(Luận văn) factors influencing customer retention some emprical evidences from local and foreign banks in ho chi minh city

t to UNIVERSITY OF ECONOMICS HO CHI MINH CITY ng International School of Business hi ep w n lo ad ju y th Nguyen Quang Minh yi pl ua al n Factors Influencing Customer Retention va n Some Empirical Evidences from Local and Foreign ll fu m oi Banks in Ho Chi Minh City at nh z z k jm ht vb om l.c gm MASTER OF BUSINESS (Honours) an Lu n va ey t re th Ho Chi Minh City – Year 2015 t to UNIVERSITY OF ECONOMICS HO CHI MINH CITY ng International School of Business hi ep w n lo ad y th ju Nguyen Quang Minh yi pl n ua al va n Factors Influencing Customer Retention ll fu oi m Some Empirical Evidences from Local and Foreign at nh Banks in Ho Chi Minh City z z ID: 22130039 k jm ht vb MASTER OF BUSINESS (Honours) om l.c gm SUPERVISOR: DR LE NGUYEN HAU an Lu n va ey t re th Ho Chi Minh City – Year 2015 t to ng hi TABLE OF CONTENTS ep ABSTRACT w n INTRODUCTION lo ad 1.1 Research background ju y th 1.2 Research questions and research objective 1.3 Research delimitation yi pl 1.4 Thesis Structure al ua LITERATURE REVIEW n 2.1 Theoretical review va n 2.1.1 Customers retention fu ll 2.1.2 Relationship quality m oi 2.1.3 Switching barriers at nh 2.1.3.1 Relational benefits z 2.1.3.2 Switching costs 10 z vb 2.1.3.3 Availability and attractiveness of alternatives 10 jm ht 2.2 Hypotheses Development 11 k 2.2.1 Customer satisfaction and customer retention 11 gm 2.2.2 Trust and customer retention 13 l.c 2.2.3 Commitment and customer retention 14 om 2.2.4 Switching barriers and customer retention 16 an Lu 2.3 Research Model 18 METHODOLOGY 21 ey th 3.3.1 Sample size 24 t re 3.3 Method of data collection 24 n 3.2 Measurement scales 22 va 3.1 Research design 21 t to ng hi 3.3.2 Method of data collection 25 ep 3.4 Data analysis method 26 3.4.1 Assessment of measurement of scale 26 w n 3.4.2 Multiple Regressions 27 lo ad DATA ANALYSIS AND RESULT 28 ju y th 4.1 Sample characteristics 28 4.2 Assessment of measurement scales 29 yi pl 4.2.1 Cronbach Alpha 29 al ua 4.2.2 Exploratory factor analysis 32 n 4.2.2.1 EFA for independent factors 32 va n 4.2.2.2 EFA for dependent factors 34 fu ll 4.3 Hypothesis testing 35 m oi 4.3.1 Testing relationship of independent factors & dependent factor 35 nh 4.3.2 Testing Assumption of multiple Regressions 37 at z 4.3.3 Evaluate and test the relevance of the model 41 z ht vb 4.4 Comparing foreign banks and local banks 43 k jm IMPLICATION AND CONCLUSION 46 l.c gm 5.1 Summary 46 5.2 Conclusion 47 om 5.3 Recommendation 49 an Lu 5.4Limitation and further research directions 51 n va ey t re th t to ng hi APPENDIX 1: EFA RESULT FOR FIRST TIME RUNNING 73 ep APPENDIX 2: EFA RESULT FOR SECOND TIME RUNNING 74 w APPENDIX 3: KMO & BARTLETT‟S TEST FOR THIRD TIME RUNNING 75 n lo ad APPENDIX 4: EFA FOR INDEPENDENT FACTOR 76 y th ju APPENDIX 5: MULTIPLE REGRESSION 77 yi pl n ua al n va ll fu oi m at nh z z k jm ht vb om l.c gm an Lu n va ey t re th t to ng hi LIST OF FIGURES ep Figure 1: Research model 19 w n Figure 2: Research process 21 lo ad Figure 3: Revised research model 37 ju y th yi pl LIST OF TABLES al n ua Table 3.1: Summary of scales for constructs in the model 23 n va Table 4.1: Sample characteristic 28 fu ll Table 4.2: Reliability Analysis 30 m oi Table 4.3: Revised Reliability Analysis 32 nh at Table 4.4: EFA result for independent factors 33 z z ht vb Table 4.5: EFA result for dependent factor 35 k jm Table 4.6: Result of Pearson Correlation 35 