(Luận văn) impact of motivatiors on employee retention , a study of banking industry in vietnam

t to UNIVERSITY OF ECONOMICS HO CHI MINH CITY ng International School of Business hi ep w n lo ad ju y th TANG LE HUY yi pl n ua al n va IMPACT OF MOTIVATORS ON EMPLOYEE fu ll RETENTION: A STUDY OF BANKING INDUSTRY oi m nh at IN VIETNAM z z k jm ht vb ID:21110011 gm MASTER OF BUSINESS (Honours) l.c SUPERVISOR: Dr PHAM NGOC THUY om n a Lu n va y te re th Ho Chi Minh City - Year 2014 t to Acknowledgement ng hi ep Firstly, I would like to express my appreciation to my research supervisor, Dr Pham Ngoc Thuy w n lo for her support, suggesting, guidance during time of my dissertation ad y th Secondly, I would like to express my gratitude to ISB committee thoroughly guidance, support to ju every student in each steps of this study yi pl Thirdly, I would warmly thank my family, who has continued to be a source of inspiration and al n ua encouragement throughout this program, especially my parents, and my wife who give a motivator n va for me to accomplish the MBA degree ll fu Last, ISB staff helped, supported with their best for convenience of MBUS I am greatly m oi appreciated for their contribution to my present result z z k jm ht vb February 2014 at nh Tang Le Huy om l.c gm n a Lu n va y te re th I t to ABSTRACT ng hi ep Employees retaining is very important for surviving of any organization The study identifies and measures the impact level of motivator factors on employee retention in banking industry in w n lo Vietnam Data was collected from 228 persons, who work in three commercial banks in Binh ad Duong province A likert-scale questionnaire was used to detect motivated factor and employee‘s y th ju retention The measurement scales were refined and tested unidimentionality, reliability and yi pl validity by Cronbach‘s alpha and exploratory factor analysis Multiple regression analysis was al n ua used to analyze the data of the study Research results suggested that Growth, Advancement, n va Recognition, Responsibility, and Achievement have positive impacts on employee retention in ll fu banking industry oi m at nh Key words: motivated factors, employee‘s retention z z k jm ht vb om l.c gm n a Lu n va y te re th II t to TABLE OF CONTENT ng LIST OF TABLES VI hi ep LIST OF FIGURES VI CHAPTER 1: INTRODUCTION w n Background lo 1.1 ad Problem statement 1.3 Research Objectives 1.4 Research scope 1.5 Thesis structure ju y th 1.2 yi pl ua al n CHAPTER 2: LITERATURE REVIEW va n 2.1 Predictors of employee retention fu Motivators of Employee retention ll 2.2 m Advancement 2.2.2 Responsibility 10 2.2.3 Recognition 10 2.2.4 Achievement 11 2.2.5 Growth 11 oi 2.2.1 at nh z z k jm ht vb gm 2.3 Model and Hypothesis 12 2.4 Chapter summary 13 l.c om CHAPTER 3: RESEARCH METHODOLOGY 14 a Lu 3.1 Research design 14 n 3.2.1 Sampling : 15 y te re 3.2.2 Method of analysis 16 n va 3.2 Research methodology 15 3.3.1 Minesota satisfaction Questionnaire (MSQ) 17 III th 3.3 Measuring instrument 17 t to 3.3.2 Employee retention 18 ng 3.4 Chapter summary 19 hi ep CHAPTER : DATA ANALYSIS AND FINDINGS 20 4.1 Sample characteristics 20 w n 4.1.1 Gender: 20 lo ad 4.1.2 Age: 20 y th 4.1.3 Working position: 21 ju yi 4.2 Assessment of measurement scales 21 pl ua al 4.2.1 Testing reliability of scales 22 n 4.2.2 Exploratory Factor Analysis (EFA) 24 va 4.3 Testing model and hypotheses 26 n fu ll 4.3.1 Testing model 26 m oi 4.3.2 Testing hypotheses 28 nh 4.3.3 Description of statistics of overall employee retention 