Extending the Theory of Planned Behavior in financial inclusion participation model – evidence from an emerging economy

Figures & data

Figure 1. Research framework.

Table 1. Indicator reliability, composite reliability, and average variance extracted.

Constructs	Items	Loadings	Composite Reliability	AVE
	A1	0.90
Awareness	A2	0.83	0.86	0.62
	A3	0.75
	A4	0.63
	ABDC1	0.68
Access to Banking and Digital Channels	ABDC4	0.64	0.78	0.54
	ABDC5	0.86
	ATT1	0.82
	ATT2	0.79
Attitude	ATT3	0.62	0.86	0.56
	ATT4	0.70
	ATT5	0.77
	BI1	0.81
	BI2	0.76
Behavioural Intention	BI3	0.69	0.87	0.58
	BI4	0.76
	BI5	0.77
	FI10	0.86
	FI11	0.82
	FI2	0.80
Financial Inclusion Participation	FI4	0.48	0.89	0.52
	FI6	0.72
	FI7	0.62
	FI8	0.73
	FI9	0.69
	GS1	0.67
Government Support	GS2	0.80	0.87	0.63
	GS3	0.92
	GS4	0.77
	PBC1	0.84
Perceived Behavioral Control	PBC2	0.78	0.88	0.66
	PBC3	0.77
	PBC4	0.86
	SN1	0.95
Subjective Norms	SN2	0.78	0.89	0.67
	SN3	0.86
	SN4	0.67

Table 2. Heterotrait-monotrait ratio (HTMT) - matrix.

Constructs	1	2	3	4	5	6	7	8
Awareness
Access to Ban. and Digital Channels	0.56
Attitude	0.72	0.57
Behavioural Intention	0.50	0.93	0.54
Financial Inclusion	0.80	0.84	0.83	0.78
Government Support	0.52	0.28	0.51	0.29	0.61
Perceived Behavioral Control	0.26	0.52	0.60	0.40	0.59	0.27
Subjective Norms	0.60	0.82	0.71	0.86	0.76	0.31	0.32

Table 3. Evaluation of path coefficients for hypotheses testing.

Hypotheses	Relationship	Beta	SE	T statistics	P values	Decision
	Hypotheses for Direct Effects
Ha1	Attitude-> Financial Inclusion Participation	0.27	0.04	7.24	0.00	Supported
Ha2	Subjective Norms -> Financial Inclusion Participation	0.08	0.05	1.63	0.05	Supported
Ha3	Perceived Behavioral Control -> Financial Inclusion Participation	0.16	0.03	4.81	0.00	Supported
Ha4	Behavioural Intention -> Financial Inclusion Participation	0.08	0.05	1.65	0.05	Supported
Ha5	Awareness -> Financial Inclusion Participation	0.24	0.06	4.30	0.00	Supported
Ha6	Government Support -> Financial Inclusion Participation	0.14	0.03	5.17	0.00	Supported
Ha7	Access to Banking and Dig. Channel -> Financial Inclusion Participation	0.01	0.05	0.25	0.40	Not Supported
Control Variable
Control	Gender -> Financial Inclusion Participation	−0.32	0.09	3.64	0.00	Significant
Control	Religion -> Financial Inclusion Participation	−0.02	0.02	1.19	0.12	Insignificant
Control	Location -> Financial Inclusion Participation	−0.19	0.06	3.00	0.00	Significant
Control	Income Level -> Financial Inclusion Participation	−0.09	0.05	1.94	0.03	Significant

Table 4. Coefficient of determination (R-squared).

Endogenous Constructs	R-square	R-square adjusted
Financial Inclusion Participation	0.87	0.86

Table 5. Effect size (f²).

Constructs	Financial Inclusion Participation
	f^2	Effect Size
Attitude	0.20	Medium
Subjective Norms	0.01	Very Small
Perceived Behavioral Control	0.12	Medium
Behavioural Intention	0.01	Very Small
Awareness	0.15	Medium
Government Support	0.11	Small
Access to Ban. and Digital Channels	0.00	None

Table 6. Predictive relevance (Q²).

Endogenous Construct	Q²predict	RMSE
Financial Inclusion Participation	0.82	0.43

Data availability statement

The study used data obtained from a survey which can be provided on request.