Promoting Positive ESG Management Practice on the Customer's Behavioral Intention to Adopt Mobile Payment Systems Post- COVID-19 Pandemic in Nigeria
Abstract
This study examines the influence of Environmental, Social, and Governance (ESG) management practices on customers’ intention to adopt banking services, with a focus on the mediating roles of perceived ease of use, perceived risk, and perceived usefulness within the framework of the Technology Acceptance Model (TAM). Drawing data from a sample of banking customers and members of the general public, the study employed structural equation modeling to analyze both direct and indirect relationships among the constructs. The results reveal that ESG management practices significantly enhance perceived ease of use, perceived risk, and perceived usefulness. While perceived usefulness and perceived risk significantly predict intention to adopt, perceived ease of use does not show a direct effect. Mediation analysis further indicates that perceived usefulness and perceived risk significantly mediate the relationship between ESG practices and customer intention, whereas perceived ease of use does not. These findings underscore the importance of ESG-driven value and risk communication in promoting customer adoption of sustainable banking services. The study provides both theoretical and practical implications for banks seeking to integrate ESG considerations into their service design and customer engagement strategies.
Keywords
ESG management practices; Technology Acceptance Model (TAM); perceived
References
Aji, J. I., Suharsono, S., Muslihudin, M., Wibowo, R., & Pratama, R. A. (2020). Factors affecting customers' intention to adopt electronic wallet: the role of health risk. International Journal of Innovation, Creativity and Change, 14(9), 162-174. Dang, D. Y., & Gadi, P. D. (2013). Integrating Leadership and Ethics: Consequences and Implications in Achieving Results in The Private Sector. International Journal of Education and Research, 1(May), 0–10. Davis, F. D. (1989). Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS Quarterly, 319-340. Dimin, C. A., Jovanie, T., & Yuan, Z. (2023). An empirical study of the inter-relationships among destination image, perceived risk perceptions, and behavioral intention of Chinese international students visiting San Francisco. Journal of Destination Marketing & Management, 23, 100855. Eccles, R. G., & Serafeim, G. (2013). The performance implications of corporate social responsibility. Journal of Management Studies, 50(7), 1194-1219. Edmans, A. (2011). Does the stock market fully value intangibles? Employee satisfaction and equity prices. Journal of Financial Economics, 101(3), 621-640. El Ghoul, S., Guedhami, O., Kwok, C. C., & Mishra, D. R. (2011). Does corporate social responsibility affect the cost of capital? Journal of Banking & Finance, 35(9), 2388-2406. Flammer, C. (2013). Corporate social responsibility and shareholder reaction: The environmental awareness of investors. Academy of Management Journal, 56(3), 758-781. Friadi, A., Suryani, Y., & Lina, L. (2018). Impact of resource availability and simplicity requirements on the intention to adopt smartphone-based e-money. International Journal of Scientific & Technology Research, 7(5), 178-181. Gadi, P. D., Bagobiri, E., & Ali, J. (2022). Perceptions of Ethical Climate on Deviant Behavior: The Mediating Role of Work Spirituality. Journal of Production, Operations Management and Economics, 04, 1–17. Gadi, P. D., Catherine Ebelechukwu, E., & Yakubu, S. (2015). Impact of Corporate Governance on Financial Performance of Microfinance Banks in North Central Nigeria. International Journal of Humanities Social Sciences and Education, 2(1), 153–170. www.arcjournals.org Ghani, N. H. A., Ali, A. J., Musa, R., & Omonov, M. (2022). Influence of perceived usefulness, banking system reliability, and COVID-19 pandemic on digital banking effectiveness: A case study of a bank in Malaysia. Global Journal of Economics and Business Studies, 9(1), 56-68. Gontur, S., Davireng, M., & Gadi, P. D. (n.d.). Creativity And Innovation as A Strategy for Enhancing Entrepreneurship Development in Nigeria: A Study of Some Selected Small and Medium Scale. 