This thesis describes a quantitative post-positivist research in the field of e-business, more specifically, in value creation through carrying out e-business in banking services industry (e-banking). For banks managers, the value creation is one of the most important issues in formulating e-business strategies. Moreover, value creation in e-business is one of the most important issues in deciding about e-business component investments and that value is a construct that is hard to define and even harder to model and understand. However, a problem for managers, investors and researchers is to understand the value of these strategies and their links to performance improvements. This study aims at helping to develop our understanding of the e-business value as an outcome for carrying out e-business in the banking services industry, a sector where the lack of empirical academic studies is striking due to the novelty of the phenomenon. The research addresses this dilemma by developing an integrative theoretical framework named “e-TOEECLN” model, for assessing e-business conduct and value creation in the banking services industry (i.e., e-banking), beyond initial adoption.