
shoppers appreciate security enhancement efforts? Effects of financial risk
and security level on evaluations of customer authentication. International
Journal of Human-Computer Studies, 70(5), 364-376.
125
Lee, K. W., Tsai, M. T., &Lanting, M. C. L. (2011). From marketplace to market
space: Investigating the consumer switch to online banking.Electronic
Commerce Research and Applications, 10(1), 115-125.
Lee, M. K., & Turban, E. (2001).A trust model for consumer internet shopping
International Journal of electronic commerce, 6(1), 75-91.
Lee, M.C. (2009), “Factors influencing the adoption of Internet banking: an
integration Of TAM and TPB with perceived risk and perceived
benefit”, Electronic Commerce Research and Applications, Vol. 8 No. 3,
pp.130-141.
Lee, Y. H., Hsieh, Y. C., & Hsu, C. N. (2011). Adding Innovation Diffusion Theory
to the Technology Acceptance Model: Supporting Employees' Intentions to
use E-Learning Systems. Educational Technology & Society, 14(4), 124-
137.
Levi, M. (2016). Assessing the trends, scale and nature of economic cybercrimes:
overview and Issues. Crime, Law and Social Change, 1-18.
Liao, S., Shao, Y. P., Wang, H., & Chen, A. (1999). The adoption of virtual
banking: an empirical study. International journal of information
management,19(1), 63-74.
Liao, Z., & Cheung, M. T. (2002). Internet-based e-banking and consumer attitudes:
an empirical study. Information & Management, 39(4), 283-295.
Lichtenstein, S., & Williamson, K. (2006). Understanding consumer adoption of
internet banking: an interpretive study in the Australian banking context.
Journal of Electronic Commerce Research, 7(2), 50-66.
Lifen Zhao, A., Koenig-Lewis, N., Hanmer-Lloyd, S., & Ward, P. (2010). Adoption
of
Lin, W. B. (2008). Investigation on the model of consumers’ perceived risk—
integrated viewpoint. Expert Systems with Applications, 34(2), 977-988.
link between reputatuion and exchange relationships of eBay traders. ACIS 2002
Proceedings, 94.
Littler, D. and Melanthiou, D. (2006), “Consumer perceptions of risk and
uncertainty And the implications for behavior towards innovative retail
services: the case of internet banking”, Journal of Retailing and Consumer
Services, Vol. 13 No. 6, pp. 431-43.
126
Loyd, G. G. (2007). Internet banking adoption by Chinese American: an empirical
study on Banks customers from Chinese and American PP 79-102, 134-155.
Lu, J., Yu, C.S., Liu, C. and Yao, J.E. (2003), “Technology acceptance model for
wireless internet”, Internet Research, Vol. 13 No. 3, pp. 206-22.
Luthans, F., Avolio, B. J., Walumbwa, F. O., & Li, W. (2005). The psychological
capital of Chinese workers: Exploring the relationship with
performance. Management and Organization Review, 1(2), 249-271.
Lymperopoulos, C., &Chaniotakis, I. E. (2004).Branch employees' perceptions
towards implications of e-banking in Greece. International Journal of Retail
& Distribution Management, 32(6), 302-311.
Madu, C. N., &Madu, A. A. (2002).Dimensions of e-quality. International Journalof
Quality& reliability management, 19(3), 246-258.
Mäenpää, K., Kale, S. H., Kuusela, H., & Mesiranta, N. (2008). Consumer
perceptions of Internet banking in Finland: The moderating role of
familiarity. Journal of retailing and consumer services, 15(4), 266-276.
Malphrus, S. (2009). Perspectives on retail payments fraud. Perspectives on Retail
Payments Fraud (February 11, 2009). Economic Perspectives, 33(1).
Mangin, J. P. L. (2014). The moderating role of risk, security and trust applied to
the TAM model in the offer of banking financial services in canada. Journal
of Internet Banking and Commerce, 19(2), 1-21.
Manzano, J.A. , Navarre, C.L. , Mafe, C.R. and Blas, S.S. (2009), “Key drivers of
Internet banking services use”, Online Information Review , Vol. 33 No.
