The adoption of commercial innovations in the former Central and Eastern European markets : The case of internet banking in Estonia

Purpose – This study aims to examine innovation adoption in the context of internet banking in Estonia. Design/methodology/approach – The data presented in this study are based on 1,831 questionnaires collected from individual internet banking users in Estonia. Findings – This study extends the applicability of the innovation adoption model developed by Everett Rogers to Estonian internet banking. The model starts with the independent variables: relative advantage; complexity; perceived risk; and compatibility, and the analysis shows that relative advantage and complexity have the strongest influence on adoption of internet banking. Practical implications – The managerial implications of this paper include its contributions toward better understanding of the commercial viability in CEE economies of businesses based on Western‐style technology. Originality/value – This study suggests modifications to Rogers' original model in order to apply it to the fast‐growing new CEE economies, thus reaffirming the importance of his model.