PERCEIVED RISK AND E-COMMERCE ADOPTION: EVIDENCE FROM SOUTHWEST NIGERIA
Taiwo, Akeem A.1*, Kuye Owolabi, L.2, Ogunnaike O. Olaleke1, Adeniji Anthonia Adenike1 and Salau Odunayo P.1
1Department of Business Management, Covenant University, Ota, Ogun State, Nigeria
2Department of Business Administration, Faculty of Management Sciences, University of Lagos, Lagos State, Nigeria
*Corresponding Author: email@example.com
Electronic-Commerce has been acclaimed as being one of the major application areas in the modern settings of organized business systems; by virtue of its significant growth in recent years. However, one of the major and prolonged concerns that restrict its adoption by customers and organizations is the risk involved. The study explored the resultant impact of Perceived Risk on e-commerce adoption by customers in South West Nigeria. The study adopted a descriptive method and collected relevant data to aid the research using structured questionnaire and also reviewing important literatures in the subject area. The study sample was drawn from the database of call to pick-up customers of four top e-commerce organizations in Southwest Nigeria using purposive, stratified and accidental sampling techniques. Six hundred and sixty-six copies of questionnaires were administered, 621 were retrieved while 610 were used for analysis. Quantitative data analysis was done through descriptive statistics, Confirmatory Factor Analysis (CFA) and Structural Equation Modelling (SEM) using (STATA 12) and the hypothesis was tested with the use of regression analysis. The result of the findings revealed that there is insignificant relationship between perceived risk and e-commerce acceptance. Based on the findings, the study recommended that e-commerce organizations and the government as a body should understand the business requirements and good management of information security sources of organization to ensure optimal security.
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