Time perspective and continuance intention to use mobile commerce the dual role of perceived risk and security

HO CHI MINH CITY---NGUYEN HUU KHOI TIME PERSPECTIVE AND CONTINUANCE INTENTION TO USE MOBILE COMMERCE: THE DUAL ROLE OF PERCEIVED RISK AND SECURITY DISSERTATION... HO CHI MINH CITY---NGUY

HO CHI MINH CITY -

NGUYEN HUU KHOI

TIME PERSPECTIVE AND CONTINUANCE INTENTION TO USE MOBILE COMMERCE:

THE DUAL ROLE OF PERCEIVED RISK AND SECURITY

DISSERTATION

HO CHI MINH CITY -

NGUYEN HUU KHOI

TIME PERSPECTIVE AND CONTINUANCE INTENTION TO USE MOBILE COMMERCE:

THE DUAL ROLE OF PERCEIVED RISK AND SECURITY

Major : Business administration Code : 9340101

DISSERTATION

Academic advisors:

1 PROF DR NGUYỄN ĐÔNG PHONG

I am very grateful also to Doctor Ho Huy Tuu (Nha Trang University) andProfessor Svein Ottar Olsen (School of Business and Economics, UiT The ArcticUniversity of Norway) for their help with the valuable comments, suggestions, andideas.

I would also like to thank you to my colleagues and friends who have givenencouragement and advice

I am especially thankful to my wife, Thai Thi Hoai Thu, for her support andunderstanding The thesis is dedicated to my beloved parents, who support me all

my life

Nguyen Huu Khoi

TABLE OF CONTENT

Declaration of authenticity i

Acknowledgments ii

Table of content iii

List of abbreviations vi

List of tables vii

List of figures viii

Abstract ix

CHAPTER 1 - INTRODUCTION 1

1.1 Definition of key terms 1

1.2 Research background 3

1.2.1 Time perspective and consideration of future consequences 3

1.2.2 Research gap 4

1.2.3 Mobile commerce adoption in Vietnamese enterprises 7

1.2.4 The selection of Vietnam as a research context for the current study12 1.3 Justification for the current research 14

1.4 Research objectives and research questions 18

1.5 Research methodology and scope 19

1.6 Research contributions 20

1.7 Research structure 21

1.8 Research limitations 22

1.9 Summary 22

CHAPTER 2 - LITERATURE REVIEW 24

2.1 Mobile commerce and its advantages 24

2.2 Continuance intention to use mobile commerce 27

2.3 Previous studies on mobile commerce 29

2.3.1 Previous studies on mobile commerce context in a Vietnam context 29 2.3.2 Previous studies on mobile commerce in an international context 37

2.3.3 Individual difference variables in mobile commerce research and

consideration of future consequences 46

2.3.4 Perceived risk and perceived security in mobile service adoption 49

2.4 Conclusion of the literature review 51

2.5 Summary 52

CHAPTER 3 - HYPOTHESES DEVELOPMENT 53

3.1 Theoretical frameworks to connect consideration of future consequences, perceived risk and security and continuance intention to use mobile commerce 53 3.1.1 Regulatory focus theory 53

3.1.2 Regulatory fit theory 55

3.2 Research hypotheses and research model 57

3.2.1 Consideration of future consequences-Immediate versus consideration of future consequences-Future 57

3.2.2 Perceived risk vs security and continuance intention to adopt mobile commerce 58

3.2.3 The relationships between time perspective and perceived risk versus perceived security 62

3.2.4 The moderating effects of CFCs 64

3.2.5 Proposed research model and hypotheses 66

3.3 Summary 68

CHAPTER 4 - RESEARCH METHODOLOGY 69

4.1 Research process 69

4.2 Pilot study 75

4.2.1 Questionnaire design 75

4.2.2 Cronbach’s Alpha testing results 80

4.3 The main study 90

4.3.1 Data collection 90

4.3.2 Data analysis method 93

4.4 Summary 96

CHAPTER 5 - RESULTS AND DISCUSSION 98

5.1 Validation of measures: reliability and validity 98

5.1.1 First-order and reflective – reflective second-order constructs 98

5.1.2 Reflective - formative second-order construct 107

5.2 Checking for common method bias 108

5.3 The strategy for testing the proposed moderating effects 109

5.3.1 Product indicator approach 109

5.3.2 Orthogonalizing approach 109

5.3.3 Two-stage approach 110

5.3.4 Justification for selecting the two-state approach 111

5.4 Testing hypotheses by applying PLS-SEM 111

5.4.1 Research model quality 112

5.4.2 The direct effects 112

5.4.3 The moderating effects 113

5.4.4 Testing for asymmetric impact 114

5.4.5 Post-hoc analysis 115

5.4.6 The summarization of hypothesis testing results 116

5.5 Hypothesis testing results summary 118

5.6 Discussion 120

5.7 Summary 123

CHAPTER 6 - CONCLUSIONS 124

6.1 Conclusion 124

6.2 Theoretical implications 125

6.3 Practical implications 130

6.4 Limitations and future research 132

6.5 Summary 134

List of author’s published papers 1

REFERENCES 3

APPENDICES 29

LIST OF ABBREVIATIONS

CFC Consideration of future consequences

CFC-Future Consideration of future consequences - Future

CFC-Immediate Consideration of future consequences - Immediate

DTPB Decomposed Theory of Planned Behavior

MISS Information systems success

PLS-SEM Partial least square structural equation modeling

UTAUT The unified theory of acceptance and use of technology

The extended unified theory of acceptance and use of

LIST OF TABLES

Table 1-1: Definition of key terms used in the present research 1

Table 2-1: Mobile commerce advantages over electronic commerce 25

Table 2-2: Previous studies on mobile commerce in a Vietnam context 30

Table 2-3: Some widely adopted theories of adoption 38

Table 3-1: The summary of regulatory focus theory 54

Table 3-2: Summarization of proposed hypotheses 66

Table 4-1: Constructs measurement 75

Table 4-2: Cronbach's Alpha testing results 80

Table 4-3: Final items of the questionnaire 86

Table 4-4: Respondents' characteristic 93

Table 5-1: Cronbach's Alpha and composite reliability 99

Table 5-2: Factor loadings and average variance extracted 100

Table 5-3: Fornell-Larcker and Heterotrait-Monotrait criterion 106

Table 5-4: Convergent testing results of reflective-formative second-order construct 108 Table 5-5: The direct effect testing results 112

