Effects of Service Justice, Quality, Social Influence and Corporate Image on Service Satisfaction and Customer Loyalty: Moderating Effect of Bank Ownership

Md. Alamgir Hossain, Most. Nirufer Yesmin, Nusrat Jahan and Minho Kim
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Md. Alamgir Hossain: Department of Management, Hajee Mohammad Danesh Science and Technology University, Dinajpur 5200, Bangladesh
Most. Nirufer Yesmin: Department of Management, Hajee Mohammad Danesh Science and Technology University, Dinajpur 5200, Bangladesh
Nusrat Jahan: Department of Management Studies, Rabindra University Bangladesh, Sirajgonj 6770, Bangladesh
Minho Kim: Department of International Trade, Jeonbuk National University, Jeonju 561-756, Korea

Sustainability, 2021, vol. 13, issue 13, 1-13

Abstract: Today, the banking sector plays a significant role due to the substantial increase in the number of banks and has become an intensely competitive field. The purpose of this paper is to strengthen knowledge of retail banking services by finding the interrelationships between service justice, service quality, social influence, and corporate image concerning service satisfaction and loyalty. In addition, we sought to determine the moderating effect of bank ownership (i.e., state-owned and private sector banks) on the above relationships. Data were collected at random through online surveys that were analyzed using structural equation modeling. Empirical findings revealed that service justice and quality have a significant effect on service satisfaction and customer loyalty. Social influence has a significant effect on customer loyalty, but not on service satisfaction; however, corporate image is positively related to service satisfaction, but not to customer loyalty. Understandably, service satisfaction was assumed to have a fundamental relationship to consumer loyalty. However, moderation results indicated that state or private sector ownership of banks was an equally important moderating factor for almost all dimensions relevant to customer loyalty, other than service justice, social influence, and service satisfaction. The study presents theoretical contributions and considers the managerial implications for banking services that are potentially applicable to other financial institutions.

Keywords: service justice; service quality; social influence; corporate image; service satisfaction; customer loyalty (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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