l.c gm Table 4.7: Hypothesis testing result 38 Table 4.8: Multiple Regressions results of Customer retention to independent 41 om Table 4.9: Conclusion 42 an Lu Table 4.10: Comparing factors between local banks and foreign banks 44 n va Table 4.11: Relationship between Respondents‟ Likelihood of Staying and Bank 45 ey t re th t to ng hi ABSTRACT ep w Customer retention is an important element of any banking strategy in today‟s n lo increasingly competitive environment To achieve the customer retention strategy, ad some elements are examined Among of them are relationship quality and switching y th barriers Relationship quality is often seen as the key factor for business building a ju yi successful and long-term relationship In the context of high competitive market pl place nowadays, relationship quality is often viewed as a central determinant of al n ua customer retention However, the few empirical investigations in this area indicate va that relationship quality is only a necessary condition, not enough to keep customer n stay with the business One more factor is given to discuss in this study is switching fu ll barriers Together with relationship quality, we explore how switching barriers help m oi the services suppliers keep their existing customers from changing to another at nh competitor z This research examined these factors in the context of banking industry in Vietnam, z ht vb a developing country with penetration of many foreign banks through the process of jm integrate WTO Customers nowadays have many options to choose which bank they k want to cooperate Therefore, both foreign banks and local banks have to develop om l.c gm their strategies to retain their customers and increase their advantages an Lu n va ey t re th t to ng hi CHAPTER 1: INTRODUCTION ep This chapter provides a background of information on the present study and w its objectives and purposes It is divided into four sections The first section presents n lo background of the research, the second part presents the problem statement and its ad objectives, and the third part presents the scope of study and the final part present y th ju the thesis structure yi 1.1 Research Background pl ua al In today‟s highly competitive environment, losing customer is very costly Researcher concluded that it can be ten times more expensive to attract a customer n n va than to retain an existing one, and the cost of bringing new customer to the level of ll fu profitability as the lost one is up to 16 times more (Lindgreen et al., 2000) oi m Understanding thoroughly these difficulties, companies are more focusing their nh strategic effort on customer retention (Berry, 1983; Fornell, 1992) Many studies at have been conducted for this issue, and many opinions have been explored for which z z factors influencing customer retention Obviously, a key component in any customer vb retention program is relationship quality (Oliver, 1997) Relationship quality can be ht k jm defined as customers‟ perception of how well the relationship responds to his/her gm expectations, aims and demands (Jarvelin & Lehtinen, 1996) From that, they would l.c consider about continuing or terminating with current suppliers There are many om factors that constitute relationship quality After reviewing the empirical and an Lu theoretical literatures, we identified three elements which are commonly claimed to represent as significant components of perceived relationship quality: customer ey th the management need to consider other