Table 5-6: The moderating effect testing results 113

Table 5-7: Testing the relative importance of direct effects 114

Table 5-8: ANOVA analysis results 115

Table 5-9: Summary of path analysis testing results 117

Table 5-10: Summary of hypothesis testing results 118

LIST OF FIGURES

Figure 1-1: Websites with a mobile version 9

Figure 1-2: Enterprises with a mobile application for doing business 9

Figure 1-3: Average time-on-site of customers on the mobile versions of websites 10 Figure 1-4: Percentage of enterprises with a mobile application to support 10

Figure 1-5: Forms of advertising on websites/mobile applications 11

Figure 1-6: Advertising expenditure of the five cities 11

Figure 1-7: Evaluation of the effectiveness of online advertising forms 12

Figure 2-1: Comparison between mobile commerce and other types of commerce 25 Figure 3-1: Regulatory fit between individual focus and risk vs security perception 56 Figure 3-2: Conceptual model of consideration of future consequences 57

Figure 3-3: Proposed research model 68

Figure 4-1: Research process diagram 73

Figure 5-1: The reflective - reflective second-order construct of perceived risk .107

Figure 5-2: The reflective - formative second-order construct of perceived security 107 Figure 5-3: Path analysis results (without lower-order constructs) 119

Figure 5-4: Path analysis results (with lower-order constructs) 120

This study investigates how a specific domain consideration of futureconsequences i.e., consideration of future consequences-Immediate (CFC-Immediate) and consideration of future consequences-Future (CFC-Future)asymmetrically associate and interact with perceived risk and perceived security astrade-off constructs in predicting continuance intention to use mobile commerce.Based on a self-administered survey data set of 441 Vietnamese consumers, partialleast square structural equation modeling is used to test the hypotheses The resultsshow that CFC-Immediate and CFC-Future are important in explaining continuanceintention to use mobile commerce, but their roles are different due to theasymmetric impact on perceived risk versus perceived security as well as theirmoderating effects on the perceived risk, security and continuance intention Thisstudy is unique since it explores the different roles of CFC-Immediate and CFC-Future in explaining continuance intention to use mobile commerce under the trade-off role of perceived risk versus perceived security

Keywords: Consideration of future consequences; perceived risk and security;

continuance intention; direct, asymmetric and moderating effects

TÓM TẮT

Luận án này nghiên cứu cách thức biến số xem xét kết quả trong tương lai trongbối cảnh thương mại di động, cụ thể hơn là xem xét kết quả tương lai trong ngắn hạn(CFC-Immediate) và xem xét kết quả tương lại trong dài hạn (CFC-Future) tác độngbất đối xứng đến rủi ro cảm nhận và an toàn cảm nhận cũng như tương tác với các biến

số này trong việc dự báo ý định tiếp tục sử dụng thương mại di động Dựa trên một mẫukhảo sát tự quản lý gồm 441 người tiêu dùng Việt Nam, phương pháp mô hình cấu trúctối thiểu bán phần được sử dụng để kiểm định giả thuyết Kết quả cho thấy CFC-Immediate và CFC-Future có vài trò quan trọng trong việc giải thích ý định tiếp tục sửdụng thương mại di động, nhưng vai trò mỗi biến số là khác nhau do tác động bất đốixứng đến đến rủi ro cảm nhận và an toàn cảm nhận cũng tác động điều tiết lên mốiquan hệ giữa rủi ro cảm nhận, an toàn cảm nhận và ý định tiếp tục sử

dụng thương mại di động Luận án có những đóng góp quan trọng trong việc khámphá tác động của CFC-Immediate và CFC-Future đến ý định tiếp tục sử dụngthương mại di động dưới sự đánh đổi về cảm nhận giữa của rủi ro cảm nhận và antoàn cảm nhận.

Từ khóa: Xem xét kết quả trong tương lai; rủi ro cảm nhận và an toàn cảm nhận; ý

định tiếp tục; tác động trực tiếp, bất đối xứng và điều tiết

CHAPTER 1 - INTRODUCTION

This chapter aims to introduce the research background and to present researchgaps Accordingly, the literature review demonstrates that there still a lack of studiesthat simultaneously investigates both risk and security to form more comprehensivepictures of if and how opposite determinants are related to continuance intention to usemobile commerce This literature review additionally demonstrates the need toinvestigate continuance intention to adopt MC from the perspective of consideration offuture consequences Based on the identified research gap, this chapter postulates fourresearch objectives and four corresponding research questions Next, researchmethodology and scope are described Finally, four expected research contributions areintroduced in academic and practical ways

1.1 Definition of key terms

Table 1-1 postulates key terms used in the current studies as well as their definition

and source(s)

Table 1-1: Definition of key terms used in the present research

Mobile commerce Mobile commerce is considered as Khoi, Tuu and

conducting transactions on mobile Olsen (2018)devices (smartphone, tablets) via

wireless connections such as mobileinternet (e.g., 3G, 4G) or wirelessinternet

Consideration of future An individual differences characteristic Strathman,

consequences reflecting the extent to which people Gleicher,

consider the potential distant outcomes Boninger and

of their current behaviors and are Edwards (1994)influenced by those potential outcomes

Key terms Definition Source(s)

Consideration of future Consideration of future consequences Joireman,

consequences- scale contains questions tapping concern Balliet, Sprott,Immediate with immediate consequences Spangenberg

and SchultzConsideration of future Consideration of future consequences

consequences-Future scale contains questions tapping concern (2008)

with future consequences

Perceived risk Perceived risk is defined as potential Featherman and

negative outcomes or losses of a Pavlou (2003),decision to use mobile commerce Kim, Ferrin and

Rao (2008), Luo,

Li, Zhang andShim (2010)

Perceived security Perceived security is defined as positive Cheung and Lee

results of safety process and store (2006), Hartono,transaction information in relation to Holsapple, Kim,using mobile commerce Na and Simpson

(2014, p 12),Kim, Tao, Shinand Kim (2010b)

Continuance intention Continuance intention is defined as an Chong (2015)

to use mobile individual’s subjective probability that a

commerce consumer will continue using mobile

commerce

(Source: author’s summarization)