31 at z 4.4 Discussions 31 z ht vb 4.4.1 Levels of importance of motivators 31 k jm 4.4.2 Differentiation among three groups of working duration 33 gm 4.4.3 Comparing the level of retention between managers and staff 35 4.6 Chapter summary 37 l.c om CHAPTER : CONCLUSIONS AND RECOMMENDATIONS 38 a Lu 5.1 Conclusion 38 n 5.2 Managerial implication and Recommendation 39 n va 5.3 Limitation and further research direction 42 y te re th IV t to ng REFERENCES 43 hi ep APPENDIX : SURVEY QUESTIONNAIRE 47 APPENDIX : CRONBACH'S ALPHA TEST RESULTS 51 w n lo APPENDID 3: EXPLORATORY FACTOR ANALYSIS TEST RESULTS 55 ad APPENDID 4: RESULTS OF REGRESSION ANALYSIS 58 ju y th yi pl n ua al n va ll fu oi m at nh z z k jm ht vb om l.c gm n a Lu n va y te re th V t to LIST OF TABLES ng Table 1: The turnover rate of Vietinbank in 2012-2013 hi ep Table 2: Maslow vs Hertzberg - Comparative Analysis: w Table : The result of job enrichment program by Herzberg 1976 n lo Table : Descriptive Statistics by gender 20 ad Table 7: Descriptive Statistics by age 21 y th ju Table 8: Descriptive Statistics by working position 21 yi Table 9: Cronbach's Alpha test results 22 pl ua al Table 10: KMO and Bartlett's Test 24 n Table 11: Total Variance Explained 24 va n Table 12: Rotated Component Matrix(a) 24 fu ll Table 13: Result of EFA Retention 25 m oi Table 14: Summary results of testing scales 26 nh at Table 15: Correlations (a) 27 z Table 16: Model Summary (b) 27 z vb Table 17: ANOVA(b) 27 jm ht Table 18: Coefficients(a) 28 k gm Table 19: Regression coefficients 29 Table 20: Descriptive statistics for the dimensions of employee retention 31 om l.c Table 21: Levels of importance factors on employee retention 31 n a Lu Table 22: Descriptive statistics for employee‘s working time 33 Table 24: Coefficients of three groups employee's working time 34 y te re Table 25: Retention of employees 36 n va Table 23: Model Summary(b) of three groups employee's working time 34 VI th Table 26: Retention of managers, supervisors 36 t to LIST OF FIGURES ng Figure 1: Research model 12 hi ep Figure 2: Research procedure 14 Figure 3: Regression coefficients of model 30 w n lo ad ju y th yi pl n ua al n va ll fu oi m at nh z z k jm ht vb om l.c gm n a Lu n va y te re th VII t to CHAPTER 1: INTRODUCTION ng hi ep This chapter is an introduction and to provide background information of the present study and w its objectives and purpose It includes five sections The first section is background of the n lo ad research, the second is the problem statement, the third is the research objective, the fourth is the yi 1.1 Background ju y th scope of study and the final section is the structure of study pl ua al The retention of employees is very important for the development and the n accomplishment of an organization‘s goals and objectives Retention of employees can be a vital va n source of competitive advantage for any organization Today, changes in technology, global fu ll economics crisis, are directly affecting the relationships between employee and employer oi m Outstanding employees may leave an organization because they become dissatisfied, underpaid nh at or unmotivated (Coff, 1996) Besides these problems, asymmetric information or lack of z z information about the employees‘ performance may make a challenge for organization to retain vb k able to distinguish productive workers from non-productive ones jm ht productive employees Without adequate employees‘ performances, an organization may not be gm Insufficient information