that an individual behavioural intention is a combination of attitude and influence of subjective norm factors.
Although this theory is well regarded in explaining consumers’ actual behaviour, it was noted that it lacks the predictive power of the user’s intention as it foresees behaviour based on volitional control of individuals (Stewart & Jürjens 2018).
Stewart & Jürjens (2018)
Net Valance Theory
Net Valence theory was originated from the economics and psychology discipline developed by (Peter & Tarpey 1975), based on Lewin (1943) and Biley (1955) were pioneered to outline that customers perceive products in both desirable positive and negative ways. The theory aims to maximize the net valence which is the variable between the experience of positive and negative utility.
The theory uses a cognitive rationale to explain consumer decision-making, and it assumes that consumers will perceive products and services with both negative (e.g.
perceived risk) and positive (e.g. perceived benefit) attributes. Based on the theory, customers will make decisions based on maximizing perceived benefits and minimizing perceived negative (Peter & Tarpey 1975;
Kim et at. 2000).
Peter & Tarpey (1975)
Lewin (1943) Biley (1955)
Kim et al. (2000)
Although previous studies have supported the continued use of the valence framework in e-commerce and technology context, it has been suggested to be extended by combining dimensions from other consumer behaviour theories (Lu et al. 2011; Bilgihan & Bujisic 2015).
Lu et al. 2011
Bilgihan & Bujisic (2015)
Adaptation-level Theory
Helsen (1964) formulated Adaption- Level Theory that has been well regarded in consumer psychology research, as it received acceptance by various researchers due to the ability to explain initiative forecasts due to assimilation-contrast theories (Oliver 1977). This theory concerns the impact of consumer uncertainty and expectations on satisfaction and was used by Oliver (1997) when examining customer satisfaction.
According to the adaptation-level theory (Helson 1964), environmental and organismic acts force individual behavioural response. The theory explained as follows:
‘It posits that one perceives stimuli only in relation to an adopted standard. The standard is a function of perceptions of the stimulus itself, the context, and psychological and physiological characteristics of the organism. Once created, the ‘adaptation level’ serves to
Helsen (1964)
sustain subsequent evaluations in that positive and negative deviations will remain in the general vicinity of one's original position. Only a large impact on the adaptation level will change the final tone of the subject's evaluation’.
Helsen formed the basis of this theory which has been incorporated into several current theories, for example, Oliver (1977) used the Expectancy-Disconfirmation model to study customer satisfaction. Later, it has received wide acceptance in research.
Oliver (1977)
Expectancy Disconfirmation
Paradigm
Drawing on the deficiencies of the above theories of consumer satisfaction, Oliver (1977; 1980) proposed the Expectancy-Disconfirmation Paradigm (EDP) as the most encouraging theory structure for the appraisal of consumer satisfaction. The model suggests that consumers buy products and services with pre-purchase assumptions regarding the expected performance. The desire level at that point turns into a norm against which the item is judged. That is, when the item or service has been utilized, results are analyzed against desires. In the event that the result coordinates the desire, affirmation happens. Disconfirmation happens when there is a contrast between desires and results. A client is either
Oliver (1977) Oliver (1980)
satisfied or disappointed because of positive or negative contrasts among desires and discernments. In this manner, when the administration execution is better than what the client had at first expected, there is a positive disconfirmation among desires and execution which brings about fulfilment, while when administration execution is true to form, there is an affirmation among desires and observations which brings about fulfilment.
Conversely, when administration execution is not in the same class as what the client expected, there is a negative disconfirmation among desires and recognitions which causes disappointment.
Mattila and O’Neill (2003) stated that the EDP model is amongst the well-known satisfaction models, which argues that satisfaction is related to the magnitude and course of the disconfirmation experience that is created as a result of service experience performance against expectation.
Mattila & O’Neill (2003)
In light of consumer behaviour literature which was much more aligned with the review of customer satisfaction, and the consumer technology adoption literature was more oriented towards perceived benefits and risks of consumers adopting tech-services. Operationalization of antecedents of customer satisfaction with using technology in services is what matters in this study
especially after the service is experienced. Accordingly, this study applies the concept of Expectancy Disconfirmation Theory developed by (Oliver 1980). It was observed that this theory is one of the most used in customer satisfaction studies and determines consumer repurchase intention behaviour (Anderson, Fornell & Lehmann 1994). Oliver (1980) developed the theory and proposed that customer satisfaction and repeat behaviour are the difference between services provided and expected. Satisfaction (positive disconfirmation) is more oriented towards the message of complete satisfaction and the product or service exceeded expectations. On the contrary, dissatisfaction (negative disconfirmation) arises when a product or service is worse than the customer expected. Additionally, to study the antecedents of customer satisfaction with Fintech Expectancy Confirmation theory is considered to be extended by the net valance perspective to measure perceived benefits and risks of using technology in the service industry.
Accordingly, this study drew upon primary research streams, Expectation Confirmation Theory and net valance perspective (benefits and risks) to develop this study research model and associated hypothesis. The following section will provide a full description of the Expectation Confirmation Theory and valance theory (perceived risks, benefits and the proposed theoretical framework).