Knowledge Economy Studies

The Role of Materialism in Using Banking Applications Based on the Extended Theory of Planned Behavior

Document Type : Original Article

Authors

Mohammad Nazaripour 1
Babak Zakizadeh 2
Amir Mohammad Heidari 3

1 Associate Professor, Department of Accounting, Hazrat-e Masoumeh University, Qom, Iran.

2 Department of Management, Islamic Azad University Sanandaj Branch, Sanandaj, Iran.

3 Department of Accounting, University of Kurdistan, Sanandaj, Iran.

https://doi.org/10.22034/kes.2024.717153
Abstract
Banking applications serve as mobile tools enabling users to carry out essential banking tasks on their mobile devices. Materialism, defined as a focus on acquiring materialistic goods and physical comforts, is the central theme of this study, which investigates its influence on the use of banking applications. The research is grounded in the extended theory of planned behavior, with a practical and descriptive survey methodology. Data were collected from 282 users of banking apps via questionnaires, and the analysis was conducted using Structural Equation Modeling. The findings showed that attitude, subjective norms, and perceived behavioral control together explained 56% of the variance in behavioral intention. By incorporating the three dimensions of materialism—success, centrality, and happiness—the research extended the theory of planned behavior, increasing its effectiveness in explaining the intention to use banking apps. Moreover, the findings revealed that attitude played a mediating role between the three dimensions of materialism and the intention to use banking apps. Additionally, the subjective norms mediated the relationship between success and happiness and the intention to use the apps. However, perceived behavioral control did not act as a mediator between the dimensions of materialism and the intention to use mobile apps. These findings offer valuable insights for the users of banking apps, policymakers, and bank managers.

