The Effects of Consumers’ Risk Perception towards Online Purchasing Behaviors with Prior Experiences and Return Policy as Moderating …academic-journal.org/EC/jsystem/Issue/v8n1-2010/v8n1p2.pdf ·

2010

37-70

-

The Effects of Consumers Risk Perception towards Online Purchasing Behaviors with Prior Experiences and Return

Policy as Moderating Variables

Abstract

Online purchase brings online retailers huge revenues and

opportunities, but there are still some risks exist in it. Due to the

characteristics of online transaction, customers can not inspect products

38

38

during the process. Thus, customers may worry that the products are

unsuitable or not as good as anticipated. Furthermore, security and privacy

issues toward the online transaction are also major concerns for customers

which may stop customers to shop online. Hence this thesis proposed a

model exploring the impact of the risk perception on customers online

purchasing intention.

The results showed that intention to purchase on the Internet was

affected positively by consumers attitudes toward online purchase.

Consumers attitudes were affected by consumers trust and risk perception.

Risk perception, however, does not exhibit direct influence to the intention

to purchase on the Internet. As for the antecedents of risk perception, we

found that websites return policy, privacy, trust and security as significant

factors influencing online consumers risk perception. Theoretical and

managerial implications are discussed.

Keywords: online purchase intention, risk perception, return policy

2008 B2C2008 1,365 20092005-2009 (CAGR) 30.2% 3C 1

Forrester 2004 2 ACI-IDEA-FIND 32 3 4, 5

Forsythe and Shi 6

Electronic Commerce Studies

39

39

7-15 13, 15-20 6, 15, 20, 21

22-25 Jarvenpaa, Tractinsky Vitale

26 27, 28

2006 29

(77%)(43%) 2006 30 18, 31-35

Jarvenpaa et al. 26

40

40

Jarvenpaa et al. 26

Wilkie36

Cheung et al. 25Chang et al.

24

Fishbein and Ajzen 37

27 38 24, 25


41

41

Hoyer and Macinnis 39Doob 40 41

11, 14, 24, 26, 28, 42Teo 43 44 45

Bauer 46Cox 47

7-15 13, 15-20 6, 15, 21

B2C 6, 14, 16, 21, 48, 49Pavlou 21 19 43, 48, 50, 51

7,

24, 52

42

42

28MayerDavis Schoorman 53RousseauSitkinBurt Camerer 54

19, 24,

55-57 20-22, 52, 58 19, 23

26, 48

Forsythe and Shi 6Cho 14Miyazaki and Fernandez 51

59 502007 2006 30

15, 43, 50,

51, 59


43

43

15, 50, 51, 59, 60Teo 43Schoenbachler and Gordon (2002) 10 9, 15, 24, 38, 48

59, 61 2006 30 62

5 15, 43, 50, 51, 59, 63

Phelps et al.64 9, 15, 24, 38, 48

18, 33(77%)(43%) 2006 30

18, 65

33

44

44

32

66 18 43

18, 67 68, 69Wood (2001) 18

66, 70 18Moorthy and Srinivasan 31

32, 65, 71 14, 34Tan 17

13, 14, 20, 48, 72

Jarvenpaa, Tractinsky and Vitale

Jarvenpaa et al. 26


45

45

27, 28, 73

1Jarvenpaa, Tractinsky and Vitale

Jarvenpaa, Tractinsky and Vitale26

Jarvenpaa et al.

26 2

TRA(Theory of Reasoned Action) TPB(Theory of Planned Behavior) 37, 74TRA 38, 41 11, 14, 28, 42

1

46

46

Jarvenpaa et al. 26 21, 27

2

2

Jarvenpaa et al.

