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TON DUC THANG UNIVERSITY FACULTY OF BUSINESS ADMINISTRATION INTERNATIONAL BUSINESS REPORT BUSINESS RESEARCH METHODS THE INFLUENCE OF E-SERVICE QUALITY ON CUSTOMER SATISFACTION AND LOYALTY IN THE BANKING INDUSTRY IN COVID 19 PANDEMIC IN VIETNAM Lecturer: TRAN THI VAN TRANG Group: – Shift: (Tuesday) Class: 20K70401 Course: 24 i Ho Chi Minh City, 14 May 2022 ii LIST OF GROUP MEMBERS Full name Nguye n Kim Long (Leade r) Student ID 720K092 Duty ABSTRACT ACKNOWLEDGEME NT Chapter (1.1– 1.1.1 – 1.1.2) Chapter (3.5 – 3.6) Chapter (4.4) Chapter (5.3) SYNTHESIS REPORT CONCLUSION Tran 720K002 Chapter My Buu (1.5 – 1.5.1 – 1.5.2) Chapter (2.2 – 2.2.1 – 2.2.2) Chapter (3.4) Chapter (4.3 – 4.3.1 – 4.3.2) Chapter (5.2) RUN SMARTPLS Huynh 720K015 Chapter Ngoc (2.3 – 2.3.1 – 2.3.2) Mai Chapter Thy (3.1 – 3.2) Chapter (5.1) PowerPoint Nguye 720K071 Chapter n Dieu (1.4) Linh Chapter (2.1) Chapter (3.3) Chapter (4.1) Evaluati on 100% Signature 100% Signed 100% Signed 100% Signed Signed iii Tran Hong Ky 719V012 PowerPoint Chapter (1.2 – 1.2.1 – 1.3 – 1.3.1 – 1.3.2) Chapter (3.3) Chapter (4.2 – 4.2.1 – 4.2.1.1 – 4.2.1.2 – 4.2.2 – 4.2.2.1 – 4.2.2.2) Chapter (5.2) 100% Signed iv COMMENT FOR LECTURER ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………… ……………………………………………………………… ……………………………………………………………………………………………………… ACKNOWLEDGEMENT First and foremost, our team wishes to express their heartfelt gratitude to Ms Tran Thi Van Trang Ms Trang was the one who provided us with unwavering assistance and careful direction throughout our research and survey on the topic of "The influence of e-service quality on customer satisfaction and loyalty in the banking industry in Covid 19 pandemic in VietNam." She was a passionate help and provided specific guidance on the direction of v development, the direction of the study of the subject, as well as guidance on the appropriate approach, presentation of content, to go in and analysis of the research laid out, based on her valuable expertise and research experience That is why we can conduct our survey and research in the most efficient manner feasible Second, we would like to express our gratitude to Ton Duc Thang University's Department of Business Administration for providing us with the opportunity to research and study the subject Nonetheless, due to time constraints and a lack of practical expertise, we were bound to be defective and anxious to obtain feedback from lecturers and friends Thank you a lot Research Team vi Document continues below Discover more from: Business research… Đại học Tôn Đức… 16 documents Go to course Exercise - Chapter 110 Business research… 100% (1) Quizz phần H2 hello Business research… None Báo cáo cuối kì ppnc - ppnc Business research… None 4Ps Sustainability 45 Report 2021 EN… Business research… None Final Report (PDF) 77 - Trường Đại học Tô… Business research… None Brmmmm - Trường ABSTRACT 19 Đại học Tôn Đức… Business None research… Online banking services in Vietnam are currently developing quite strongly, especially in cities and urban areas Due to the outstanding features of E Banking services such as time-saving, cost-saving, convenient transaction, etc., commercial banks in Vietnam have been interested in developing this type of service and have the right policy appropriate administrative reform policy to meet the development trend Aware of this, each bank tries to design, step by step perfect the E Banking service and deploy strong promotions and communication programs to attract customers It helps banks reduce costs and risks, save time for customers and banks, in line with the general development trend of the entire commercial banking system, and keep pace with the development of public science This article focuses on analyzing and understanding the correlation between customer loyalty to ebanking services from central banks and private banks across Vietnam during the Covid-19 pandemic Based on collecting data from customer groups from universities, we will analyze and come up with appropriate strategies so that specific banks in Vietnam can upgrade their ebanking services to retain old customers as well as collect more potential customers during this covid pandemic TABLE OF CONTENT vii CHAPTER 1: INTRODUCTION 1.1 Introduction 1.1.1 Background: 1.1.2 Specific problem : 1.2 Problem statement .3 1.2.1 Reason for choosing the topic 1.3 Purpose of research 1.3.1 Theoretical purpose 1.3.2 Practical purpose .4 1.4 Research question 1.5 Significance of research 1.5.1 