Comparison of the present study with the recent literature reviews on CBDCs
| Author (year) | Country | Theory used | Mediating mechanism(s) | Moderating condition(s) | Key findings |
|---|---|---|---|---|---|
| Tronnier and Qiu (2024) | China | APCO Model, TTF theory | N/A | N/A | Self-efficacy, perceived vulnerabilities and control affected privacy concerns, which, together with TTF and government participation, influenced e-CNY adoption |
| Ozili (2024) | China, Nigeria, Eastern Caribbean, Bahamas | Schumpeter’s Theory of Innovation, Romer’s Innovation-Growth Model | N/A | N/A | The global fascination with cryptocurrencies and sustainable development influences the worldwide interest in CBDCs, such as e-CNY, e-Naira, D-Cash, and Sand Dollar |
| Xia et al. (2023) | China | PPF, TTF | Relative advantage, TTF | N/A | Privacy issues, TTF, users’ payment preferences, and governmental support positively influence CBDC users’ adoption intention. Furthermore, TTF was confirmed as a mediating mechanism in the model |
| Söilen and Benhayoun (2022) | Asia, Europe, USA, Africa, Oceania | UTAUT, Institutional Trust Theory | Trust | Age, gender, experience | Performance expectancy and social influence significantly impact the behavioral intention. Trust was also recognized as a mediating tool in the model |
| Radic et al. (2022) | China, Korea, USA | TPB | N/A | Type of CBDCs (Digital US Dollar vs Digital Won vs e-CNY) | Attitude, perceived behavioral control, perceived risk, and relative advantage are the critical factors of CBDCs adoption intention. Besides, the usage intention changes across different types of CBDCs |
| Wu et al. (2022) | China | UTAUT | Perceived value | N/A | Financial knowledge, perceived value, perceived convenience, and openness to innovation are the significant predictors of intention to use CBDC. Perceived value is also a critical mediating mechanism in the model |
| The present study | China | DOI, UTAUT, TPB | Attitude | Trust, self-efficacy | Compatibility, observability, and effort expectancy drive trialability, which in turn significantly influences users’ attitudes and behavioral intentions towards e-CNY. Moreover, attitudes and perceived trust exert intervening effects within the model |
| Author (year) | Country | Theory used | Mediating mechanism(s) | Moderating condition(s) | Key findings |
|---|---|---|---|---|---|
| China | APCO Model, TTF theory | N/A | N/A | Self-efficacy, perceived vulnerabilities and control affected privacy concerns, which, together with TTF and government participation, influenced e-CNY adoption | |
| China, Nigeria, Eastern Caribbean, Bahamas | Schumpeter’s Theory of Innovation, Romer’s Innovation-Growth Model | N/A | N/A | The global fascination with cryptocurrencies and sustainable development influences the worldwide interest in CBDCs, such as e-CNY, e-Naira, D-Cash, and Sand Dollar | |
| China | PPF, TTF | Relative advantage, TTF | N/A | Privacy issues, TTF, users’ payment preferences, and governmental support positively influence CBDC users’ adoption intention. Furthermore, TTF was confirmed as a mediating mechanism in the model | |
| Asia, Europe, USA, Africa, Oceania | UTAUT, Institutional Trust Theory | Trust | Age, gender, experience | Performance expectancy and social influence significantly impact the behavioral intention. Trust was also recognized as a mediating tool in the model | |
| China, Korea, USA | TPB | N/A | Type of CBDCs (Digital US Dollar vs Digital Won vs e-CNY) | Attitude, perceived behavioral control, perceived risk, and relative advantage are the critical factors of CBDCs adoption intention. Besides, the usage intention changes across different types of CBDCs | |
| China | UTAUT | Perceived value | N/A | Financial knowledge, perceived value, perceived convenience, and openness to innovation are the significant predictors of intention to use CBDC. Perceived value is also a critical mediating mechanism in the model | |
| The present study | China | DOI, UTAUT, TPB | Attitude | Trust, self-efficacy | Compatibility, observability, and effort expectancy drive trialability, which in turn significantly influences users’ attitudes and behavioral intentions towards e-CNY. Moreover, attitudes and perceived trust exert intervening effects within the model |
Note(s): APCO stands for Antecedent Privacy Concerns and Outcomes model and N/A refers to not applicable
Source(s): Authors’ own design based on literature reviews