factors helping them to achieve that t re However, for the purpose of keeping customer staying with business longer, n commitment (Adams & Jones, 1997; Lund, 1985) va satisfaction (Hendrick, 1988), trust (Rempel, Holmes & Zanna, 1985) and t to ng hi objective In recent studies, switching barriers is a significant element should be ep mentioned Follow Jones et al (2000) switching barriers is any factor that makes it difficult or costly for customers to change supplier Thus, if company desires to w n develop long-lasting relationships with their customers, it is important for them to lo ad understand why dissatisfied customers may or may not switch to other suppliers and ju y th how the presence of switching barriers can affect the evaluation of service recovery effort (Yanamandram & White, 2006) In case, businesses know which dimensions yi pl are important to customer‟s decision about switching to competitors they can tailor al ua their products to respond more specifically to customer needs Responding n appropriately to customer needs mean that company is likely to retain more va n customers and build brand loyalty amongst existing customers Therefore, in an fu ll effort to preclude switching and harden long-term working relationships, business m oi suppliers nowadays find many methods to make customers feel satisfied, reinforce at nh their trust and commitment in customers‟ perception and strengthen exit barriers to z effectively retain buyers This research is to identify the interaction effects of z ht vb relationship quality and switching barriers to customers‟ awareness and decision jm We test our model in a continuous purchasing setting, the banking sector k Banking industry is a modern services industry Especially, becoming a membership gm of World Trade Organization (WTO) requests Vietnam opening out to foreign l.c investors as their liberalization requirements (Nguyen, 2008) Therefore, the number om of foreign-owned financial institutions has been steadily increased Until now, an Lu foreign banks have been growth to 49 branches, which mostly concentrated in Ho th more professional services, and enjoy the network across many countries On the ey their Vietnamese counterparts They have better organizational structures, offer t re banking market, foreign banks, however, are at an advantage in comparison with n year Vietnam joined WTO, were foreign owned banks In this highly competitive va Chi Minh city and Hanoi This is an impression number compared with 2007, the t to ng hi other hand, local banks also have their own specific strength such as widespread ep braches, familiar with Vietnamese, and support from State Bank With more and more diversified customer‟s demand nowadays, banks have to renew themselves and w n find more effective solutions to attract new customers as well as retain the current lo ad ones That makes the competition between the local banks and foreign banks ju y th become more fierce and intensive to stand firm in competitive marker-place Researching about above factors and how they affect to customer retention greatly yi pl contributes to bank‟s strategy al ua 1.2 Research question and research objective n The objective of this study isto identify the effect of relationship quality and va n switching barriers on customer retention Particularly: fu ll - How many factors constituting relationship quality? How does each of them oi m affect customer retention? nh - How many factors constituting switching barriers? How does each of them at z