Trust, financial innovation, and SME performance: Evidence from the continued use of online accounting services in Vietnam

  • 24 Views
  • 5 Downloads

Creative Commons License DMCA.com Protection Status
This work is licensed under a Creative Commons Attribution 4.0 International License

Type of the article: Research Article

Abstract
Online accounting services have become a financial innovation for Vietnamese small and medium-sized enterprises (SMEs) confronting tightening compliance requirements and limited internal accounting capacity. This study examines how perceived benefits, service quality, perceived risk, and technological factors relate to trust and continued use of online accounting services, and whether continued use is associated with non-financial operational performance. We analyzed cross-sectional survey data collected in 2025 from 362 Vietnamese SMEs already using such services using partial least squares structural equation modeling. All constructs met reliability and convergent validity thresholds (Cronbach’s α = 0.762-0.866; AVE = 0.616-0.713), and all heterotrait-monotrait ratios remained below 0.90. Perceived benefits showed the strongest positive association with trust (β = 0.403), followed by service quality (β = 0.303) and technological factors (β = 0.141), while perceived risk was negatively associated (β = –0.232). Trust was positively associated with continued use (β = 0.185) and transmitted significant specific indirect effects for perceived benefits (β = 0.074), service quality (β = 0.056), perceived risk (β = –0.043), and technological factors (β = 0.026); variance accounted for ranged from 14.7% to 22.2%, indicating complementary partial rather than full mediation. Continued use was positively associated with non-financial operational performance (β = 0.745). The model explained 68.1% of the variance in continued use, 66.2% in trust, and 55.5% in performance (all p < 0.01). Trust therefore complements rather than replaces direct evaluation in sustaining SMEs’ use of these services, although the cross-sectional, single-source design precludes causal inference.

view full abstract hide full abstract
    • Figure 1. Research model
    • Table 1. Respondent profile by education level
    • Table 2. Respondent profile by position and years of work experience
    • Table 3. Firm-level characteristics and duration of online accounting service use
    • Table 4. Construct reliability and convergent validity
    • Table 5. Outer loadings
    • Table 6. Discriminant validity: Heterotrait-monotrait ratio (HTMT)
    • Table 7. Full collinearity variance inflation factors (Kock, 2015)
    • Table 8. Inner VIF values
    • Table 9. Coefficient of determination
    • Table 10. Effect size (f2) and predictive relevance (Q2)
    • Table 11. Structural model results and hypothesis assessment
    • Table 12. Mediation analysis: Specific indirect, direct, and total effects
    • Table 13. Continued use and operational performance, with and without control variables
    • Table A1. Measurement items and source scales
    • Conceptualization
      Duan Nguyen Dien, Hung Tran Ngoc
    • Data curation
      Duan Nguyen Dien, Hung Tran Ngoc
    • Formal Analysis
      Duan Nguyen Dien, Hung Tran Ngoc, Dinh Phung Tran
    • Funding acquisition
      Duan Nguyen Dien, Hung Tran Ngoc, Dinh Phung Tran
    • Investigation
      Duan Nguyen Dien, Hung Tran Ngoc
    • Methodology
      Duan Nguyen Dien, Hung Tran Ngoc
    • Project administration
      Duan Nguyen Dien, Hung Tran Ngoc, Dinh Phung Tran
    • Resources
      Duan Nguyen Dien, Hung Tran Ngoc, Dinh Phung Tran
    • Software
      Duan Nguyen Dien, Hung Tran Ngoc
    • Supervision
      Duan Nguyen Dien, Hung Tran Ngoc
    • Validation
      Duan Nguyen Dien, Hung Tran Ngoc
    • Visualization
      Duan Nguyen Dien, Hung Tran Ngoc, Dinh Phung Tran
    • Writing – original draft
      Duan Nguyen Dien, Hung Tran Ngoc, Dinh Phung Tran
    • Writing – review & editing
      Duan Nguyen Dien, Hung Tran Ngoc, Dinh Phung Tran
Related Articles

  • Short video marketing factors influencing the purchase intention of Generation Z in Vietnam

    Thi Thuy An NgoORCID , Phu QuachORCID , Thanh Vinh NguyenORCID , Anh Duy NguyenORCID , Thi Minh Nguyet NguyenORCID doi: http://dx.doi.org/10.21511/im.19(3).2023.04
    Innovative Marketing Volume 19, 2023         Issue #3         pp. 34-50 Views: 11419 Downloads: 3129 TO CITE АНОТАЦІЯ

