Effects of Service Justice, Quality, Social Influence and Corporate Image on Service Satisfaction and Customer Loyalty: Moderating Effect of Bank Ownership
Abstract
:1. Introduction
2. Hypothesis Development
2.1. The Relationship between Service Justice, Satisfaction, and Customer Loyalty
2.2. Nexus between Service Quality, Satisfaction, and Customer Loyalty
2.3. Relationship between Social Influence, Service Satisfaction, and Customer Loyalty
2.4. Nexus between Corporate Image, Service Satisfaction, and Customer Loyalty
2.5. Nexus between Service Satisfaction and Customer Loyalty
2.6. State-Owned and Private Sector Retail Banks as Moderators
3. Research Methodology
3.1. Method and Sample
3.2. Instrument and Variables
4. Empirical Results Discussion
4.1. Measurement Model
4.2. Structural Model Assessment
4.3. Moderation Model Assessment
4.4. Brief Discussions
5. Conclusions and Implications
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Conflicts of Interest
References
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Variable | Items | Freq. | % |
---|---|---|---|
Gender | |||
Female | 181 | 77.4 | |
Male | 53 | 22.6 | |
Bank ownership type | |||
State-owned | 132 | 56.4 | |
Private sector | 102 | 43.6 | |
Banking system | |||
Traditional | 206 | 88.0 | |
Islamic | 28 | 12.0 |
Constructs and Items | Std. Estimates | t-Value | p-Value |
---|---|---|---|
Service justice [6] | |||
SJ1: My bank tried to be fair. | 0.812 | Fixed | |
SJ2: The service I received was fair enough. | 0.752 | 13.068 | *** |
SJ3: The bank showed me the respect I deserve. | 0.684 | 11.537 | *** |
Service quality [29] | |||
SQ1: This bank has employees who give me personal attention. | 0.853 | Fixed | |
SQ2: The bank is accessible through various ways (ATM, online, in-person) | 0.780 | 13.994 | *** |
SQ3: The bank has an effective complaint handling process. | 0.708 | 12.170 | *** |
Social influence [60] | |||
SI1: People in my surroundings who use bank services have more prestige than those who do not. | 0.741 | Fixed | |
SI2: People who influence my behavior think that I should use bank services. | 0.808 | 12.225 | *** |
SI3: People who are important to me think that I should use bank services. | 0.753 | 11.349 | *** |
SI4: Using banking services is a status symbol in my surroundings. | 0.848 | 12.850 | *** |
Corporate image [29] | |||
CI1: My bank can be trusted in what it says and does. | 0.655 | Fixed | |
CI2: My bank provider has a positive image with its customers. | 0.866 | 11.058 | *** |
CI3: My bank provides stable and consistent services. | 0.861 | 11.012 | *** |
Service satisfaction [29,59] | |||
ST1: I enjoy dealing with my banker. | 0.793 | Fixed | |
ST2: I feel very satisfied with the overall experience of using my bank. | 0.872 | 15.358 | *** |
ST3: Overall, I am satisfied with the services rendered by my bank. | 0.906 | 16.174 | *** |
Customer loyalty [29,59] | |||
CL1: I consider my bank as my bank. | 0.814 | Fixed | |
CL2: I say positive things about my bank to others. | 0.778 | 13.720 | *** |
CL3: I may use this bank in the future. | 0.798 | 14.229 | *** |
CL4: I intend to purchase services for this bank again in the future. | 0.816 | 14.695 | *** |
Cronbach’s Alpha | CR | AVE | MSV | SJ | SQ | SI | CI | ST | CL | |
---|---|---|---|---|---|---|---|---|---|---|
SJ | 0.823 | 0.794 | 0.564 | 0.982 | 0.751 | |||||
SQ | 0.821 | 0.825 | 0.612 | 0.826 | 0.456 | 0.783 | ||||
SI | 0.868 | 0.868 | 0.622 | 0.787 | 0.612 | 0.318 | 0.789 | |||
CI | 0.831 | 0.840 | 0.640 | 0.826 | 0.501 | 0.190 | 0.452 | 0.800 | ||
ST | 0.891 | 0.893 | 0.737 | 0.943 | 0.255 | 0.128 | 0.299 | 0.368 | 0.858 | |
CL | 0.876 | 0.878 | 0.643 | 0.982 | 0.945 | 0.887 | 0.873 | 0.815 | 0.991 | 0.802 |
Model Fit Indices | Recommended Value | Obtained Value |
---|---|---|
CMIN/DF | <3 | 1.598 |
GFI | ≥0.90 | 0.918 |
AGFI | ≥0.85 | 0.881 |
CFI | ≥0.90 | 0.976 |
IFI | ≥0.90 | 0.977 |
TLI | ≥0.90 | 0.970 |
RMSEA | ≤0.08 | 0.051 |
Hypotheses | Paths | Std. Coefficient (t-Value) | Result | ||
---|---|---|---|---|---|
H1a | Service justice | → | Service satisfaction | 0.786 (9.06) *** | Supported |
H1b | Service justice | → | Customer loyalty | 0.625 (2.92) *** | Supported |
H2a | Service quality | → | Service satisfaction | 0.293 (5.04) ** | Supported |
H2b | Service quality | → | Customer loyalty | 0.274 (3.06) ** | Supported |
H3a | Social influence | → | Service satisfaction | 0.165 (0.723) n.s. | Not supported |
H3b | Social influence | → | Customer loyalty | 0.437 (5.285) *** | Supported |
H4a | Corporate image | → | Service satisfaction | 0.236 (4.139) *** | Supported |
H4b | Corporate image | → | Customer loyalty | 0.123 (1.619) n.s. | Not supported |
H5 | Service satisfaction | → | Customer loyalty | 0.228 (5.289) *** | Supported |
Variance explained: R- squared Service satisfaction 0.68 Customer loyalty 0.56 |
State-Owned | Private Sector | X2 Difference Test | ||
---|---|---|---|---|
Estimate | p-Value | Estimate | p-Value | Result |
0.544 | *** | 0.574 | *** | Not different |
0.431 | *** | 0.171 | 0.568 | Different |
0.178 | *** | 0.165 | 0.001 | Not different |
0.17 | 0.001 | 0.1 | 0.301 | Not different |
0.162 | 0.003 | 0.172 | 0.002 | Not different |
0.287 | *** | 0.190 | 0.03 | Different |
0.211 | 0.004 | 0.183 | *** | Not different |
0.007 | 0.91 | 0.086 | 0.401 | Not different |
0.144 | 0.41 | 0.617 | 0.198 | Different |
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Hossain, M.A.; Yesmin, M.N.; Jahan, N.; Kim, M. Effects of Service Justice, Quality, Social Influence and Corporate Image on Service Satisfaction and Customer Loyalty: Moderating Effect of Bank Ownership. Sustainability 2021, 13, 7404. https://doi.org/10.3390/su13137404
Hossain MA, Yesmin MN, Jahan N, Kim M. Effects of Service Justice, Quality, Social Influence and Corporate Image on Service Satisfaction and Customer Loyalty: Moderating Effect of Bank Ownership. Sustainability. 2021; 13(13):7404. https://doi.org/10.3390/su13137404
Chicago/Turabian StyleHossain, Md. Alamgir, Most. Nirufer Yesmin, Nusrat Jahan, and Minho Kim. 2021. "Effects of Service Justice, Quality, Social Influence and Corporate Image on Service Satisfaction and Customer Loyalty: Moderating Effect of Bank Ownership" Sustainability 13, no. 13: 7404. https://doi.org/10.3390/su13137404