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Subjective Norms and Demographic Background on E-payment Behavior in Cote d'Ivoire.

INTRODUCTION

During the last twenty years, the growth of the internet and its ability to facilitate online business transactions, otherwise known as e-commerce, has had a profound impact on the way business is done around the world (Herhausen et al., 2015). The exponential growth of e-commerce has in turn created the need for new financial payment platforms through which monies can be transferred electronically (Teoh et al., 2013). These platforms are collectively known as e-payment and have the demonstrated ability to transfer funds and personal information in a safe and secure manner so that transactions can be effectively completed (Sumanjeet, 2009).

There are two primary forces that have driven the growth of e-payment. The first of these is based the need for a secure means of transacting business in countries that may lack strong legal infrastructures (Aslam et al., 2017). The second force driving the growth of e-payment is the increased popularity and use of mobile computing devices, such as smart phones and tablets, which enable customers to conduct business when it is convenient for them (Arif et al., 2016). Many studies have looked at various aspects of e-payment. Some of the more commonly studied aspects of e-payment research include but are not limited to: customer perceptions (Liao, Shi, & Wong, 2012), customers' intention to use (Chin & Ahmad, 2015; He, Luton, Fu, & Li, 2006; Wang, Wang, Lin, & Tang, 2003), customer adoption of e-payment (Lorenzo-Romero, Constantinides, & Alarcon-del-Amo, 2011; Ozkan, Bindusara, & Hackney, 2010); usage behavior (Chan & Lu, 2004) and the importance of convenience (Azmi, Ang, & Talib, 2016; Chin & Ahmad, 2015).

Other studies have focused on the factors which are believed to influence the adoption of e-payment systems. Some of the determinants which are believed to influence the adoption of e-payment include: the benefits of e-payment (Teoh, Siong, Lin, & Jiat, 2013); ease of use (Chin & Ahmad, 2015; Teoh, Siong, Lin, & Jiat, 2013; Lin & Nguyen, 2011); trust in e-payment systems (Teoh, Siong, Lin, & Jiat, 2013; Antoniou & Batten, 2011; Ozkan, Bindusara, & Hackney, 2010; Travica, Josanov, Kajan, Vidas-Bubanja, & Vuksanovic, 2007); security (Chaudhry, Farash, Naqvi, & Sher, 2016; Tella & Abdulmumin, 2015; Antoniou & Batten, 2011); self-efficacy (Teoh, Siong, Lin, & Jiat, 2013), and perceived quality or usefulness (Davis, 1989). Each of these studies thus suggest that customer perceptions of the benefit that they receive, perceived ease of use on the e-payment systems, the customers' perception on trust and the security of the system, the customers' self-efficacy, and the perceived quality of the e-payment system are important factors influencing the adoption, use and usage rate of e-payment.

Unfortunately, very few studies, to date, have attempted to study these factors in a single setting (Haque, Tarofder, Rahman, & Raquib, 2009; Ozkan et al., 2010; Teoh et al., 2013). The authors extend this research to include subjective norms and relate them to usage of e-payment. Specifically, whether they use e-payment system and how much money an individual spends each month using e-payment platforms were selected as dependent variables while controlling for age, gender, education and the respondents' working status. Data was collected from college students in a less developed country, Cote d'Ivoire.

It is both important and interesting to study these factors in a less developed country like Cote d'Ivoire, because the study findings may be generalizable to other parts of the African continent. The African continent is important to global business due to its total population, the many natural resources, rapid economic growth and the lack of stable infrastructures in many areas. Additionally, with two ports, Abidjan and San Pedro, Cote d'lvoire represents the heart of west Africa. Substantial goods and people exchange through this country. Thus, it is an important hub for people to transfer money in cash and/or via e-payment because the bank system is not convenient or accessible to general population. This study provides insights that may help lead to wider e-payment acceptance and use in other developing countries around the world. It is crucial to know about adopting the behavior of e-payment system that will ultimately become the preferred medium for financial transactions in these countries, as well as in the world.