26 Chang et al. 24 9, 16, 27, 28, 52

3

20-22, 52, 58

H

8

H

4

H7

H6

H5 H3 H

1

H2

/

H9A/H9B


47

47

Van der Heijden et al. 28Jarvenpaa et al. 26

4

Jarvenpaa et al. 26 19,

24, 27, 28 16, 21

5

Teo 43Miyazaki and Fernandez

38, 50, 51

6

7

Liang and Lai 34 Cho 14

8

48

48

14 75 14

Corbitt et al. 20

51, 76, 77

9A

9B

(Likert 5-point scale) 54321


49

49

BBS

LISRELPLS

78 79PLS 80 LISREL PRELIS PLS 81 PLS SPSS

653 527 93.5% 23% 1

2

3

50

50

1

(%)

21 4%

1 117 22.2%

1 ~ 3 207 39.3%

3 182 34.5%

5 374 71%

5 ~ 10 94 17.8%

11 59 11.3%

52 9.9%

1 ~ 2 161 30.6%

3 ~ 10 231 43.8%

11 83 15.7%

28 5.3%

3 346 65.7%

3 ~ 6 87 16.5%

6 ~ 1 40 7.6%

1 26 4.9%

28 5.3%

500 175 33.2%

501 ~ 3000 273 51.8%

3001 ~ 6000 30 5.7%

6001 21 3.9%

121 23%

406 77%


51

51

2

SE1 2.87 0.87

SE2 2.98 0.91

PR1 3.6 0.76

PR2 3.41 0.81

RET1 3.66 0.88

RET2 3.65 0.88

RET3 3.87 0.83

RISK1 3.85 0.68

RISK2 3.93 0.67

RISK3 3.41 0.78

TRU1 3.14 0.63

TRU2 3.2 0.65

TRU3 3.04 0.71

TRU4 3.21 0.67

ATT1 3.7 0.66

ATT2 3.73 0.67

ATT3 3.59 0.78

ATT4 3.5 0.72

INT1 3.82 0.74

INT2 3.87 0.72

INT3 3.88 0.74

Cronbachs 3 Cronbachs 0.66~0.93 Jomes and James Cronbachs 0.6 82

AVE

52

52

(Average Variance Extracted, AVE) 0.583 3 AVE AVE 0.5

(Average Variance Extracted, AVE) 84 3

0.810.72

3

1 AVE SE PR RET RISK TRU ATT INT

(SE)

0.89 0.90 0.952

(PR)

0.66 0.75 -0.33 0.87

(RET)

0.81 0.73 -0.26 0.28 0.85

(RISK)

0.80 0.66 0.41 -0.28 -0.16 0.81

(TRU) 0.83 0.72 -0.35 0.42 0.47 -0.33 0.85

(ATT) 0.87 0.72 0.38 -0.14 -0.14 0.52 -0.26 0.85

(INT)

0.93 0.88 0.35 -0.12 -0.11 0.37 -0.21 0.72 0.94

1: Cronbachs

2: AVE (Square root of AVE)


53

53

3 (p > 0.05) 52% 28% 35%

* p

54

54

4

H1

H2

H3

H4

H5

H6

H7

H8

(=0.49, p


55

55

(=0.24, p

56

56

5

(493)

(34) f p

2.96 2.43 5.38

0.000

3.49 3.71 -1.78 0.075

3.71 3.96 -2.32 0.026

3.71 3.97 -2.43 0.016

3.15 2.8 3.48

0.000

3.64 3.05 6.01

0.000

3.91 3.15 6.01

0.000

* p


57

57

7

(N=493)

(N=34)

(N=120)

(N=373)

H1 0.70*** 0.63*** 0.67*** 0.70***

H2 -0.03 -0.09 -0.07 -0.02

H3

-0.09* -0.06 -0.03 -0.10*

H4 0.48*** 0.36** 0.43*** 0.51***

H5 -0.16*** -0.15 -0.23** -0.13**

H6 -0.13** 0.17 -0.08 -0.15**

H7 0.24** 0.30* 0.29** 0.23***

H8 0.33*** 0.71*** 0.28** 0.35***

1 p

58

58

(=0.3, p


59

59

Jarvenpaa et al. 26

60

60

Jarvenpaa et al. 26


61

61

30 PLS bootstraping

Vijayasarathy38 Cho14

[1] 2008 B2C 2008 12

62

62

[2] http://www.find.org.tw/find/home.aspx?page=trendandid=1320

2005 2007 4

[3] http://www.find.org.tw/find/home.aspx?page=manyandid=1272006 2007 4

[4] Jacobs, P., Privacy: what you need to know, InfoWorld, Vol. 19, No. 44,

1997, pp. 111-112.

