Gender differences among elderly in the use of internet banking services

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Winston The International Journal of Management Science and Information Technology (IJMSIT) NAISIT Publishers Special Issue: 2014 Spanish-Portuguese Scientific Management Conference Table of Contents 1 EDITORIAL MARTA PERIS-ORTIZ , Universitat Politècnica de València, Spain CARLOS RUEDA-ARMENGOT, Universitat Politècnica de València, Spain 5 EVALUATION OF QUALITY IN DIFFERENT ELECTRONIC SERVICES: RAMóN BARRERA-BARRERA , University of Seville, Spain ANTONIO NAVARRO-GARCíA , University of Seville, Spain MARTA PERIS-ORTIZ, Universitat Politécnica de València, Spain 28 NOVICE AND EXPERT INTERNET USERS: INFLUENCE OF PRICE DISCOUNTS ON ATTITUDE TOWARD THE BANNER AND WEBSITE ESMERALDA CRESPO-ALMENDROS , Universidad de Granada, Spain SALVADOR DEL BARRIO-GARCíA , Universidad de Granada, Spain 45 GENDER DIFFERENCES AMONG ELDERLY IN THE USE OF INTERNET BANKING SERVICES ANGEL FCO. VILLAREJO-RAMOS , University of Seville, Spain BEGOñA PERAL-PERAL , University of Seville, Spain JORGE ARENAS-GAITáN , University of Seville, Spain MARIA ANGELES RAMóN-JERóNIMO , Pablo de Olavide University , Spain 53 INTEGRATED SYSTEMS IN A BRAZILIAN UNIVERSITY: COOPERATIVE INFORMATION AS STRATEGIC RESOURCE MáRCIA JOSIENNE MONTEIRO CHACON, Federal University of Rio Grande of the Norte, Brasil DANIEL CARRASCO DIAZ, University of Malaga, Spain DANIEL DAVID SANCHEZ TOLEDANO, University of Malaga, Spain 66 THE ROLE OF COMPETITIVE ADVANTAGE IN STRATEGIC DETERMINANTS OF EXPORT PERFORMANCE: THEORETICAL FRAMEWORK ORLANDO LIMA RUA, Polytechnic of Porto , Portugal ALEXANDRA SILVA FRANÇA, Polytechnic Institutes of Northern Portugal , Portugal 94 CREATIVE ECONOMY: MENTAL MODELS OF CULTURAL ENTREPRENEURS IN BELO HORIZONTE, BRAZIL ANNA GABRIELA MIRANDA DE OLIVEIRA, Faculdade Novos Horizontes , Brasil MARLENE CATARINA DE OLIVEIRA LOPES MELO, Faculdade Novos Horizontes , Brasil 114 DETERMINANTS OF CAPITAL STRUCTURE OF THE INFORMATION TECHNOLOGY INDUSTRY NUNO MIGUEL DELICADO TEIXEIRA, Polytechnic Institute of Setubal, Portugal JOãO FILIPE MELO PARREIRA, Polytechnic Institute of Setubal, Portugal 133 ANALYSIS OF STUDIES ON TIME-DRIVEN ACTIVITY BASED COSTING (TDABC) ALEX SANTANA, University of Minho, Portugal PAULO AFONSO, Scholarship from CAPES , Portugal This is one paper of The International Journal of Management Science and Information Technology (IJMSIT) Special Issue: 2014 Spanish-Portuguese Scientific Management Conference The International Journal of Management Science and Information Technology (IJMSIT) Special Issue: 2014 Spanish-Portuguese Scientific Management Conference (45 - 52) 45 ISSN 1923-0265 (Print) - ISSN 1923-0273 (Online) - ISSN 1923-0281 (CD-ROM), Copyright NAISIT Publishers 2015 GENDER DIFFERENCES AMONG ELDERLY IN THE USE OF INTERNET BANKING SERVICES Angel Fco. Villarejo-Ramos ([email protected]) Begoña Peral-Peral ([email protected]) Jorge Arenas-Gaitán ([email protected]) Department Business Management and Marketing. University of Seville Maria Angeles Ramón-Jerónimo ([email protected] ). Department Business Administration and Marketing. Pablo de Olavide University ABSTRACT The Internet banking has changed the type of relationship between clients and banks. Today it is possible to manage accounts and all of the services online having the opportunity to compare different providers quickly and easily. The future of the Internet bank is in the type of services offered and in the way they interact with clients satisfying their needs. In this work, through a sample of 415 individuals older than 55 years, we analyse the gender gap in the use of Internet Baking and preferences for personal contact as key variables in the explanation of the frequency of use of ten services regularly offered by the Internet banking. Results show the existence of a gender gap in the frequency of use, although the level of autonomy in the preference for personal contact dilutes gender differences for some services. KEYWORDS: Elderly, Internet banking, gender gap, personal contact. 