affect customer retention? z jm 1.3 Research delimitation ht vb - Which factor will influence customer retention most? k This study focuses on retail customers at local banks and foreign banks in Ho gm Chi Minh City The candidates for this research usually use banking services on l.c routine life Young people under 18 years old who not have much income and om can not make individual financial decisions are not chosen to be respondent Hence, an Lu this sample can not represent for Vietnam nationwide Furthermore, there are four ey th This thesis is organized as follows: t re 1.4 Thesis structure n explored va factors including satisfaction, trust, commitment, and switching barriers being 63 t to ng hi Schurr, P H., & Ozanne, J L (1985) Influences on Exchange Processes: Buyers' ep Preconceptions of a Seller's Trustworthiness and Bargaining Toughness Journal of Consumer Research, 11 (3), 939-53 w n lo Schneider, B., & Bowen, D E (1999) Understanding Customer Delight and ad Outrage Sloan Marketing Review, 41 (1), 35-46 ju y th Sengupta, S., Krapfel, R E., & Pusateri, M A (1997) Switching costs in key yi pl account relationships Journal of Personal Selling & Sales Management, n ua al 17(4), 9-16 n va Sharma, N., & Patterson, P (2000) Switching costs in key account relationships ll fu International Journal of Service Industry Management, 11(5), 470-90 oi m Storbacka, K., Strandvik, T., & Grönroos, C., (1994) Managing Customer Relationships for Profit: The Dynamics of Relationship Quality International nh at Journal of Service Industry Management, 5(5), 21-38 z z Tabachnick, B G., & Fidell, L S (2001) Using Multivariate Statistics Boston: ht vb Allyn and Bacon gm retention Journal of Marketing Research, 38(2), 262-8 k jm Thomas, J S (2001) A methodology for linking customer acquisition to customer l.c Thomas, J S (2009) “Trust” in customer relationship: addressing the impediments Consumer Research, 346–349 om in research Proceedings of Asia-Pacific Conference on Advances in an Lu Tsoukatos, E., & Rand, G K (2006) Path analysis of perceived service quality, th 24(3), 7-22 ey marketing and purchasing management European Journal of Marketing, t re Turnbull, P W (1990) A review of portfolio planning models for industrial n 16 va satisfaction and loyalty in the Greek insurance Managing Service Quality, 64 t to ng hi Va´zquez-Carrasco, R., & Foxall, G R (2006) Positive vsnegative switching ep barriers: the influence of service consumers‟ need for variety Journal of Consumer Behavior, 5(4), 367-79 w n Weinstein, A (2002) Customer-specific strategies-Customer retention: A usage lo ad segmentation and customer value approach Journal of Targeting, ju y th Measurement and Analysis for Marketing, 10, 259-268 Wirtz, B., & Lihotzky, N (2003) Customer retention management in the B2C yi pl electronic business Long Range Planning, 36(6), 517-532 doi:10.1016/ ua al j.lrp.2003.08.010 n Woo, K., & Ennew, C T (2004) Business-to-business relationship quality va n European Journal of Marketing, 38 (9/10), 1252-1271 fu ll Yanamandram, V., & White, L (2006) Switching barriers in business-to-business m oi services: a qualitative study International Journal of Service Industry at nh Management, 17(2), 158-92 z Yau, O H M., McFetridge, P.R., Chow, R P M., Lee, J S Y., Sin, L Y M., & z k jm Journal of Marketing, 34(9/10), 309- 566 ht vb Tse, A C B (2000) Is relationship marketing for everyone? European om l.c gm an Lu n va ey t re th 65 t to ng hi QUESTIONNAIRE ep Hello everyone, w My name is Nguyen