The rest of the paper is organized as follows. In the next section the literature review contains a definition of e-payment, a historical review of the theoretical foundation of the study based on the evolution of the technology acceptance model (TAM), a review of study constructs and the hypotheses that will be tested. The study methodology, along with study results, is then presented. The paper concludes with managerial implications, study limitations, implications for future research and conclusions.

LITERATURE REVIEW

E-payment Defined

This study, similar to Teoh, Chong, Lin and Chua's, (2013) begins the process of defining e-payment based on the recommendations of Shon and Swatman (1998) who broadly define e-payment as the exchange of funds transmitted via an electronic communication channel as part of the exchange process. Other authors, such as Gans and Scheelings (1999), define e-payment more narrowly as payments made through electronic signals linked directly to deposit or credit accounts. Still other authors, such as Hord (2005), state that e-payment represents any kind of non-cash payment that does not directly involve cash or a paper check. Based on these definitions, this study defines e-payment as the transfer of funds electronically from a payer to payee through an e-payment platform which enables customers to remotely access and manage their financial transactions through an electronic network (Sumanjett, 2009; Teoh, Chong, Lin, & Chua, 2013).

Theoretical Background

This study, similar to others, adopts the technology acceptance model or TAM as its theoretical foundation. The technology acceptance model is based on the work of Davis (1989) and is derived from the Theory of Reasoned Action or TRA. The theory of reasoned action is predicated on the assumption that people are rational decision-makers. As such, people must constantly evaluate or reevaluate their relevant beliefs as they form attitudes toward specific behaviors (Fishbein & Ajzen, 1975). Fishbein and Ajzen (1975) define an attitude as "an individual's positive or negative feelings about performing the target behavior" (p. 216). It is also believed that people form attitudes toward potential behaviors by evaluating/reevaluating their beliefs and then acting in a manner that they believe is in their best interest. A second important element of the TRA is the matter of subjective norms. Fishbein and Ajzen (1975) define subjective norms as "the person's perception that most people who are important to him think he should or should not perform the behavior in question" (p. 302).

Davis (1989) proposed the TAM, which is an extension of the TRA, as a means to better understand the factors that lead people to adopt or reject a given information technology. In this seminal piece, Davis (1989) suggests that perceived quality/usefulness and perceived ease of use are the primary beliefs which determine whether or not a given technology is accepted or rejected. Davis (1989) goes on to define perceived quality/usefulness as "the degree to which a person believes that using a particular system would enhance his or her job performance" (p. 320). He also defines perceived ease of use as "the degree to which a person believes that using a particular system would be free of effort" (p. 320). The TAM also suggests that perceived usefulness and perceived ease of use then lead to individual intended and actual behaviors in accordance with the subjective norms, as noted in the TRA.

HYPOTHESIS DEVELOPMENT

Perceived Benefit and Ease of Use

Chou and Poon (2003) and Teoh et al. (2013) found that perceptions of the benefit derived from the use of e-payment are significant drivers leading to its acceptance. These findings are also supported by Eastin (2002) who reported that perceptions of how easy a given technology is to operate is closely associated with the perception of the benefit that the user receives from said technology. Similarly, Gerrard and Cunningham (2003) reported that customers who perceive an economic benefit of using e-payment systems are more likely to adopt a given technology provided that it is not overly difficult to learn. Finally, Chakravorti (2003) found that the primary advantages related to the adoption of e-payment systems include reductions in the time required to conduct transactions after the customer sets up their account and cost savings due to lower transaction costs. Given the support provided the following hypothesis is provided.

[H.sub.1a]: Perceived Benefit/Ease of Use (BEu) is positively related to how much money an individual spends each month via e-payment.

[H.sub.1b]: Perceived Benefit/Ease of Use (BEu) is positively related to whether a respondent uses the e-payment.