about employees‘ performance may result in adverse selection l.c om by them (Grossman & Hart, 1986) The employees who perform better may move to other a Lu organizations for better opportunities The employees who cannot improve their positions are n y to distinguish talented employees from the rest of the labor force in the organization The te re same or nearly the same compensation and package of perks because of management‘s inability n va more likely to stay This is a problem when nonproductive and productive workers receiving the th problem of attempting to keep talented members of the workforce is further complicated t to because of bounded rationality (Simon, 1976) High turnover rate is the reason for increasing ng cost in training and recruitment because the new employees don‘t have experiences and hi ep organization will spend a lot of time and cost on training them Moreover, high turnover rate has w a negative influence on the emotion of retention people n lo ad 1.2 Problem statement ju y th In 2013, Vietnamese government continues their objects: curbing inflation, stabilizing yi macro economy As a result, banking sector has faced with a difficult problem for reaching pl ua al their target on credit growth and profit According to State Bank of Vietnam, total revenue of n banking industry in 2012 is 28.600 billion dong, decreasing 50% compare to 2011 (InfoTV, va n 2013) and annual report in 2012 of Vietinbank, Vietcombank, Eximbank, Seabank showed that fu ll their employee‘s salary decreased comparing to 2011 Moreover, Nguyen Tri Hieu, expert in m oi banking finance, who said that ―in 2012, salary of banking sector is average comparing to the at nh rest sector‖ z z Thus, employees in banking sector have been faced with high pressure in work, lacking ht vb time for themselves, their family, and salary is not high, so the turnover rate in this sector is very jm k high According to survey of Towers Watson in 2012 (Company provides support services, gm human resources management, financial and risk in Vietnam) reported that the turnover rate in l.c om banking sector is highest, 16% comparing to the rest sectors A result by interviewing the human n va the first six month of 2013 is 7.3% in average n a Lu resources managers of Vietinbank showed that Vietinbank‘s voluntary turnover rate in 2012 and y te re th t to APPENDIX : SURVEY QUESTIONNAIRE ng hi PHIẾU KHẢO SÁT ep Kính chào Anh/Chị! w Tơi tên Tăng Lê Huy - học viên cao học Viện ISB, ĐHKT-HCM - nghiên cứu yếu tố động viên nhân viên làm việc ngân hàng Kết nhằm xác định yếu tố động viên giúp nâng cao gắn bó nhân viên tổ chức Rất mong Ông/Bà dành thời gian trả lời Phiếu khảo sát n lo ad y th ju Lưu ý khơng có câu trả lời hay sai, tất ý kiến phản hồi có giá trị cho nghiên cứu PHẦN I: THƠNG TIN TỔNG QUÁT yi pl al ua Anh/Chị làm việc Ngân hàng:  Vietcombank  Vietinbank n  Eximbank  Khác (xin ghi rõ):……… va n Chi nhánh (xin ghi rõ): ………………………………………………………  > năm  Quản lý  Nhân viên oi m Vị trí cơng tác Anh/Chị: ll fu Thời gian Anh/Chị làm việc ngân hàng này:  < năm  1-3 năm nh Gọi ―X‖ nơi Anh/Chị làm việc để trả lời cho câu hỏi phần sau Hoàn toàn đồng ý om l.c gm Đồng ý k jm ht vb Trung dung z Làm việc ngân hàng “X”, cảm thấy mình: Khơng đồng ý z Xin cho biết mức độ đồng ý Anh/Chị với phát biểu sau ngân hàng ―X‖ đánh dấu (√) vào ô tương ứng, với: Ơ số 1: Hồn tồn khơng đồng ý Ơ số 5: Hồn tồn đồng ý Cịn với mức độ khác đánh vào số 2, Hồn tồn khơng đồng ý at PHẦN II: THÔNG TIN VỀ CÁC YẾU TỐ ĐỘNG VIÊN … có hội thăng