Theoretical Significance 1.5.2 Practical significance .5 CHAPTER 2: LITERATURE REVIEW 2.1 Research concepts & definitions 2.2 Previous research 2.2.1 Summary key paper: .8 2.2.2 Summary support paper: 2.3 Proposal models and hypothesis 2.3.1 Research model 2.3.2 Hypothesis 10 CHAPTER 3: RESEARCH METHODOLOGY 14 3.1 Research design 14 3.2 Questionnaires design 14 3.3 Measurement scale .15 3.4 Sampling .19 3.5 Collection method .20 3.6 Data analysis method 20 CHAPTER 4: DATA ANALYSIS 21 viii 4.1 Descriptive Statistics 21 4.2 Scale measurement/model 23 4.2.1 Reliability testing 23 4.2.2 Assessing the accuracy of the model 27 4.3 Structure model 29 4.3.1 The overall coefficient defines R Square .29 4.3.2 Path coefficient 30 4.4 Results of verifying research hypotheses 33 CHAPTER 5: CONCLUSION, AND RECOMMENDATIONS/ LIMITATIONS .36 5.1 Research summary .36 5.2 Recommendations 38 5.3 Limitations and directions for future research 40 CONCLUSION .41 REFERENCES 42 LIST OF TABL Table Measurement scale 15 Table Parameters of variables in Smart Pls 21 Table Demographic characteristics based on 274 samples 21 Table Conformity results of factors 23 Table Conformity results of factors 25 Table Discriminant value of factors according to Fornell & Larcker .28 Table R - Square 30 Table Path Coefficients (Bootstrapping) 31 Table Path Coefficients include T Statistics (Bootstrapping) .32 Table 10 Results of verifying research hypotheses 34 LIST OF FIGURE Figure Conceptual framework .8 Figure Research Model by Authors Synthesized .10 Figure Model analysis results 35 ix Web design (WD) -> E-banking customer Satisfaction (ES) E-banking customer Satisfaction (ES) -> Ebanking customer Loyalty (EL) 3.816 0.000 0.054 3.225 0.001 0.058 Table Examines the model's relationship both directly and indirectly using path coefficients, standard deviation, and Tstatistics values Table Path Coefficients include T Statistics (Bootstrapping) T The Effect Statistic s Reliability (RE) -> E-banking customer Satisfaction (ES) Private and Security (PS) -> E-banking customer Satisfaction (ES) Web design (WD) -> E-banking customer Satisfaction (ES) Customer service and Support (CSS) -> Ebanking Satisfaction (ES) Reliability (RE) -> E-banking customer Loyalty (EL) Private and Security (PS) -> E-banking P Values F Squar e 7.346 0.000 0.29 1.761 0.079 0.011 3.816 0.000 0.054 9.657 0.000 0.442 2.441 0.015 0.021 0.646 0.519 0.001 41 customer Loyalty (EL) Web design (WD) -> E-banking customer Loyalty (EL) Customer service and Support (CSS) -> Ebanking customer Loyalty (EL) E-banking customer Satisfaction (ES) -> Ebanking customer Loyalty (EL) 4.277 0.000 0.069 3.964 0.000 0.058 3.225 0.001 0.058 Table shows that the direct and indirect associations have Tstatistics values larger than or equal to 1.96 and P-values less than 0.05, respectively As a result, the hypotheses from H1 through H4; from H5 to H8, and H9 have been proven to be quite dependable, and the following data has been used to test them: Hypothesis H1 is Reliability (RE) affected on E-banking Customer Satisfaction (ES) with T-statistics of 7.492 and path coefficient of 0.000; similar in hypothesis H2 is The remarkable relationship between Privacy and Security (PS) and E-banking Satisfaction (ES) with T-statistics of 1.797 and path coefficient of 0.073 (reject); hypothesis H3 is An important relationship between Web design (WD) and E-banking customer Satisfaction (ES) with T-statistics of 3,692 and path coefficient of 0.000; hypothesis H4 is A meaningful connection between Customer service and Support (CSS) and E- 42 banking customer Satisfashion (ES) has a T-statistic of 9.922 and a path coefficient of 0.000 ; Hypothesis H5 is A strong relationship between Reliability (RE) and E-banking customer Loyalty (ES) has T-statistics of 2.466 and path coefficient is 0.014 ; Hypothesis H6 is A considerable link between Privacy and Security (PS) and E-banking customer Loyalty (EL) has a T-statistics of 0.613 and a path factor of 0.540 (reject) ; hypothesis H7 is A positive impact was observed between Web design (WD) and E-banking customer Loyalty (EL) has a T-statistics of 4.316 and a path coefficient of 0.000 ; hypothesis H8 is A massive relation between Customer service and Support (CSS) and E-banking customer Loyalty (EL) has a T-statistics of 0.613 and a path coefficient of 0.000 ; Hypothesis H9 is E-banking customer Satisfaction (ES) impact on E-banking customer Loyalty (EL) with T-statistics of 3.441 and path coefficient of 0.001 In conclusion, all hypotheses from