Role of social media on mobile banking adoption among consumers

Manisha Sharma, Subhojit Banerjee and Justin Paul

Technological Forecasting and Social Change, 2022, vol. 180, issue C

Abstract: The purpose of this paper is to examine the effectiveness of social media on the different stages of consumers' cognitive stages through the Hierarchy of Effects (HOE) model for mobile banking adoption among consumers. A two-stage analytical approach with Structural Equation Modeling (SEM) and Neural Network (NN) analysis to bring out social media's distinctive and confirmatory influence on mobile banking consumers. Data from 482 respondents in the age group of 18 years to 30 years (the young consumers) from India was analyzed for social media influence on different cognitive stages of mobile banking acceptance. Results show the increasing tendency of social media influence with increasing cognitive level. Among the four cognitive stages (Attention, Interest, Desire, and Action- AIDA model) of m-banking adoption, Action and Interest stages are the most influenced stages by the social media, followed by Desire and Attention. This research provides a two-stage analytical approach by combining “SEM and NN” to assess the impact of the integration of AIDA constructs. We develop an original integrated model which outlines the phenomenon of the diffusion of information from social media on different cognitive stages of young mobile banking consumers.

Keywords: Mobile banking; Hierarchy of effects model; Aida model; Cognitive stages; Social media; Young consumers (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:180:y:2022:i:c:s0040162522002463

DOI: 10.1016/j.techfore.2022.121720

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