Cash or Card: Consumer Perceptions of Payment Modes - Scholarly ...

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Table 6.11: Confirmatory Factor Analysis: Pretest Two Payment Mode ÷² df ÷²/df RMSEA NFI CFI GFI AGFI SRMR Null 2856 528 5.409 0.31 .000 .000 .434 .399 .294 7 factor Cash 748 461 1.62 .049 .740 .877 .853 .821 .047 Null 732 55 13.327 0.218 .000 .000 0.583 0.500 .400 3 Factor D/Card 49.93 41 1.217 .0290 .931 .9868 .966 .945 .038 Null 774 66 11.736 .204 .000 .000 .584 .508 .333 4 Factor 68.60 48 1.4290 .0407 .911 .970 .958 .931 .04 Fornell and Larcker (1981) present a method for assessing the convergent validity of two or more factors. Here, a researcher compares the AVE of each construct with the shared variance between constructs. If the AVE for each construct is greater than its shared variance with any other construct, convergent validity is supported. This procedure is adopted in this study to show convergent validity. Discriminant validity was achieved via conducting a paired construct test (Jorsekog, 1971), and applying Fornell and Larcker (1981) technique. Another way to test whether the factors discriminate from each other is to determine whether the manifest indicators in CFA are best represented by three, two, or one latent construct. ECVI and AIC indexes in CFA result was compared to assess discriminant validity. The lower the values of ECVI and AIC (taking into account chi-square and other fit indexes) for the test model shows evidence of discriminant validity. For this research, given resource constraints and sample size, the discriminant validity is demonstrated via Fornell and Larcker’s (1981) partial least square (PLS) procedure, Bagozzi and Heatherton (1994) correlations method and CFA fit index (AIC and ECVA). PLS was chosen as the most appropriate statistical technique for assessing construct validity for two reasons: PLS is particularly well suited to small sample size, such as, sample size
used to measure individual constructs. For each of the item, the closer the statistics to one is better, and a modest threshold is 0.70 and least is .50 (See Table 6.11). 108 Table 6.12: Demonstrating Convergent Validity in Pretest-Two Composite Reliability Cronbach Alpha Average Variance Extracted Positive Emotions 0.80 0.87 0.75 Spending Control 0.50 0.62 0.52 Liquidity 0.70 0.79 0.65 Negative Emotions 0.64 0.69 0.70 Usage/behaviour 0.60 0.60 0.65 Status/Pleasure 0.65 0.60 0.66 Gift 0.61 0.63 0.73 Convergent validity is supported on composite reliability measure for PMP Scale though the “Spending Control’ dimension is slightly weak. The ‘Spending Control’ dimension captures the notion of mental accounting, a view well supported in behavioural economics literature. Another reason for retaining the spending control construct relates to the sample characteristics. These are young business students, highly familiar with card use per se. This construct needs further exploration on diverse samples as Churchill (1979) recommends re- examination of constructs for reliability and validity measures using independent and more diverse data set. Fornell and Larcker (1981) suggest using average variance extracted to assess convergent validity. The average variance extracted (AVE) statistics clearly exceeded 0.50 for all dimensions; the highest being for “Positive Emotions” construct and lowest was on “Spending Control’. A threshold of greater than 0.50 is recommended (Chin, 1998; Fornell and Larcker, 1981). That is, 50% or more variance should account for each construct. This indicates acceptable convergent validity for the constructs (physicality, control, disposable, attribute and modernity). The discriminant validity of the scale was investigated via two procedures. First, by ensuring that the correlation between constructs is less than 1 (Bagozzi and Heatherton, 1994). This is done by examining the confidence interval surrounding the estimate. If the correlation plus or minus two standard errors produces the value of 1, discriminant validity is not supported (Sweeney and Soutar, 2001, p.210). The correlations between constructs were estimated, the
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Cash or Card: Consumer Perceptions
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Chapter Four: Research Design and M
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List of Figures Figure 6.1 Sree Plo
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List of Tables Table 6.1. Explorato
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Acknowledgement The research idea i
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Abstract This study examines the co
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the payment mode selected impacts o
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Identifying the exact origin of anc
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1.5: Study Locus and Context The av
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compare participants normal or pref
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Chapter 2 provides a critical revie
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2.2: The Emergence of the Money Con
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commodity (bullion) and issued the
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2.5: Payment Mode and Purchase Beha
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and Belmont (1996) found that resta
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Households’ Spending’ run by th
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students (n=37) were also asked to
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enefit of consumption and the assoc
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associated with the purchase of ple
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A number of explanations for how pa
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2.6.5: Summary As this review of th
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Questions one and two are based on
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and label" events and occurrences,
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Thaler (1998) asserts that mental a
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If this is so then it is the transp
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The Chapter contends that the payme
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In this chapter, the methodology fo
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solid data, the issue of generalisa
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the experience. To do this requires
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as participants managed to link the
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4.4.2: Participant Selection There
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were initially examined via a test-
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set, in addition to the payment mod
Page 67 and 68: There are two major validity threat
Page 69 and 70: The Chapter commences by describing
Page 71 and 72: of all three projective tests. A fu
Page 73 and 74: However the negative thoughts diffe
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Page 77 and 78: thought the shoe (that was linked t
Page 79 and 80: Exhibit 5.6: Summary of findings $2
Page 81 and 82: denominations ($5, $10). On the oth
Page 83 and 84: Emotions (see Exhibit 5.7g) The mos
Page 85 and 86: � It is just when I can hear coin
Page 87 and 88: � I don’t feel that when I see
Page 89 and 90: Exhibit 5.7 (c) LIQUIDITY � if I
Page 91 and 92: Exhibit 5.8. Quotes for PMP Scale.
