Financial risk and its impact on new purchasing behavior in the online retail setting

Electronic Markets

Volumn 19, Issue 4, 2009, Pages 237-250

  Keating, Byron W ^a   Quazi, Ali M ^b   Kriz, Anton ^c  

^a UNIVERSITY OF WOLLONGONG   (Australia)

^b UNIVERSITY OF CANBERRA   (Australia)

^c UNIVERSITY OF NEWCASTLE   (Australia)

Author keywords

Financial risk; Online retail; Relationship marketing quality; Service quality

Indexed keywords

EID: 77951838481     PISSN: 10196781     EISSN: 14228890     Source Type: Journal    
DOI: 10.1007/s12525-009-0021-3     Document Type: Article

References (85)

1. Bagozzi, R., Youjae, Y., & Phillips, L. (1991). Assessing construct validity in organizational research. Administrative Science Quarterly, 36(3), 421-458
2. Barsky, R., Juster, F., Kimball, M., & Shapiro, M. (1997). Preference parameters and behavioral heterogeneity: an experimental approach in the health and retirement study. Quarterly Journal of Economics, 112, 537-579. (Pubitemid 127344013)
3. Bart, Y., Shankar, V., Sultan, F., & Urban, G. (2005). Are the drivers and role of online trust the same for all Web sites and consumers? A large-scale exploratory empirical study Journal of Marketing, 69 (4), 133-152.
4. Bauer, R. (1960). Consumer behavior as risk taking. In R. Hancock (Ed.), Dynamic marketing for a changing world: Proceedings of 43rd Conference (pp. 389-398). Chicago: American Marketing Association.
5. Bernheim, B., Skinner, J., & Weinberg, S. (2001). What accounts for the variation in retirement wealth among U.S. households? American Economic Review, 91, 832-857. (Pubitemid 33596433)
6. Bettman, J. (1973). Perceived risk and its components: a model and empirical test. Journal of Marketing Research, 10, 184-189.
7. Bonomam, J., & Johnston, W. (1979). Decision making under uncertainty: a direct measurement approach. Journal of Consumer Research, 6,177-191.
8. Brynjolfsson, E., & Kahin, B. (2000). Understanding the digital economy. Cambridge: MIT.
9. Cao, Y., & Gruca, T. (2004). The influence of pre and post-purchase service on prices in the online book market. Journal of Interactive Marketing, 18(4), 51-62. (Pubitemid 39443359)
10. Cases, A. (2002). Perceived risk and risk-reduction strategies in Internet shopping. The International Review of Retail, Distribution and Consumer Research, 12(4), 375-394.
11. Chaudhuri, A. (1997). Consumption emotion and perceived risk: a macro-analytic approach. Journal of Business Research, 39,81-92. (Pubitemid 127337860)
12. Chen, Z., & Dubinsky, A. (2003). A conceptual model of perceived customer value in e-commerce: a preliminary investigation. Psychology and Marketing, 20(4), 323-347. (Pubitemid 38613738)
13. Churchill, G. (1979). A paradigm for developing better measures of marketing constructs. Journal of Marketing Research, 26,64-73.
14. Coltman, T., Devinney, T., Latukefu, A., & Midgley, D. (2001). Ebusiness: revolution, evolution or hype? California Management Review, 44(1), 57-85.
15. Cook, T., & Shadish, W. (1994). Social experiments: some developments over the past 15 years. Annual Review of Psychology, 45,545-580. (Pubitemid 24976732)
16. Cox, D., & Rich, S. (1964). Perceived risk and consumer decisionmaking: the case of telephone shopping. Journal of Marketing Research, 1(4), 32-39.
17. Crosby, L., Evans, K., & Cowles, D. (1990). Relationship quality in services selling: an interpersonal influence perspective. Journal of Marketing, 54(3), 68-81.
18. Cunningham, L., Gerlach, J., Harper, M., & Young, C. (2005). Perceived risk and the consumer buying process: Internet airline reservations. International Journal of Service Industry Management, 16(4), 357-372. (Pubitemid 41112453)