1. INTRODUCTION Internet banking is one of the most successful business-to-consumer applications in electronic commerce (Al-Jabri & Sohail, 2012). Internet banking (IB) is a channel that allows consumers to perform a wide range of financial and non-financial services through a bank's website (Hoehle, Scornavacca & Huff, 2012). IB has emerged as one of the most profitable e-commerce applications along the last decade (Lee, 2009; Yuen et al. 2010). Moreover, IB customers are the most interesting for banks (Pikarainen et al., 2004), showing an increased satisfaction, more positive word-of-mouth communications and the lowest intention to change to other financial institutions (Mols, 1999). However, although the growth from 2008 to 2012 is noticeable (31% for Europe and 60% for Spain) no everyone uses IB: a 38% of the population aged from 16 to 74 years in Europe and only a 32% in Spain. But age is not the single socio demographic variable explaining differences in UE countries; it is also possible to capture these differences in the use of IB across genders (Eurostat, 2013) (Figure 1). Figure 1. Percentages of IB users in UE (27) and in Spain by gender (2005-2012). The International Journal of Management Science and Information Technology (IJMSIT) Special Issue: 2014 Spanish-Portuguese Scientific Management Conference (45 - 52) 46 ISSN 1923-0265 (Print) - ISSN 1923-0273 (Online) - ISSN 1923-0281 (CD-ROM), Copyright NAISIT Publishers 2015 0 5 10 15 20 25 30 35 40 45 2005200620072008200920102011 EU (27) Males Spain Males EU (27) Females Spain Females Several studies have documented the attractiveness in the financial status of the grey market. Managing the grey market is one of the hot topics in electronic banking today. Retirement can decrease household income, however, the income per member of the household does not decrease that much since the children has usually already moved away. Thus, mature consumers have significant purchasing power but also a need for carefully managing their assets along their lifespan, making the 55-plus segment extremely lucrative for the financial service providers. Mature consumers are becoming familiar with technology such as computers, Internet and mobile phones. Marketers too often stereotype older consumers and ignore them in their marketing actions (Laukkanen et al. 2007). Elders present a high heterogeneity (Mattila, Karjaluoto & Pento, 2003; Mumel & Prodnik, 2005) in their purchase behaviour making necessary to design strategies capturing this heterogeneity to correctly drive marketing actions to the grey market. For these reasons, this work tries to analyse if gender and preferences for personal contact with banks’ staff influences IB use. Finding out these differences would allow banks to identify prone clients to use IB and adapt their strategies through the personalization of the service. 2. INTERNET BANKING USE Some authors (Durkin, 2004; Lassar, Manolis & Lassar, 2005; Martínez-Guerrero, Ortega-Egea & Román-González, 2005) show demographic variables affecting IB use, although most of the findings point to variables such as gender, age, income, level of education, occupation or family size affecting IB use (Ding, Verma & Iqbal, 2007; Howcroft, Hamilton & Hewer, 2002; Mattila et al., 2003). Other factors could be helpful detecting existing segments regarding IB use: geographical and psychological criteria (Gounaris & Koritos, 2008; Kaynak & Harcar, 2005), attitudes, expected benefits (Machauer & Morgner, 2001) or the perception of the security and privacy risks (Chen, Gillenson & Sherrell, 2002; Howcroft et al., 2002). In addition, the property of financial products and perceptions and attitudes towards received services and Internet as a financial distribution channel (Martínez-Guerrero et al., 2005), banking transactions conducted by clients (Zuccaro & Savard, 2010) or the number of banks used by customer, acquired bank products and the frequency of use (Dimitriadis, Kouremenos & Kyrezis, 2011) are criteria that have been also analysed to explain IB use. Regarding elderly and technology and although they are not a homogeneous segment to banking market, a stereotyped profile of older persons has been used Mattila et al., 2003). For this reason, our work aims to analyse the use of IB services in the elderly segment, analysing gender and the preference for personal contact in banking. Firstly, concerning gender and Internet use, it has been suggested that technology adoption differs between males and females. Men tend to be more task-orientated (Minton & Schneider, 1980), systemsorientated (Baron-Cohen, 2004) and more willing to take risks than women (Powell & Ansic, 1997). Men’s decisions to use a computer system could be considered more influenced by the perceived usefulness while women’s decisions would be influenced by the ease of use of the system (Venkatesh & Morris,