Trust and Security

For the purpose of this study, trust is seen as an important catalyst in the perception of the degree of risk (personal, financial, transactional, etc.) involved in online financial transactions, with lower perceptions of risk being positively related toward the intention to adopt e-payment systems (Xin, Techatassanasoontorn, & Tan, 2015; Teoh et al., 2013; Wang et al., 2003). System security, which reduces perceptions and the occurrence of risk, has been variously defined as the set of policies, procedures and programs used to verify source information and guarantee the integrity, privacy and security of that information (Teoh et al., 2013). This aspect of security is extremely important to customers because e-payment and online transactions can only be considered safe and secure when all aspects of the transaction are safeguarded (Patel, Qi, & Wills, 2010; Ozkan, Bindusara, & Hackney, 2010; Vincent, Folorunso, & Ainde, 2010). Consequently, customers' trust in and willingness to adopt and use e-payment is predicated on the perceived level of security of the system which prevents an online vendor from acting in an opportunistic manner (Sahin & Kitapci, 2013; Geffen, 2000). Based on this discussion the following hypothesis is presented.

[H.sub.2a]: Perceptions of trust and security (TS) are positively related to how much money an individual spends each month via e-payment.

[H.sub.2b]: Perceptions of trust and security (TS) are positively related to whether individuals use e-payment.

Perceived Quality

Perceived quality has been variously defined as the degree to which a person believes that using a particular system will require little effort on their part and that it will enable them to complete their intended task more effectively (Dastan & Gurler, 2016; Chin & Ahmad, 2015. Past research has also demonstrated that users hold increased perceptions of quality when they find that a system is easy to learn and manage. This research has also found that users are more likely to be satisfied and perceive that there is a reduction in the risk associated with mobile transactions as perceptions of quality increase (Liao, Shi, & Wong, 2012; Zhou, 2011; Lorenzo-Romero, Constantinides, & Alarcon-del-Amo, 2011). Thus, the following hypothesis is provided.

[H.sub.3a]: Perceived Quality is positively related to how much money an individual spends each month via e-payment.

[H.sub.3b]: Perceived Quality is positively related to whether an individual uses e-payment.

Self-efficacy

Self-efficacy has been variously defined as the belief in one's ability to successfully perform a given task based on their perceived level of skill (Eastin, 2002; Davis, 1989). Past research suggests that personal beliefs of self-efficacy are based on four criteria: past experience (failure vs. success), verbal persuasion (from significant others), vicarious experience (observations of others' successes and failures) and the individual's affective or emotional state (anxiety, excitement, etc.) (Teoh et al., 2013; Wang et al., 2003). As a result, those who possess or perceive that they have higher levels of self-efficacy, in regards to technology, are more likely to adopt e-payment systems (Chan, Lu, & Lingnan, 2004; Wang & Li, 2011). Thus, based on the empirical and theoretical research, the following hypothesis is offered.

[H.sub.4a]: Perceptions of self-efficacy (SE) are positively related to how much money an individual spends each month via e-payment.

[H.sub.4b]: Perceptions of self-efficacy (SE) are positively related to whether an individual uses e-payment.

RESEARCH METHODOLOGY

Survey Instrument

This study targeted 203 respondents from the Cote d'Ivoire. Respondents were selected based on a convenience sample and asked to fill out the online survey which was hosted on Qualtrics. Study constructs and scales were selected based on a review of the literature. Each of the scales selected demonstrated adequate reliability and validity and was translated using the standard translation back translation process by native speaking college students. The survey instrument was then pretested with another group of native speaking college students. This process indicated that no additional changes were required.

The survey instrument was comprised of three sections. Section 1 contained the constructs of interest which are generally based on the work of Teoh et al. (2013). Some minor changes to wording were deemed necessary to enhance clarity. All of the scales in the Teoh et al. study (2013) demonstrated acceptable levels of both reliability and validity. The most significant departure from the Teoh et al. (2013) study is that ours was based on a 5-point Likert scale, rather than the 4-point scale that they used. Section I contained a total of 19 items. Section II contained questions related to whether the respondent used e-payment and the amount of money that the respondents typically spend each month using e-payment. Section III contained questions related to the respondents' demographics (e.g., age, gender, education level and employment status).