Quang Minh, student in MBUS program of International School of Business (ISB) – University of Economic Ho Chi Minh city Currently, I am doing graduating thesis related to quality of banking services Your responses/ comments would be helpful information for my research n lo ad ju y th yi Kindly take some minutes to finish this questionnaire All the response will be used for this research Thank you very much and best wishes for you pl al n ua PART 1: GENERAL INFORMATION ☐ Female ll fu oi m at nh z z k jm ht vb an Lu ☐ >=4 om l.c gm ☐ Bachelor degree ☐ Master or Doctor degree Number of banks using: ☐1 ☐2 ☐3 n va Gender: ☐ Male Age ☐ 18-22 ☐ 23-29 ☐ 30-39 ☐ 40-49 ☐ >50 Level of education: ☐ High School graduated ey th ☐ Foreign bank t re ☐ Local bank n va Your bank which you usually have transaction:……………………… 66 t to ng hi ☐ Joint venture bank ep ☐ Other: w From now on, we will call this bank is Bank X n lo ad ju y th PART 2: CUSTOMER’S FEEDBACK yi pl Totally disagree Disagree Neutral Agree Totally Agree n ua al n va There are some statements about bank X Depend on your evaluation, oi m sticking (√) in the appropriated blank ll fu please choose the answer from totally disagree to totally agree by at nh Your evaluation with banking services: Overall, I am happy with bank X Bank X meets my expectations I think I did the right thing when I joined bank X Your evaluation with banking reliability I have great confidence in bank X‟s services Promises made by bank X are reliable Bank X treats me in an honest way in every transaction Your feeling about bank X I take pleasure in being a customer of bank X z k jm ht vb Bank X is capable in providing banking service to me ey th I have feelings of trust toward bank X t re 11 n There is a presence of reciprocity in my relationship with bank X va 10 an Lu Bank X is the operator that takes the best care of their customers om l.c gm z 67 t to ng hi ep It would be too costly for me to leave Bank X, therefore I stay 13 One of the major reasons I continue to bank with Bank X is that leaving would require considerable personal sacrifice 12 w I stay with Bank X because the costs of changing exceed the benefits Your obligation/ commitment with bank X Our attachment to bank X is mainly based on the similarity of our values n lo 14 ad ju y th 15 yi The reason I refer bank X to others is because of what it stands for, its value 17 What bank X stands for is important to me 18 I feel an obligation to remain with bank X 19 I owe a great deal to bank X pl 16 n ua al n va fu ll The benefits bank X gave to you m Staying allows me to get discounts and special deals 21 Staying saves me money 22 23 Staying allows me to get extra service benefits Your consideration about changing banking services In general it would be a hassle changing banks 24 It would take a lot of time and effort changing banks 25 26 For me, the costs in time, money, and effort to switching banks are high If I switch to another bank, I am concerned about negative financial outcomes Your acknowledge about the alternatives 27 All banks are the same 28 I am not sure if other banks offer better services 29 Other banks not offer better services I know other banks offer better services but I prefer to stay with bank X oi 20 at nh z z k jm ht vb om l.c gm an Lu n va ey t re 30 th 68 t to ng hi How likely is that you continue your relationship with bank X? ep 31 Within the next six months? w lo Within the next two years? ad 33 Within the next one year? n 32 ju y th Thank you for your