    In the digital age and technological advancements, short video platforms have become essential tools for online sales and marketing. In addition, shopping through short video marketing has gained significant attention, especially among Generation Z, as it brings unique and novel shopping experiences. The primary goal of this study is to explore the factors of short video marketing that influence the purchase intentions of Generation Z consumers in Vietnam. To conduct this study, a quantitative approach was employed, utilizing a 5-point Likert scale questionnaire administered online through a non-probability sampling method. The sample comprised 350 respondents aged between 16 and 26 from Vietnam, representing Generation Z, who made purchases through short video marketing. The relationships among various variables were analyzed using Structural Equation Modeling (SEM). The study’s results demonstrated a positive, significant, and direct relationship between all factors of short video marketing, including interesting content, perceived usefulness, scenario-based experience, user interaction, perceived enjoyment, and involvement of celebrities and consumer brand attitude. Among these factors, perceived usefulness is the most influential factor on customer brand attitude. In addition, the study revealed that consumer brand attitude, acting as a mediating variable, had a positive and significant impact on consumers’ purchase intentions. Based on the findings, the study suggested strategies for businesses to enhance the quality and content on short video platforms, thereby improving the effectiveness of their marketing strategies.

    Acknowledgment
    The authors express a sincere gratitude to all the participants who generously took part in this research study.

  • The effects of social media live streaming commerce on Vietnamese Generation Z consumers’ purchase intention

    Thi Thuy An NgoORCID , Chi Thanh BuiORCID , Huynh Khanh Long ChauORCID , Nguyen Phuc Nguyen TranORCID doi: http://dx.doi.org/10.21511/im.19(4).2023.22
    Innovative Marketing Volume 19, 2023         Issue #4         pp. 269-283 Views: 9008 Downloads: 5080 TO CITE АНОТАЦІЯ

    Social media live streaming commerce is an emerging and effective online shopping channel that integrates live streaming and e-commerce through social media platforms. This trend has gained significant attention, particularly from Generation Z, who are drawn to the interactive and entertaining aspects of shopping through live streaming. This study investigates factors affecting the purchase intention of Vietnamese Generation Z consumers in live streaming commerce on social media platforms, assessing the impact of six factors: entertainment, information quality, interactivity, perceived risk, peer customer evaluations and recommendations, and streamers. Using a non-probability sampling, an online survey was conducted among 344 consumers who possess prior experience with social media live streaming commerce. Data analysis used a partial least squares structural equation modeling technique. The findings revealed that increased entertainment, higher information quality, enhanced interactivity, positive peer customer evaluations and recommendations, and a more attractive and expert streamer positively impact purchase intention. Notably, streamers exhibited the most robust influence, while information quality demonstrated the weakest effect among the influencing factors. Conversely, perceived risk did not significantly hinder purchase intention, suggesting Generation Z consumers’ confidence in online transactions and their willingness to take risks for entertainment and interactivity in live streaming commerce. In light of these results, businesses are advised to elevate consumer purchase intentions by prioritizing aspects related to entertainment, information quality, interactivity, and peer customer evaluations. Prudent selection of streamers is highlighted as a pivotal strategy for organizations to effectively shape customer purchasing intentions.

    Acknowledgment
    The researchers express sincere gratitude to all the participants who generously participated in this study.

  • An assessment of informal SMEs’ potential in an African economy – theoretical and conceptual framework

    Herrison Matsongoni , Emmanuel Mutambara doi: http://dx.doi.org/10.21511/pmf.07(2).2018.01
    Public and Municipal Finance Volume 7, 2018         Issue #2         pp. 1-13 Views: 6861 Downloads: 1310 TO CITE АНОТАЦІЯ

    Informal Small and Medium Enterprises (SMEs) play a key role in their respective economies over the world particularly in the African continent. This paper reviews various theories on SMEs towards understanding the potential of the informal sector in the context of African countries. The paper uses a theoretical approach for the purpose of assessing the challenges that have affected the development of the informal SMEs sector over the years in both the developing and developed world. Economically developing countries in Africa pose unique challenges to informal SMEs development compared to the developed countries. The paper reviews the theories that define the rise to informality in Africa by identifying the key determinants for the emergence of informal SMEs. A conceptual framework for assessing informal SME’s potential for Africa is developed. The conceptual framework is based on the Fishbone diagram developed by Kaoru Ishikawa (1986). This paper discusses the intricacies of the applicability of the proposed conceptual framework to assess the potential of the informal SMEs in Africa and the way forward for the formalization debate.

Download Preview
Close
Investment Management and Financial Innovations
Investment Management and Financial Innovations