Why use internet banking? An irrational imitation model Online publication date: Sun, 25-Apr-2010
by Weihua Shi, Kenneth Zantow
International Journal of Banking, Accounting and Finance (IJBAAF), Vol. 2, No. 2, 2010
Abstract: Technology adoptions are not always rational. Adoption herding, the adoption that occurs because many others have made the adoption, often occurs due to various reasons (Li, 2004). Traditional rational choice theories cannot accommodate herding and other irrational behaviours associated with technology adoption. Based on imitation theory, this study proposes a model to examine irrational imitation factors underlying the adoption of internet banking (IB). Three imitation factors (frequency-based, outcome-based and trait-based) are incorporated into the model which is tested using survey data from 173 IB users. The results reveal that outcome-based and frequency-based imitations are significant determinants of IB adoption. This study pioneers an analysis of irrational imitations for technology acceptance, in particular the IB adoption, and provides valuable insights for bank managers. The findings suggest that IB adoption is subject to frequency-based and outcome-based imitation.
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