Student perceived value towards universities high quality program in vietnam

UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Đoàn Hồng Phát STUDENT PERCEIVED VALUE TOWARDS UNIVERSITIES’ HIGH QUALITY PROGRAM IN VIETNAM MASTER OF BUSINESS (Honours) Ho Chi Minh City – Year 2015 UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Đoàn Hồng Phát STUDENT PERCEIVED VALUE TOWARDS UNIVERSITIES’ HIGH QUALITY PROGRAM IN VIETNAM ID: 22130055 MASTER OF BUSINESS (Honours) SUPERVISOR: Assoc Prof., Dr PHAM NGOC THUY Ho Chi Minh City – Year 2015 -iii- ACKNOWLEDGEMENTS The completion of this research represents a milestone in my life It has been a long time and required a great amount of time and effort There used to be so many challenges and barriers that made me down and flinch However, with the great support from my beloved family, my dear friends and my kind colleagues, I was added with strength and continued my steps to complete this thesis Therefore, from deep of my heart, I would like to say thank you to all of supporters who did not mind spending precious time for helping me during a long journey Especially, I wish to express my deeply gratitude to Assoc Prof., Dr Pham Ngoc Thuy who has patiently instructed and shared with me her precious experiences It was her who maintained my belief and led me forward on the right decisions To me, not only is this a thesis, but this is also a journey for me to grow and become more matured At this moment, I feel confident in myself than ever Academic knowledge and experiences I have accumulated for more than years at International School of Business will definitely be my firm preparation for my next move Once again, thank you for transferring me knowledge, strength and courage! -iv- STATEMENT OF AUTHENTICATION (Candidate Certificate) I certify that the work in the thesis entitled “Student perceived value towards universities’ high quality programs in Vietnam” is the result of my own research and has not been submitted for a higher degree to any university or institution other than International School of Business (ISB) I also certify that the thesis has been written by me Any help and assistance that I have received in my thesis have been appropriately acknowledged Ho Chi Minh, 21 December, 2015 Doan Hong Phat -v- TABLE OF CONTENTS ACKNOWLEGEMENT iii STATEMENT OF AUTHENTICATION iv TABLE OF CONTENTS v LIST OF ABBREVIATIONS vii LIST OF FIGURES viii LIST OF TABLES ix ABSTRACT x Chapter 1: Introduction 1.1 Research background 1.2 Research problem 1.3 Research objectives 1.4 Scope of the research 1.5 Research significance 1.6 Research method 1.7 Research structure Chapter 2: Literature review 2.1 Literature review 2.1.1 Student perceived value 2.1.2 Perceived risk 2.1.3 Perceived service quality 11 2.1.4 Perceived price 11 2.1.5 Perceived service quality and emotional value 12 2.1.6 Perceived performance risk and emotional value 13 2.1.7 Perceived price and emotional value 13 2.1.8 Perceived price and perceived service quality 14 2.1.9 Perceived service quality and perceived performance risk 14 2.1.10 Perceived price and perceived performance risk 15 2.2 Research model 15 -vi- Chapter 3: Research methodology 18 3.1 Research process 18 3.2 Preliminary survey 21 3.3 Measurement scales 22 3.4 Questionnaire design 24 3.5 Sample size 24 3.6 Sampling 25 3.7 Data analysis 26 Chapter 4: Data analysis 29 4.1 Sample characteristic 29 4.2 Confirmatory Factor Analysis (CFA) 31 4.2.1 Composite reliability and variance extracted 36 4.2.2 Convergent validity test 37 4.2.3 Discriminant