4,pp. 672-695.
March, J. G., & Shapira, Z. (1987). Managerial perspectives on risk and risk
taking. Management science, 33(11), 1404-1418.
Maria Correia Loureiro, S., Rüdiger Kaufmann, H., &Rabino, S. (2014). Intentions
touse and recommend to others: an empirical study of online banking
practices in Portugal and Austria. Online Information Review, 38(2), 186-
208.
Marsh, C. (1982). The survey Method: The Contribution and Surveys to
Sociological Explanation. London: George Allen & Unwin.
Martins, C., Oliveira, T., & Popovič, A. (2014). Understanding the Internet banking
adoption: A unified theory of acceptance and use of technology and perceived
127
risk application. International Journal of Information Management, 34(1), 1-
13.
Martins, C., Oliveira, T., &Popovič, A. (2014).Understanding the Internet banking
adoption: A unified theory of acceptance and use of technology and
perceived risk application. International Journal of Information
Management,34(1), 1-13.
Mattila, A., &Mattila, M. (2005). How perceived security appears in the
commercialization of internet banking. International Journal of Financial
Services Management, 1(1), 89-101.
Mauro C. Hernandez, J., &AfonsoMazzon, J. (2007). Adoption of internet banking:
proposition and implementation of an integrated methodology approach.
International Journal of Bank Marketing, 25(2), 72-88.
Mayer, R.C., Davis, J.H. and Schoorman, F.D. (1995), “An integrative model of
organizational trust”, Academy of Management Review, Vol. 20 No. 3, pp.
709-34.
Mcknight, D.H. , Cummings, L.L. and Chervany, N.L. (1998), “Initial trust For
Mationin new organizational relationships”, Academy of Management
Review , Vol. 23 No. 3, pp. 473-490.
MdNor, K., & Pearson, J. M. (2007).The Influence of Trust on Internet
BankingAcceptance.Journal of Internet Banking & Commerce, 12(2).
Medway, F. J., & Cafferty, T. P. (2013). School psychology: A social psychological
perspective. Routledge.
Miyazaki, A. D., & Fernandez, A. (2001).Consumer perceptions of privacy and
security Risks for online shopping. Journal of Consumer affairs, 35(1), 27-
44.
Mols, N. P. (1998).The behavioral consequences of PC banking. International
Journal of Bank Marketing, 16(5), 195-201.
Mols, N.P. (1999), “The Internet and the banks’ strategic distribution channel
decisions,“ International Journal of Bank Marketing, Vol. 17.No. 6, pp. 295‐
300.
Moon, J. W., & Kim, Y. G. (2001).Extending the TAM for a World-Wide-Web
context. Information & management, 38(4), 217-230.
128
Mortimer, G., Neale, L., Hasan, S. F. E., & Dunphy, B. (2015). Investigating the
factors influencing the adoption of m-banking: a cross cultural
study. International Journal of Bank Marketing, 33(4), 545-570.
Mukaka, M. M. (2012). A guide to appropriate use of Correlation coefficient in
medical research. Malawi Medical Journal, 24(3), 69-71.
Mukherjee, A., &Nath, P. (2003).A model of trust in online relationship
banking. International Journal of Bank Marketing, 21(1), 5-15.
Munusamy, J., Annamalah, S., & Chelliah, S. (2012). A Study of Users and Non-
Users of Internet Banking in Malaysia. International Journal of Innovation,
Management and Technology, 3(4).
Munusamy, J., Annamalah, S., & Chelliah, S. (2012). Perceived barriers of
innovative banking among Malaysian retail banking customers. Journal of
Internet Banking and Commerce, 17(1).
Munusamy, J., Chelliah, S., &Mun, H. W. (2010). Service quality delivery and
itsimpact on customer satisfaction in the banking sector in Malaysia.
International Journal ofInnovation, Management and Technology, 1(4), 398-
404.