feedback yi pl n ua al n va ll fu oi m at nh z z k jm ht vb om l.c gm an Lu n va ey t re th 69 t to ng hi PHIẾU KHẢO SÁT DỊCH VỤ NGÂN HÀNG ep Chào Anh/Chi, w n Tôi tên Nguyễn Quang Minh, học viên cao học ngành Quản Trị Kinh Doanh lo ad viện Đào Tạo Quốc Tế - trường Đại học Kinh Tế Tp HCM Hiện làm luận văn ju y th thạc sĩ có liên quan đến chất lượng dịch vụ ngành ngân hàng Những ý kiến bạn thơng tin hữu ích giúp tơi hồn thành luận văn tốt yi pl Rất mong Bạn dành thời gian để trả lời Phiếu khảo sát Xin chân thành cám al ua ơn chúc Bạn sức khỏe, thành công hạnh phúc! n Lưu ý khơng có câu trả lời hay sai, tất ý kiến phản hồi có giá n va trị cho nghiên cứu ll fu om an Lu n va ey t re th ☐Sau đại học l.c ☐Cao đẳng – Đại học gm ☐Phổ thông k ☐Trung học jm Trình độ học vấn: ht ☐>50 vb ☐40-49 z ☐30-39 z ☐23-29 ☐Nữ at ☐18-22 nh Độ tuổi: oi Giới tính bạn: ☐ Nam m PHẦN 1: THÔNG TIN TỔNG QUÁT 70 t to ng hi Số lượng ngân hàng bạn sử dụng/ giao dịch: ☐1 ep ☐2 ☐3 w n lo ☐>=4 Ngân hàng bạn thường xuyên sử dụng/ giao dịch:………………… ☐Ngân hàng TMCP nước ad ju y th yi ☐Chi nhánh Ngân hàng nước pl n ☐Khác ua al ☐Ngân hàng Liên Doanh va (Từ trở đi, gọi Ngân hàng X) n ll fu oi m PHẦN 2: ĐÁNH GIÁ CỦA KHÁCH HÀNG z z vb k ý đến hoàn toàn đồng ý: jm ht Bạn, xin đánh dấu (√) vào ô tương ứng từ hoàn toàn không đồng ey th Những cam kết thực ngân hàng X đáng tin cậy xác thực t re Tôi tin tưởng vào dịch vụ ngân hàng X n Độ tin cậy bạn với ngân hàng X va Tơi cho đắn lựa chọn ngân hàng X an Lu Đối với dịch vụ ngân hàng X bạn sử dụng: Nhìn chung, tơi hài lịng với ngân hàng X Ngân hàng X đáp ứng mong đợi om l.c gm Hồn tồn khơng đồng ý Khơng đồng ý Trung dung Đồng ý Hoàn toàn đồng ý at nh Sau phát biểu ngân hàng X Tùy vào mức độ tán thành 71 t to ng hi Ngân hàng X giỏi việc cung cấp dịch vụ cho khách hàng ep Ngân hàng X đối đãi với cách trung thực giao dịch w Cảm nhận bạn ngân hàng X n lo Tôi cảm thấy vui trở thành khách hàng ngân hàng X ad Ngân hàng X ln chăm sóc tốt cho khách hàng y th ju 10 Tôi ưu tiên đặt ngân hàng X lên đầu lựa chọn giao dịch yi 11 Tôi cảm thấy tin cậy ngân hàng X 12 Sẽ tốn cho việc chuyển giao dịch sang ngân hàng khác pl al n ua 13 Nhiều lợi ích cá nhân chuyển giao dịch sang ngân hàng khác, lý quan trọng khiến tơi lại 14 Chi phí chuyển đổi lớn lợi ích thu được, tơi tiếp tục giao dịch với ngân hàng X n va fu ll Nghĩa vụ bạn với ngân hàng X 15 Nguyên nhân khiến tơi thích ngân hàng X ngân hàng khác giá trị mà mang lại oi m at nh 16 Các giá trị mà ngân hàng X mang lại tương thích với kỳ vọng z z 17 Các giá trị mà ngân hàng X mang lại quan trọng ht vb k gm 19 Tơi cịn nợ ngân hàng X khoản lớn jm 18 Tôi tiếp tục giao dịch với ngân hàng X nghĩa vụ ký an Lu n va ey t re th Suy nghĩ bạn việc đổi dịch vụ ngân hàng 23 Tóm lại, việc thay đổi ngân hàng điều rắc rối om l.c Những ưu đãi có bạn tiếp tục giao dịch với ngân hàng X 20 Tiếp tục trì giao dịch với ngân hàng giúp tơi có nhiều miễn giảm ưu tiên 21 Tiếp tục trì giao dịch với ngân hàng giúp tơi tiết kiệm chi phí 22 Tiếp tục trì giao dịch với ngân hàng giúp tơi có nhiều khuyến dịch vụ đặc biệt 72 t to ng hi 24 Thay đổi ngân hàng tốn nhiều thời gian công sức ep 25 Thời gian, chi phí cơng sức cho việc thay đổi dịch vụ ngân hàng cao w 26 Nếu chuyển sang ngân hàng khác, lo lắng tổn thất tài có n lo ad ju y th Nhận xét bạn ngân hàng khác thị trường 27 Dịch vụ ngân hàng giống giống yi 28 Tơi khơng ngân hàng khác có ưu đãi nhiều dịch vụ tốt hay không 29 Các ngân hàng khác khơng có nhiều dịch vụ tốt pl ua al n 30 Tôi biết ngân hàng khác ưu đãi nhiều