1.2 Research background

1.2.1 Time perspective and consideration of future consequences

According to Zimbardo, Keough and Boyd (1997), time perspective refers to anindividual's concentration on particular dimensions of time The authors categorize timeperspective into different dimensions, including Past Positive, Past Negative, PresentHedonistic, Present Fatalistic, and Future As such, time perspective can be considered as

an umbrella concept that contains ideas about the self, others and the world as well asone’s goals, expectation and memories (Przepiorka and Blachnio, 2016)

Previous studies have established a link between time perspective and a widerange of human behaviors and states, such as well-being (Boniwell, Osin, Alex Linleyand Ivanchenko, 2010, Drake, Duncan, Sutherland, Abernethy and Henry, 2008,Zhang, Howell and Stolarski, 2012a), impulsivity and impulsive behavior (Ferguson,

2006, Stolarski, Bitner and Zimbardo, 2011), health behavior (Hamilton, Kives,Micevski and Grace, 2003, Olsen and Tuu, 2017a), academic achievement (Adelabu,2007), cannabis use (Apostolidis, Fieulaine, Simonin and Rolland, 2006),environmental attitudes and behaviors (Milfont and Gouveia, 2006, Milfont, Wilsonand Diniz, 2012c) However, the role of time perspective in explaining individuals’and consumers’ behavior in online context seem to received less attention (Przepiorkaand Blachnio, 2016, Xu-Priour, Cliquet and Palmer, 2017)

Notably, a large amount of previous research has focused on future timeperspective (Andre, van Vianen, Peetsma and Oort, 2018, Baltes, Wynne, Sirabian,Krenn and Lange, 2014, Guignard, Apostolidis and Demarque, 2014, Milfont, Harré,Sibley and Duckitt, 2012a) For example, Andre et al (2018) conduct a series of meta-analyses to validate the motivational role of future time perspective on education, workand health Milfont et al (2012a) examine and find that future time perspective has astronger impact on sustainable behaviors than does a combination of past–presentperspective Baltes et al (2014) conduct a longitudinal study to investigate and foundthe relationship between future time perspective and regulatory focus, and selection,optimization, and compensation The previous results may reflect that individuals with

future-oriented have a more accurate goal and thus, they are able to keep themselves

on thinking about the benefits and costs of a behavior As such, we expect that futuretime perspective may have an important role in explaining consumer behavior in anonline context, in which consumers may have to trade-off between benefits (e.g.,security) and costs (e.g., risk)

One of the most widely adopted measurement scales of future time perspective isconsideration of future consequences (CFC; Joireman, Shaffer, Balliet and Strathman,

2012, Strathman et al., 1994) Previous studies suggested that CFC is related toregulatory focus (Joireman et al., 2012, Strathman et al., 1994), which in turn, isassociated with online shopping behavior (van Noort, Kerkhof and Fennis, 2007, vanNoort, Kerkhof and Fennis, 2008) Thus, we expect that CFC has an important role inexplaining consumers’ online shopping behavior, including mobile commerce

1.2.2 Research gap

Previous studies have considered the significant evolvement of mobile devices andmobile internet technologies in recent year (Hanafizadeh, Behboudi, Koshksaray andTabar, 2014, Malaquias and Hwang, 2016) as an important facilitator of the developmentand proliferation of mobile applications and mobile business (Celik, 2016, Lu, 2014) As aresult, mobile commerce has emerged as an alternative and modern type of shoppingamong consumers (Khoi et al., 2018, Phong, Khoi and Le, 2018, Shao, Zhang, Li andGuo, 2019) Because mobile commerce uses mobile devices and wireless internetconnection, the key benefits of this modern type of commerces are ubiquity, accessibility,convenience, localization, instant connectivity, time sensitivity and security (Anil, Ting,Moe and Jonathan, 2003, Nassuora, 2013, Sanakulov and Karjaluoto, 2015, Zhang, Zhuand Liu, 2012b) Also, mobile commerce is faster, more powerful and more effective thancomputer-based e-commerce (Hsieh, 2014)

With no exception, the development of mobile commerce depends on the attraction

of new consumers (Ovčjak, Heričko and Polančič, 2015, Sanakulov and Karjaluoto, 2015,Zhang et al., 2012b) This issue also attracts the interest of academia all over the world.Indeed, previous studies have revealed that one of the main topics is what

determinants of customer intention to use this modern type of shopping Previousstudies have categorized online shopping into mobile commerce, electronic commerce,social commerce and Facebook commerce (Khoi et al., 2018, Lam, Yeung, Lo andCheng, 2019, Wu, Shen and Chang, 2015) While mobile commerce refers toconducting transactions on mobile devices, electronic commerce is defined asconducting an online transaction via the Internet in a computer-mediated environment(Vladimir, 1996), social commerce can be seen as a subset of electronic commerce thatincludes conducting various types of commercial activities on social media (Lam et al.,2019) such as Facebook, Twitter As such Facebook commerce is social commercethat is conducted in a specific social network of Facebook (Chen, Su and Widjaja,2016) With the increasing competition between mobile commerce and other types ofcommerce, maintaining existing consumers seems to be more effective and efficient(Yuan, Liu, Yao and Liu, 2014, Zhou, 2013c, Zhou, 2013e, Zhou, 2014).

In other words, nurturing and fostering continuance intention of mobile commerceuse also is a significant issue to discover (Bhattacherjee, Perols and Sanford, 2015, Yuan

et al., 2014, Zhou, 2014) However, previous studies in a mobile commerce contextmainly focus on initial adoption while continuance adoption or repurchase loyalty receivesless attention and interest (Shao et al., 2019, Zhou, 2014) Also, prior studies have largelyadopted technology’s characteristics driving factors that are derived from well-establishedmodels such as the technology acceptance model (TAM; Davis, 1989), innovationdiffusion theory (IDT; Rogers, 1995) and the unified theory of acceptance and usage oftechnology (UATUT; Venkatesh, Morris, Davis and Davis, 2003) to increase thepredictive power of models explaining and predicting consumer continuance intention touse mobile commerce (Shao et al., 2019, Zhou, 2013b, Zhou, 2013e, Zhou, 2014) Most ofprior research focus on either promotion or barrier factors, for example, Chong (2015)adopts two constructs of technology acceptance model, which are perceived usefulnessand perceived ease of use, to explain an increase in continuance intention to use mobilecommerce while Zhou (2014) uses two variables (i.e., Information quality and systemquality) derived from the model of information

system success to explain a decrease in continuance usage of mobile payment.However, there still a lack of studies that simultaneously investigates both promotionand barrier factors, for example risk and security to form a more comprehensivepictures of if and how opposite determinants are related to continuance intention to usemobile commerce (Hanafizadeh et al., 2014, Malaquias and Hwang, 2016, Phong etal., 2018) From the practical perspective, those understanding provide policy makersand companies with insights into the development of appropriate marketing strategies

to promote the mobile commerce services use (Hsieh, 2014)