tiến cơng việc 2 … có hội học hỏi tiến cơng việc … có hội thăng chức … có hội phát triển nghề nghiệp … tự hoạch định cơng việc a Lu 5 4 … tự định cho công việc … có trách nhiệm công việc của người khác … tự đánh giá công việc … tự chịu trách nhiệm công việc n va n y te re th 47 t to Làm việc ngân hàng “X”, cảm thấy: ng hi … tổ chức ý đến làm việc tốt 11 … tổ chức đánh giá cao công việc 12 … tổ chức công nhận việc tơi hồn thành 13 … tổ chức thường thể nhận biết làm tốt công việc 14 … tổ chức khen ngợi làm tốt công việc … tơi thấy kết cơng việc làm 16 … thấy tự hào hồn thành tốt cơng việc giao 17 … tơi làm cơng việc có giá trị 18 … tơi ln có hội làm việc tốt 19 … cảm nhận thành đạt từ công việc làm ep 10 w n ad 15 lo Làm việc ngân hàng “X”, ju y th yi pl 21 Công việc giúp phát triển trưởng thành nghề nghiệp 22 Cơng việc giúp tơi hồn thiện kĩ khả làm việc 23 Tơi có kế hoạch làm việc cho ngân hàng khác khoảng thời gian ba năm 24 Tơi hài lịng với công việc ngân hàng X 25 Nếu tơi muốn tìm kiếm vị trí làm việc khác, tơi xem xét ngân hàng X 26 Tôi thấy có tương lai làm ngân hàng X 27 Nếu định, định tiếp tục làm việc cho ngân hàng X 28 Nếu nhận lời mời làm việc tốt từ ngân hàng khác, chấp nhận 29 Công việc mà làm quan trọng với 30 Tơi thích làm việc cho ngân hàng X n ua Tôi tự hào làm việc ngân hàng X cảm nhận tiến fu al 20 n va ll oi m at nh z z k jm ht vb gm PHẦN III: THÔNG TIN KHÁC om l.c Xin Anh/Chị cho biết số thông tin cá nhân khác nhằm phục vụ cho việc phân loại trình bày liệu thống kê: Giới tính:  Nam  Nữ Nhóm tuổi:  < 25  25-35  36-45  >45 tuổi Thu nhập bình quân/ tháng (Triệu đồng):  < tr  - < 10 tr  10 – 20 tr  > 20 tr n a Lu n va  Có gia đình & chưa có y te re Tình trạng nhân:  Độc thân  Có gia đình & có th Xin chân thành cám ơn hợp tác Anh/Chị! 48 t to PERSONNEL SURVEY QUESTIONNAIRE ng hi Dear All of You ep I'm Tang Le Huy, are studying for Master of Business Administration of ISB We're conducting research motivate factors affecting employee retention in banking industry The results identify the motivators which increase level of employee retention in organization Would you please help me take a moment to fill out the questionnaire below Please note that none of the answers right or wrong All responses are the opinions of value and you will be kept absolutely secret PART 1: GENERAL INFORATION w n lo ad ju y th yi  Vietinbank  Eximbank pl You are working on:  Vietcombank  other:……… ua al Branch: ……………………………………………………… Timeserving in this bank:  < year  1-3 year n  Manager/supervisors  officer va Working Position:  > year n Suppose ―X‖ is bank where you are working for answering the question below ll fu k jm ht vb Completely Agree z Agree z No comment at l.c 5 … The chances for advancement on this job 5 … The chance to be responsible for planning my work … The chance to make decisions on my own … The chance to to responsible for the work of others … The freedom to use my own judgment … The responsibility of my job … The opportunities for advancement on this job … The chances of getting ahead on this job … The way promotions are given out on this job n a Lu om gm Working in the bank “X” I have Disagree nh Guide replied: marked X in the box shows the extent agreed by you from to 5, in which: = Strongly Disagree, = Disagree, = Not sure you agree ordisagree / neutral, = Agree, = Strongly Agree Completely Disagree oi m PART 2: INFORMATION ABOUT MOTIVATOR FACTORS n va y te re th Working in the bank “X” I feel 49 t to ng hi … The way I am noticed when I a good job 11 … The way I get full credit for the work I 12 … The recognition I get for the work I 13 … The way they usually tell me when I my job well 14 … The praise I get for doing a good job … Being able to see the result of the work I … Being able to take pride in a job well done 17 … Being able to something worthwhile 18 … The chance to my best at all times 19 … The feeling of accomplishment I get from the job 5 ep 10 w n ju y th 16 ad 15 lo Working in the bank “X” , I yi pl 21 My job allows me to grow and develop as a person 22 My job allows me to improve my experience, skills and performance 23 I’m planning on working for another bank within a period of three years 24 Within “X” my work gives me satisfaction 25 If I wanted to another job or function, I would look first at the possibilities within “X” 26 I see a future for myself within “X” 27 If it were up to me, I will definitely be working for “X” for the next five years 28 If I received an attractive job offer from another bank, I would take the job 29 The work I’m doing is very important to me 30 I love working for X gm 5 n I am proud to work in the bank “X” because I feel I have grown as a person m ua al 20 n va ll fu oi at nh z z k jm ht vb om l.c PART 3: OTHER INFORMATION n  10 – 20  > 20 y te re  Married th Average income/ month (million VND dong): 45 va  36-45 n  Female  25-35 a Lu Gender:  Male Age :  < 25 Thank for you cooperation! 50 t to APPENDIX : CRONBACH'S ALPHA TEST RESULTS ng hi  ADVANCEMENT ep Reliability Statistics w Cronbach's N of Items n lo Alpha ad 915 ju y th yi Item-Total Statistics Corrected Item- Cronbach's Item Deleted if Item Deleted Total Alpha if Item Correlation Deleted n ua Scale Variance al pl Scale Mean if 9.68 6.561 Adv03 9.96 6.773 Adv04 9.64 6.303 848 874 808 888 788 895 m Adv02 ll 6.314 fu 9.95 n va Adv01 781 899 oi nh at  RESPONSIBILITY z z N of Items jm ht Cronbach's vb Reliability Statistics Alpha k 884 Corrected Item- Cronbach's Item Deleted if Item Deleted Total Alpha if Item Correlation Deleted Res06 13.63 7.539 730 858 Res07 13.58 7.840 688 867 Res08 13.65 7.813 700 865 Res09 13.17 7.940 690 867 y 841 te re 807 n 7.686 va 13.53 n Res05 a Lu Scale Variance om Scale Mean if l.c gm Item-Total Statistics th 51 t to  RECOGNITION ng hi Reliability Statistics ep Cronbach's N of Items Alpha w n 894 lo ad Item-Total Statistics y th Scale Variance Corrected Item-Total Cronbach's Alpha if Item Deleted if Item Deleted Correlation Item Deleted ju Scale Mean if yi 12.88 Rec13 13.00 Rec14 13.03 882 8.612 680 884 8.126 769 865 7.555 787 860 7.625 782 861 n va Rec12 692 n 12.85 7.949 ua Rec11 al 12.84 pl Rec10 fu  ll ACHIEVEMENT oi m at Cronbach's nh Reliability Statistics N of Items z Alpha z Item-Total Statistics k jm ht vb 910 Scale Variance Corrected Item-Total Cronbach's Alpha if Item Item Deleted if Item Deleted Correlation Deleted 703 905 Ach16 13.91 7.578 819 881 Ach17 14.02 8.127 721 901 Ach18 13.92 7.760 814 882 Ach19 13.86 7.513 811 882 n 8.017 a Lu 13.97 om Ach15 l.c gm Scale Mean if n va GROWTH te re  N of Items th Cronbach's y Reliability Statistics Alpha 894 52 t to ng Item-Total Statistics hi Scale Variance Corrected Item- Cronbach's Item Deleted if Item Deleted Total Alpha if Item Correlation Deleted ep Scale Mean if w Gro20 lo ad Gro22 n Gro21 7.29 2.656 815 828 7.23 2.714 830 816 7.12 2.989 733 898 y th  ju RETENTION (FIRST TIME) yi n Alpha ua N of Items al Cronbach's pl Reliability Statistics n va 778 ll fu Item-Total Statistics m Scale Variance Corrected Item- Item