dịch vụ tốt hơn, tơi thích giao dịch với ngân hàng X va n Bạn dự định tiếp tục trì dịch vụ ngân hàng vòng: ll fu at nh z 33 năm oi 32 năm m 31 tháng z vb k jm ht Xin chân thành cám ơn chúc Bạn sức khỏe, thành công hạnh phúc! om l.c gm an Lu n va ey t re th 73 t to ng hi APPENDIX 1: EFA RESULT FOR FIRST TIME RUNNING ep Rotated Component Matrixa w n lo ad pl ua al 472 n 649 643 oi m 417 ll 739 599 fu Noc17 Emc10 n va 787 776 z jm ht 770 vb 748 z Swc25 Reb20 at 845 826 nh Swc23 Swc24 k 764 657 a Lu 754 om Aaa27 Cam12 l.c 873 774 gm Aaa28 Aaa29 706 703 616 n n va Cam14 Cam13 754 744 Noc15 Noc16 Reb22 Reb21 yi Emc8 Emc9 ju Cus2 Cus3 y th Cus1 767 Component 457 th Trt6 y 840 783 te re Trt4 Trt5 74 t to ng hi Kaiser-Meyer-Olkin Measure of Sampling Adequacy Bartlett's Test of Approx Chi-Square Sphericity df ep 868 2478.031 w n 276 lo Sig .000 ad ju y th APPENDIX 2: EFA RESULT FOR SECOND TIME RUNNING yi Rotated Component Matrixa pl ua al n Component oi m at nh k jm 786 a Lu Noc17 Reb22 om 823 817 l.c Noc16 Noc15 gm 755 ht Aaa27 Cam13 vb 839 786 z Aaa28 Aaa29 769 769 642 n n va Reb20 Reb21 414 z 548 463 ll Cam12 Cam14 fu 794 782 n Swc23 Swc25 va Swc24 837 711 th Cus1 Trt5 y 782 746 te re Cus3 Cus2 818 75 t to ng hi ep Trt4 Trt6 705 569 w n lo Extraction Method: Principal Component Analysis Rotation Method: Varimax with Kaiser Normalization ad y th ju APPENDIX 3: KMO & BARTLETT’S TEST FOR THIRD TIME RUNNING yi pl KMO and Bartlett's Test al Kaiser-Meyer-Olkin Measure of Sampling Adequacy Bartlett's Test of Approx Chi-Square Sphericity df n ua 836 n va 1799.624 153 fu 000 ll Sig oi m at nh z z Total % of Variance Cumulative % 6.095 33.863 33.863 6.095 33.863 33.863 2.137 11.871 45.734 2.137 11.871 1.719 9.550 55.284 1.719 9.550 1.368 7.600 62.884 1.368 7.600 62.884 1.087 6.038 68.922 1.087 6.038 68.922 1.009 5.604 74.527 1.009 5.604 74.527 ht Total %of Variance vb Cumulative % jm Component Initial Eigenvalues Extraction Sums of Squared Loadings k gm 45.734 l.c 55.284 om n a Lu n va y te re th 76 t to ng hi ep Appendix 4: EFA FOR INDEPENDENT FACTOR w KMO and Bartlett's Test n lo ad Kaiser-Meyer-Olkin Measure of Sampling Adequacy Bartlett's Test of Approx Chi-Square Sphericity df 610 y th 212.359 ju yi pl Sig .000 n ua al n va Total Variance Explained Initial Eigenvalues oi Cumulative % % of Variance Total nh % of Variance m Compon ent Total ll fu Extraction Sums of Squared Loadings 2.112 70.400 at 70.400 z z k jm ht vb 2.112 70.400 70.400 629 20.956 91.357 259 8.643 100.000 Extraction Method: Principal Component Analysis Cumulative % gm Component Matrixa l.c om Component Ret33 760 n 835 va Ret31 n 916 a Lu Ret32 y te re th 77 t to ng hi ep APPENDIX 5: MULTIPLE REGRESSION w Model Summary n lo Adjusted R Square ad Model R Square 806a 649 638 41422 ju y th R Std Error of the Estimate a Predictors: (Constant), TR, SW, AA, RE, CM, CS yi pl ua al ANOVAb n Sum of Squares Regression 61.887 Residual 33.457 Total 95.344 F 10.315 195 172 n df va Model Mean Square Sig .000a 60.117 ll fu m oi 201 at nh a Predictors: (Constant), TR, SW, AA, RE, CM, CS b Dependent Variable: RT Coefficientsa z z Beta t Sig .794 428 Tolerance gm 281 Collinearity Statistics k (Constant) 223 Std Error jm B Standardized Coefficients ht Model vb Unstandardized Coefficients VIF CS 549 054 568 10.214 000 CM 052 053 054 991 323 610 SW 085 038 106 2.248 026 814 1.228 RE 153 047 178 3.284 001 614 1.628 AA -.100 042 -.108 -2.381 018 869 1.150 TR 036 061 031 591 555 654 1.530 1.718 om l.c 582 1.639 n a Lu n va y te re th