Murray, Eva, and Carol Pollard. "Trust in Online Auctions: an exploratory study of
the link between reputatuion and exchange relationships of eBay
traders." ACIS 2002 Proceedings (2002): 94.
Muzividzi, D. K., &RangariraiMbizi, T. (2013). An analysis of factors that
influence internet banking adoption among intellectuals: case of chinhoyi
university of technology. Interdisciplinary journal of contemporary research
in business, 4(11), 350-369.
Nardi, P. M. (2006). Interpreting data: a guide to understanding research New York:
Pearson.
Nasri, W. (2011).Factors influencing the adoption of internet banking in
Tunisia.International Journal of Business and Management, 6(8), p143.
Nasri, W., &Charfeddine, L. (2012). Factors affecting the adoption of Internet
banking in Tunisia: An integration theory of acceptance model and theory of
planned behavior. The Journal of High Technology Management Research,
23(1), 1-14.
129
Ndubisi, N. O., Supinah, R., & Guriting, P. (2004, December). The extended
technology acceptance model and internet banking usage intention. In
International Logistics Congress Proceeding, Turkey (pp. 973-988).
Ndubisi, N.O., Sinti, Q. and Chew, T.M. (2004), ‘‘Evaluating internet banking
adoption in Malaysia using the decomposed theory of planned behaviour’’,
International Logistics Congress Proceeding, Izmir, December 2-3, pp. 989-
1004.
Neuman, L. W. (2012). Understanding Reasearch. United States of America:
Pearson Education International.
Newman, I., & Benz, C. R. (1998). Qualitative-quantitative research methodology:
Exploring the interactive continuum. SIU Press.
Nielsen, J., Tahir, M., &Tahir, M. (2002). Homepage usability: 50 websites
deconstructed (Vol. 50). Indianapolis, IN: New Riders.
Nissenbaum, H. (2004). Will Security Enhance Trust online, or supplant it?.
Nor, K. M., & Pearson, J. M. (2008). An exploratory study into the adoption of
internet banking in a developing country: Malaysia. Journal of Internet
Commerce, 7(1), 29-73.
Nor, M.K. , Janejira, S. and Nor, H.M. (2010), “Malay, Chinese, and Internet
banking”, Chinese Management Studies , Vol. 4 No. 2, pp. 141-153.
Norazah, M. (2010). An Empirical study of factors affecting the internet banking
adoption nAmong Malaysian consumers (JIBC)vol. 15, no.2 pp 24-32.
Nowak, G. J., & Phelps, J. (1997). Direct marketing and the use of individual- level
consumer information: Determining how and when “privacy” matters.
Journal of Interactive Marketing, 11(4), 94-108.
Nui Polatoglu, V., &Ekin, S. (2001).An empirical investigation of the
Turkishconsumers ‘acceptance of Internet banking services. International
journal of bank marketing, 19(4), 156-165.
Nunnally, J. C., & Bernstein, I. H. (1994). I.(1994). Psychometric theory.
Nwankwo, O. (2013). Implications of Fraud on Commercial Banks Performance in
Nigeria.International Journal of Business and Management, 8(15), 144.
Oghenerukevbe, E. A. (2008). Perception of Security Indicators in Online Banking
Sites in Nigeria.Available at SSRN 1290522.
Oh, S. (2006, January). A stakeholder perspective on successful electronic payment
Systems diffusion. In System Sciences, 2006.HICSS'06.Proceedings of the
130
39th Annual Hawaii International Conference on(Vol. 8, pp. 186b-
186b).IEEE.
Okoro, G. (2003). An Investigation of Fraud in Banks.An Unpublished Thesis of
University of Lagos.
OlyNdubisi, N.,&Sinti, Q. (2006). Consumer attitudes, system's
characteristicsandinternetbanking adoption in Malaysia. Management
Research News, 29(1/2), 16-27.
Ong, C. S., & Lin, Y. L. (2015). Security, RISK, and Trust in Individuals'Internet
Banking
Onwuegbuzie, A. J., & Leech, N. L. (2006). Linking Research Questions to Mixed
Methods Data Analysis Procedures 1. The Qualitative Report, 11(3), 474-
498.