Respondent Demographics

This study targeted 203 respondents based on the convenience sampling technique. Table 1 shows the demographic profiles of study respondents. The split between male and female respondents was 95 and 97 with 11 missing responses. This finding was consistent with the sex ratio of 1.02 between male/female reported by the CIA's World Factbook (2018). The age of respondent groups was somewhat spread with the majority of them being 40 or younger, 167 (or 82.3%). If we use the mid value of each age group to convert age to be a continuous variable, it is found that the sample has an average of 31.7 and standard deviation of 11.5. According to Wikipedia (2018), the proportion of population 39 or younger is 82% for Ivory Coast. These findings were reasonably consistent with expectation of more young people in the country and younger people are more likely to utilize technology than older people. In terms of education, 145 (71%) of the 203 respondents reported that they were licensed or more. If we use schooling year for each educational category, the mean is 11.5 years of schooling with a standard deviation of 1.1 years of schooling. Comparing with the Cote d'lvoire demographics profile of 2018, the average is 9 years (Mundi Index, 2018). The educational level in this sample was a little higher than the country statistics. However, higher levels of education have been found to be related to increased use of technology. Study findings also indicate that 130 of the 203 respondents work either full or part time indicating that they should have the financial means to engage in transactions and potentially use e-payment to facilitate said transactions.

Scale Validity and Reliability

The questionnaire was translated using the standard translation back translation process using native speaking college students. This process was repeated until consensus was reached. The questionnaire was then pilot tested using a different group of ten native speaking college students prior to being administered in the field. The results of this process indicated that no further changes were necessary in order to satisfy face validity. Construct validity was then assessed based on the Bartlett test of sphericity. This portion of the analysis indicated that the results were significant at the .000 level with the Chi Square of 1337.621 and 406 degrees of freedom even though the Kaiser-Meyer-Olkin measure of sampling adequacy was .661, which is slightly above the desired [greater than or equal to] .60. The results of this portion of the analysis indicate that the data are suitable for factor analysis. A factor analysis was then conducted. The results of this analysis indicated that the four proposed factors did in fact emerge and the total variance explained by each factor ranged from 6.223 (self-efficacy) to 15.659 (Benefit / Ease of Use). The model's total variance explained was found to be 37.442.

The scale's reliabilities were then assessed based on Cronbach's Alphas. This portion of the analysis indicated that all of the scales exceeded the .70 minimum cutoff recommended by Nunnally (1978). Based on these combined analyses, the survey instrument was deemed to be both valid and reliable.

In Table 2, it is also found that benefit and ease of use have highest mean scores of 3.80 (in a Likert-scale of 1-5) among four subjective norms. The second important subjective norm is perceived quality. It implies that it is very important that e-payment systems in the hIvory Coast should have good quality and ease of use so users can feel more benefits from them. Self-assessed self-efficacy is found to have relatively low mean of 3.12.

In terms of how much money respondents spend each month using an e-payment platform, Table 3 indicates that just over 48 percent spend $54 USD or less each month, while 71.5% spend less than $165. Interestingly, only 3 or 1.5% of respondents spent over $1,000 per month using e-payment. It must also be noted that 28 or 13.7 percent of respondents failed to answer this question.

The second dependent variable is whether you use an e-payment system. The respondents would choose between 1 (yes) or 0 (no). It is found that 81.8 percent of respondents answered yes. Though the Cote d'Ivoire is a less developed country, it is found that young people use the e-payment system.

Multicollinearity

Multicollinearity was assessed using the correlation matrix based on the recommendations set forth by Hair et al. (1998). A review of the correlation matrix further indicates that while there are significant positive relationships between the independent variables none of the coefficients exceed the .90 recommended cut off, indicating that the effects of multicollinearity have been minimized.