H1-H4 and H5-H8; H9 are reliable and accepted while hypothesis H2 and H6 are unreliable and rejected 4.4 Results of verifying research hypotheses The outcomes of our study paper's hypothesis testing are shown in the table below: Table 10 Results of verifying research hypotheses Hypothe sis Content Result 43 H1 H2 H3 Reliability (RE) affected on E-banking Customer Accept Satisfaction (ES) ed The remarkable relationship between Privacy and Rejecte Security (PS) and E-banking Satisfaction (ES) d An important relationship between Web design Accept (WD) and E-banking customer Satisfaction (ES) ed A meaningful connection between Customer H4 service and Support (CSS) and E-banking customer Satisfashion (ES) H5 H6 H7 H8 H9 Accept ed A strong relationship between Reliability (RE) and Accept E-banking customer Loyalty (ES) ed A considerable link between Privacy and Security Rejecte (PS) and E-banking customer Loyalty (EL) d A positive impact was observed between Web Accept design (WD) and E-banking customer Loyalty (EL) ed A massive relation between Customer service and Accept Support (CSS) and E-banking customer Loyalty (EL) ed E-banking customer Satisfaction (ES) impact on E- Accept banking customer Loyalty (EL) ed (Source: Authors Synthesized) 44 Based on the analysis results in the preceding sections, all of the remaining hypotheses are supported, with the exception of H2 and H6, which are rejected We used the P-value to test the hypothesis and determine its reliability in this section, assuming that when p = 0.05, the significance level, the probability that the conclusion is false (unreliable) is 5% and the probability that the conclusion is correct (reliable) is 95%, and any hypothesis with a probability less than 95% is considered unreliable Within the context of this study, H2 is rejected because of T-statistics of 1.797 and path coefficient of 0.073 and H6 is also rejected because it T-statistics of 0.613 and a path factor of 0.540 Another explanation why these two hypothesis is rejected is that when users send personal information to the bank, some users are concerned that their information may be stolen and used for harmful purposes, while others are unconcerned that their information will be utilized to improve the personal experience of their banking application As a result, this topic will be discussed in greater depth in Chapter below, and the following is the complete model once the research findings are available: 45 Figure Model analysis results 46 CHAPTER 5: CONCLUSION, AND RECOMMENDATIONS/ LIMITATIONS In this chapter 5, our group will draw conclusions based on research findings and give recommendations, as well as discuss limitations in the implementation process, in order to make future research more successful and better 5.1 Research summary This study will provide the foundation for a database of customer behavior when using e-services (online banking services) during the pandemic As a result, it can assist in limiting issues and improving service quality to meet the expectations of customers in the banking industry In general, the data in chapter four has been thoroughly examined, and below is a summary of the study conclusions reached by my group, specifically as follows: RE, PS, WD, CSS and EBS all have an impact on E-banking Loyalty (EBL), with the E-banking satisfaction factor having greatest impact (28.7 percent) compared to Customer service and Support (23.8 percent), Web Design (21.7 percent), Reliability (14.3 percent ) and Privacy and Security (2.7 percent) (rejected) Moreover, the engagement factor is influenced by the components that our group classifies as independent variables: Reliability (RE), Privacy and Security (PS), Web Design (WD) and Customer service and Support (CSS) The CSS factor has the most impact on EBS (46.0 percent), followed by the second influencing factor RE (39.9 percent), WD (15.8 percent), and the last variable has the lowest 47 impact levels of PS (-6.6 percent) (rejected) In summary, the research results all show that investigating the factors that impact changes in the economic structure as well as the way people consume and live in 2022 will give banks a competitive advantage when planning marketing efforts, social media campaigns, and modernizing their app and e banking system; however, for their learning results to improve, we must find ways to increase Privacy and Security as well as enhance the security of consumers' financial information on the e-banking platform, and be satisfied When we this, we will be able