Current Agriculture, Food & Resource Issues
G. Hailu, E. W. Goddard and S. R. Jeffrey
Table 5 Multiple Regression Estimates of Determinants of Attitude, Subjective Norms
and Perceived Behavioural Control (N=30)
Variable Attitude Subjective norm PBC
|
Intercept |
19.734*** |
(4.124) |
3.371 |
(1.339) |
25.561*** |
(3.061) |
|
Manager |
-14.008*** |
(-2.980) |
-4.538* |
(-1.834) |
-16.600** |
(-2.024) |
|
Age old |
-16.676*** |
(-3.225) |
-0.600 |
(-0.221) |
-12.881 |
(-1.427) |
|
Income high |
-1.903 |
(-0.392) |
-3.174 |
(-1.242) |
8.177 |
(0.965) |
|
Education high |
-1.980 |
(-0.437) |
-0.140 |
(-0.059) |
-6.647 |
(-0.841) |
|
R2 |
0.373 |
0.176 |
0.217 |
Manager = 1, if a manager, 0 otherwise; age old = 1, if age > 54, 0 otherwise; income high = 1, if
income > $100,000, 0 otherwise; and education high = 1, if > high school, 0 otherwise.
Figures in parentheses are t-statistic.
***, **, and * represent 99%, 95% and 90% confidence levels, respectively.
behavioural control, frequency of previous gambling behaviour, and individual
characteristics on behavioural intentions are investigated using ordered probit regression.
The parameter estimates for equations (4)-(6) are obtained using least-square procedures
(table 5) whereas those for equation (8) are obtained using a maximum likelihood
procedure in TSP 4.5 (tables 6 and 7).
Results from multiple regression analysis indicate that 37.3 percent, 17.6 percent and
21.7 percent of the variations in attitude, subjective norm and perceived behavioural
control, respectively, are explained by respondent characteristics. Being a manager has a
negative impact on the values (indices) of attitude, subjective norm and perceived
behavioural control. As opposed to directors, managers may have unfavourable opinions
toward increases in long-term borrowing to finance business expansion. Being a manager
also has a negative effect on subjective norm. As opposed to directors, managers also
perceive that they have less control over co-operative business decisions. Age has a
statistically significant relationship to attitude, subjective norm and perceived behavioural
control. Sample DMs who are older than 54 years of age have unfavourable feelings
toward increases in long-term borrowing.
Determinants of Behavioural Intention
The next step is to investigate the impacts of social-psychological variables (i.e., attitude,
subjective norm and perceived behavioural control) and respondent characteristics on
behavioural intention to increase long-term borrowing. In this study 53.3 percent of the
respondents report that they intend to approve additional long-term borrowing over the
next two years; 13.3 percent are “very likely” to approve additional borrowing. Moreover,
63 percent of the respondents state that, if there are tax benefits, they are neutral about
increasing additional borrowing. When respondents were asked their intentions to finance
expansions using 100 percent long-term debt if costs of borrowing are low, only 15
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