Furthermore, previous studies have documented that consumer behavior is affected

by individual differences (Hong, Lin and Hsieh, 2017, Mohamed, Hussein, HidayahAhmad Zamzuri and Haghshenas, 2014, Wang, Ngai and Wei, 2012) In general,individual difference factors have been extensively divided into personality, cognitivestyle, and demographic/situational variables (Hirschberg, 1978) Among them, personalitytraits are stable characteristics that have important roles in explaining behavior (Liu, Zhao,Chau and Tang, 2015) Personality traits such as Big Five and personal values, perceivedvalues, risk-taking propensity, personal innovativeness are adopted to explain continuance

to use innovative products and services (Hong et al., 2017, Mohamed et al., 2014, Wang etal., 2012) However, time perspective - one personality traits factor that have potential toexplain behavioral continuance intention

– is largely ignored in a mobile commerce context (Joireman and King, 2016) From theacademic perspective, the investigating of if and how time perspective is related tocontinuance intention to use mobile commerce contributes to the understanding of therelationship between personality traits and behavioral intention while from the practicalaspect, this understanding would provide managers with more insights into consumersegmenting and targeting (Olsen and Tuu, 2017b, Pozolotina and Olsen, 2019)

In a Vietnam context, previous studies (Choi and Mai, 2018, Dinh, Nguyen andNguyen, 2018, Han, Thao Nguyen and Anh Nguyen, 2016, Khoi et al., 2018, Lin andNguyen, 2011, Nguyễn Hữu Khôi, 2019, Phong et al., 2018, Phuong, Ngoc and DaiTrang, 2018) indicates that consumers’ perceptions also have influences on continuance

intention to use mobile commerce Also, the findings of these studies have suggested thatpromotion and barrier factors should be investigated in one research in order to clearlyunderstand how these contradicted determinants behavioral intention (Phong et al., 2018).

As risk and security perception are widely accepted as important determinants ofbehavioral intention (Chong, 2015, Nabavi, Taghavi-Fard, Hanafizadeh and Taghva,

2016, Zhou, 2014), and perceived risk has been investigated in some studies (Nguyễn HữuKhôi and Hồ Huy Tựu, 2017, Phong et al., 2018) while perceived security has beenlargely ignored in a Vietnam context, this study adopts perceived risk and security todelineate a research model to explain continuance intention to use mobile commerce.Besides, personality traits have been received less attention of Vietnamese scholars,generating a gap in understanding if and how individual difference or personality traitvariables directly and interactively affects consumers’ perception and consumerbehavioral intention As such, this study focuses on time perspective, more specificallyCFCs, an important variable in explaining consumer behavior (Joireman et al., 2012,Strathman et al., 1994) which is largely ignored in a Vietnam context

1.2.3 Mobile commerce adoption in Vietnamese enterprises

According to the Vietnam Ministry of Industry and Trade (2015), the developmentand application of mobile applications in business are becoming a new trend beingadopted by many enterprises Overall, it can be seen that the application of the mobileplatform seems to be limited to enterprises that have large size, long-term strategies, andplentiful resources This implies that the majority of enterprises such as SMEs seem to benot ready for this change (Vietnam E-Commerce Association, 2019) More specifically,according to Vietnam E-Commerce Association (2019), a survey indicated that in 2018,the percentage of enterprises that have mobile-based websites was 17% and this figure isnot different in the last 3 years Among enterprises with mobile-based websites orapplications, 43% allowed consumers to conduct the entire shopping process on mobiledevices, 31% specially launched promotion program, and 45% received orders throughmobile websites or applications These figures have not changed much over the past 3years Also, the rate of enterprises possessing mobile sales applications

accounted for only 14% in 2018 and witnessed no change compared to previous years.Finally, the report also indicated that the average amount of time that customers stayedwhen accessing to mobile-based e-commerce websites or applications in 2018 was notremarkable However, mobile commerce in Vietnam is still in its early stage and sofar, have failed to attract potential consumers because of many barriers, for example,high risk as well as lacking trust1 To win customer’ trust, electronic commerceexchange platforms such as Lazada and Shopee have continuously improved theirprivacy policies These privacy policies cover a wide range of topics, includingpersonal information, financial information, transaction history and refund policies.Recently, Vietnamese customers put more focus on risk when conducting onlinetransaction such as delivering wrong products, products with unidentified originality,wrong specification and refund policies among others, even with a well-establishedbrand such as Lazada or Shopee (Như Bình, 2018) Taking Lazada for example, manycustomers have complained about its new delivery and inspection policies.Accordingly, the buyer is entitled to open the package only after payment has beenmade to the shipper This new policy undoubtedly increases the risk perception bycustomers and thus, many customers have abandoned this brand (Mai Phương, 2019).More specifically, according to the Vietnam E-Commerce Association (2018),the year 2015 witnessed the boom of the mobile commerce trend Enterprises have notonly invested in mobile infrastructure but also have further developed businessoperations on this new platform Vietnamese companies have recognized theimportance of the new business channel and therefore conducting websites upgradecompatible with mobile devices and developing mobile applications for doingbusiness This trend, however, seemed to promote in developed cities such as Hanoiand Ho Chi Minh city while appeared to slow down in other regions It looks likemany companies are not seeing the benefits of mobile commerce, and the demand toshop on mobile platforms seems to be significant only in urban In Vietnam overall,the development levels are not high and unstable.