[5] Hoffman, D. L., Novak, T. P. and Peralta, M., Building consumer trust

online, Communication of the ACM, Vol. 42, No. 4, 1999, pp.

80-85.

[6] Forsythe S. M. and Shi, B., Consumer patronage and risk perceptions

in internet shopping, Journal of Business Research, Vol. 56, No.

11, 2003, pp. 867-875.

[7] Bhatnagar, A., Misra, S. and Rao, H. R., On risk, convenience, and

internet shopping behavior, Communications of the ACM, Vol.

43, No. 11, 2000, pp. 98-105.

[8] Jung, B., Han, I. and Lee, S., Security threats to Internet: a Korean

multi-industry investigation, Information and Management, Vol.

38, No. 8, 2001, pp. 487-498.

[9] Ruyter, K. D., Wetzels, M. and Kleijnen, M., Customer adoption of

e-service: an experimental study, International Journal of Service

Industry, Vol. 12, No. 2, 2001, pp. 184-207.

[10] Schoenbachler, D. D. and Gordon, G. L., Multi-channel shopping:

understanding what drives channel choice, The Journal of

Consumer Marketing, Vol. 19, No. 1, 2002, pp. 42-53.

[11] Vijayasarathy, L. R., Product characteristics and internet shopping

intentions, Internet Research, Vol. 12, No. 5, 2002, pp. 411-426.

[12] Featherman, M. S. and Pavlou, P. A.. Predicting e-services adoption: a

perceived risk facets perspective, International Journal of

Human-Computer Studies, Vol. 59, No. 4, 2003, pp. 451-474.


63

63

[13] Bhatnagar, A. and Ghose, S., Segmenting consumers based on the

benefits and risks of internet shopping, Journal of Business

Research, Vol. 57, No. 12, 2004, pp. 1352-1360.

[14] Cho, J., Likelihood to abort an online transaction influences from

cognitive evaluations, attitudes, and behavioral variables,

Information and Management, Vol. 41, No. 7, 2004, pp. 827-838.

[15] Cho, C. H., Kang, J. and Cheon, H. J., Online shopping hesitation,

Cyberpsychology and Behavior, Vol. 9, No. 3, 2006, pp.

261-274.

[16] Jarvenpaa, S. L., Consumer trust in an internet store: A cross-cultural

validation, Journal of Computer-Mediated Communication, Vol.

5, No. 2, 1999. pp. 1-35.

[17] Tan, S. J., Strategies for reducing customers risk aversion and

internet shopping, Journal of consumer marketing, Vol. 16, No. 2,

1999, pp. 163-180.

[18] Wood, S. L. Remote purchase environments the influence of return

policy leniency on two-stage decision processes, Journal of

Marketing Research, Vol. 38, No. 2, 2001, pp. 157-169.

[19] McKnight, D. H., Choudhury, V. and Kacmar, C., The impact of

initial consumer trust on intentions to transact with a web site a

trust building model, Journal of Strategic Information Systems,

Vol. 11, No. 3-4, 2002, pp. 297-323.

[20] Corbitt, B. J., Thanasankit, T. and Yi, H., Trust and e-commerce: a

study of consumer perceptions, Electronic Commerce Research

and Application, Vol. 2, No. 3, 2003, pp. 203-215.

[21] Pavlou, P. A., Consumer acceptance of electronic commerce

integrating trust and risk with the technology acceptance model,

International Journal of Electronic Commerce, Vol. 7, No. 3,

2003, pp. 101-134.