to demonstrate and determine student satisfaction with using e-Banking and to so, we will need a lot of effort from five different factors, which are Reliability, Privacy and Security, Web Design, Customer service and Support It is similar to the previous research study about RE, PS and WD all have an impact on E-banking Satisfaction (EBS) but CSS; RE, WD and EBS all have an impact on E-banking Loyalty (EBL) but PS and CSS We fixed a Customer Service and Support bug that the previous authors were unable to solve, however it remains a Privacy and Security (PS) bug The reason these two hypotheses are rejected is that when users send personal information to the bank, some are concerned that their information will be stolen and used for malicious purposes, whereas others are unconcerned that their information will be used to improve the personal experience of their banking application Many study articles have recently been published on the impact of E-banking Satisfaction and Loyalty on young people in general and 48 students in particular The idea is based on a well-developed model and hypothesis, which they finalized and presented in Saudi Arabia (Z Ghali, 2021) and Pakistan (IU Haq and TM Awan, 2020) Furthermore, while the research results based on the research model proposed by IU Haq and TM Awan in 2020 are generally quite good to apply in our country, it is still not exactly the same and exact, namely in the second and sixth hypothesis (H2, H6), when applied and studied within Ho Chi Minh City, Vietnam, were rejected because each country has different cultures as well as lifestyle and thinking of each individual In general, once the research findings are collected, the group will use them to give recommendations to businesses in order to improve the quality of e-banking services and make it easier for customers to pay Furthermore, client information must be more secure, and e-banking system problems must be totally resolved in order to strengthen customer trust 5.2 Recommendations Based on the findings of this study, we can summarize there are many advantages in the topic of the group that can be recommended to businesses First, e-banking services can make it easier for people to pay Consumers will save time and effort by using e-banking to make transactions Second, it supports people to practice social distancing better during the present Covid-19 epidemic Instead of people having to buy and pay directly, ebanking can help them pay on the app and they not need to move to crowded places Finally, e-banking offers consumers an exciting experience of modern technology and digital ways This is 49 a step that marks the development of technology application in the banking sector This will give consumers better access to future innovations However, in addition to the benefits, online e-banking services may also have drawbacks Firstly, the information of customers remains unsecured According to the survey in the study, we can still see that a few people are still concerned about their personal information being stolen This makes customers still consider whether to use online e-banking services or not Second, the system errors of e-banking have not been completely fixed Because of this, customers feel uncomfortable When they use the e-banking service to make a payment, the payment is not successful or even though the system has announced the completion of the transaction, but the money has not yet reached others To sum up, banks should fix these problems as soon as possible This will help them to reinforce the trust of customers At the same time, they still must continue to promote their strengths and advantages to help customers get the best experience RE -> ES (Reliability -> E-banking customer Satisfaction) According to the conclusions of the study, the RE factor has an impact on ES System reliability, defined as system dependability, is investigated by the probability of demand satisfaction, as a key performance indicator for evaluating the service level of the financial organization transmission system Reliability of internet banking has a significant positive effect on customer satisfaction 50 The person who plays an important role in this case is none other than the Banking’s consumer, the financial firm needs to be trustful of how they provide service and protect their customer policy that will directly affect their interest outcomes In sum, The financial cooperation nowadays has excellently completed almost all conditions to gain the trust of customers PS -> ES (Privacy and Security -> E-banking customer Satisfaction) Since there is a lot of bad news about how untrustworthy banks these days are, such as people complaining why they lost their money after using e-banking for a while for no reason or why they keep getting unnecessary calls from some telesale staff Customers are having a lot of doubts in their banks, so if banks still want to keep their customers they have to take some action to gain their customer trust again The author’s recommendation is that financial organizations need to invest more on the IT department to develop their firewall to optimize the protection of customers' personal information on their platform WD -> ES (Web design -> E-banking customer Satisfaction) The goal of this study is to find empirical proof of the link between web design (WD) and e-satisfaction, as well as their impact on eloyalty High quality of website design (WD) is essential If banks are to maintain and ensure their clients' electronic satisfaction (ES), high website design (WD) is essential According to our result, an Easy-to-use interface is the factor that users appreciate and care about the most Moreover, the elements of colors and 51 items are still interesting, but customers not have certain standards, so banks need to shape the consistent style of the brand to attract interaction from users Therefore our suggestion for this element is that banking firms should have a detailed and clear survey of the "easy to use" conditions of users and need an eye-catching design because nowadays the brand's image is a prerequisite for customer satisfaction 5.3 Limitations and directions for future research Our first limitation is geographically constricted, and despite efforts to survey other universities, the number of respondents remains insufficient, and it is still limited to Ho Chi Minh City As a result, the findings cannot be applied to the entire country So, it is advised that data be collected from individuals from various locations of the country or the world for future research, which will provide a more complete outcome In the future, researchers may use alternative ways to conduct in-depth analysis And we only looked at the mediated impact of e-banking customer satisfaction, and it was difficult for us to establish a link between EBSQ dimensions and e-banking satisfaction due to the paucity of literature in this area Second, while our study only discovered four factors influencing customer satisfaction and loyalty in the banking industry in the Covid 19 pandemic in Vietnam, we believe there are other factors that we have not had enough time to investigate, so we hope that future research will result in a more comprehensive research 52 model to address issues that we are still on a quest to solve For example, potential researchers could look at various online service classifications, such as the volume of sales or the products purchased Future research should concentrate on other factors such as technological speed, interface quality, perceived usefulness, compatibility, and their relationship with customers, as well as the decision to use Internet banking and the importance of building trust in order to adopt online banking through the use of wireless networks CONCLUSION The current circumstances have increased the demand for ebanking, had a significant impact on the use of traditional banking, and focused on the impact during the pandemic, but their preferences related to reliability, web design, privacy and security, customer service and support, which is an interesting departure from previous research The probable reason is the hard times of the ongoing pandemic (COVID-19) Banks in Vietnam can use our research and recommendations to establish e-banking strategies, particularly in times of epidemics and natural calamities, that will help banks maintain existing 53 account holders and attract new ones Customers' perceptions and elements that make them more satisfied and loyal to e-banking services may also be understood by service providers This study also provides insight into consumers' goals and focal requirements from e-banking services in order for them to become loyal and content with online banking platforms throughout the lockout It also aids banks in making strategic decisions for advances in Vietnam's e-banking future, as well as managing COVID-19 and digitalization 54 REFERENCES Inzamam Ul Haq, Tahir Mumtaz Awan, Impact of e-banking service quality on e-loyalty in 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