1 http://vov.vn/kinh-te/thuong-mai-dien-tu-niem-tin-nguoi-su-dung-van-la-rao-can-lon-509750.vov

Figure 1-1: Websites with a mobile version

(Source: Vietnam E-Commerce Association, 2018) Similarly, the proportion of enterprises having a mobile application for conducting

transactions in 2017 was 15%, which was the same as the one in 2016

Figure 1-2: Enterprises with a mobile application for doing business

(Source: Vietnam E-Commerce Association, 2018) The average time-on-site ofcustomers on mobile e-commerce websites or applications was not high, ranging

from 14% (over 20 minutes) to 41% (5 to 10minutes)

Regarding enterprises with a mobile website or mobile application, 42% allowedconsumers to conduct buying process from pre-purchase to post-purchase, 29% providedpromotion programs for customers purchase products with mobile devices, and

47% accepted orders via mobile applications These figures were mostly unchanged in comparing with the ones in 2016.

Figure 1-3: Average time-on-site of customers on the mobile versions of websites

(Source: Vietnam E-Commerce Association, 2018)

Figure 1-4: Percentage of enterprises with a mobile application to support

(Source: Vietnam E-Commerce Association, 2018) In 2017, social networks were themost widely used platform for advertising (43%) Advertising via search tools was31%, which was considerably lower than in 2016 The adoption of mobile applications

as an advertising platform had a slightincrement from 8% (2015) to 11% (2017)

Figure 1-5: Forms of advertising on websites/mobile applications

(Source: Vietnam E-Commerce Association, 2018) Regarding the cost forwebsite/mobile application advertising, 56% of enterprises revealed that they havepaid less than 10 million VND for the service, while 36% paid from 10 to 50 millionVND and only 8% paid more than 50 million VND for advertising Ho Chi Minh cityand Hanoi were the two regions with the highest proportion of enterprises paying more

than 50 million VND for online advertising, which are 14% and12% respectively

Figure 1-6: Advertising expenditure of the five cities

(Source: Vietnam E-Commerce Association, 2018)

Social networks and search tools were the two-advertising platforms that had thehighest perception of effectiveness for enterprises, 46% and 39% respectively.

Figure 1-7: Evaluation of the effectiveness of online advertising forms

(Source: Vietnam E-Commerce Association, 2018)

1.2.4 The selection of Vietnam as a research context for the current study

Vietnam is an interesting context for investigating continuance intention to usemobile commerce since it is considered as a promising mobile commerce market This isbecause the use of smartphones in Vietnam is rapidly increasing, and consumers/usersgradually form the habit of conducting research and purchases on their mobile phones(eMarketer, 2016) More specifically, among mobile phone users, the proportion ofsmartphone users has rapidly increased from 78% to 84% in the period 2016 - 2017 in thekey cities of Vietnam Also, among individuals under the age of 35, there exists up to 75percent use smartphones for a wide range of purposes, including entertainment, seekinginformation, listening to music, watching videos, joining social networks and doingshopping (Nielsen, 2017) Thus, the increase of smartphone users and the development ofmobile internet (3G, 4G, and 5G in near future) is expected to create a solid backgroundfor mobile commerce to flourish and expand in Vietnam In addition, Vietnam isconsidered as a promising country for developing mobile advertising with about 35% peryear (Appota, 2017) Furthermore, the application of mobile commerce into business toincrease productivity is becoming a trend in Vietnam As demonstrated

in a report by Vietnam E-Commerce Association (2018), there is over 49 percent ofVietnam’s enterprises adopt mobile apps and websites to received orders fromcustomers More interestingly, it is expected that this proportion will increase rapidly

in the future Thus, adopting mobile commerce in business activities is a trend thatmust be adopted among e-commerce enterprises in Vietnam, especially when mobilecommerce is a new, innovative and trendy among consumers all over the world Assuch, Vietnam emerges as an interesting case for scholars to investigate thedeterminants of adoption behavior (Le, Koo and Sargent, 2013, Lin, Wu and Tran,2014) such as continuance intention to use mobile commerce Thus, this study selectsVietnam as a research context for investigating how CFCs and perceived risk andsecurity are related to continuance intention to use mobile commerce

Furthermore, previous studies have emphasized the differences in consumers’perception of online shopping between developed and developing countries, due to thedifferences in cultural, social, political, economic, and technological aspects Forexample, Slade, Dwivedi, Piercy and Williams (2015) state that developed countrieshave highly developed infrastructure technologies for online shopping which in turn,drastically reduce the perceived risk and highly increase perceived security Also,Hanafizadeh et al (2014) content that in developed countries, electronic shopping ingeneral and mobile shopping in specific have integrated deeply into consumers’ lives,leading to high levels of perceived security in contrast to a low level of perceived risk.There is evidence suggesting that consumers have a different perception of promotionsuch as security and barrier factors such as risk between developed and developingcountries (Hanafizadeh et al., 2014, Malaquias and Hwang, 2016) However, most ofthe previous studies have been conducted in developed countries while developingcountries have received less attention from scholars (Khoi et al., 2018, Phong et al.,2018) This generates a call for investigating factors affecting consumers’ behavior in

a mobile commerce context in a developing country Thus, this study selects Vietnam

as an emerging research context to examine determinants of continuance intention of

mobile commerce in order to help policy makers and companies in Vietnam to developsuitable strategies to foster mobile commerce use (Hsieh, 2014).

Finally, scholars have a consensus that consumers’ loyalty is essential to thesustainable development of online shopping (Chang and Chen, 2009) In other words,the ultimate success of mobile commerce is based on the background of consumers’perceptions and whether they are willing to continue using this innovative commerce.Therefore, it is crucial to understand how and why Vietnamese consumers decide tocontinue using mobile commerce from the perspective of, for example, consumers’personality traits and perception, and thus, a study is needed to explain continuanceintention to use mobile commerce in a Vietnam context The current study not onlycontributes by providing scholars and practitioners with some insights into how topromote mobile commerce in Vietnam but also has a potential to extend and enhancethe current knowledge regarding how and why consumers’ personality traits andperceptions are associated with continuance intention to use mobile commerce

1.3 Justification for the current research

Recently, Industry 4.0 has a great impact on how businesses serve consumers.This is because it not only influences the way companies sell products and services viae-platforms such as mobile commerce but also the way to develop and consolidate astrong relationship with consumers (Theorin, Bengtsson, Provost, Lieder, Johnsson,Lundholm and Lennartson, 2016) Also, the Industry 4.0 drastically increases thecompetition between businesses in the field of mobile commerce as well as betweenmobile commerce and other types of commerce, including traditional electroniccommerce, social commerce and brick-and-motar commerce (Lin, Lee, Lau and Yang,2018) Furthermore, the Industry 4.0 increases the requirements regarding the level ofperonalized and customized products and services In other words, it changes thecustomers’ expectation about the offered products and services and thus the decision-making process of buying According to Kotler, Kartajaya and Setiawan (2016),consumers’ decision-making process is becoming more and more sophisticated andstrongly influenced by personality traits, especially in the case of experienced ones

Also, Tupa, Simota and Steiner (2017) stress that in the era of Industry 4.0, consumersare more concerned about risk and security due to the inescapable changes andtransformation causing a very high probability of new risks occurring Thus, a betterunderstanding of how personality traits and perception of risk/security affectconsumers’ decision-making process is vital and necessary.