[22] Gefen, D. and Straub, D. W., Consumer trust in B2C e-commerce and

the importance of social presence experiments in e-products and

e-services, Omega, Vol. 32, No. 6, 2004, pp. 407-424.

64

64

[23] Slyke, C. V., Belanger, F. and Comunale, C. L., Factors influencing

the adoption of web-based shopping: the impact of trust, ACM

SIGMIS Database, Vol. 35, No. 2, 2004, pp. 32-49.

[24] Chang, M. K., Cheung, W. and Lai, V. S., Literature derived reference

models for the adoption of online shopping, Information and

Management, Vol. 42, No. 4, 2005, pp. 543-559.

[25] Cheung, C. M. K., Chan, G. W. W. and Limayem, M., A critical

review of online consumer behavior Empirical Research,

Journal of Electronic Commerce, Vol. 3, No. 4, 2005. pp. 1-19.

[26] Jarvenpaa, S. L., Tractinsky, N. and Vitale, M., Consumer trust in an

internet store, Information Technology and Management, Vol. 1,

No. 1-2, 2000, pp.45-71.

[27] Kimery, K. M. and Mccord, M., Third-party assurances: mapping the

road to trust in e-retailing, Journal of Information Technology

Theory and Application, Vol. 4, No. 2, 2002, pp. 63-82.

[28] Van der Heijden, H., Verhagen, T. and Creemers, M., Understanding

online purchase intentions contributions from technology and

trust perspectives, European Journal of Information Systems, Vol.

12, No. 1, 2003, pp. 41-48.

[29] 2006

[30] 2006 B2C http://mic.iii.org.tw/intelligence/reports/pop_Doc_review.asp?do

cid=DOC20061113001andcate=ECDC2006 2007 4

[31] Moorthy, S. and Srinivasan, K., Signaling quality with a money-back

guarantee the role of transaction costs, Marketing Science, Vol.

14, No. 4, 1995, pp. 442-466.

[32] Hess, J. D. and Mayhew, G. E., Modeling merchandise returns in

direct marketing, Journal of Direct Marketing, Vol. 11, No. 2,

1997, pp. 20-35.


65

65

[33] Van den Poel, D. and Leunis, J., Consumer acceptance of the internet

as a channel of distribution, Journal of Business Research, Vol.

45, No. 3, 1999, pp. 249-256.

[34] Liang, T. P. and Lai, H. J., Effect of store design on consumer

purchases: an empirical study of on-line bookstores, Information

and Management, Vol. 39, No. 6, 2002, pp. 431-444.

[35] Bechwati, N. N. and Siegal, W. S., The impact of the prechoice

process on product returns, Journal of Marketing Research, Vol.

42, No. 3, 2005, pp. 358-367.

[36] Wilkie, W. L., Consumer Behavior, 1994, 3th ed., New York, John

Wiley and Sons.

[37] Fishbein, M. and Ajzen, I., Belief, Attitude, Intention, and Behavior:

An Introduction to Theory and Research, 1975, 1st ed., MA:

Addison-Wesley.

[38] Vijayasarathy, L. R., Predicting consumer intentions to use on-line

shopping: the case for an augmented technology acceptance,


[39] Hoyer, W. D. and Macinnis, D. J., Consumer Behavior, 2001, 2nd ed.,

Boston: Houghton Mifflin Company.

[40] Doob, L. W., The behavior of attitude, Psychological Review, Vol. 54,

No. 3, 1947, pp. 135-156.

[41] Lee, H. Y., Qu, H. and Kim, Y. S., A study of the impact of personal

innovativeness on line travel shopping behavior-A case study of

Korean travelers, Tourism Management, Vol. 28, No. 3, 2007, pp.

886-897.

[42] Chen, L. D., Gillenson, M. L. and Sherrell, D. L., Enticing online

consumers: an extended technology acceptance perspective,


[43] Teo, T. S. H., Attitudes toward online shopping and the internet,

Behaviour and Information Technology, Vol. 2, No. 21, 2002, pp.

259-271.

