Adoption of new technologies in developing countries: The case of autonomous car between Vietnam and Colombia

Abstract

The objective of the present study was to examine the moderating effect of Hofstede's cultural dimension of indulgence on the relationship between risk perception (financial, psychological, and time) and purchase intention regarding autonomous cars in Colombia and Vietnam using a multi-group model. A total of 800 Colombian and Vietnamese car drivers aged 18 or over participated by completing a personal questionnaire through a polling firm. The methodological contribution of the study is its use of variables related to the consumer and the environment that affect the adoption of this type of new technology. The findings showed that indulgence had a direct influence on the adoption of new technologies that have a lesser impact on the environment. For financial and psychological risk and the relationship with purchase intention, it was possible to find moderation effects in the country characterized by a low degree of indulgence. However, in the case of time risk, the moderation effect of indulgence was found in both countries (i.e., those with a low and high degree of indulgence). People in the country with a high degree of indulgence tended to feel anxious and stressed when faced with the decision to acquire the new technology.