The impact of the magnitude of service failure and complaint handling on satisfaction and brand credibility in the banking industry

The present research aims to investigate the effects of service failure and complaint handling on customer satisfaction with complaint handling which consequently impacts overall satisfaction and brand credibility. To examine the objectives of the present research, the authors deployed a sample of 384 respondents in Persian banks within Iran. Structural equation modeling has been used to analyze the data. The findings suggest that the magnitude of service failure negatively effects customer satisfaction with complaint handling. Complaint handling positively affects customer satisfaction with complaint handling. In addition, the results suggest that customer satisfaction with complaint handling positively influences brand credibility and overall satisfaction. Finally, overall satisfaction positively impacts brand credibility. The results revealed that if the complaint handling occurs instantly at the right time, it would have been a positive influence on customer satisfaction and ultimately develop brand credibility. Therefore, banks can adopt customer relationship management systems and processes which enable quick responses to customer complaints. Bank managers could find the results of the present study useful and beneficial in developing complaint handling efforts and expanding appropriate service recovery and brand credibility strategies.     

An investigation of the relationships among consumer satisfaction,loyalty, and market share in Kuwaiti loan services

This study investigates the relationships among customer satisfaction, customer loyalty, and market share in nearly 700 users of Kuwaiti bank loan services. The authors show that the expected positive relationships of satisfaction with market share and of satisfaction with loyalty are not supported in this sector of the banking industry. As expected, however, customer loyalty is shown to be related to market share. It appears that, within this product market, loyalty is not derived from customer satisfaction, but rather is based on other factors such as, for example, price, special deals, or bank–customer relationships. Therefore, market share in Kuwaiti loan services is dependent on banks creating and maintaining a large and loyal customer base.     

Earnings expectations and the quality of financial services

Using complaint data filed by consumers with the Consumer Financial Protection Bureau against financial institutions, we show that banks receive, on average, 13.3% more customer complaints in the quarter immediately after they narrowly beat analysts’ earnings forecasts. The effect is mainly driven by banks’ attempts to reduce their non-interest expenses to beat earnings benchmarks. The relationship is stronger when bank CEOs receive a greater proportion of incentive-based compensation. Overall, our paper demonstrates how capital market incentives exacerbate shareholder–customer conflicts.     

An empirical investigation of customer satisfaction and loyalty across two divergent bank segments

Customer satisfaction is an important indicator for customer loyalty, and numerous studies have identified the benefits that customer loyalty delivers to an organisation. Nevertheless, research also suggests that satisfied customers still defect. This study investigated the relationship between customer satisfaction and loyalty intentions within the Australian banking industry for two distinct customer segments, retirees and university students. Results indicate no significant difference in the satisfaction levels of either group; however, there were differences with respect to two of the five behavioural intentions dimensions: loyalty and switch. Satisfaction was found to have a significant impact on three of the five behavioural intentions dimensions: loyalty, pay more and external response, suggesting that management should initiate service policies aimed at securing improvements in customer satisfaction. However, there are also other constructs at work aside from satisfaction in determining future behavioural intentions.     

基于因子与回归分析的商业银行顾客满意度研究——以某上市银行长沙市支行为例

对某上市银行长沙市支行顾客满意度的调查数据进行因子分析，建立以顾客满意度为因变量、公共因子为自变量的回归分析方程，且方程和回归系数分别通过显著性水平为0．01的F检验和t检验。研究表明，对该银行顾客满意的影响，服务质量居首位，银行环境、产品、追踪服务居中间位，价格居末位。据此，提出了具有针对性的对策建议。     

Customer emotional regulation and relationship quality: Evidence from the banking industry

The aim of this paper is twofold: first to examine the extent to which customer perceptions of employee deep/surface acting influence customer deep/surface acting; second to assess the degree to which customer deep/surface acting strengthens/weakens the level of relationship quality (RQ). Survey data were collected from (291) respondents from 13 banks located in Jordan. Two key findings emerged from the current study. First, when customers encountered authentic employees (i.e., deep acting), they were more likely to modify their internal feelings to match the required displays, and less likely to express unauthentic emotions. On the other hand, when customers encountered unauthentic emotions, they were less likely to express unauthentic emotions. Second, customer deep acting is found to be positively associated with relationship satisfaction, commitment, and trust, whereas customer surface acting is negatively associated with relationship satisfaction and trust. This study adds to the body of knowledge on the antecedents of RQ through identifying customer emotional regulation as a key determinant of that.     

