Managers’ Perception of Financial Innovations in Turkey

Innovation is often considered a key contributor to firms’ competitiveness. However, its success largely depends on manager’s willingness to accept an innovation. The purpose of this study is to examine managers’ perceptions on financial innovation and the factors that influence their adoption decisions. Using the Technology Acceptance Model (TAM), the study analyzes data collected from a sample of 500 firms in Turkey. The findings show that managers are more likely to adopt financial innovations that are perceived to be easy to use and accessible. Gender, age and level of education are observed to have significant impact on managers’ perception. For example, female managers are likely to be risk averse when making financial innovation decisions than male managers. Younger managers tend to test the innovation before fully implementing it and are more concerned about accountability for the success or failure of the innovation. The results also indicate that accessibility, ease of use, risk and accountability are crucial factors influencing managers' perception on financial innovations. Finally, this research contributes to the literature on financial innovation and provides valuable insights for managers in Turkey to make informed financial innovation decisions. Received: 10 August 2024 / Accepted: 31 October 2024 / Published: 05 November 2024