Deleted if Item Deleted Total oi Scale Mean if Alpha if Item Deleted 22.87 23.921 015 Ret24 22.19 18.394 761 Ret25 22.20 18.849 655 Ret26 22.27 19.186 667 725 Ret27 22.03 18.202 657 721 Ret28 22.35 24.202 -.007 835 Ret29 22.09 19.446 654 728 Ret30 22.10 17.933 731 709 z 708 725 k jm ht om l.c gm RETENTION (SECOND TIME) n y 917 te re Alpha n N of Items va Reliability Statistics Cronbach's a Lu  833 z Ret23 vb at nh Correlation Cronbach's th 53 t to Item-Total Statistics ng hi Scale Variance Corrected Item- Cronbach's Item Deleted if Item Deleted Total Alpha if Item Correlation Deleted ep Scale Mean if Ret24 w Ret25 16.717 825 894 16.54 17.016 733 906 16.61 17.051 796 898 16.36 16.584 705 912 16.42 17.699 722 908 16.43 16.026 825 893 ju y th Ret30 ad Ret29 lo Ret27 n Ret26 16.53 yi pl n ua al n va ll fu oi m at nh z z k jm ht vb om l.c gm n a Lu n va y te re th 54 t to APPENDID 3: EXPLORATORY FACTOR ANALYSIS TEST RESULTS ng hi  EFA for all scale of antecedent factors ep KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy Approx Chi-Square Bartlett's Test of Sphericity df Sig w 929 3889.158 231 000 n lo ad y th ju yi pl n ua al n va ll fu oi m at nh z z jm ht vb Adv01 Adv02 Adv03 Adv04 Res05 Res06 Res07 Res08 Res09 Rec10 Rec11 Rec12 Rec13 Rec14 Ach15 Ach16 Ach17 Ach18 Ach19 Gro20 Gro21 Gro22 Communalities Initial Extraction 1.000 859 1.000 805 1.000 802 1.000 767 1.000 811 1.000 741 1.000 639 1.000 658 1.000 647 1.000 682 1.000 674 1.000 734 1.000 765 1.000 761 1.000 650 1.000 781 1.000 699 1.000 809 1.000 796 1.000 834 1.000 888 1.000 756 Extraction Method: Principal k Total Variance Explained Initial Eigenvalues % of Variance Cumulative % 10.990 1.848 1.411 1.285 1.023 % of Variance 49.955 8.399 6.413 5.839 4.651 Cumulative % 49.955 58.354 64.767 70.606 75.257 Total 3.733 3.602 3.488 3.265 2.468 % of Variance 16.970 16.371 15.855 14.843 11.218 Cumulative % 16.970 33.341 49.196 64.039 75.257 n y te re Extraction Method: Principal Component Analysis Total va 49.955 58.354 64.767 70.606 75.257 n 49.955 8.399 6.413 5.839 4.651 a Lu 10.990 1.848 1.411 1.285 1.023 Rotation Sums of Squared Loadings om Total Extraction Sums of Squared Loadings l.c Component gm Component Analysis th 55 t to Rotated Component Matrixa ng Component hi ep w n lo ad ju y th yi ua al va 196 233 159 217 055 070 076 116 182 226 127 153 168 278 168 239 095 246 314 831 770 713 ll fu 094 167 174 200 316 134 102 242 125 200 215 088 303 215 270 833 796 785 705 221 305 264 m at nh Extraction Method: Principal Component Analysis oi 155 193 231 191 291 179 275 149 177 155 760 744 717 710 704 225 215 192 336 287 260 164 n 268 209 304 214 245 840 796 700 697 678 178 130 219 252 314 203 166 230 148 121 183 252 n 816 796 761 694 672 225 129 234 303 269 300 268 027 204 264 128 292 195 191 228 216 295 pl Ach18 Ach19 Ach16 Ach15 Ach17 Res05 Res06 Res07 Res08 Res09 Rec14 Rec11 Rec10 Rec12 Rec13 Adv01 Adv03 Adv02 Adv04 Gro21 Gro20 Gro22 Rotation Method: Varimax with Kaiser Normalization z a Rotation converged in iterations z l.c gm om Extraction Method: Principal Component Analysis Rotation Method: Varimax with Kaiser Normalization a Lu  k 365 -.317 -.274 122 822 jm ht Component Transformation Matrix 488 463 471 439 407 605 -.262 -.547 -.705 536 372 049 -.159 328 -.752 535 -.272 157 -.074 -.469 vb Component EFA for Retention n df 15 th Sig y Bartlett's Test of Sphericity 933.031 te re Approx Chi-Square 894 n Kaiser-Meyer-Olkin Measure of Sampling Adequacy va KMO and Bartlett's Test 000 56 t to Communalities hi