商业银行零售业务客户满意度的影响因素

本文通过对客户满意度相关文献的回顾,结合当前我国银行零售业务的现状,建立了零售业务客户满意度指标体系,并在问卷数据的基础上,对客户满意度的影响因素进行实证研究,发现等候时间、满意水平、服务态度和环境满意度是影响客户满意度的重要因素。考虑到我国银行业的实际经营情况,本文提出了改善商业银行零售客户满意度的四项措施:加强自助服务体系建设,以客户为中心梳理业务流程,尽量降低排队时间;提升处理投诉的客户满意度,消除客户的不满意程度;从培训员工态度入手提升整体服务质量;积极改善银行营业环境。     

Die Zufriedenheit von Versicherungsvertretern als unternehmerische Zielgröße

This paper deals with the Job satisfaction of exclusive agents focusing on its connection with customer loyalty. Although a relationship between these two components is quite feasible, there is a lack of explicit research eviden-ce. Therefore the study examines the direct and indirect relationships between the two components differentiated. First of all, it is examined, why and how exclusive agents contribute to competitive advantages of an insurance Company. Additionally, the determinants of customer loyalty in the insurance industry and the dimensions of exclusive agents job satisfaction are worked out. On this basis, a framework is proposed which integrates approaches from organizational psychology and marketing to job/dealer satisfaction as well as to customer loyalty. The empirical results of a study measuring exclusive agent job satisfaction complete the findings of the analysis, which provide evidence that exclusive agent satisfaction and customer loyalty have to be regarded as complementary aims of an insurance Company due to the certain interactions between them. Lastly, management implications are shown.     

Customer satisfaction and the cost of capital

Using a sample of U.S. firms from 1995 through 2015 and the customer satisfaction scores from the American Customer Satisfaction Index, we find strong evidence that firms with higher customer satisfaction scores enjoy lower cost of equity capital, even after controlling for other factors that determine the cost of equity. In addition, results from a propensity score matched sample analysis, a difference-in-differences analysis, and instrumental variable regressions suggest that our findings are robust to accounting for endogeneity. We also document that customer satisfaction is positively related to investor recognition and financial report quality. The effect of customer satisfaction on the cost of equity increases with the level of information asymmetry, consistent with customer satisfaction mitigating information asymmetry. Overall, our findings suggest that customer satisfaction lowers a firm’s risk and significantly attenuates its financing costs.

     

The Effects of Customer Satisfaction on Company Profitability: Evidence From the Property and Casualty Insurance Industry

Prior literature presents a positive link between customer satisfaction and firms’ financial outcomes, including greater revenue, profitability, and prices. However, few studies approach the topic of customer satisfaction in the insurance industry. Using a unique data set obtained from J.D. Power, we observe customer satisfaction among U.S. auto insurers and link their customer satisfaction rating to insurer profitability metrics. Our results support the notion that greater customer satisfaction leads to reduced expenses and increased profitability. A potential explanation is that more satisfied customers are more likely to remain with an insurance company and refer others to the insurer, reducing customer acquisition expenses.     

商业银行客户投诉的成因和对策

针对目前商业银行对客户投诉工作存在重视不足、管理不到位等问题,本文对商业银行客户投诉的成因进行归纳,主要包括因后台支撑问题导致的客户投诉;因员工服务质量问题导致的客户投诉;因客户自身原因导致的投诉;因银行之外的第三方原因导致的客户投诉等。在此基础上提出如下建议:商业银行应提高管理层和员工对客户投诉工作重要性的认识,建立标准化服务规范和投诉处理的快速反应机制,并通过采取加强对银行员工的技能培训,制定科学的客户投诉考核制度等措施,从而建立起完善、有效的客户投诉管理机制。     

内部营销、员工满意、服务质量与顾客满意关系研究

为了确定内部营销、员工满意、服务质量和顾客满意之间的因果关系,本文在文献研究的基础上构建了内部营销—员工满意—服务质量—顾客满意关系模型,并以35家商业银行的员工和顾客为实证样本,采用因子分析、结构方程模型检验了模型的假设关系。研究发现:内部营销不能直接影响顾客满意,但可以通过员工满意和服务质量而间接影响顾客满意;员工满意不但直接影响顾客满意,并通过服务质量间接影响顾客满意;服务质量既直接影响顾客满意,也是内部营销和员工满意发挥作用的中间环节。     