Orad, A. (2010), “Combat fraud with flexible strategies”, American Banker, Vol.
175No. 184, p. 9.
Owolabi, S. A. (2010). Fraud and fraudulent practices in Nigeria banking
industry. African Research Review, 4(3).
Page, C. and Luding, Y. (2003), “Bank managers' direct marketing dilemmas –
customers ‘attitudes and purchase intention”, International Journal of Bank
Marketing, Vol. 21 No. 3, pp. 147‐63.
Paper, ebizlab). Marshall School of Business, USC.
Pavlou, P.A. (2003), “Consumer acceptance of electronic commerce: integrating
trustan dris k with the technology acceptance model”, International Journal
of ElectronicCommerce,7(3), 101-34.
Pearce, J. A., & Robinson, R. B. (2000). Strategic management: Formulation,
implementation,andcontrol.Irwin/McGraw-Hill.
Perumal, V. (2004). Shanmugan.,“Internet Banking: Boone or Bane,”. Journal of
Internet Banking and Commerce, 19(3).
Peter, J. P. (1979). Reliability: A review of psychometric basics and recent
marketing practices. Journal of marketing research, 6-17.
Peter, J. P., & Ryan, M. J. (1976).An investigation of perceived risk at the brand
level Journalof marketing research, 184-188.
Peterson, P.T. (1997), “Doing business in a web-based world”, Mortgage Banking,
Vol. 58 No. 2, pp. 58-68.
131
Pikkarainen, T., Pikkarainen, K., Karjaluoto, H., &Pahnila, S. (2004). Consumer
acceptance of online banking: an extension of the technology acceptance
model. Internet research, 14(3), 224-235.
Polatoglu, V.N. and Ekin, S. (2001) ‘An empirical investigation of the Turkish
consumers ‘acceptance of internet banking services’, InternationalJournal of
Bank Marketing, Vol. 19,No. 4, pp.156–165.
Poon, W.C. (2007), “Users’ adoption of e-banking services: the Malaysian
perspective”, Journal of Business & Industrial Marketing, Vol. 23 No. 1, pp.
59-69.
Pyun, C. S., Scruggs, L., & Nam, K. (2002).Internet banking in the US, Japanand
Europe. Multinational Business Review, 10(2), 73.
Rahman, M. K., Jalil, M. A., &Robel, S. D. (2014).Factors influencing Malaysi an
consumers 'intention towards e-shopping. Journal of Applied
Sciences, 14(18), 2119.
Ramayah, T., Jantan, M., Mohd Noor, M. N., Razak, R. C., &Koay, P. L.
(2003).Receptiveness of internet banking by Malaysian consumers: The case
of Penang. Asian Academy of Management Journal, 8(2), 1-29.
Ratnasingham, P. (1998). The importance of trust in electronic commerce. Internet
research, 8(4), 313-321.
Rauyruen, P., & Miller, K. E. (2007).Relationship quality as a predictor of
B2Bcustomer loyalty. Journal of business research, 60(1), 21-31.
Reavley, N. (2005), “Securing online banking”, Card Technology Today, Vol. 17
No. 2, pp. 2-3.
Rogers, E.M. (1995), Diffusion of Innovations, 4th ed., The Free Press, New York,
NY.
Rogers, E.M. (1983), Diffusion of Innovations , Free Press, New York, NY.
Romi, I. M. (2015).Mapping E-banking Models to New Technologies. Journal of
Internet Banking& Commerce, 20(2).
Roselius, T. (1971).Consumer rankings of risk reduction methods.The journal of
marketing, 56-61.
Safeena, R., & Date, H. (2010). Customer perspectives on e-business value: case
studyon internet banking. Journal of Internet Banking and commerce, 15(1),
1-13.
132
Sahut, J. M., & Kucerova, Z. (2015). Enhance internet banking service quality with
quality function deployment approach. The Journal of Internet Banking and
Commerce, 2003.
