IDEAS home Printed from https://ideas.repec.org/a/pal/jofsma/v29y2024i2d10.1057_s41264-022-00201-9.html
   My bibliography  Save this article

Consumers' foresight for the digital Turkish lira: an empirical study

Author

Listed:
  • İbrahim Aydın

    (Van Yüzüncü Yıl University)

  • Zübeyir Çelik

    (Van Yüzüncü Yıl University)

  • Kaan Yiğenoğlu

    (Van Yüzüncü Yıl University,)

  • Ayhan Cesur

    (Van Yüzüncü Yıl University,)

Abstract

This study aims to explain consumers' attitudes toward digital currency and their intention to use it with perceived trust, risk, usefulness, and ease of use. Data were obtained from 801 people through an online survey. Structural equation modeling and Process Macro were run to analyze the obtained data statistically. According to the statistical analysis results, while the trust factor affects the risk negatively, it positively affects the usefulness and attitude. Usefulness and risk have mediating role in the effect of trust on attitude. In addition, although the effect of usefulness on attitude is significant, the effect of risk on attitude is not significant. Attitude affects the intention to use it. Ease of use has a moderating role in this effect. At low, medium, and high values of ease of use, the attitude has conditional effects on the intention to use. Although there are many international studies on the adoption and use of digital currencies, few studies investigate the predictions of consumers' digital currency use in developing countries. This study contributes to the literature by raising awareness about digital currencies in developing countries. This study also fills an important gap in monitoring consumers' predictions about digital currency use in developing countries. In the context of the digital currency issue and the theoretical background of this study, it was seen that the variables evaluated in this study were not evaluated together in previous studies. It has been successfully explained that the original research model of this study has structural validity. As a result, the relationship between the variables was successfully explained.