CFC is defined as the extent to which individuals consider the potential distantoutcomes (i.e., immediate and future benefits) of their current behaviors and the extent

to which they are influenced by these potential outcomes (Strathman et al., 1994).Most previous studies also adapt the conceptualization and operationalization of CFCincluding two distinct factors, which are CFC-Immediate and CFC-Future (Arnocky,Milfont and Nicol, 2013, Joireman et al., 2012, Olsen and Tuu, 2017b) Recently well-established studies in different areas such as food behaviors (Dassen, Houben andJansen, 2015, Dassen, Jansen, Nederkoorn and Houben, 2016, Olsen and Tuu, 2017b)

or pro-environmental behaviors (Arnocky et al., 2013, Joireman et al., 2012, van Beek,Antonides and Handgraaf, 2013) have focused on consumers’ time perspective togenerate interventions toward expected outcomes for both individuals and societies.Also, previous studies suggest that CFC can be regarded as a domain-specific conceptsince individuals can be time-oriented in some spheres of life, but not in others(McKay, Perry, Cole and Magee, 2017, Olsen and Tuu, 2017b, van Beek et al., 2013).Furthermore, CFC has been largely ignored in mobile commerce context Therefore,while in responding to a call for research on the unique contributions of CFC-Immediate and CFC-Future (Joireman et al., 2008, Joireman and King, 2016), thecurrent research also contributes the exisiting literature by extending the two-factorstructure of CFC into a domain-specific immediate and future time perspective of anew context of mobile commerce

Consumers’ continuance intention to use mobile commerce is an importantbehavior that has attracted substantial attention from both e-commerce academia andpractitioners (Lin and Shih, 2008, Shao et al., 2019, Zhou, 2011) It is defined as anindividual’s subjective probability to continue using mobile commerce (Bhattacherjee,

2001a, Bhattacherjee et al., 2015) Continuance intention to use mobile commercecould reflect a consideration of a trade-off between focusing on negative results/risk(e.g., monetary loss, status loss, privacy threat) versus emphasizing positive outcomes/security (e.g., service personalization, convenience, secured financial transaction)(Ashraf, Razzaque and Thongpapanl, 2016, Kalinic and Marinkovic, 2015) thatdepend on individual differences regarding their immediate and future perspectives(Joireman et al., 2008, Joireman, Kees and Sprott, 2010, Joireman et al., 2012,Joireman, Strathman and Balliet, 2006, Olsen and Tuu, 2017b) Therefore, this studyhelps to respond to a call for filling the gaps in exploring individual differences topredict consumer behaviors in mobile commerce context (Ovčjak et al., 2015,Sanakulov and Karjaluoto, 2015, Zhang et al., 2012b) Particularly, the relative role ofCFC-Immediate and CFC-Future in relation with perceived risk and perceivedsecurity, to predict consumer continuance intention to use mobile commerce isinvestigated in the current study A knowledge on how to shift consumers from a focus

on immediate benefits and negative/risk perceptions to an emphasis on future benefitsand positive/security perspective can be important for developing effective messages

to convince consumers in increasing mobile commerce usage

Both perceived risk and perceived security are important constructs in consumerliterature, particularly in a mobile commerce area (Flavián and Guinalíu, 2006, Hartono etal., 2014, Schierz, Schilke and Wirtz, 2010) While perceived risk has long been defined

as negative perceptions and losses (Ovčjak et al., 2015, Sanakulov and Karjaluoto, 2015,Zhang et al., 2012b), perceived security has emerged to be understood as positivecognitions and potential prospect of online services (Flavián and Guinalíu, 2006, Hartono

et al., 2014, Schierz et al., 2010) According to the regulatory focus theory (Higgins,1997), perceived risk is considered to be closely associated with prevention focus (Ovčjak

et al., 2015, Sanakulov and Karjaluoto, 2015, Zhang et al., 2012b), while perceivedsecurity is usually connected to promotion focus (Flavián and Guinalíu, 2006, Hartono etal., 2014, Schierz et al., 2010, Shin, 2009) Since individuals with CFC-Immediate tend tofocus more on losses, negative results, pessimistic thoughts

and prevention orientation, while those with CFC-Future tend to focus on gains,positive consequences, optimistic thoughts and promotion orientation as guides fortheir current actions (Joireman et al., 2012), CFC-Immediate and CFC-Future mayhave asymmetric effects on perceived risk versus perceived security Therefore, thisstudy makes an effort to extend the previous studies on CFCs (e.g., Olsen and Tuu,2017b) in a mobile commerce context by exploring if and why both CFC-Immediateand CFC-Future can asymmetrically influence perceived risk and perceived security.The investigation of asymmetric impacts of CFC-Immediate and CFC-Future on bothperceived risk and perceived security is expected to provide a deeper insight into how

to consolidate positive benefits and to weaken negative perceptions or losses topromote consumers’ expected behaviors (e.g., Olsen and Tuu, 2017b)

Furthermore, it is more likely that CFC-Immediate better fits with perceived riskthan with perceived security while CFC-Future is more congruent with perceivedsecurity than perceived risk (Aaker and Lee, 2006, Higgins, 1997, Higgins, Friedman,Harlow, Idson, Ayduk and Taylor, 2001) Therefore, CFC-Immediate would makeconsumers become more and less sensitive to risk and security, respectively,meanwhile, consumers with CFC-Future tend to be less sensitive to risk and moresensitive to security This implies CFC-Immediate and CFC-Future could havecontradicting interactions with perceived risk and security to influence behavioralconsequences (c.f Kees, Burton and Tangari, 2010, Strathman et al., 1994) For thisreason, this study goes a further step to explore these moderating effects to give a morecomprehensive picture of if and why CFC can interact with perceived risk and security

to impact on continuance intention to use mobile commerce A more comprehensiveunderstanding of perceived risk and perceived security is also provided by structuringthose two constructs as reflective second-order construct versus formative second-order construct (Hartono et al., 2014, Park and Tussyadiah, 2016)

This study has some important contributions by combining CFC-Immediate andCFC-Future with perceived risk and perceived security to explain consumer continuanceintention to use mobile commerce by answering some ignored questions in a mobile

commerce context By addressing these questions, this study contributes to the body ofknowledge regarding the different effects of an important individual differencecharacteristic (CFC) on risk vs security trade-off and behavioral intention and thus,provide some implications for improving mobile commerce adoption From a practicalperspective, this study provides managers with significant insights into how to developand promote mobile commerce in Vietnam.