[44] 1994

66

66

[45] 2002

[46] Bauer, R. A., Dynamic marketing for a changing world, 1960, 1st ed.,

Chicago: American Marketing association.

[47] Cox, D. F., Risk taking and information handing in consumer

behavior, 1967, 1st ed.., Boston: Harvard University Press.

[48] Lim, N., Consumer perceived risk: sources versus consequences,

Electronic Commerce Research and Application, Vol. 2, No. 3,

2003, pp. 216-228.

[49] Wu, J. H. and Wang, S. C., What drives mobile commerce? An

empirical evaluation of the revised technology acceptance model,

Information and Management, Vol. 42, No. 5, 2005. 719-729.

[50] Swaminathan, V., White, E. L. and Rao, B. P., Browsers or buyers in

cyberspace? an investigation of factors influencing electronic

exchange, Journal of Computer-Mediated Communication, Vol.

5, No. 2, 1999, pp. 1-23.

[51] Miyazaki, A. D. and Fernandez, A., Consumer perceptions of privacy

and security risks for online shopping, The Journal of Consumer

Affairs, Vol. 35, No. 1, 2001, pp. 7-44.

[52] Verhagen, T., Meents, S. and Tan, Y. H., Perceived risk and trust

associated with purchasing at electronic marketplaces, European

Journal of Information Systems, Vol. 15, No. 6, 2006, pp.

542-555.

[53] Mayer, R. C., Davis, J. H. and Schoorman, F. D., An integrative

model of organizational trust, The Academy of Management

Review, Vol. 20, No. 3, 1995, pp. 709-734.

[54] Rousseau, D. M., Sitkin, S. B., Burt, R. S. and Camerer, C., Not so

different after all: a crossdiscipline view of trust, Academy of

Management Review, Vol. 23, No. 3, 1998, pp. 393-404.

[55] Keen, P. G. W., Are you ready for trust economy?, ComputerWorld,

Vol. 31, No. 16, 1997, pp. 80.

[56] Lee, M. K. O. and Turban, E., A trust model for consumer internet

shopping, International Journal of Electronic Commerce, Vol. 6,

No. 1, 2001, pp. 75-91.


67

67

[57]Tan, Y. H. and Thoen, W., Toward a Generic Model of Trust for

Electronic Commerce, International Journal of Electronic

Commerce, Vol. 5, No. 2, 2001, pp. 61-74.

[58] Gefen, D., Reflections on the dimensions of trust and trustworthiness

among online consumers, ACM SIGMIS Database,Vol. 33, No.

3, 2002, pp. 38-53.

[59] Ranganathan, C. and Ganapathy, S., Key dimensions of

business-to-consumer web sites, Information and Management,

Vol. 39, No. 6, 2002, pp. 457-465.

[60] Liao, Z. and Cheung, M. T. Internet-based e-banking and consumer

attitudes: an empirical study, Information and Management, Vol.

39, No. 4, 2002, pp. 283-295.

[61] Liu, C., Marchewka, J. T., Lu, J. and Yu, C. S., Beyond concern: a

privacy-trust-behavioral intention model of electronic commerce,


[62] Wang, H., Lee, M. K. O. and Wang, C., Consumer privacy concerns

about internet marketing, Communication of the ACM, Vol. 41,

No. 3, 1998, p. 63-70.

[63] Yang, Z., Cai, S., Zhou, Z. and Zhou, N., Development and validation

of an instrument to measure user perceived service quality of

information presenting web portals, Information and

Management, Vol. 42, No. 4, 2005, pp. 575-589.

[64] Phelps, J., Nowak, G. and Ferrell, E., Privacy concerns and consumer

willingness to provide personal information, Journal of Public

Policy and Marketing, Vol. 19, No. 1, 2000, pp. 27-41.

[65] Mukhopadhyay, S. K. and Setoputro, R., Optimal return policy and

modular design for build-to-order products, Journal of

Operations Management, Vol. 23, No. 5, 2005, pp. 496-506.