Suggested Citation

  • İbrahim Aydın & Zübeyir Çelik & Kaan Yiğenoğlu & Ayhan Cesur, 2024. "Consumers' foresight for the digital Turkish lira: an empirical study," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(2), pages 214-228, June.
    • Handle: RePEc:pal:jofsma:v:29:y:2024:i:2:d:10.1057_s41264-022-00201-9
    DOI: 10.1057/s41264-022-00201-9
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/s41264-022-00201-9
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1057/s41264-022-00201-9?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Jonathan Chiu & Mohammad Davoodalhosseini & Janet Hua Jiang & Yu Zhu, 2019. "Bank Market Power and Central Bank Digital Currency: Theory and Quantitative Assessment," Staff Working Papers 19-20, Bank of Canada.
    2. Wu, Kewen & Zhao, Yuxiang & Zhu, Qinghua & Tan, Xiaojie & Zheng, Hua, 2011. "A meta-analysis of the impact of trust on technology acceptance model: Investigation of moderating influence of subject and context type," International Journal of Information Management, Elsevier, vol. 31(6), pages 572-581.
    3. Viswanath Venkatesh, 2000. "Determinants of Perceived Ease of Use: Integrating Control, Intrinsic Motivation, and Emotion into the Technology Acceptance Model," Information Systems Research, INFORMS, vol. 11(4), pages 342-365, December.
    4. Mr. John Kiff & Jihad Alwazir & Sonja Davidovic & Aquiles Farias & Mr. Ashraf Khan & Mr. Tanai Khiaonarong & Majid Malaika & Mr. Hunter K Monroe & Nobu Sugimoto & Hervé Tourpe & Peter Zhou, 2020. "A Survey of Research on Retail Central Bank Digital Currency," IMF Working Papers 2020/104, International Monetary Fund.
    5. Vlačić, Božidar & Corbo, Leonardo & Costa e Silva, Susana & Dabić, Marina, 2021. "The evolving role of artificial intelligence in marketing: A review and research agenda," Journal of Business Research, Elsevier, vol. 128(C), pages 187-203.
    6. Ruby Khan & Tahani Ali Hakami, 2021. "Cryptocurrency: usability perspective versus volatility threat," Journal of Money and Business, Emerald Group Publishing Limited, vol. 2(1), pages 16-28, November.
    7. Michael Siegrist, 2021. "Trust and Risk Perception: A Critical Review of the Literature," Risk Analysis, John Wiley & Sons, vol. 41(3), pages 480-490, March.
    8. David Andolfatto, 2021. "Assessing the Impact of Central Bank Digital Currency on Private Banks," The Economic Journal, Royal Economic Society, vol. 131(634), pages 525-540.
    9. Fred D. Davis & Richard P. Bagozzi & Paul R. Warshaw, 1989. "User Acceptance of Computer Technology: A Comparison of Two Theoretical Models," Management Science, INFORMS, vol. 35(8), pages 982-1003, August.
    10. Salcedo, Eduardo & Gupta, Manjul, 2021. "The effects of individual-level espoused national cultural values on the willingness to use Bitcoin-like blockchain currencies," International Journal of Information Management, Elsevier, vol. 60(C).
    11. Michael D. Bordo & Andrew T. Levin, 2017. "Central Bank Digital Currency and the Future of Monetary Policy," NBER Working Papers 23711, National Bureau of Economic Research, Inc.
    12. Shelly Gupta & Sanjay Dhingra, 2022. "Modeling the key factors influencing the adoption of mobile financial services: an interpretive structural modeling approach," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 27(2), pages 96-110, June.
    13. Kobby Mensah & Fortune Edem Amenuvor, 2022. "The influence of marketing communications strategy on consumer purchasing behaviour in the financial services industry in an emerging economy," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 27(3), pages 190-205, September.
    14. Peterson K. Ozili, 2022. "Central bank digital currency research around the world: a review of literature," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 26(2), pages 215-226, January.
    15. Katsiampa, Paraskevi & Corbet, Shaen & Lucey, Brian, 2019. "High frequency volatility co-movements in cryptocurrency markets," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 62(C), pages 35-52.
    16. Manis, Kerry T. & Choi, Danny, 2019. "The virtual reality hardware acceptance model (VR-HAM): Extending and individuating the technology acceptance model (TAM) for virtual reality hardware," Journal of Business Research, Elsevier, vol. 100(C), pages 503-513.
    17. Chun-Hsiung Liao & I Hsieh, 2013. "Determinants of Consumer’s Willingness to Purchase Gray-Market Smartphones," Journal of Business Ethics, Springer, vol. 114(3), pages 409-424, May.
    18. Vikas Chauhan & Rambalak Yadav & Vipin Choudhary, 2022. "Adoption of electronic banking services in India: an extension of UTAUT2 model," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 27(1), pages 27-40, March.
    19. Ahmad Arif Santosa & Yogi Tri Prasetyo & Firdaus Alamsjah & Anak Agung Ngurah Perwira Redi & Indra Gunawan & Angga Ranggana Putra & Satria Fadil Persada & Reny Nadlifatin, 2022. "How the COVID-19 Pandemic Affected the Sustainable Adoption of Digital Signature: An Integrated Factors Analysis Model," Sustainability, MDPI, vol. 14(7), pages 1-22, April.
    20. Viswanath Venkatesh & Fred D. Davis, 2000. "A Theoretical Extension of the Technology Acceptance Model: Four Longitudinal Field Studies," Management Science, INFORMS, vol. 46(2), pages 186-204, February.
    21. Sudipa Majumdar & Vijay Pujari, 2022. "Exploring usage of mobile banking apps in the UAE: a categorical regression analysis," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 27(3), pages 177-189, September.
    22. Kim, Minseong, 2021. "A psychological approach to Bitcoin usage behavior in the era of COVID-19: Focusing on the role of attitudes toward money," Journal of Retailing and Consumer Services, Elsevier, vol. 62(C).