Saleh, Z. I. (2011). Improving security of online banking using
RFID.AcademyofBankingStudies Journal, 10(2), 1.
Salkind, Bullock, K. R., &, A. (2011). Valve regulated lead-acid batteries.
Linden’sHandbook of Batteries. 4th ed. New York: McGraw-Hill.
Salkind, N. J. (2012). Test & Measurement for People who (think they) Hate Tests
& Measurements. Kansas: SAGE Publications, INC.
Samsudin W., &NorAzila, M. (2009). Technology Trust Banking Adoption: The
Mediating effect of Customer Relationship Management Performance; The
Asian of Technology Management vol,2 no,2 1-10.
San Ong, T., Hong, Y. H., Teh, B. H., Soh, P. C., & Tan, C. P. (2014). Factors That
Affect the Adoption of Internet Banking in Malaysia.International Business
Management, 8(2), 55-63.
Sanayei, A., & Noroozi, A. (2009, April). Security of internet banking services and
its linkage with users' trust: A case study of Parsian bank of Iran and CIMB
bank of Malaysia. In Information Management and Engineering, 2009.
ICIME'09. International Conference on (pp. 3-7). IEEE.
Sarel, D., & Marmorstein, H. (2003). Marketing online banking services: the voice
of the customer. Journal of Financial Services Marketing, 8(2), 106-118.
Sathye, M 1999, Adoption of Internet banking by Australians Consumers: An
Empirical
Investigation, International Journal of Bank Marketing, vol 17, no. 7, pp.
324-334.
Saunders, M. Lewis. P. & Thornhill A,(2009) Research Methods for Business
Students. Person Education Limited.
Schlosser, A.E., White, T.B. and Lloyd, S.M. (2006), “Converting web site visitors
into buyers how web site investment increases consumer trusting beliefs and
online purchase intentions”, Journal of Marketing, Vol. 70, April, pp. 133-
48.
Schneider, I. (2001). Is time running out for Internet-only banks?. Bank Systems&
Technology, September, (s 8).
133
Schneier, B. (2011). Secrets and lies: digital security in a networked world. John
Wiley & Sons.
Scott, S. V. (2000). IT-enabled credit risk modernisation: a revolution under the
cloak of normality. Accounting, Management and Information
Technologies, 10(3), 221-255.
Sharma, S.K. and Srikrishna, G. (2014), “Internet banking adoption in India:
structural equation modeling approach”, Journal of Indian Business
Research, Vol. 6 No. 2.
Sheshunoff, A. (2000). Internet banking--An update from the
frontlines.AmericanBankersAssociation.ABA Banking Journal, 92(1), 51.
Shih, Y. Y., & Fang, K. (2004). The use of a decomposed theory of planned
behaviour to study Internet banking in Taiwan. Internet Research, 14(3),
213-223.
Shin, D. H. (2010). The effects of trust, security and privacy in social networking: A
security-based approach to understand the pattern of adoption.Interacting
with computers, 22(5), 428-438.
Sikdar, P., Kumar, A., & Makkad, M. (2015).Online banking adoption: A factor
validation and satisfaction causation study in the context of Indian banking
customers. International Journal of Bank Marketing, 33(6), 760-785.
Singh, S., Singh, D. K., Singh, M. K., & Singh, S. K. (2010). The forecasting of 3G
market in India based on revised Technology Acceptance Model. arXiv
preprint arXiv:1006.3609.
Singhal, D., & Padhmanabhan, V. (2008). A study on customer perception toward s
internet banking: Identifying major contributing factors. Journal of Nepalese
business studies, 5(1), 101-111.
Siu, N. Y. M., &Mou, J. C. W. (2005).Measuring service quality in internet
banking: thecase of HongKong.Journal of International Consumer
Marketing, 17(4), 99-116.
Skinner, H. A., & Sheu, W. J. (1982). Reliability of alcohol use indices. The
Lifetime Drinking History and the MAST. Journal of studies on
alcohol, 43(11), 1157-1170.
Smith, A. D. (2006). Exploring security and comfort issues associated with online
banking. International Journal of Electronic Finance, 1(1), 18-48.