validity test 37 4.3 Research model test 39 4.3.1 Theoretical model test by using SEM approach 39 4.3.2 Testing hypotheses 42 4.3.3 Theoretical model estimation by BOOTSTRAP 45 4.4 Discussion 46 Chapter 5: Conclusion, implications and limitations 48 5.1 Main findings 48 5.2 Managerial Implications 49 5.3 Contribution of the study 51 5.4 Limitations and direction for future research 51 References 53 Appendices 60 Appendix A: Questionnaire (English version) 60 Appendix B: Questionnaire (Vietnamese version) 62 Appendix C: Descriptive statistics 64 Appendix D: Bootstrap distribution (Default model) 67 -vii- LIST OF ABBREVIATIONS ABBREVIATION MEANING AMOS Analysis of Moment Structures AVE Average Variance Extracted BU Banking University CFA Confirmatory Factor Analysis CFI Comparative Fit Index CR Composite Reliability FTU Foreign Trade University GFI Goodness of Fit index HCMC Ho Chi Minh City HQP High Quality Program MTP Massive Training Program TFI Tucker & Lewis Index UEH University of Economics RMSEA Root Mean Square Error Approximation SEM Structural Equation Modeling SPSS Statistical Package for the Social Sciences -viii- LIST OF FIGURES Figure 2.1: The proposed research model 16 Figure 3.1: Research process 19 Figure 4.1: The first CFA result 32 Figure 4.2: The second CFA result 33 Figure 4.3: Measurement Model 35 Figure 4.4: SEM analysis result for Structural Model 40 -ix- LIST OF TABLES Table 2.1: Hypotheses in the model 18 Table 3.1: Scale of Perceived service quality 22 Table 3.2: Scale of Perceived price 23 Table 3.3: Scale of Perceived performance risk 23 Table 3.4: Scale of Student emotional value 24 Table 3.5: Summary of goodness fit indices 27 Table 4.1: Descriptive statistics of the data 30 Table 4.2: Model Fit Summary – Comparison 36 Table 4.3: The results of reliability and variance extracted test 37 Table 4.4: Regression weights and Standardized regression weights summary 38 Table 4.5: Testing the discriminant validity 39 Table 4.6: Regression Weights – Theoretical Model 41 Table 4.7: Standardized Regression Weights of Theoretical Model 41 Table 4.8: Squared Multiple Correlation 42 Table 4.9: Results of testing the hypotheses 44 Table 4.10: Standardized Regression Weights (Theoretical Model) 45 Table 4.11: Bootstrap results (N = 1000) 45 -x- ABSTRACT This study empirically examines the effects of perceived service quality, perceived price, perceived performance risk on the emotional value of students towards the highquality program in universities in Vietnam Structural equation modeling was used to test these impacts, utilizing a sample of 277 students in three public universities in Ho Chi Minh City, including Foreign Trade University, University of Economics and Banking University The results show that among three determinants, only perceived service quality was found to affect student emotional value towards the high-quality program Although perceived price was found not to have an impact on student emotional value but it had a significant and positive effect on perceived service quality Moreover, the study also reveals that perceived service quality had a significant and negative influence on perceived performance risk These findings imply that managers of the high-quality program in universities should pay attention to improving the perception of service quality in order to enhance student emotional value The research findings also engage with some limitations in the 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Social Behavior and Personality, 42(10), 1733-1744 Zeithaml, V A (1988) Consumer perceptions of price, quality, and value: A means-end model and synthesis of evidence Journal of Marketing, 52(3), 2-22 -60- APPENDICES APPENDIX A: QUESTIONNARIE (ENGLISH VERSION) Dear Sir/ Madam, I am Doan Hong Phat, a student of Master Program of University of Economics, Ho Chi Minh City I am conducting a research on exploring the impact of perceived service quality, perceived price and perceived performance risk on students’ perception of value towards the high-quality program in universities in Vietnam Therefore, I would like to ask you to spend a part of your precious time answering this questionnaire Please note that there will be no right or wrong answers All of your opinions are valuable to my research I sincerely thank you for your enthusiastic cooperation! PART 1: GENERAL INFORMATION Which university are you attending the high-quality program? University Major Which year are you in the program?  First year  Third year  Second year  Fourth year The next questions in Part will address “X” as the high-quality program you are attending at your university PART 2: STUDENTS’ ASSESSMENT OF THE HIGH- QUALITY PROGRAM THEY ARE ATTENDING Strongly disagree Disagree Neutral Agree Strongly agree To what extent you agree with each of the following statements, please indicate your answer using the following 5-point scale where: = Strongly disagree = Disagree = Neutral = Agree = Strongly agree I feel that the program X… 5 … is reliable and durable … has excellent quality features (For example: experienced lecturers, helpful content, opportunities to join practical activities at firms, etc.) … has fewer problems (For example : register subjects, facilities, etc.) … gives me excellent learning experience 5 … has excellent quality -61- The fees set for the program X are adequate for the work performed The program X offers good quality and low prices The program X is more economical than other similar offers 5 5 5 5 16 What I care is the quality of the program but the fees There was a high chance that the program X would not be delivered as advertised There was a high chance that I would suffer some loss because this program would not be highly evaluated by recruiters I thought the program X was extremely risky in terms of how it would perform The program X of this university is the one that I would enjoy The program X of this university makes me want to register and attend to learn The program X of this university is the one that I would feel relaxed about attending to learn The program X of this university would give me pleasure 17 The program X of this university would make me feel good 10 11 12 13 14 15 PART 3: PERSONAL INFORMATION For the purpose of statistic classification, please provide some personal information Gender  Male  Female Do you have a part-time job?  Yes  No Which is your permanent residence?  Ho Chi Minh City  Other provinces By whom are your expenses for learning paid?  Family  Scholarship  Other (please clearly specify)………………… -Sincerely thank you for your enthusiasm - -62- APPENDIX B: QUESTIONNAIRE (VIETNAMESE VERSION) PHIẾU KHẢO SÁT Xin chào Anh/Chị! Tơi tên Đồn Hồng Phát, học viên cao học trường Đại học Kinh tế Thành phố Hồ Chí Minh Tơi nghiên cứu tác động yếu tố cảm nhận chất lượng dịch vụ, cảm nhận giá cảm nhận rủi ro đến cảm nhận sinh viên giá trị chương trình chất lượng cao trường đại học Việt Nam Vì vậy, mong Anh/Chị dành chút thời gian quý báu để trả lời Phiếu khảo sát Xin lưu ý khơng có câu trả lời hay sai mà tất ý kiến Anh/Chị có giá trị hữu ích cho nghiên cứu tơi Chân thành cảm ơn hợp tác nhiệt tình Anh/Chị! PHẦN I: THÔNG TIN TỔNG QUÁT Anh/Chị theo học chương trình chất lượng cao của: Trường Chuyên ngành Anh/Chị sinh viên năm thứ mấy?  