Ret24 Extraction 783 Ret25 1.000 664 1.000 747 1.000 629 1.000 657 ep 1.000 ng Initial Ret26 w Ret27 n lo Ret29 ad Ret30 1.000 789 Component Analysis ju y th Extraction Method: Principal yi pl al Total Variance Explained ua Initial Eigenvalues Extraction Sums of Squared Loadings n Component % of Variance Cumulative % Total n va Total 4.269 71.153 71.153 557 9.278 405 6.746 316 5.267 92.444 239 3.984 96.428 214 3.572 100.000 4.269 Cumulative % 71.153 71.153 80.432 ll fu % of Variance m 87.177 oi at nh z z Extraction Method: Principal Component Analysis k jm ht vb n n va y te re a components a Lu Analysis om Principal Component l.c Extraction Method: gm a Component Matrix Component Ret30 888 Ret24 885 Ret26 864 Ret25 815 Ret29 811 Ret27 793 th extracted 57 t to APPENDID 4: RESULTS OF REGRESSION ANALYSIS ng Descriptive Statistics hi ep Mean Std Deviation N 3.2961 81421 228 ADV 3.2686 83721 228 3.3781 68672 228 3.2298 69674 228 3.4842 69047 228 3.6067 81338 228 RET w ju y th GRO ad ACH lo REC n RES yi pl al oi at nh z om n n va y te re b All requested variables entered Enter a Lu a Dependent Variable: RET l.c REC GRO 745 640 509 603 592 1.000 000 000 000 000 000 228 228 228 228 228 228 gm b k ADV, ACH, ACH 659 565 632 609 1.000 592 000 000 000 000 000 228 228 228 228 228 228 jm GRO, RES, ht Method vb a REC 688 629 587 1.000 609 603 000 000 000 000 000 228 228 228 228 228 228 z Removed m Entered ll Variables fu Variables n Variables Entered/Removed Model Correlations ADV RES 697 618 1.000 522 522 1.000 629 587 565 632 640 509 000 000 000 000 000 000 000 000 000 000 228 228 228 228 228 228 228 228 228 228 228 228 va N RET ADV RES REC ACH GRO RET ADV RES REC ACH GRO RET ADV RES REC ACH GRO n Sig (1-tailed) ua Pearson Correlation RET 1.000 697 618 688 659 745 000 000 000 000 000 228 228 228 228 228 228 th 58 t to b ng Model Summary hi Model R R Square ep 841 a Adjusted R Std Error of the Square Estimate 707 700 44581 w n a Predictors: (Constant), GRO, RES, ADV, ACH, REC lo b Dependent Variable: RET ad y th ju Model Sum of Squares df Mean Square 21.273 44.121 222 199 227 pl 106.367 ua yi Regression Residual al a ANOVA Total 150.489 F Sig 107.039 000 b n va a Dependent Variable: RET n b Predictors: (Constant), GRO, RES, ADV, ACH, REC ll fu a m Coefficients Unstandardized Coefficients Standardized Coefficients B Std Error Beta t oi Model Sig Collinearity Statistics 173 203 165 212 158 352 051 060 063 063 052 209 139 182 134 352 Tolerance -2.495 013 3.976 2.764 3.386 2.518 6.735 000 006 001 012 000 z z Condition (Constant) ADV RES REC ACH GRO a Lu Index Variance Proportions om Eigenvalue a l.c Collinearity Diagnostics Dimension 2.094 1.910 2.181 2.152 2.062 gm a Dependent Variable: RET Model 478 524 459 465 485 VIF k jm ht vb ADV RES REC ACH GRO -.431 at nh (Constant) 5.897 1.000 00 00 00 00 00 00 034 13.240 32 39 04 01 01 021 16.881 41 00 33 07 05 019 17.704 25 52 00 00 05 56 017 18.898 01 08 16 92 07 01 014 20.890 00 00 47 00 82 10 n va 05 n 27 y te re th a Dependent Variable: RET 59 t to a ng Residuals Statistics hi Minimum Mean Std Deviation N 4.7520 3.2961 68453 228 Residual -1.48095 1.37185 00000 44087 228 -2.669 2.127 000 1.000 228 -3.322 3.077 000 989 228 1.4687 w ep Predicted Value Maximum Std Predicted Value n lo Std Residual ad a Dependent Variable: RET ju y th yi pl n ua al n va ll fu oi m at nh z z k jm ht vb om l.c gm n a Lu n va y te re th 60 t to ng hi ep w n lo ad ju y th yi pl n ua al n va ll fu oi m at nh z z k jm ht vb om l.c gm n a Lu n va y te re th 61