    23. Umut Uyar & Ibrahim Korkmaz Kahraman, 2019. "The risk analysis of Bitcoin and major currencies: value at risk approach," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 22(1), pages 38-52, January.
    24. Eloy Gil-Cordero & Juan Pedro Cabrera-Sánchez & Manuel Jesús Arrás-Cortés, 2020. "Cryptocurrencies as a Financial Tool: Acceptance Factors," Mathematics, MDPI, vol. 8(11), pages 1-16, November.
    25. Vania Vigolo & Rezarta Sallaku & Federico Testa, 2018. "Drivers and Barriers to Clean Cooking: A Systematic Literature Review from a Consumer Behavior Perspective," Sustainability, MDPI, vol. 10(11), pages 1-21, November.
    26. Jian Mou & Dong-Hee Shin & Jason Cohen, 2017. "Understanding trust and perceived usefulness in the consumer acceptance of an e-service: a longitudinal investigation," Behaviour and Information Technology, Taylor & Francis Journals, vol. 36(2), pages 125-139, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hoang, Yen Hai & Ngo, Vu Minh & Bich Vu, Ngoc, 2023. "Central bank digital currency: A systematic literature review using text mining approach," Research in International Business and Finance, Elsevier, vol. 64(C).
    2. Dionysopoulos, Lambis & Marra, Miriam & Urquhart, Andrew, 2024. "Central bank digital currencies: A critical review," International Review of Financial Analysis, Elsevier, vol. 91(C).
    3. Rehman, Mubeen Abdur & Irfan, Muhammad & Naeem, Muhammad Abubakr & Lucey, Brian M. & Karim, Sitara, 2023. "Macro-financial implications of central bank digital currencies," Research in International Business and Finance, Elsevier, vol. 64(C).
    4. Helmi, Mohamad Husam & Çatık, Abdurrahman Nazif & Akdeniz, Coşkun, 2023. "The impact of central bank digital currency news on the stock and cryptocurrency markets: Evidence from the TVP-VAR model," Research in International Business and Finance, Elsevier, vol. 65(C).
    5. Agur, Itai & Ari, Anil & Dell’Ariccia, Giovanni, 2022. "Designing central bank digital currencies," Journal of Monetary Economics, Elsevier, vol. 125(C), pages 62-79.
    6. Ivonne Angelica Castiblanco Jimenez & Laura Cristina Cepeda García & Maria Grazia Violante & Federica Marcolin & Enrico Vezzetti, 2020. "Commonly Used External TAM Variables in e-Learning, Agriculture and Virtual Reality Applications," Future Internet, MDPI, vol. 13(1), pages 1-21, December.
    7. Mäntymäki, Matti & Salo, Jari, 2013. "Purchasing behavior in social virtual worlds: An examination of Habbo Hotel," International Journal of Information Management, Elsevier, vol. 33(2), pages 282-290.
    8. Nistor, Cristian, 2013. "A conceptual model for the use of social media in companies," MPRA Paper 44224, University Library of Munich, Germany.
    9. Sarv Devaraj & Ming Fan & Rajiv Kohli, 2002. "Antecedents of B2C Channel Satisfaction and Preference: Validating e-Commerce Metrics," Information Systems Research, INFORMS, vol. 13(3), pages 316-333, September.
    10. Shafiqul Islam & Mohammad Fakhrul Islam & Noor-E- Zannat, 2023. "Behavioral Intention to Use Online for Shopping in Bangladesh: A Technology Acceptance Model Analysis," SAGE Open, , vol. 13(3), pages 21582440231, September.
    11. Hongping Yuan & Yu Yang & Xiaolong Xue, 2019. "Promoting Owners’ BIM Adoption Behaviors to Achieve Sustainable Project Management," Sustainability, MDPI, vol. 11(14), pages 1-18, July.
    12. Juan F. Tavera Mesías & Juan C. Sánchez Giraldo & Bernardo Ballesteros Díaz, 2011. "Aceptación del E-Commerce en Colombia: un estudio para la ciudad de Medellín," Revista Facultad de Ciencias Económicas, Universidad Militar Nueva Granada, December.
    13. Zhiqiang Yuan & Jing Liu & Xi Deng & Tianzi Ding & Tommy Tanu Wijaya, 2023. "Facilitating Conditions as the Biggest Factor Influencing Elementary School Teachers’ Usage Behavior of Dynamic Mathematics Software in China," Mathematics, MDPI, vol. 11(6), pages 1-18, March.
    14. Yadgar Taha M. Hamakhan, 2020. "The effect of individual factors on user behaviour and the moderating role of trust: an empirical investigation of consumers’ acceptance of electronic banking in the Kurdistan Region of Iraq," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 6(1), pages 1-29, December.
    15. Liébana-Cabanillas, Francisco & Marinkovic, Veljko & Ramos de Luna, Iviane & Kalinic, Zoran, 2018. "Predicting the determinants of mobile payment acceptance: A hybrid SEM-neural network approach," Technological Forecasting and Social Change, Elsevier, vol. 129(C), pages 117-130.
    16. Deborah Compeau & Barbara Marcolin & Helen Kelley & Chris Higgins, 2012. "Research Commentary ---Generalizability of Information Systems Research Using Student Subjects---A Reflection on Our Practices and Recommendations for Future Research," Information Systems Research, INFORMS, vol. 23(4), pages 1093-1109, December.
    17. Chen Wei, 2021. "The influence of Consumers’ Purchase intention on Smart Wearable Device: A study of Consumers in East China," International Journal of Science and Business, IJSAB International, vol. 5(8), pages 46-72.
    18. Gerli, Paolo & Clement, Jessica & Esposito, Giovanni & Mora, Luca & Crutzen, Nathalie, 2022. "The hidden power of emotions: How psychological factors influence skill development in smart technology adoption," Technological Forecasting and Social Change, Elsevier, vol. 180(C).
    19. Yoon, Jeewhan & Vonortas, Nicholas S. & Han, SungWon, 2020. "Do-It-Yourself laboratories and attitude toward use: The effects of self-efficacy and the perception of security and privacy," Technological Forecasting and Social Change, Elsevier, vol. 159(C).
    20. Irfan Bashir & C. Madhavaiah, 2014. "Determinants of Young Consumers’ Intention to Use Internet Banking Services in India," Vision, , vol. 18(3), pages 153-163, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:jofsma:v:29:y:2024:i:2:d:10.1057_s41264-022-00201-9. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.