TRADER EXPLOITATION OF ORDER FLOW INFORMATION DURING THE LTCM CRISIS

By using a unique data set of audit trail transactions, I examine the trading behavior of market makers in the Treasury-bond futures market during the Long-Term Capital Management (LTCM) crisis in 1998. I find strong evidence that during the crisis market makers in the aggregate engaged in anticipatory trading against customer orders from a particular clearing firm (coded PI7) that closely match various features of LTCM's trades through Bear Stearns. I also show that a significant percentage of market makers made abnormal profits during the crisis. Their aggregate abnormal profits, however, were more than offset by abnormal losses following the recapitalization of LTCM.     

How does customer motivational orientation affect satisfaction?

This study examines the link between customer motivational orientation and customer satisfaction in the Chinese context. The customer motivational orientation–satisfaction model was tested on 349 Chinese bank customers in Macao, China. Results of structural equation modelling indicated that task-oriented and interaction-oriented customers were not equally responsive to the financial services provided. Specifically, task motivational orientation was directly and indirectly related to customer satisfaction through customer perceived service quality, whereas interaction motivational orientation only linked to customer satisfaction through customer perceived service quality as a mediator. The theoretical and practical implications of the findings are discussed.     

Customer prospects and pay-performance sensitivity: Evidence from Korea

This paper examines how business prospects in customer firms affect executive pay-performance sensitivity in supplier firms. Using Korean Input-Output Accounts Data and Business Confidence Index published by the Bank of Korea, I find that customer prospects are positively associated with executive pay-performance sensitivity and the association is extended to the components of performance in a way that encourages managers to better exploit the market opportunities. The positive association is more pronounced when the inter-industry data are more informative, when the firm belongs to a more competitive industry, and when the corporate governance is stronger.Data availabilityAll data are publicly available from sources identified in the text.     

E-banking comes to town: Exploring how traditional UK high street banks are meeting the challenge of technology and virtual relationships

UK high street banks are continuing to extend the choice of channel through which customers can manage their moneycolon; an obvious example is e-banking. They have been keen to exploit technological advances and changing customer attitudes to alternative channels. Additionally, competition from leaner new market entrants has provided an added incentive to adopt new approaches. In the light of such developments, it is worth reflecting on the changing nature of the bank–customer relationship. This paper suggests that banks are finding it difficult to manage relationships effectively due, in large measure, to the sheer volume of customer data generated by new interactive, technology-based channels. Paradoxically, it seems that the more data banks have about customers the less likely they are to know them on a personal level. It is further suggested that channels such as e-banking potentially reduce the level of personal contact between bank and customer to the extent that a ‘virtual’ relationship develops. This paper concludes that, given the tendency towards ‘virtualisation’, it is inconceivable that bank–customer relationships will become any more intimate in the future. Indeed, a greater degree of personalisation in customer communication may be the very best that banks are able to offer.     

银行个人理财服务顾客满意度影响因素

提高顾客满意度是个人理财服务快速发展的关键。本文从顾客角度探讨了我国银行个人理财服务销售人员的特征、品牌资产、关系品质、感知风险与顾客满意的关系,从而寻求提高顾客满意度的关键因素。通过建立假设模型、开发测量量表及对中国7家银行的数据统计分析,本文发现:销售人员特征对我国银行的个人理财服务顾客满意度总影响效果最大,其次为感知风险,再次为品牌资产;关系品质对顾客没有直接影响,但会通过感知风险间接影响顾客满意度。理财经理的素质和能力及品牌的塑造是我国银行个人理财服务发展的关键。     

新理念 新方式--客户关系管理(CRM)的营销审视与运用

从营销角度看 ,CRM是一种新的营销理念 ,它强调以客户为中心 ,并将其当作一种企业资源来管理 ;CRM是一种新的营销方式 ,它强调企业要由重视产品营销转变为重视全方位的服务、由重视需求差异化转变为重视需求个性化、由重视顾客满意转变为重视顾客愉悦、由重视市场的外部调研转变为重视建立和运用客户数据库。中国企业要全面实施CRM ,必须解决信息流、货币流、物流、服务、产品和组织等方面的诸多问题