[66] Davis, S., Hagerty, M. and Gerstner, E., Return policies and the

optimal level of Hassle, Journal of Economics and Business, Vol.

50, No. 5, 1998, pp. 445-460.

68

68

[67] Simonson, I., The influence of anticipating regret and responsibility

on purchase decisions, Journal of Consumer Research, Vol. 19,

No. 1, 1992, pp. 105-118.

[68] Kahn, B., Moore W. L. and Glazer, R., Experiments in constrained

choice, Journal of Consumer Research, Vol. 14, No. 1, 1987, pp.

96-113.

[69] 2005

[70] Welling, L. A., Satisfaction guaranteed or money (partially) refunded

efficient refunds under asymmetric information, The Canadian

Journal of Economics, Vol. 22, No. 1, 1989, pp. 62-78.

[71] Padmanabhan, V. and Png, I. P. L., Manufacturers returns policies

and retail competition, Marketing Science, Vol. 16, No. 1, 1997,

pp. 81-95.

[72] Lee, K. S. and Tan, S. J., E-retailing versus physical retailing: A

theoretical model and empirical test of consumer choice, Journal

of Business Research, Vol. 56, No. 11, 2003, pp. 877-885.

[73] Teltzrow, M., Gunther, O. and Pohle, C., Analyzing consumer

behavior at retailers with hybrid distribution channels-A trust

perspective, Proceedings of the 5th international conference on

Electronic commerce, Pittsburgh, Pennsylvania, 2003.

[74] Ajzen, I., The theory of planned behavior, Organizational Behavior

and Human Decision Processes, Vol. 50, No. 2, 1991, pp.

179-211.

[75] Eastlick, M. A. and Lotz, S., Profiling potential adopters and

non-adopters of an interactive electronic shopping medium,

International journal of Retail and Distribution Management, Vol.

27, No. 6, 1999, pp. 209-223.

[76] Bettman, J. R. and Park, C. W., Effects of prior knowledge and

experience and phase of the choice process on consumer

decision processes: a protocol analysis, The Journal of Consumer

Research, Vol. 7, No. 3, 1980, pp. 234-248.

[77] Goldsmith R. E. and Goldsmith E. B., Buying apparel over the


69

69

internet, The Journal of Product and Brand Management, Vol. 11,

No. 2/3, 2002, pp. 89-100.

[78] Wold, H., A Second Generation of Multivariate Analysis, 1982, 1st ed.,

New York: Praeger.

[79] Anderson, J. C. and Gerbing, D. W., Structural equation modeling in

practice: a review and recommended two-step approach,

Psychological Bulletin, Vol. 103, No. 3, 1988, pp. 411-423.

[80] 2006 13 1 57-84

[81] Walczuch, R., Lemmink, J., and Streukens, S., The effect of service

employees' technology readiness on technology acceptance,


[82] Jomes, A. P. and James, L. R., Psychological climate: dimensions and

relationships of individual and aggregated work environment

perceptions, Organizational Behavior and Human Performance,

Vol. 23, No. 2, 1979, pp. 201-250.

[83] Hair et al., 1998

[84] Lin, C. S., Wu, S. and Tsai, R. J., Integrating perceived playfulness

into expectation-confirmation model for web portal context,


70

70

SE1

Vijayasarathy38

SE2

PR1

Vijayasarathy38

PR2

RET1

Cho 14

RET2

RET3

RISK1

Cheung and

Lee RISK2

RISK3

TRU1

Jarvenpaa,

Tractinsky and

Vitale26

TRU2

TRU3

TRU4

ATT1

Lee, Qu and

Kim.41

ATT2

ATT3

ATT4

INT1

Slyke,Belanger

and Comunale 24

INT2

INT3

Documents

The Effects of Consumers’ Risk Perception towards Online Purchasing Behaviors with Prior Experiences and Return Policy as Moderating …academic-journal.org/EC/jsystem/Issue/v8n1-2010/v8n1p2.pdf ·