134
Sohail, M. S., & Shaikh, N. M. (2008). Internet banking and quality of service
Perspectives from a developing nation in the Middle East. Sohail, Sadiq M
and Shaikh, (2008), 58-72.
Sohail, M. S., & Shanmugham, B. (2003). E-banking and customer preferences
in Malaysia: An empirical investigation. Information sciences, 150(3), 207-
217.
Srivastava, R. K. (2007). Customer's perception on usage of internet banking.
Innovative Marketing, 3(4), 66-72.
Stajkovic, A. D., & Luthans, F. (1998). Social cognitive theory and self-efficacy:
Goin beyond traditional motivational and behavioral
approaches. Organizational dynamics, 26(4), 62-74.
Stewart, K. (1999), “Transference as a means of building trust in World Wide Web
sites, Proceedings of the 20th ICIS, Charlotte, NC, 13-15 December.
Straub, D., Keil, M., & Brenner, W. (1997). Testing the technology acceptance
model across cultures: A three country study. Information &
management, 33(1), 1-11.
Subsorn, P., &Limwiriyakul, S. (2012). A comparative analysis of internet banking
security in Thailand: A customer perspective. Procedia engineering, 32, 260-
272.
Suganthi, B. (2001). Internet banking patronage: an empirical investigation of
Malaysia.
Suh, B. and Han, I. (2002), “Effect of trust on consumer acceptance of Internet
banking”, Electronic Commerce Research and Applications, Vol. 1 Nos 3/4,
pp. 247-263.
Suki, N. M. (2015). An Empirical Study of Factors Affecting the Internet Banking
Adoption among Malaysian Consumers?. The Journal of Internet Banking
and Commerce, 2010.
Sumanjeet, S. (2009). Emergence of payment systems in the age of electronic
ommerce: Thestate of art. Global Journal of International Business
Research, 2(2).
Tabachnick, B. G., & Fidell, L. S. (2007). Using multivariate statistics,
5th. Needham Height, MA: Allyn & Bacon.
Talukder, M. (2011).Development of an enhanced model of innovation adoption by
individual employees. Journal of Asia-Pacific Business, 12(4), 316-339.
135
Talukder, M., Quazi, A., & Keating, B. (2014). Virtual Systems in Australia: A
Study of Individual Users' Commitments and Usage. Journal of Internet
Commerce, 13(1), 1-21.
Tan, G. W. H., Chong, C. K., Ooi, K. B., & Chong, A. Y. L. (2010).The adoption of
online banking in Malaysia: an empirical analysis. International Journal of
Business and Management, 3(2), 169.
Tan, L. H., Hamid, S. R., & Chew, B. C. (2016). Service quality audit based on
conceptual gaps model of service quality: a case study of top three largest
local bank in Malaysia. International Journal of Productivity and Quality
Management, 18(1), 99-115.
Tan, M. and Teo, S.H.T. (2000) ‘Factors influencing the adoption of internet
banking’ Journal of the Association for Information Systems, Vol. 1, Nos.
1–5.
Tat, H. H., & Nor, K. M. (2015). Predictors of intention to continue using internet
banking services: An empirical study of current users. International Journal
of Business and Information, 3(2).
Taylor, S. and Todd, P. (1995), “Understanding information technology usage: a
test of competing models”, Information Systems Research , Vol. 6 No. 2,
pp. 144-176.
Teo, T. S., Lim, V. K., & Lai, R. Y. (1999). Intrinsic and extrinsic motivation in
Internet usage. Omega, 27(1), 25-37.
thesis (Doctoral dissertation, Lulea University of Technology).
Ting, A. H. (2013). Online banking in Malaysia from consumer perception on
risk(DoctoralDissertation,
Tornatzky, L. G., & Klein, K. J. (1982). Innovation characteristics and innovation
adoption- implementation: A meta-analysis of findings. Engineering
Management, IEEE Transactions on, (1), 28-45.
