Factors affecting customers’ adoption of green banking: an interpretive structural modeling approach
Jain A., Behera B., Kochhar K.
Article, Qualitative Research in Financial Markets, 2025, DOI Link
View abstract ⏷
Purpose This study aims to recognize and analyze factors affecting consumers’ adoption of green banking. These identified factors are organized into a hierarchical structure to establish a contextual interconnectedness between them through the application of the interpretive structural modeling (ISM) technique. Design/methodology/approach Through an extensive review of the literature and experts’ opinions, this study identified 13 influential factors. Using the dual approach of ISM and Matrice d‘Impacts Croisés Multiplication Appliquée à un Classement (MICMAC), this study delves into the interrelationships between these factors in terms of their driving and dependence power. Findings The ISM model highlights customer guilt and attitude as crucial factors with high driving power, which amplify other factors. Behavior intention is positioned at the top of the hierarchy due to its highest dependence power. On the other hand, perceived value, environmental concern and perceived consumer effectiveness are higher-level factors directly impacting customers’ behavior intention toward adopting green banking. Research limitations/implications The results of this research may help banking institutions in strategically allocating their resources toward key areas that can amplify the uptake of green banking among customers. Moreover, it also suggests policymakers to implement incentives to encourage banks and customers to adopt green banking practices. Originality/value To the best of the authors’ knowledge, this study is the first to adopt dual methodological approach to identify the influential factors from literature review and expert opinions and model their impact on green banking adoption using ISM and MICMAC analysis.
Customer adoption of green banking: an extended theory of planned behavior
Jain A., Behera B., Kochhar K.
Article, Management Decision, 2025, DOI Link
View abstract ⏷
Purpose: Green banking has evolved in the financial sector to reduce the negative impact of economic progress. However, customers’ behavior remains indifferent towards bank’s green initiatives across nations. Therefore, this study examines the various factors affecting the behavior of Indian banking customers towards green banking by extending the theory of planned behavior (TPB). Design/methodology/approach: The study employed a quantitative research approach and distributed a self-administered questionnaire. Data from the 293 green banking service users in India’s Delhi-National Capital Region (NCR) have been collected using purposive and snowball sampling techniques. SPSS 26 and SmartPLS 3 were used to analyze data. Findings: The findings explained that environmental concern substantially predicts customer attitude, subjective norms and perceived behavior control towards green banking. Moreover, all the constructs within the TPB model were found to substantially impact customers’ inclination to adopt green banking, thereby leading to actual behavior. Research limitations/implications: Academically, the findings have broadened the TPB model’s application by adding a new construct in the context of green banking while confirming its applicability. Practically, it advises financial regulators and banking personnel to prioritize establishing a conducive environment for customers, characterized by the accessibility of green banking services under favorable conditions and at affordable rates. Originality/value: The study enhanced the understanding towards green banking by correlating different variables and extending the TPB model using SmartPLS 3 in the domain of green banking.
Adoption of Green Banking and Finance: A Systematic Review and Future Research Directions
Rana S., Jain A., Behera B., Kochhar K.
Review, Review of Management Literature, 2025, DOI Link
View abstract ⏷
Abstract – The objective of this chapter is to perform a systematic literature review (SLR) of the academic research on green banking and finance adoption and suggest areas of research that require further exploration. Using the POWER and Theory, Characteristics, Context and Methodology (TCCM) frameworks, the 51 relevant articles from Scopus database (2005–2023) were reviewed, with a focus on bibliometric insights and a framework-based review. The findings reveal a significant surge in publications after 2020, with India, China and Pakistan emerging as the top contributors. The stakeholder theory emerged as the most commonly applied framework for studying green banking and finance adoption intentions. The study further classified the various factors affecting the adoption of green banking under three categories: customer-related, employee-related and industry-related. Based on these insights, a comprehensive conceptual framework and substantial directions for subsequent empirical studies are proposed. The study also emphasizes the need to incorporate more environmental theories into banking sector research and calls for more extensive empirical studies to explore domain-specific services. The findings are crucial for customers, policymakers and financial institutions, aiding efforts to mitigate climate-related risks and enhance sustainability in banking sector.
Demonstrating the role of perceived benefit in green banking adoption: a multi-group analysis
Jain A., Behera B., Kochhar K.
Article, South Asian Journal of Business Studies, 2025, DOI Link
Understanding the drivers of innovative work behaviour among millennial employees in India’s IT sector: some exploratory research findings
Behera B., Panda R.K., Tiwari B., Chaubey A.
Article, Journal of Asia Business Studies, 2024, DOI Link
View abstract ⏷
Purpose: The study aims to develop a hierarchical model for innovative work behaviour (IWB) that can capture the complex associations among the factors contributing to IWB within the information technology (IT) sector. To accomplish this, the authors rely on an abductive approach using a graph theoretic model, often called interpretive structural modelling (ISM). Design/methodology/approach: After conducting an in-depth literature review and using the Delphi method, the authors identified 12 factors (11 enablers and IWB as an outcome). The authors collected data through the Delphi approach by sending the questionnaire to 11 experts from academia and the IT sector who have extensive experience and knowledge relevant to the study. The authors then used the ISM method to analyse the relationships among these factors and understand their driving forces. Findings: Based on the ISM model and the Matrice d'Impacts Croisés Multiplication Appliquée à un Classement analysis, the authors have identified that inclusive leadership, proactive personality and knowledge creation ability are the variables with strong driving power but weak dependence. Conversely, IWB has strong dependence but weak driving power. These findings suggest that to foster IWB, the organisation should prioritise inclusive leadership, proactive personality and knowledge-creation ability to succeed in challenging times. The study’s findings contribute to the social exchange theory, which explains IWB in a dynamic setting. Additionally, the study helps address the significant concerns that most IT companies face during times of crisis. Practical implications: The study provides valuable guidance for managers and policymakers who are grappling with the challenges of improving IWB in the IT sector. This study is particularly relevant as the industry is currently navigating an economic recession and facing intense competition from other tech companies launching new products and services. Originality/value: This research holds great significance for top executives, line managers and policymakers in the IT industry. It sheds light on the relevance and importance of various factors facilitating millennials' IWB.