Năm  Năm  Năm  Năm Các phát biểu Phần II gọi “X” chương trình chất lượng cao mà anh/ chị theo học trường đại học anh/chị PHẦN II: ĐÁNH GIÁ CỦA SINH VIÊN ĐỐI VỚI CHƢƠNG TRÌNH CHẤT Khơng đồng ý Trung dung Đồng ý Hoàn toàn đồng ý Xin cho biết mức độ đồng ý Anh/Chị phát biểu sau cách đánh dấu (x) 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 ồng ý LƢỢNG CAO CỦA TRƢỜNG ĐẠI HỌC X 5 Tơi cảm thấy chương trình X… … có chất lượng đáng tin cậy ổn định … có đặc trưng bật chất lượng (VD: giảng viên giàu kinh -63- nghiệm, nội dung chương trình học bổ ích, hội tham gia hoạt động thực tế doanh nghiệp…) … dường có cố (VD: đăng ký tín chỉ, sở vật chất, kỹ thuật…) … đem đến cho trải nghiệm học tập tuyệt vời 10 5 … có chất lượng tuyệt vời Chi phí theo học chương trình X tương xứng với chất lượng đào tạo 5 Chương trình X có chất lượng tốt với mức chi phí thấp Chương trình X có mức chi phí hợp lý chương trình tương tự trường khác Điều tơi quan tâm chất lượng chương trình học khơng phí theo học Tơi lo chương trình X không triển khai quảng cáo 5 5 5 5 5 16 Tôi lo chịu thiệt thịi chương trình X khơng nhà tuyển dụng đánh giá cao Tôi nghĩ chương trình X rủi ro nhìn vào cách thức tổ chức triển khai (VD: sĩ số sinh viên lớp, đảm bảo chất lượng đội ngũ giảng viên, đảm bảo thời gian mở lớp,…) Tơi thích chương trình X Chương trình X trường đại học khiến muốn đăng ký tham gia học Tôi cảm thấy thoải mái theo học chương trình X trường đại học Chương trình X cuả trường đại học tạo cho tơi cảm giác yên tâm 17 Chương trình X cuả trường đại học tạo cho cảm giác dễ chịu 11 12 13 14 15 PHẦN III: THÔNG TIN CÁ NHÂN Xin Anh/Chị cho biết số thông tin cá nhân để tiện cho việc phân loại liệu thống kê Giới tính:  Nam  Nữ Anh/Chị có làm thêm hay khơng?  Có  Khơng Anh/Chị có hộ thường trú tại:  Thành phố Hồ Chí Minh  Các tỉnh khác Học phí Anh/Chị chi trả bởi:  Gia đình  Học bổng  Khác (vui lịng ghi rõ)………………… -Chân thành cảm ơn hợp tác Anh/Chị! - -64- APPENDIX C: DESCRIPTIVE STATISTICS Frequencies Statistics University N Valid 277 Missing University Frequency Valid Percent Valid Percent Cumulative Percent 1.0 80 28.9 28.9 28.9 2.0 147 53.1 53.1 81.9 3.0 50 18.1 18.1 100.0 277 100.0 100.0 Total FREQUENCIES VARIABLES=Major /ORDER=ANALYSIS Statistics Major N Valid 277 Missing Major Frequency Valid Percent Cumulative Percent 1.0 31 11.2 11.2 11.2 2.0 29 10.5 10.5 21.7 3.0 20 7.2 7.2 28.9 4.0 197 71.1 71.1 100.0 Total 277 100.0 100.0 FREQUENCIES VARIABLES=Year /ORDER=ANALYSIS Statistics Year N Valid Percent Valid Missing 277 -65- Year Frequency Valid Percent Valid Percent Cumulative Percent 3.0 121 43.7 43.7 43.7 4.0 156 56.3 56.3 100.0 Total 277 100.0 100.0 FREQUENCIES VARIABLES=Gender /ORDER=ANALYSIS Statistics Gender N Valid 277 Missing Gender Frequency Valid Percent Valid Percent Cumulative Percent 1.0 110 39.7 39.7 39.7 2.0 167 60.3 60.3 100.0 Total 277 100.0 100.0 FREQUENCIES VARIABLES=ParttimeJob /ORDER=ANALYSIS Statistics ParttimeJob N Valid 277 Missing ParttimeJob Frequency Valid Percent Valid Percent Cumulative Percent 1.0 114 41.2 41.2 41.2 2.0 163 58.8 58.8 100.0 Total 277 100.0 100.0 FREQUENCIES VARIABLES=Permanentaddress /ORDER=ANALYSIS -66- Statistics Permanentaddress N Valid 277 Missing Permanentaddress Frequency Valid Percent Valid Percent Cumulative Percent 1.0 103 37.2 37.2 37.2 2.0 174 62.8 62.8 100.0 Total 277 100.0 100.0 FREQUENCIES VARIABLES=FinancialSource /ORDER=ANALYSIS Statistics FinancialSource N Valid 277 Missing FinancialSource Frequency Valid Percent Valid Percent Cumulative Percent 1.0 266 96.0 96.0 96.0 2.0 1.4 1.4 97.5 3.0 2.5 2.5 100.0 277 100.0 100.0 Total -67- APPENDIX D: BOOTSTRAP DISTRIBUTION (DEFAULT MODEL) ML discrepancy (implied vs sample) (Default model) N = 1000 Mean = 142.156 S e = 775 65.086 75.624 86.162 96.701 107.239 117.777 128.315 138.854 149.392 159.930 170.468 181.007 191.545 202.083 212.621 | -|* |* |* |*** |******** |*************** |****************** |****************** |***************** |************** |********* |****** |*** |** |* | ML discrepancy (implied vs pop) (Default model) N = 1000 Mean = 138.109 S e = 449 105.881 112.986 120.092 127.197 134.302 141.408 148.513 155.618 162.724 169.829 176.935 184.040 191.145 198.251 205.356 | -|* |*** |********* |**************** |******************** |*************** |*********** |******* |**** |** |* |* |* |* |* | -68- K-L overoptimism (unstabilized) (Default model) N = 1000 Mean = 106.027 S e = 3.902 | -|* |* |** |****** |********** |**************** |******************** |******************** |************* |********* |***** |** |* |* |* | -273.566 -214.546 -155.525 -96.505 -37.484 21.537 80.557 139.578 198.598 257.619 316.640 375.660 434.681 493.702 552.722 K-L overoptimism (stabilized) (Default model) N = 1000 Mean = 100.487 S e = 931 14.598 30.792 46.985 63.179 79.373 95.567 111.761 127.955 144.149 160.343 176.537 192.731 208.925 225.119 241.313 | -|* |* |**** |********* |*************** |******************** |****************** |*********** |****** |** |** |* |* |* |* | -69- Model Default model Saturated model Independence model Model Default model Saturated model Independence model NPAR CMIN DF P CMIN/DF 30 86.709 48 001 1.806 78 000 12 1321.455 66 000 20.022 RMR GFI AGFI PGFI 032 951 921 585 000 1.000 276 382 270 324 NFI RFI IFI TLI Model CFI Delta1 rho1 Delta2 rho2 Default model 934 910 970 958 969 Saturated model 1.000 1.000 1.000 Independence model 000 000 000 000 000 Model PRATIO PNFI PCFI Default model 727 680 705 Saturated model 000 000 000 Independence model 1.000 000 000 Model NCP LO 90 HI 90 Default model 38.709 16.494 68.760 Saturated model 000 000 000 Independence model 1255.455 1141.028 1377.278 Model FMIN F0 LO 90 HI 90 Default model 314 140 060 249 Saturated model 000 000 000 000 Independence model 4.788 4.549 4.134 4.990 Model RMSEA LO 90 HI 90 PCLOSE Default model 054 035 072 338 Independence model 263 250 275 000 Model AIC BCC BIC CAIC Default model 146.709 149.675 255.430 285.430 Saturated model 156.000 163.711 438.673 516.673 Independence model 1345.455 1346.641 1388.943 1400.943 Model ECVI LO 90 HI 90 MECVI Default model 532 451 640 542 Saturated model 565 565 565 593 Independence model 4.875 4.460 5.316 4.879 HOELTER HOELTER Model 05 01 Default model 208 235 Independence model 18 20 Minimization: 041 Miscellaneous: 436 Bootstrap: ,838 Total: 1,315 ... advanced program, the talented engineer program, the high- quality engineer program, the special training program and the high- quality program Among these, the most outstanding and popular one in universities. .. empirically examines the effects of perceived service quality, perceived price, perceived performance risk on the emotional value of students towards the highquality program in universities in Vietnam. .. HO CHI MINH CITY International School of Business Đoàn Hồng Phát STUDENT PERCEIVED VALUE TOWARDS UNIVERSITIES? ?? HIGH QUALITY PROGRAM IN VIETNAM ID: 22130055 MASTER OF BUSINESS (Honours)