Page 93 and 94: 82 Using cash to pay for purchases
Page 95 and 96: 84 Using a debit card to pay for tr
Page 97 and 98: ` 86 If I had a $20 note in my wall
Page 99 and 100: 88 Chapter Six Development and Vali
Page 101 and 102: latent variable determines the obse
Page 103 and 104: oot (sqrt) was applied to normalize
Page 105 and 106: Exploratory Factor Analysis reveale
Page 107 and 108: 96 Table 6.2: Inter-Item and Item-t
Page 109 and 110: 98 Exhibit 6.5: 49 Item Scale in Pr
Page 111 and 112: 6.4.2: Pre-Test Two - Internal Cons
Page 113 and 114: The 45 items were examined to facto
Page 115 and 116: 6.4.4: Pre Test Two - Final Factor
Page 117: 6.4.6: Assessing Construct Validity
Page 121 and 122: 110 Exhibit 6.9: Pre-Test Items Rem
Page 123 and 124: Table 6.14: Summary of Final Result
Page 125 and 126: All dimensions (Table 6.16) show AV
Page 127 and 128: 7.1: Chapter Overview 116 Chapter S
Page 129 and 130: Four product categories of househol
Page 131 and 132: Since the use of cash and debit car
Page 133 and 134: 7.4.1.2: Control Group-Test Groups
Page 135 and 136: 7.4.2: Proposition Two Evaluation T
Page 137 and 138: 126 Table 7.8: Indulgence Food Prod
Page 139 and 140: 128 Exhibit 7.2: Proposition Two: E
Page 141 and 142: 130 Table 7.12: Comparisons of Fact
Page 143 and 144: Proposition Two that- where consume
Page 145 and 146: Table 7.13: Mean Item Score: Field
Page 147 and 148: Research Question One: Do the cogni
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Page 151 and 152: would spend it on something special
Page 153 and 154: 8.4: Methodological Contribution Th
Page 155 and 156: 144 � The priming regarding the s
Page 157 and 158: it may be prudent for governments,
Page 159 and 160: Bechara, A., & Damasio, A. (2005).
Page 161 and 162: Carruthers, B., & Babb, S. (1996).
Page 163 and 164: Dohrenwend, B. P., Itzhak Levav, P.
Page 165 and 166: Garcia-Swartz, D., Hahn, W. R., & L
Page 167 and 168: Hair, J. F., Black, W. C., Babin, B
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Kassarjian, H. H. (1977). Content a
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Loix, E. Pepermans, R. Van Hove, L.
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Nielsen Research (2011, August) Nie
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Reimann & Bechara (2009) The somati
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Singh (2004) Impersonalisation of e
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Trent, J. & Smalley, G. (1992) The
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Zelizer, V. (1994). The social mean
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its usage. This in turn points out
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Adam Smith proposed that money is s
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During the 1950s, researchers began
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use of borrowed money. The introduc
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Appendix 2: Projective Tasks- Workb
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TASK THREE For this activity you wi
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TASK SIX Shopping experience using
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Activity Two Tick five traits/chara
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Appendix 3: Moderator Guide When pa
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important. Individual opinions and
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192 Write few sentences describing
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Appendix 5: Projective Tests- Theme
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Appendix 7: Projective Tool (Debit
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