DOI: 10.4018/IJEIS.2019100101 International Journal of Enterprise Information Systems Volume 15 • Issue 4 • October-December 2019 Copyright © 2019, IGI Global. Copying or distributing in print or electronic forms without written permission of IGI Global is prohibited. 1 The Mediating Role of Perceived Value in the Efect of Multi-Dimensional Risk in Mobile Banking Long Pham, School of Management, College of Business and Social Sciences, University of Louisiana at Monroe, Monroe, USA & Department of Economics and Management, Thuyloi University, Hanoi, Vietnam Stan Williamson, School of Management, College of Business and Social Sciences, University of Louisiana at Monroe, Monroe, USA Cyrus Mohebbi, School of Business, New York University, New York City, USA Binh Nguyen, Military Commercial Joint Stock Bank, Hanoi, Viet Nam Hien Nguyen, Vietnam - Japan Institute for Human Resources Development, Foreign Trade University, Hanoi, Vietnam ABSTRACT This study examines which risk factors contribute most to perceived risk in Vietnam’s mobile banking environment; explores the relationships among perceived risk, perceived value and intention to use mobile banking in Vietnam’s mobile banking environment; and investigates any mediating role perceived value may have in the relationship between perceived risk and intention to use mobile banking in Vietnam’s mobile banking environment. A convenience sample of 403 respondents who were customers of one of the largest joint stock commercial banks in Vietnam was used. The results of this study indicated that perceived risk is negatively related to intention to use mobile banking; that perceived value is positively associated with intention to use mobile banking; that perceived risk is negatively related to perceived value; and that perceived value plays a partial mediating role in the relationship between perceived risk and intention to use mobile banking. KEywoRDS Consumer Behavior, Intention to Use, Mobile Banking, Mobile Commerce, Perceived Risk, Perceived Value, Vietnam INTRoDUCTIoN The advancement of communication and information technology in general and mobile and wireless Internet technology in particular are changing business activities of service providers (Liebana- Cabanillas & Alonso-Dos-Santos, 2017; Long & Thanh, 2016; Long & Vy, 2016; Long et al., 2011; Pham et al., 2018a; Pham et al., 2018b; Pham et al., 2019a; Pham et al., 2019b). The banking industry is no exception (Luo et al., 2010; Pham & Doan, 2014; Pham et al., 2013) where these technologies are revolutionizing interactions between customers and the bank (Hanafizadeh & Khedmatgozar, 2012). Customers can now interact with the bank anytime, anywhere through a mobile device connected to the wireless Internet (e.g., smartphone, tablet, or personal digital support - PDA) (Changchit et al., 2018). With mobile banking, customers can check their account balances, make transfers, pay bills, or participate in financial investment activities at their convenience regardless of their location (Hanafizadeh et al., 2014).