Adoption of Internet Banking in Greece, a Consumers’ Perspective
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- 3.3.1 TAM and Internet Based Information Systems
3.3 TAM RecentlyThe following part of the literature review consists mostly of studies conducted during the last six years using TAM. Since Younghwa et al. (2003) conducted a very thorough research about TAM until 2002 it is crucial and useful to present the recent literature emerged the last six years. Many researchers used TAM to examine various technologies. The main goal is to present an overview of these studies and the technologies being studied. The main stream of the literature the last years is concerning internet-based technologies. This is expected since the last years the Internet has exhibited high penetration in our lives. An increasing number of technologies and innovations are built and based on the Internet, which makes it an integral part of these technologies. Furthermore, these studies managed to prove that TAM is a valid model for predicting user’s adoption of advanced technologies. Despite the peculiarities that internet adds, TAM is able, in each case with some additions, to explain adequately the acceptance of these technologies. First of all, it is important to note an major distinction of the information systems. In the literature, there is a major categorization of the information systems, which seems to play important role. Heijden (2004) published an article in MISQ in which he examined the acceptance of hedonic and utilitarian systems and how they differ from each other. Hedonic systems are the systems “which provide self-fulfilling value to the user”. On the other hand, there are utilitarian systems, which “provide instrumental value to the user”. Perceived enjoyment (PE) is an additional variable and is defined “as the fun that one user expects by using the system”. Perceived enjoyment as intrinsic motivation and perceived ease of use (PEOU) found to be strong determinants and stronger than perceived usefulness (PU) for hedonic systems. The author concluded that PEOU and PE are stronger determinants for hedonic systems than PU whereas PU mostly determines the use of utilitarian systems. The applicability of TAM is wide. In 2002, another advanced and sophisticated technology was examined using TAM. Hong et al. (2002) adapted TAM to examine the acceptance of digital libraries. They introduced external variables which affect perceived usefulness and perceived ease of use. Computer self-efficacy and knowledge search domain are individual differences variables and relevance, terminology and screen design as system characteristics. The result of this study was; an augmented TAM explaining the 52 percent of variance in behavior intention with perceived usefulness as the most significant core construct. Besides the determinants that affect perceived ease of use and perceived usefulness many researchers tried to identify core constructs that are able to predict specific technologies and to extend TAM in order to examine the adoption of these technologies. 3.3.1 TAM and Internet Based Information SystemsIn this section, a review of articles found concerning internet applications is presented. It is noticeable the emergence of studies about online shopping and banking as well as applications using wireless features. Online shopping and internet banking are the new ways of conducting ordinary tasks from the ease of your home. Despite the promising and appealing features that these innovations incorporate, there are several issues concerning their use by the consumers. Shih (2004) studied user acceptance of e-shopping. In order to understand the determinants of user adoption of the new way to conduct shopping through internet Shih augmented TAM by adding more constructs. Due to the weakness of TAM, the lack of task focus, the author used the following variables; perceived usefulness, perceived ease of use, user satisfaction, web security and access costs, perceived quality of e-shopping, attitude and user acceptance. The results of the model indicate that attitude of users positively affect user acceptance but inconsistently with previous studies, the author did not find any significant effect of PU on user acceptance of e-shopping. Similarly, Vijayasarathy (2004) examined consumers’ intention to use online shopping. Apart from usefulness and ease of use, he theorized compatibility, privacy, security, normative beliefs, and self-efficacy as core constructs of the model. The results show that besides the two main constructs of TAM, there are other salient determinants that explain why consumers choose online shopping. Moreover, a noteworthy result is that perceived ease of use found to be more important than perceived usefulness. Another section of electronic commerce is t-commerce. T-commerce enables the user through an interactive television using remote control or keyboard to purchase goods, although is not a widespread technology. For this reason, Jieun (2005) examined user’s acceptance of t-commerce using an augmented TAM. Perceived enjoyment, perceived usefulness, perceived ease of use, trust, normative belief from family and friends, subjective norms attitude and behavioral intention to use were the core constructs of the model. The strongest determinant for both experienced and inexperienced users is perceived enjoyment. The explanation of the above results is consistent with the literature about hedonic systems according to which, intrinsic motivation determines the acceptance of hedonic systems. Another section that exhibited rapid changes due to the introduction of the internet is the banking section. The technology of internet banking was examined by Cheng et al. (2006) and especially the adoption of the service in Hong Kong. In order to achieve that, they used an extended TAM. Perceived web security is the additional construct they added which found to be significant but not as much as PU and PEOU. Consistently with other studies, the significance of PEOU is high but not like PU and it diminishes over time as the users are getting familiar with the new system. Since the nature of internet banking is more utilitarian than hedonic, the result is also consistent with the previous literature. Furthermore, TAM has been applied also to examine wireless innovations. Mobile Broadband Wireless Access (MBWA) is a new technology, which enables users to play games at higher speed with fast transmission and availability. Users enjoy latest technology games without any limitations of time or place. An extended version of TAM was used by Ha (2007) in order to find the determinants of user intention to use MBWA games. The additional factors included in the model are perceived enjoyment, perceived attractiveness, perceived lower sacrifices and flow experience. In addition, they included in the model gender, age and prior experience as moderating factors. The results from this research are consistent with previous studies. Indeed perceived enjoyment is the strongest determinant like in the case of t-commerce and emphasizes the hedonic nature of the system. The most recent study published is about the acceptance of mobile wireless technology (MWT) (Kim 2008). Mobile wireless technology enables people to have access to internet using WAP phones, personal digital assistants, laptops etc. The technology that was chosen is the smartphone. In order to determine the factors that affect users to adopt the new technology Kim (2008) extended TAM. Perceived Cost Savings (PCSs) and Company’s Willingness to Fund (CWF) are the two constructs added, that along with perceived ease of use, perceived usefulness, behavioral intention and actual use and job relevance and experience as moderating variables consist the extended model. Finally, the model explained the 70% of the variance. The hypotheses tested are supported and the results found are consistent with previous studies, specifically PU and PEOU are strong determinants of user acceptance as well as the additional constructs. Moreover, the moderating factors; experience and job relevance found to be significant. 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