19. Cunningham, S. (1967). Perceived risk and brand loyalty. In D. F. Cox (Ed.), Risk-taking and information handling in consumer behavior (pp. 507-523). Boston: Boston University.
20. Dabholkar, P., Thorpe, D., & Rentz, J. (1996). A measure of service quality for retail stores. Journal of the Academy of Marketing Science, 24, 3-16.
21. Dabholkar, P., Shepherd, C., & Thorpe, D. (2000). A comprehensive framework for service quality: an investigation of critical conceptual and measurement issues through a longitudinal study. Journal of Retailing, 76(2), 139-173.
22. Degeratu, A., Rangaswamy, A., & Wu, J. (2000). Consumer choice behavior in online and traditional supermarkets: the effects of brand name, price, and other search attributes. International Journal of Research in Marketing, 17(1), 55-78.
23. Dillon, T., & Reif, H. (2004). Factors influencing consumers' e-commerce commodity purchases. Information Technology, Learning, and Performance Journal, 22(2), 1-12.
24. Doolin, B., Dillon, S., Thompson, F., & Corner, J. (2005). Perceived risk, the Internet shopping experience and online purchasing behaviour: a New Zealand perspective. Journal of Global Information Management, 13(2), 66-89. (Pubitemid 40415560)
25. Donthu, N., & Garcia, A. (1999). The Internet shopper. Journal of Advertising Research, 39(3), 52-58.
26. Dowling, G., & Staelin, R. (1994). A model of perceived risk and intended risk-handling activity. Journal of Consumer Research, 21(1), 119-134. (Pubitemid 24794624)
27. Dutta, S., & Segev, A. (1999). Business transformation on the Internet. European Management Journal, 17(5), 466-476.
28. eMarketer. (2007). US online overview. Retrieved September 4, 2008, from http://www.emarketer.com/Report.aspx?code=emarketer-2000466.
29. Forrester Research. (2008). Online sales climb despite struggling economy. Retrieved September 4, 2008, from http://www.shop.org/c/journal- articles/view-article-content?groupId=1&articleId=702&version=1.0.
30. Forsythe, S., & Shi, B. (2003). Consumer patronage and risk perceptions in Internet shopping. Journal of Business Research, 56(11), 867-875. (Pubitemid 36913805)
31. Grable, J. (2000). Financial risk tolerance and additional factors that affect risk taking in everyday money matters. Journal of Business and Psychology, 14(4), 625-630.
32. Grabner-Kräuter, S., & Kaluscha, E. (2003). Empirical research in online trust: a review and critical assessment. International Journal of Human-Computer Studies, 58(6), 783-812.
33. Greatorex, M. & Mitchell, V. (1993). Developing the perceived risk concept: Emerging issues in marketing. In M. Davies et al. (Eds.), Proceedings of the Marketing Education Group Conference, Lough-borough, 405-415.
34. Grönroos, C. (1984). A service quality model and its marketing implications. European Journal of Marketing, 18(4), 36-44.
35. Gummesson, E. (1994). Making relationship-marketing operational. Journal ofService Industry Management, 5(5), 5-20.
36. Guseman, D. (1981). Risk perception and risk reduction in consumer services. In J. H. Donnelly & W. R. George (Eds.), Marketing of services (pp. 200-204). Chicago: American Marketing Association.
37. Ha, H. (2002). The effects of consumer risk perception on prepurchase information in online auctions: Brand, word-of-mouth, and customized information. Journal of Computer-Mediated Communication, 8(1). [http://www3.interscience.wiley.com/cgi-bin/fulltext/120837861/HTMLSTART from 23 June, 2006] (Pubitemid 38847228)
