Antecedents of Corporate Governance and Customer Satisfaction in the Banking Sector of Zimbabwe

Dr Faitira Manuere, Viriri Piason, Whami Martha and Taurai Manyadze
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Dr Faitira Manuere: Department of Entrepreneurship and Business Management, Chinhoyi University of Technology, Zimbabwe
Viriri Piason: Department of International Marketing, Chinhoyi University of Technology, Zimbabwe
Whami Martha: Department of Entrepreneurship and Business Management, Chinhoyi University of Technology, Zimbabwe
Taurai Manyadze: Department of Entrepreneurship and Business Management, Chinhoyi University of Technology, Zimbabwe

International Journal of Research and Innovation in Social Science, 2020, vol. 4, issue 11, 179-182

Abstract: Customer satisfaction remains one of the pillars of company performance in the banking sector of Zimbabwe. The aim of the study is to measure the relationship between customer satisfaction and corporate governance in the banking sector. There are thirteen commercial banks in Zimbabwe. These banks include Agriculture Development Bank of Zimbabwe, BancABC, First Capital Bank Limited, CBZ Bank Limited, Ecobank Zimbabwe Limited, Stanbic Bank Limited, Nedbank Zimbabwe Limited, Metbank, NMB Bank, Stanbic Bank, Steward Bank and ZB Bank. A review of extent literature shows that no study has been done to investigate the impact of corporate governance on customer satisfaction in the commercial banks of Zimbabwe. Therefore, this study makes use of two corporate governance variables. These are: CEO duality and outside directors. A structured questionnaire was used to collect primary data for this study. The systematic sampling technique enabled the research to generate a sample of 163 customers from the given commercial banks. Hierarchical regression tests were used to test the hypothesis in this study. The results showed that CEO duality is associated with poor customer satisfaction. However, there is no significant relationship between outside directors and customer satisfaction. The study recommends that commercial banks should provide both efficient and attractive services in order to lure more customers.

Date: 2020
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