Keywords

Banking Applications
Extended Theory of Planned Behavior
Materialism

Subjects

Aboelmaged, M., & Gebba, T. R. (2013). Mobile banking adoption: an examination of technology acceptance model and theory of planned behavior. International journal of business research and development, 2(1).
Ahamed, A. J., & Limbu, Y. B. (2018). Dimensions of materialism and credit card usage: an application and extension of the theory of planned behavior in Bangladesh. Journal of Financial Services Marketing, 23, 200-209.
Ahuvia, A., & Wong, N. (1998). The effect of cultural orientation in luxury consumption. Advances in Consumer Research, 25(1), 29-32.
Ajzen, I. (1991). The theory of planned behavior. Organizational behavior and human decision processes, 50(2), 179-211.
Ajzen, I. (2006). Constructing a theory of planned behavior questionnaire. University of Massachusetts Amherst.
Ajzen, I., and M. Fishbein. (1980). Understanding attitudes and predicting social behaviour. Eglewood Cliffs, NJ: Prentice Hall.
Alipour Shirsavar, H., Gilaninia, S., & Mohammadi Almani, A. (2012). A Study of factors influencing positive word of mouth in the Iranian banking industry. Middle-East Journal of Scientific Research, 11(4), 454-460.
Arvola, A., Vassallo, M., Dean, M., Lampila, P., Saba, A., Lähteenmäki, L., & Shepherd, R. (2008). Predicting intentions to purchase organic food: The role of affective and moral attitudes in the Theory of Planned Behaviour. Appetite, 50(2-3), 443-454.
Baker, R. K., & White, K. M. (2010). Predicting adolescents’ use of social networking sites from an extended theory of planned behaviour perspective. Computers in Human Behavior, 26(6), 1591-1597.
Belk, R. W. (1985). Materialism: Trait aspects of living in the material world. Journal of Consumer research, 12(3), 265-280.
Cakarnis, J., & D'Alessandro, S. P. (2015). Does knowing overcome wanting? The impact of consumer knowledge and materialism upon credit card selection with young consumers. Young Consumers, 16(1), 50-70.
Coleman, M. (2019). Exploring the relationship between wealth and happiness in an international context. Intuition: The BYU Undergraduate Journal of Psychology, 14(2), 5.
Donnelly, G., Ksendzova, M., & Howell, R. T. (2013). Sadness, identity, and plastic in over-shopping: The interplay of materialism, poor credit management, and emotional buying motives in predicting compulsive buying. Journal of Economic Psychology, 39, 113-125.
Fitzmaurice, J., & Comegys, C. (2006). Materialism and social consumption. Journal of marketing theory and practice, 14(4), 287-299.
Goldsmith, R. E., & Clark, R. A. (2012). Materialism, status consumption, and consumer independence. The Journal of social psychology, 152(1), 43-60.
Hair Joseph, F., Black William, C., Babin Barry, J., & Anderson Rolph, E. (2010). Multivariate data analysis: A global perspective.
Heaney, J. G., Goldsmith, R. E., & Jusoh, W. J. W. (2005). Status consumption among Malaysian consumers: Exploring its relationships with materialism and attention-to-social-comparison-information. Journal of International Consumer Marketing, 17(4), 83-98.
Helm, S., Serido, J., Ahn, S. Y., Ligon, V., & Shim, S. (2019). Materialist values, financial and pro-environmental behaviors, and well-being. Young Consumers, 20(4), 264-284.
Hurst, M., Dittmar, H., Bond, R., & Kasser, T. (2013). The relationship between materialistic values and environmental attitudes and behaviors: A meta-analysis. Journal of Environmental Psychology, 36, 257-269.
Isham, A., Verfuerth, C., Armstrong, A., Elf, P., Gatersleben, B., & Jackson, T. (2022). The problematic role of materialistic values in the pursuit of sustainable well-being. International journal of environmental research and public health, 19(6), 3673.
Islam, R., Islam, R., & Mazumder, T. (2010). Mobile application and its global impact. International Journal of Engineering & Technology, 10(6), 72-78.
Islam, T., Wei, J., Sheikh, Z., Hameed, Z., & Azam, R. I. (2017). Determinants of compulsive buying behavior among young adults: The mediating role of materialism. Journal of adolescence, 61, 117-130.
Jafari, A. (2007). Two tales of a city: An exploratory study of cultural consumption among Iranian youth. Iranian Studies, 40(3), 367-383.
Jayatilleke, B. G., Ranawaka, G. R., Wijesekera, C., & Kumarasinha, M. C. (2018). Development of mobile application through design-based research. Asian Association of Open Universities Journal, 13(2), 145-168.
Jermsittiparsert, K., Wongsuwan, N., & Akkaya, B. (2023). Subjective norms and behavioural intention of e-banking adoption: mediating role of perceived usefulness. In Two Faces of Digital Transformation: Technological Opportunities versus Social Threats. Emerald Publishing Limited, Leeds, 177-193.
Karabati, S., & Cemalcilar, Z. (2010). Values, materialism, and well-being: A study with Turkish university students. Journal of economic psychology, 31(4), 624-633.
Kaur, J., Parida, R., Ghosh, S., & Lavuri, R. (2022). Impact of materialism on purchase intention of sustainable luxury goods: an empirical study in India. Society and Business Review, 17(1), 22-44.
Kilbourne, W., Grünhagen, M., & Foley, J. (2005). A cross-cultural examination of the relationship between materialism and individual values. Journal of Economic Psychology, 26(5), 624-641.
Kline, R. B. (2023). Principles and practice of structural equation modeling. Guilford publications, NewYork.
Li, X., Dai, J., Zhu, X., Li, J., He, J., Huang, Y., & Shen, Q. (2023). Mechanism of attitude, subjective norms, and perceived behavioral control influence the green development behavior of construction enterprises. Humanities and Social Sciences Communications, 10(1), 1-13.
Mariano, A. M., Silva, M. C., Mello, T. M., & Santos, M. R. (2022). The importance of mobile applications for companies' brand image: A study using structural equations. Procedia Computer Science, 214, 1128-1135.
Masoom, M. R., & Moniruzzaman Sarker, M. (2017). Rising materialism in the developing economy: Assessing materialistic value orientation in contemporary Bangladesh. Cogent Business & Management, 4(1), 1345049.
Melnyk, V., van Herpen, E., & Van Trijp, J. C. M. (2010). The influence of social norms in consumer decision making: A meta-analysis. Advances in consumer research, 37, 463-464.
Mishra, V., Walsh, I., & Srivastava, A. (2022). Merchants’ adoption of mobile payment in emerging economies: the case of unorganised retailers in India. European Journal of Information Systems, 31(1), 74-90.
Nga, J. K., Yong, L. H., & Sellappan, R. (2011). The influence of image consciousness, materialism and compulsive spending on credit card usage intentions among youth. Young Consumers, 12(3), 243-253.
Pandya, P., & Pandya, K. (2020). An empirical study of compulsive buying behaviour of consumers. Alochana Chakra J, 9(6), 4102-4114.
Richins, M. L. (2004). The material values scale: A re-inquiry into its measurement properties and the development of a short form. Journal of Consumer Research, 31, 209-219.
Richins, M. L., & Dawson, S. (1992). A consumer values orientation for materialism and its measurement: Scale development and validation. Journal of consumer research, 19(3), 303-316.
Rubin, A, & Babbie, ER (2016). Empowerment series: Research methods for social work. Cengage Learning.
Shirkhodaei, M., Ghasemi Hamdani, I., Habibnejad Lojandi, L. (2016). The effect of the value of pluralism, trust, quality and risk perception in the consumer's intention to purchase organic products (Case study: consumers of organic products Hormozgan Province). Journal of Hormozgan Cultural Research Review, 7(12), 75-89. (In Persian).
Sirgy, M. J. (1999). Materialism: The construct, measures, antecedents, and consequences. Academy of Marketing Studies Journal, 3(2), 78-110.
Tatzel, M. (2002). “Money worlds” and well-being: An integration of money dispositions, materialism and price-related behavior. Journal of Economic Psychology, 23(1), 103-126.
Van Boven, L., Campbell, M. C., & Gilovich, T. (2010). Stigmatizing materialism: On stereotypes and impressions of materialistic and experiential pursuits. Personality and Social Psychology Bulletin, 36(4), 551-563.
Watchravesringkan, K. (2012). Cross-cultural equivalence of materialistic values scale (MVS): An exploratory study between the United States and Thailand. Journal of Targeting, Measurement and Analysis for Marketing, 20, 235-253.
Watson, J. J. (2003). The relationship of materialism to spending tendencies, saving, and debt. Journal of economic psychology, 24(6), 723-739.
Yousafzai, S. Y., Foxall, G. R., & Pallister, J. G. (2010). Explaining internet banking behavior: theory of reasoned action, theory of planned behavior, or technology acceptance model? Journal of applied social psychology, 40(5), 1172-1202.
Knowledge Economy Studies
Volume 1, Issue 1
April 2024
Pages 51-69

Home

Submit Manuscript

Contact Us