38. Hair, J. (2006). Multivariate data analysis (6th ed.). Upper Saddle River: Pearson Prentice Hall.
39. Haliassos, M., & Bertaut, C. (1995). Why do so few hold stocks? Economic Journal, 105, 1110-1129.
40. Harrison, G., Johnson, E., McInnes, M., & Rutstrom, E. (2005). Risk aversion and incentive effects: comment. American Economic Review, 95, 897-901. (Pubitemid 43104422)
41. Hauser, J., & Urban, G. (1979). Assessment of attribute importances and consumer utility functions: Von Neumann-Morgenstern theory applied to consumer behavior. Journal of Consumer Research, 5(4), 251-262.
42. Heijden, H., Verhagen, T., & Creemers, M. (2003). Understanding online purchase intentions: contributions from technology and trust perspectives. European Journal of Information Systems, 12 (1), 41-48. (Pubitemid 36420429)
43. Hoffman, D., Novak, T., & Venkatesh, A. (2004). Has the Internet become indispensible? Communications of the ACM, 47(7), 37-42.
44. Holt, C., & Laury, S. (2002). Risk aversion and incentive effects. American Economic Review, 92(5), 1644-1655.
45. Holt, C., & Laury, S. (2005). Risk aversion and incentive effects: new data without order effects. American Economic Review, 95, 902-904. (Pubitemid 43104423)
46. Jacoby, J. & Kaplan, L. (1972). The components of perceived risk. Paper presented at the Third Annual Conference of the Association for Consumer Research, Association for Consumer Research, College Park, MD, USA.
47. Jarvenpaa, S., Tractinsky, N., & Vitale, M. (2000). Consumer trust in an Internet store. Information Technology & Management, 1(1), 45-71.
48. Keating, B., Rugimbana, R., & Quazi, A. (2003). Differentiating between service quality and relationship quality in cyberspace. Managing Service Quality, 13(3), 217-232
49. Kiang, M. & Chi, R. (2001). E-commerce and small business - Finding the right products to sell on the Internet. Small Business Advancement National Centre Newsletter, Retrieved September 18, 2001, from http://www.sbaer.uca.edu/ newsletter/2001/091801.htm
50. Kim, S., & Montalto, C. (2002). Perceived risk of privacy invasion and the use of online technology by consumers. Consumer Interests Annual, 48, 1.
51. Kogen, N., & Wallack, M. (1964). Risk taking: A study in cognition and personality. New York: Holt, Rinehart and Winston.
52. Laurent, G., & Kapferer, J. (1985). Measuring consumer involvement profiles. Journal of Marketing Research, 22(1), 41-53.
53. Lee-Kelley, L., Gilbert, D., & Mannicom, R. (2003). How e-CRM can enhance customer loyalty. Marketing Intelligence & Planning, 21 (4), 239-248.
54. Liebermann, Y., & Stashevsky, S. (2002). Perceived risk as barriers to Internet and ecommerce usage. Qualitative Market Research, 5(4), 291.
55. MacCrimmon, K., & Wehrung, D. (1986). Taking risks: The management of uncertainty. New York: Free.
56. Martin, B., & Marshall, R. (1999). The interaction of message framing and felt involvement in the context of cell phone commercials. European Journal of Marketing, 33(1/2), 206-218.
57. McKnight, D., Chaudhury, V., & Kacmar, C. (2002). The impact of initial consumer trust on intentions to transact with a web site: a trust building model. Journal of Strategic Information Systems, 11(3/4), 297-323.
58. Mitchell, V. (1999). Consumer perceived risk: conceptualisations and models. European Journal of Marketing, 33(1/2), 163-195.
59. Miyazaki, A., & Fernandez, A. (2000). Internet privacy and security: An examination of online retailer disclosures. Journal of Public Policy & Marketing, 19, 54-61.
60. Miyazaki, A., & Fernandez, A. (2001). Consumer perceptions of privacy and security risks for online shopping. The Journal of Consumer Affairs, 35(1), 27-44.