Touati, K. (2008). Les technologies de l'information et de la communication (TIC):
une chance pour le développement du monde arabe. Géographie, économie,
société, 10(2), 263-284.
Tuchila, R. (2000). Services bancareprin Internet, E-Finance Romania.Journal of e-
business and Information Technology, 231-130.
136
Udo, G. J. (2001). Privacy and security concerns as major barriers for e-commerce:
a survey study. Information Management & Computer Security,9(4), 165-
174.
Vainio, H. M. (2006). Factors Influencing Corporate Customers’Acceptance of
Internet Banking: Case of Scandinavian Trade Finance
Customers. Unpublished M. Sc. Thesis in Accounting. The Swedish School
of Economics and Business Administration.
Varaprasad, G. , Sridharan, R. and Unnithan, A.B. (2013), “Internet banking
adoption ina developing country: an empirical study”, International Journal
of Services and Operations Management , Vol. 14 No. 1, pp. 54-66.
Vatanasombut, B. ,Stylianou, A. and Igbaria, M. (2004), “How to retain online
consumers”, Communications of the ACM , Vol. 47 No. 6, pp. 65-69.
Venkatesh, V. (2000). Determinants of perceived ease of use: Integrating control,
intrinsic motivation, and emotion into the technology acceptance model.
Information systems research, 11(4), 342-365.
Venkatesh, V., Morris, M. G., Davis, G. B., & Davis, F. D. (2003). User acceptance
ofinformation technology: Toward a unified view. MIS quarterly, 425-478.
Wan, W. W., Luk, C. L., & Chow, C. W. (2005). Customers' adoption of banking
channels in Hong Kong. International Journal of bank marketing, 23(3),
255-272.
Wang, Y.S. , Wang, Y.M. , Lin, H.H. and Tang, T.I. (2003), “Determinants of user
Acceptance of Internet banking”, International Journal of Service Industry
Management , Vol. 14 No.5, pp. 501-519.
Warrington, J. A., NAIR, A., MAHADEVAPPA, M., & TSYGANSKAYA, M.
(2000).Comparison of human adult and fetal expression and identification of
535 housekeeping/maintenance genes. Physiological genomics, 2(3), 143-
147.
Westin, A. F., & Maurici, D. (1998).E-commerce & privacy: What net users want.
Hackensack, NJ: Privacy & American Business.
White, H., & Nteli, F. (2004). Internet banking in the UK: Why are there not more
customers?. Journal of Financial Services Marketing, 9(1), 49-56.
Xue, M., Hitt, L. M., & Chen, P. Y. (2011).Determinants and outcomes of internet
banking adoption. Management Science, 57(2), 291-307.
137
Yang, J., Cheng, L., &Luo, X. (2009).A comparative study on e-banking services
between China and USA. International Journal of Electronic
Finance,3(3),235-252.
Yee-Loong Chong, A., Ooi, K. B., Lin, B., & Tan, B. I. (2010).Online banking
adoption: an empirical analysis. International Journal of Bank
Marketing,28(4), 267-287.
Yen, L. H., Malarvizhi, C. A., & Mamun, A. A. (2016). Customer switching
resistance towards internet banking in Malaysia. International Journal of
Business Information Systems, 21(2), 162-177.
Yeung, B. B. (2016). The major determinants of adapting the new unify
communication technology of the large and medium enterprises in China
and Hong Kong-an emperical study.
Yin, R. K. (2003). CASE STUDY RESEARCH: Design and Methods. United
States of America: Sage Publications, INC.
Yiu, C. S., Grant, K., & Edgar, D. (2007). Factors affecting the adoption of Internet
Banking in Hong Kong—implications for the banking sector. International
Journal of Information Management, 27(5), 336-351.
Yousafzai, S., Pallister, J., & Foxall, G. (2009). Multi-dimensional role of trust in
Internet banking adoption. The Service Industries Journal, 29(5), 591-605.
Yu, P. L., Balaji, M. S., &Khong, K. W. (2015). Building trust in internet banking:a
trustworthiness perspective. Industrial Management & Data
Systems, 115(2), 235-252.