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The Technology Acceptance Model (TAM) has lately been utilized in a number of studies to investigate why people reject or adopt new technologies like mobile commerce or e-learning. However, several studies have found weaknesses in TAM’s ability to predict consumers’ purchase intention behavior. To compensate for TAM’s weaknesses, this study presents a model that integrates all of TAM’s components with the Value-Based Adoption Model (VAM). The perceived benefits and sacrifices were considered to provide a list of the implications for both researchers and e-learning service providers. Furthermore, the moderating role of e-word of mouth was utilized to examine the relationship between attitude, intention, perceived value, and intention toward e-learning, in order to match the current circumstances with the growing popularity of social networks. This study was conducted with a quantitative analysis by using data collected from survey 417 e-learning consumers. Except for perceived fee, which has a negative effect on perceived value, the results demonstrate that all hypotheses of latent correlations in TAM and VAM were strongly significant. Furthermore, attitude and perceived value have a significant role in determining consumer adoption of e-learning. Consumers’ perceived value will be driven by the high and low levels of the moderating influence of e-word of mouth, influencing their intention toward e-learning. Since e-learning is an effective sustainable education system, the result of this study can provide a good solution to facilitate e-learning in current and future conditions.

The Integration of the Technology Acceptance Model and Value-Based Adoption Model to Study the Adoption of E-Learning: The Moderating Role of e-WOM