1.4 Research objectives and research questions

The general objective of this work is to extend previous findings of Joireman et

al (2012) and Olsen and Tuu (2017b) in (un)healthy behavior domain into mobilecommerce context to test the simultaneous impact of risk versus security oncontinuance intention to use mobile commerce under the influence of consideration offuture consequences Accordingly, the specific objectives of this research are:

Objective 1: This study aims at testing the simultaneously direct influence ofconsideration of future consequences – immediate and consideration of futureconsequences – future on continuance intention to use mobile commerce

Objective 2: This study aims at testing the simultaneous impact of perceived riskand security on consumer continuance intention to use mobile commerce

Objective 3: This study aims to test the simultaneous and different (asymmetric)influences of consideration of future consequences – immediate and consideration offuture consequences – future on the perception of risk and security

Objective 4: This study aims to discuss and test if and how consideration offuture consequences - immediate and consideration of future consequences - futureinteract with the perception of security and risk to influence continuance intention touse mobile commerce

In order to achieve the above objectives, this research postulates fourcorresponding research questions as follow:

Question 1: What is the mechanism through which CFCs simultaneously anddirectly affect continuance intention to use mobile commerce?

Question 2: What is the mechanism through which perception of risk and securityjointly influence continuance intention to adopt mobile commerce?

Question 3: What is the mechanism through which CFCs have simultaneouslyand differently effects on the perception of risk and security?

Question 4: What is the mechanism through which CFC-Future buffers(weakens) the security (risk) – continuance intention while CFC-Immediatestrengthens (dampens) the risk (security) – continuance intention relationship?

To achieve the research objectives and address the research questions, this studyuses a quantitative method The more detail of the research method is presented in thenext section

1.5 Research methodology and scope

This research is divided into two studies: the pilot study and the main study Thepilot study is conducted in order to refine the instrument (i.e., the questionnaire) withregard to arrangement, wording accuracy, and relevance The main study aims atensuring the reliability, convergent validity, discriminant validity of constructmeasurements as well as testing the proposed hypotheses

Cronbach’s Alpha test is adopted in the pilot while in the main studies, theconvergent and discriminant validity of measurements are assessed and the proposedhypotheses, including direct, moderating and relative important hypotheses are testedusing SmartPLS 3.2.8 Since we investigated consumers’ continuance intention to usemobile commerce, it was necessary that respondents should have a mobile phone, usemobile internet services (e.g., 4G) and have used mobile commerce before Thus,respondents are customers of the three biggest communication service providers inVietnam (VNPT, Mobifone, and Viettel) They are selected by asking a screeningquestion in order to ensure they have used mobile commerce before Data is collected

in a self-administered survey, and a questionnaire takes about 10-20 minutes tocomplete

1.6 Research contributions

This research had some significant contributions in both academic and practicalways Firstly, this study contributed to the deeper and broader understanding of if andhow the facilitator and barrier simultaneously influence and explain continuanceintention to use mobile commerce This study contrasted the impact of perception ofrisk and security on consumer behavioral intention While risk is widely investigated,security is an emerging factor in a mobile commerce context Thus, it is argued that theresearch results will attract more attention of researchers to discover and examineemerging factors as well as compares the effects between opposite determinants Fromthe practical perspective, the research results provided managers with more tools tofoster positive impact while weakening negative impact on continuance intention touse mobile commerce

Secondly, this study contributed to the mobile commerce literature by proposingand confirming the role of an emerging individual differences factor – consideration offuture consequences – in explaining and predicting continuance intention to use mobilecommerce The results demonstrated that while confirms the two underlying factors ofconsideration of future consequences, also provided additional insight into if and howindividual differences in consideration of future consequences relate to continuanceintention to use mobile commerce The impact of this variable on continuanceintention to use mobile commerce should be covered in future studies since it isconsidered as a promising factor in explaining consumer behavior in prior studies Interms of managerial implication, the research results provided a guide for managers toconduct, for example, interventions to encourage consumers to value and becomeaware of the positive consequences such as security while reducing concern with thenegative consequences such as risk in order to advance mobile commerce use

Third, the results helped clarify the mechanism of increasing/reducing continuanceintention to use mobile commerce in which, regulation focuses (promotion vs prevention)play an important role It can be that a promotion focus such as activation of positiveconscious will promote continuance intention to use mobile commerce,

whereas a prevention focus such as an increase of negatively immediate outcomes willreduce continuance intention to use mobile commerce From the academic perspective,this generated the need to conduct more studies to better understand the link betweenCFCs, regulatory focus, and behavioral intention in mobile commerce context whilefrom a practical perspective, CFCs and regulation focus can be used as a criterion tosegment and target consumers.

Finally, this pioneering study provided a deep and broad knowledge of the role ofconsideration of future consequences in explaining continuance intention to use mobilecommerce by investigating moderating effects consideration of future consequences onthis dependent variable The moderating effects provided evidence of how personalitytraits interact with cognitive evaluation to influence behavior

1.7 Research structure

This study’s structure includes six chapters The first chapter aims at introducingthe research background and present the research problem Next, this chapterpostulates research objectives and corresponding research questions This chapter alsodescribes research methodology and scope and finally, introduces the researchcontributions in academic and practical ways

In the second chapter, the effort is put into doing a literature review to clarify theresearch gap and provide clearer arguments for integrating consideration of futureconsequences, perception of risk and security and continuance intention to use mobilecommerce to form the research model

The third chapter, research hypotheses, and research model are developed andproposed

This chapter also describes the methodology to conduct pilot and main studies.Specifically, this chapter delineates the process of research questionnaire development,data collection, and data screening Also, this chapter is concerned with analysis resultssuch as Cronbach’s Alpha, composite reliability, average variance extracted to ensure thereliability, convergent and discriminant validity of the measurements Finally, in this

chapter, how the partial least square structural equation modeling (PLS-SEM)technique is adopted to test the direct and moderating effects is also clarified.