RESULTS

According to the correlation matrix, it is found that Benefit/Ease of Use, Trust/Security and Perceived Quality are related among themselves at .01 level. Self-Efficacy is a different subjective norm that is not statistically correlated with the other three subjective norms. It is logical to see that people in the Ivory Coast feel that quality, ease of use, benefit, trust and security are related issues to them.

It is also confirmed that age and perceived quality is positive related and significant at .05 level. Older respondents in this sample are more likely to have higher scores of perceive quality. In addition, age is found to have positive relationship with usage. This means that older people are more likely to use e-payment systems than those younger ones.

Gender was found to be negatively related to Benefit/Ease of Use. Females were coded as 1 and males were coded as 0 in this study. It implies that males are more likely to have higher scores in perceived level of benefits and ease of use. Gender and age is found to have a negative relationship. Females are more likely to be younger in this sample. Gender was found to have negative relations with two dependent variables, usage or money spent in e-payment. It implies that males might be more likely to use or spend money on e-payment systems. However, gender is not statistically significant with dependent variables.

Educational level found to be positively related to benefits and ease of use. However, it is also found that education is negatively related to trust and security at .05 level. For those who have a higher level of education, they are more likely to feel e-payment systems are beneficial and easy to use. However, it is found that there is a negative relationship between education and trust/security. Apparently, people with higher educational level are less likely to trust the system or worry about the security of the e-payment systems in the study. Education is also found to have a negative relationship with two dependent variables. However, the negative relationships are not strong enough to be statistically significant.

Employment was measured by three choices, full time, part time or no employment. In this study, we coded full time employment as 1, part time employment as 0.5 and no employment as 0. Employment level is found to be associated with trust/security and age. It is found that full-time employed people are more likely to trust the e-payment system or feel more secure about the e-payment system. Employment is also found to have a negative relationship with age; that is conflict with the situation. Further examination is needed for future studies.

Hypotheses Testing

In the following section, hypotheses testing will be presented.

[H.sub.1a]: Perceived Benefit / Ease of Use (BEu) is positively related to how much money an individual spends each month via e-payment. Rejected.

[H.sub.1b]: Perceived Benefit / Ease of Use (BEu) is positively related to whether a respondent use e-payment. Supported.

[H.sub.2a]: Perceptions of trust and security (TS) are positively related to how much money an individual spends each month via e-payment. Rejected.

[H.sub.2b]: Perceptions of trust and security (TS) are positively related to whether individuals use e-payment. Rejected.

[H.sub.3a]: Perceived Quality is positively related to how much money an individual spends each month via e-payment. Rejected.

[H.sub.3b]: Perceived Quality is positively related to whether an individual uses e-payment. Rejected.

[H.sub.4a]: Perceptions of self-efficacy (SE) are positively related to how much money an individual spends each month via e-payment. Rejected.

[H.sub.4b]: Perceptions of self-efficacy (SE) are positively related to whether an individual uses e-payment. Supported.

In the following section, results of multiple regressions are presented (see Table 6). The model for monthly expenditure is not statistically significant. The model for use is found to be statistically significant at the level of .001. The model can explain about 15% of the valiance of use. If we check parameter testing, only employment is found to be negatively significant. In sum, if we combine demographic background and four subjective norms, four subjective norms become statistically unimportant.

DISCUSSION

Overall, this study achieved its stated objectives through the use of a valid and reliable survey instrument to construct subjective norms. However, many of the hypotheses between subjective norms and e-payment activities were not supported. These, contrary to expected findings, suggest that e-payment users in the Cote d'Ivoire are motivated largely by factors other than those identified by subjective norms in the literature. Study results do provide important insights into the overall e-payment construct as it is currently used in the Cote d'Ivoire.

Contrary to expectations, the amount of money that e-payment users spend each month was for all accounts found to be nonsignificant in every regard. This is true regardless of Pearson correlation or multiple regression analysis. This unexpected finding would then seem to imply that there are other factors driving the use of e-payment in this country which have as yet to be identified. The adoption or use of e-payment did provide important insights. From correlation analysis, e-payment users believe that the benefit that they receive and ease of use were found to be significant with a r = .145 at the .05 level. Similarly, self-efficacy was also found to be an important variable correlated with use with a r = .161 at the .05 level.

