Factors affecting the technological innovation of banks toward accounting benefits in a developing country’s industrial revolution 4.0 context: evidence from Vietnam

Abstract

Purpose

This study aims to investigate the factors affecting technological innovation intentions at banks listed in Vietnam, a developing country, to develop business activities and accounting benefits according to the trend of the 4th Industrial Revolution.

Design/methodology/approach

To collect and analyze the data for this study, qualitative and quantitative methods were used. Specifically, 20 finance and banking experts and 45 managers in the field of information technology were interviewed in qualitative research over a period of three months. Then, 1,000 questionnaires were sent to banks within six months, with the final sample for quantitative research being 324 respondents. Finally, the structural equation modeling (SEM) was used to check the hypotheses. Regarding the tools used, the qualitative study used a semistructured questionnaire to collect information. Meanwhile, SPSS software was used to analyze quantitative research information, including checking common method bias, nonresponse bias, evaluating scale quality and checking SEM.

Findings

The findings show that the usefulness, ease of application, credibility, innovation and efficiency of technology have certain impacts on technological innovation intentions at banks listed in Vietnam. Using the SEM analysis, the results showed that the five factors had a favorable influence on the technological innovation intentions. More specifically, this study proposed adding an efficiency factor, and the results showed that it has the greatest impact on technological innovation intentions.

Research limitations/implications

This study would be considered a continuation of prior studies because it provides empirical evidence for business models at banks listed in developing countries (for example, Vietnam) and so provides useful advice for bank management not only in Vietnam but across Asia. In fact, bank managers should consider introducing new technology as appropriate to make their reports more clear and up-to-date, therefore improving their performance. Banking managers, in particular, should focus on enhancing the bank’s application technology indicators to obtain a competitive edge.

Originality/value

This is a pioneering study that uses a combination of the reasoned action theory, planned behavior theory, transaction cost theory and unified theory of acceptance and use of technology to expand knowledge about technological innovation intentions at listed banks in the context of a developing country. The study also discovered and added the efficiency factor as a key factor affecting the intention to innovate technology at listed banks. These contribute to improving the literature of technological innovation intentions.

Citation

Vu, T.Q. and Abu Afifa, M. (2024), "Factors affecting the technological innovation of banks toward accounting benefits in a developing country’s industrial revolution 4.0 context: evidence from Vietnam", Global Knowledge, Memory and Communication, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/GKMC-01-2024-0016