In the fourth chapter, the results of the present study are demonstrated, includingthe descriptive statistics of observed items; reliability, convergent and discriminantvalidity of the measurements; and hypotheses testing results

The final chapter provides the conclusions of this research Also, this chapterpostulates some significant theoretical and practical implications for both scholars andmarketers who have motivations to promote the developments of mobile commerce.Finally, in this chapter, some limitations for future studies are presented

1.8 Research limitations

The current study has some limitations Firstly, the current data is collected from

a single self-administered, correlational data Thus, the findings would more general ifthe sample is collected from different countries (i.e., cross-culture) Second, the currentstudy does not cover actual mobile commerce use, which can be seen as a moreinsightful variable Third, the current data are based on self-reports perception;therefore, response biases could be problematic Finally, this study adapts CFC as ameasurement of time perspective, which considers immediate and future consequencesand ignores the past

1.9 Summary

This chapter aims at providing a research background on mobile commerce Also,this chapter postulates the research gaps Briefly, it is the if and how the perception of riskand security simultaneously affects continuance intention to use mobile commerce underthe influence of considerations of future consequences that generates the need to conductthis study Also, based on the research gap, this study delineates the research methodologyand research scope Regarding the research methodology, this research includes twostudies: the pilot study and the main study The pilot study aims at developing and testingthe draft scale while the main study aims at testing the reliability, convergent anddiscriminant validity of the construct measurements PLS-SEM technique with SmartPLS3.2.8 is adopted to test the hypotheses This chapter also

outlines some significant contributions in both academic and practical ways Finally, the structure of this thesis is demonstrated and research limitations are presented.

CHAPTER 2 - LITERATURE REVIEW

In this chapter, the effort is put into doing a literature review to clarify theresearch gap which provides clearer arguments for investigating if and how theperception of risks and security are related to continuance intention to use mobilecommerce under the influence of consideration of future consequences This includes(1) mobile commerce and its advantages, (2) mobile commerce in Vietnam, (3)theories of adoption, (4) individual difference variables in mobile commerce researchand (5) mobile commerce research in Vietnam

2.1 Mobile commerce and its advantages

Mobile commerce is considered as conducting transactions on mobile devices(smartphones, tablets) via wireless connections such as mobile internet (e.g., 3G, 4G) orwireless internet (Khoi et al., 2018) Mobile commerce allows consumers to conductmonetary transactions anywhere via mobile devices and mobile internet (Hsieh, 2014,Khoi et al., 2018) Compared to traditional electronic commerce, which is defined asconducting online transactions via the Internet in a computer-mediated environment(Vladimir, 1996), mobile commerce could be considered as a natural extension oftraditional e-commerce (Chong, Chan and Ooi, 2012, Kourouthanassis and Giaglis, 2012).Previous studies have also mentioned social commerce, which refers to utilizing Web 2.0features such as user-generated content and sharing of content in e-commerce or the use ofthe social network(s) such as Facebook, Twitter in the context of e-commerce transactions(Lam et al., 2019, Wu et al., 2015) Thus, social commerce is a subset of traditionalcommerce and Facebook commerce is a subset of social commerce Therefore, in thisstudy, electronic commerce refers to not only electronic commerce but also social andFacebook commerce One of the key advantages of social commerce and Facebookcommerce is that they consumers may consult their social community to seek advice intheir purchasing decisions, share product information with their friends or sell products orservices via social media (Lam et al., 2019, Wu et al., 2015)

Figure 2-1 summarizes the similarities and differences between mobile commerceand other types of commerce Accordingly, Facebook commerce can be seen as a subset

of social commerce, which, in turn, a subset of electronic commerce (Lam et al., 2019,

Wu et al., 2015) Mobile commerce can be seen as an extension of electronic commerce(Chong et al., 2012, Kourouthanassis and Giaglis, 2012) However, there is an intersectionbetween Facebook commerce and mobile commerce since consumers may use mobiledevices to conduct online purchases on social networks such as Facebook

Figure 2-1: Comparison between mobile commerce and other types of commerce

However, mobile commerce has many advantages over electronic commerce, such

as ubiquity, accessibility, convenience, and localization In Table 2-1, we summarizesome of the unique advantages of mobile commerce compared to traditional EC

Table 2-1: Mobile commerce advantages over electronic commerce

Ubiquity: mobile commerce allows customers to conduct Nassuora (2013), Zhangtransactions without depending on time and places et al (2012b)

Accessibility: mobile commerce users can be received Sanakulov andinformation from a store without depending on time and Karjaluoto (2015)

Unique characteristics Source

places

Convenience: mobile commerce enables portability as well Sanakulov and

as allow consumers to store data to use later Karjaluoto (2015)

Localization: mobile commerce enables consumers to

receive relevant information based on their language, Zhang et al (2012b)culture, etc

Instant connectivity: mobile commerce enables the

"always-on" of Internet access due to the emergence and

development of mobile data networks (3G, 4G) Therefore, Nassuora (2013)

mobile commerce users can conduct mobile commerce

transaction more effective and more efficiently

Time sensitivity: mobile commerce users can access to

real-time information For example, they can know exactly Anil et al (2003)

how many items in stock or which stores are on sale

Security: Mobile devices have more security Nabavi et al (2016)characteristics compared to PC and laptop

(Source: author’s summarization)These unique advantages, together with the number of smartphone users is rapidlyincreasing, it is expected that mobile commerce would benefit consumers much morethan e-commerce (Chong et al., 2012) Mobile commerce services offer innovative and

advanced features that provide a new way of application and data presentation, process,and interaction compared to a PC or laptop computer that has generated a whole new set

of services such as location-based services, context sensing services and push delivery

Furthermore, the development of mobile devices and mobile Internet technologies have

fostered the development of super apps, which bring consumer with more additionalbenefits such as epistemic and conditional value This has sparked wholly new servicecategories that do not exist in electronic commerce (Hsieh, 2014, Kourouthanassis and