Some demographic variables were found to be related to the use of e-payment include. Older respondents were more likely to report the adoption of e-payment (r = .282 at the .001 level), while females are less likely to adopt e-payment (-.178 at the .05 level), as are those who work full time (-.286 at the .001) level.

Other findings of interest suggest that more educated respondents are less trusting of current e-payment systems and have lower perceptions of the quality of those systems. Conversely, respondents with less education reported higher levels of perceived benefit and ease of use (.147 at the .05 level) and were more likely to be female.

Respondents' age also provided important insights in this study. For example, it was found that younger respondents were more likely to report being employed full time and have higher perceptions of the perceived quality of e-payment.

CONCLUSION AND IMPLICATIONS

This study examines the subjective norms which influence the Cote d'Ivoire consumers' perceptions of e-payment. Study results indicate that the use of e-payment is heaviest among older and male individuals that are working part time or not working. Benefit, ease of use and self-efficacy are identified important subjective norms that affect e-payment use. Contrary to expectations, the amount of money spent each month was found not statistical relating to demographic variables and subjective norms. It is possible that measurement of expenditure is not an accurate way of measuring behavior with reliability and validity. Other measures of e-payment should be considered in future studies.

Theoretical Implications

This study provides a step in addressing the lack of e-payment research that addresses subjective norms, i.e., customer perceptions of the benefits that they receive from e-payment, perceptions of ease of use, trust in e-payment systems, e-payment security and self-efficacy. Study findings support the need for ongoing research in this area given the differences that were found between Teoh et al.'s, (2013) study of technology adoption theory in Malaysia and ours. These differences appear to indicate the need to expand the theoretical basis to consider cultural differences or the country's level of economic development.

Managerial Implications

This study provides two important implications for managers seeking to do business in the Cote d'Ivoire. First, particular attention needs to be paid to making sure that online platforms are easy to use and that they provide sufficient levels of security necessary for customers to develop trust in the system. It is important that customers are able to clearly see how they will benefit through the use of this system. The second implication of managerial note is that managers need to focus their efforts on older, males and people with no or part time employment. Together, these findings provide important guidance to managers seeking to do business in less developed regions of Africa, such as the Cote d'Ivoire.

Limitations and Future Research

This study, like all others, suffers from two primary limitations. These limitations include the use of a convenience sample in an urban area and its snapshot approach. The heavy use of sample data obtained from an urban setting makes the generalizability to rural areas questionable but, given the lack of access to mobile computing devices and internet connectivity, this shortcoming was not deemed overly critical. The second shortcoming underlying this study, the snapshot approach, suggests the need for additional research in this area as this study, to the authors' best knowledge, is the first of its kind in Cote d'Ivoire.

The results of this study also provide important implications for future research. These potential research topics include, but are not limited to, the need to study the use of e-payment systems while controlling for variables such as national culture and the level of economic development. A second potential research stream will ideally look at how this study's findings change as the country develops economically and if changes occur as their primary international trading partners change. Finally, study findings suggest the need for future research to identify other constructs which may have an even greater impact on customers' willingness to adopt e-payment systems.

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Alexander N. Chen, University of Central Arkansas

Scott Nadler, University of Central Arkansas

Ken Griffin, University of Central Arkansas

Jordan Derbe, University of Central Arkansas
Table 1: Descriptive Statistics for Demographic Variables

Variables       Frequency  Percent

Gender
Female             97       47.8
Male               95       46.8
Missing            11        5.4
Total             203      100

Age
17>                 1        0.5
18-21              77       37.9
22-30              51       25.1
31-40              38       18.8
41-50              18        8.9
51<                10        4.9
Missing             8        3.9
Total             203      100

Education
B.E.P.C.            4        2
B.A.C.             12        5.9
BTS                32       15.8
License & More    145       71.4
Missing            10        4.9
Total             203      100