10(2), 1–16. Hagger, M. S., Chatzisarantis, N. L., Alberts, H., Anggono, C. O., Batailler, C., Birt, A. R., ... & Calvillo, D. P. (2022). Perceived behavioral control moderating effects in the theory of planned behavior: A meta-analysis. Annals of Behavioral Medicine, 56(1), 10-22. Heidenreich, S., & Spieth, P. (2013). Conceptualizing the influence of product-related factors on customer satisfaction in e-commerce. International Journal of Retail & Distribution Management, 41(10), 790-804. Huang, W., Ji, S., & Zhu, D. (2022). Understanding user continuance intention towards health and fitness app: A study of perceived usefulness and ease of use. Telematics and Informatics, 67, 101712. Indrayana, B., Pratama, R. A., & Mulyanto, R. (2016). The effect of Instagram usage on online purchase intention: Perceived ease of use, perceived usefulness and perceived enjoyment as mediator. Journal of Business and Management, 18(6), 27-34. Jahanmir, S. F., & Lages, L. F. (2017). Cultural influence on consumers' usage of smartphones for online shopping in Kuwait. International Journal of Retail & Distribution Management, 44(5), 524-543. Jasin, J. M. (2022). The effect of perceived ease of use on behavior intention through perceived enjoyment as an intervening variable in digital payment. Journal of Digital Banking, 6(1), 82-94. Karsen, N. N., Duygun, H., & Luitel, B. (2019). Mobile money adoption and socioeconomic development in Sub-Saharan Africa. Research in International Business and Finance, 50, 464-476. Koufaris, M. (2002). Applying the technology acceptance model and flow theory to online consumer behavior. Information Systems Research, 13(2), 205-223. Koufaris, M. (2002). Applying the technology acceptance model and flow theory to online consumer behavior. Information Systems Research, 13(2), 205-223. Li, H., & Hu, F. (2018). Factors affecting consumers' trust and perceived risk in online shopping. Journal of International Trade, Economics and Finance, 9(3), 1-7. Malik, M. A., & Annaur, M. (2021). Perceived usefulness and perceived ease of use impacts on customers' intention to use mobile banking application. Journal of Management Sciences, 8(1), 13-26. Mohammed, A. (2018). The role of perceived usefulness, perceived ease of use, perceived credibility, and perceived relevance to consumer adoption of mobile marketing in Klang Valley, Malaysia. International Journal of Engineering & Technology, 7(4.20), 10-16. Phan, T. H., Dang, D. N., Tran, H. T. T., & Nguyen, T. N. T. (2020). Factors affecting Vietnamese consumers’ intention to use mobile payment. Journal of Asian Finance, Economics and Business, 7(11), 237-246. Rouibah, K., Jassim, M., & Kumar, V. (2021). Customer acceptance of online banking services in the United Arab Emirates: A modified version of the technology acceptance model. Journal of Internet Banking and Commerce, 26(3), 1-17. Sharma, S. K., Hassan, H. M., & Patel, A. (2022). Factors influencing the adoption of mobile payment services in the Middle East: An empirical analysis using an extended technology acceptance model. International Journal of Information Management, 66, 102444. Suebtimrat, S., & Vonguai, P. (2021). Factors affecting the intention to use mobile banking: A study of millennials in Thailand. International Journal of Bank Marketing, 39(1), 235-251. Surur, A. M., Getahun, M. S., Terfa, A. K., Hailemariam, D. A., Getahun, T. A., & Gizaw, A. B. (2020). Antecedents of perceived ease of use and perceived usefulness on users’ behavioral intention towards e-taxation adoption. International Journal of Management, Accounting and Economics, 7(9), 885-904. Tee, S. K., & Ong, C. S. (2016). The acceptance and use of smartphone for mobile commerce among generation Y consumers. Procedia Economics and Finance, 37, 546-553. Teh, S. S., Mui, D., Kee, H., Zahra, M., & Paul, G. D. (2021). Tapping the Power of social media on Innovation Performance. 9(2), 143–151. Wulandari, A. (2012). Factors affecting consumer behavior in online shopping. Journal of Business and Retail Management Research, 6(1), 1-12. Xia, L., Monnot, M. J., Zhang, Y., & Simpson, J. T. (2019). Using mobile payment services: The role of perceived usefulness, perceived ease of use, and trust. Information Systems Frontiers, 21(3), 549-568. Yosita, R., & Giri, S. (2016). The influence of consumer risk perception and shopping orientations on the purchasing decision of online travel agencies. Advances in Social Science, Education and Humanities Research, 33, 45-53.
More Articles from IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT
E-Commerce Platform Utilization for Opportunity Recognition Among Business Education Postgraduate Students in Rivers State Universities
Author: Elechi, Ezinne, Wogboroma, Nyemaekile Ph.D, Godpower, Yiraodi Joel Ph.D
Developing Logistics Services for Cross-Border B2c E-Commerce in Vietnam
Author: Nguyen Thi Huyen Trang
Effect of Monetary and Fiscal Policy Measures on Economic Growth in Nigeria
Author: Jaja, Philomina Ejiroghene, Prof. C. G. Nwikina, Prof. C. R. Amadi, Prof. S. N. Amadi
The Role of Strategic Leadership in Mitigating Organizational Knowledge Loss During Digital Migration
Author: Ejalonibu Ojo Sakirulai
Effect of Socio-Economic Characteristics on the Poverty Status of Rural People in Plateau State, Nigeria
Author: Mankwat Gizo, Paul Dung Gadi, Ladi Mankwat Gizo