61. Morgan, R., & Hunt, S. (1994). The commitment-trust theory of relationship marketing. Journal of Marketing, 58(3), 20-38.
62. Murray, K., & Schlater, J. (1990). The impact of services versus goods on consumers' assessment of perceived risk. Journal of the Academy of Marketing Science, 18(1), 51-65.
63. Murray, K. (1991). A test of service marketing theory: consumer information acquisition activities. Journal of Marketing, 55,10-25.
64. Nunnally, J. (1967). Psychometrics. New York: McGraw-Hill.
65. Palant, J. (2001). SPSS survival manual: A step by step guide to data analysis using SPSS. Sydney: Allen & Unwin.
66. Palsson, A. (1996). Does the degree of relative risk aversion vary with household characteristics? Journal of Economic Psychology, 17, 771-787.
67. Parasuraman, A., & Zinkhan, G. (2002). Marketing to and serving customers through the Internet: an overview and research agenda. Journal of the Academy of Marketing Science, 30(4), 286-295.
68. Parasuraman, A., Zeithaml, V., & Berry, L. (1985). A conceptual model of service quality and its implications for future research. Journal of Marketing, 49(4), 41-50.
69. Pires, G., Stanton, J., & Eckford, A. (2004). Influences on the perceived risk of purchasing online. Journal of Consumer Behaviour, 4(2), 118-131.
70. Pollatsck, A., & Tversky, A. (1970). A theory of risk. Journal of Mathematical Psychology, 7, 540-553.
71. Porter, M. (2001). Strategy and the Internet. Harvard Business Review, 79(3), 62-79.
72. Rapoport, A., & Wallsten, T. (1972). Individual decision behavior. Annual Review of Psychology, 23, 131-176.
73. Reichheld, F., & Schefter, P. (2000). E-loyalty: Your secret weapon on the web. Boston: Harvard Business School.
74. Roselius, T. (1971). Consumer ranking of risk reduction methods. Journal of Marketing, 35(1), 56-61.
75. Roszkowski, M., Snelbecker, G., & Leimberg, S. (1993). Risk tolerance and risk aversion. In S. Leimberg, M. Satinsky & R. Leclair (Eds.), The tools and techniques of financial planning. Cincinnati: National Underwriter.
76. Sha, W. (2009). Types of structural assurance and their relationships with trusting intentions in business-to-consumer e-commerce. Electronic Markets, 19(1), 43-54.
77. Shadish, W., Cook, T., & Campbell, D. (2002). Experimental and quazi-experimental designs for generalized causal inference. Boston: Houghton Mifflin.
78. Stone, R., & Gronhaug, K. (1993). Perceived risk: further considerations for the marketing. European Journal of Marketing, 27(3), 39.
79. Tabachnick, B., & Fidell, L. (1996). Using multivariate statistics (3rd ed.). New York: HarperCollins.
80. Tan, S. (1999). Strategies for reducing consumer's risk aversion in Internet shopping. Journal of Consumer Marketing, 16(2), 163-180.
81. Ueltschy, L., Krampf, R., & Yannopoulos, P. (2004). A cross-national study of perceived consumer risk towards online (Internet) purchasing. Multinational Business Review, 12(2), 59-83.
82. Van Dyke, T., Midha, V., & Nemati, H. (2007). The effect of consumer privacy empowerment on trust and privacy concerns in e-commerce. Electronic Markets, 17(1), 68-81.
83. Vijayasarathy, L., & Jones, J. (2000). Print and Internet catalogue shopping: assessing attitudes and intentions. Internet Research, 10(3), 191-202.
84. Zeithaml, V., & Bitner, M. (2003). Services marketing: Integrating customer focus across the firm (3rd ed.). New York: McGraw-Hill.
85. Zikmund, W., & Scott, J. (1977). An investigation of the role of products characteristics in risk perceptions. Review of Business and Economics Research, 13, 19-33.