Employment
Full time         104        51.2
Part time          26       12.8
Not working        65       32.1
Missing             8        3.9
Total             203      100

Table 2: Cronbach Alphas, Means, and Standard Deviations of Four
Dependent Variables

Variables              Alphas  Means    SD's     N

Benefit / Ease of Use  .707    3.8083  0.59811  193
Trust / Security       .704    3.2092  0.51133  196
Perceived Quality      .729    3.2821  0.76946  195
Self-Efficacy          .725    3.1244  0.69603  193

Table 3: Dependent Variables, I.E., Monthly Expenditure and Usage

Dependent Variables  Counts  Percent

Monthly Expenditure
30,000>               98      48.3
30,001-90,000         47      23.2
90,001-180,000        15       7.4
180,001-360,000        7       3.4
360,001-600,000        5       2.5
600,001<               3       1.5
Missing                28     13.7
Total                203     100

Use E-Payment
Yes (=1)             166      81.8
No (=0)               32      15.8
Missing                5       2.5
Total                203     100

$1 USD equals 546.48 CFA Franc BCEAO

Table 4: Correlation Matrix Among Subjective Norms, Demographics and
Dependent Variables

                             1           2            3           4

1 Benefit / Ease of Use  1
  2 Trust / Security      .305 (**)  1
  3 Perceived Quality     .192 (**)    .266 (**)  1
    4 Self Efficacy       .085         .103         .051      1
         5 Age            .127         .038         .170 (*)    .112
       6 Gender          -.166 (*)    -.117         .008        .006
      7 Education         .147 (*)    -.163 (*)    -.119       -.085
     8 Employment        -.065         .142 (*)    -.004       -.09
         9 Use            .145 (*)    -.106         .075        .161 (*)
10 Monthly Expenditure    .126        -.009        -.003        .024

                             5            6           7       8

1 Benefit / Ease of Use
   2 Trust / Security
  3 Perceived Quality
    4 Self Efficacy
         5 Age           1
        6 Gender          -.151 (*)   1
      7 Education         -.14          .019      1
      8 Employment        -.661 (**)    .088       -.01   1
         9 Use             .282 (**)   -.178 (*)   -.041   -.286 (**)
 10 Monthly Expenditure    .076        -.124       -.108    .029

                           9    10

1 Benefit / Ease of Use
  2 Trust / Security
  3 Perceived Quality
    4 Self Efficacy
         5 Age
       6 Gender
      7 Education
     8 Employment
         9 Use           1
10 Monthly Expenditure    .132  1

Note: (*) and (**): Levels of significance at 0.05 and 0.01,
respectively (two-tailed)

Table 5: Summary Table for Hypotheses Testing

Subjective Norms             Usage     Money Spent

H1 Benefit / Ease of Use  Significant     N.S.
H2 Trust / Security          N.S.         N.S.
H3 Perceived Quality         N.S.         N.S.
H4 Self Efficacy          Significant     N.S.

Table 6: Regression Analysis

                       Monthly           Use
                       Expenditure
Model                     B    T-values     B    T-values

(Constant)              2.502   1.348     1.069   2.676
Benefit / Ease of Use   0.349   1.629     0.069   1.524
Trust / Security       -0.089   -.370    -0.085  -1.662
Perceived Quality      -0.12    -.769    -0.018   -.521
Self-Efficacy           0.06     .349     0.055   1.509
Age                     0.013    .977     0.002    .748
Gender                 -0.304  -1.305    -0.091  -1.812
Education              -0.162  -1.323    -0.023   -.885
Employment             .0349    1.019    -0.146  -1.971 (*)
R-Square                0.064             0.151
F statistic             1.049             3.478
Significance            0.402             0.001

Note: (*) Level of significance at 0.05
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Author:Chen, Alexander N.; Nadler, Scott; Griffin, Ken; Derbe, Jordan
Publication:Competition Forum
Geographic Code:6COTE
Date:Jul 1, 2018
Words:6085
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