MINISTRY OF EDUCATION AND TRAINING UNIVERSITY OF ECONOMICS HOCHIMINH CITY Lâm Hồng Phong Testing a Model of CUSTOMER-BASED BRAND EQUITY In The Vietnamese Banking Service MASTER’S THESIS In Business Administration Ology code: 60.34.05 Supervisor Dr. Trần Hà Minh Quân Ho Chi Minh City 2009 i Acknowledgement This research project would not have been possible without the support of many people. Firstly I wish to express my deep sincere gratitude to my supervisor, Dr. Tran Ha Minh Quan for his invaluable advices and helps. Without him, this thesis could not have been completed. Special thanks to all instructors without whose knowledge and assistance this study would not have been successful. My debt is also acknowledged to Dr. Barry Clough from Dragon-Mekong-CTU for his kindness and help in English editing. I would like to express my deepest gratitude and honor to my dear parents for not only the love they devote to me but also for the time I took from them which should have been my devotion to them in their aged time. My thanks would also go to all of my classmates, my colleagues, especially my “old pals”, Nguyen Thanh Trung and Ms Dang Hai Yen for all of their friendship and encouragement. I also wish to thank my friends in Vietcombank, VPBank, Navibank and Tien Phong bank for their great support. My thanks would also go to the respondents, without them, my thesis could not have been done. Finally, my greatest thanks would go to my dear wife, Vu Thi Thuy Duong and my two sons, Vu and Phuc who are my whole life and are the greatest inspiration and encouragement for me to overcome all difficulties through the duration of my study. ii Abstract This study reports on the research results by testing the model of customer-based brand equity proposed by Martensen & Grønholdt (2004) into banking industry of Vietnam. A study of 295 respondents from two bank brands was conducted in Can Tho city. Multiple linear regression technique was used to test the hypotheses and research model. According to the results, the original model was applicable in Vietnamese retail banking service with some adaptation. Service quality and price were confirmed to have positive impacts on both rational and emotional evaluations. However, the other associations such as brand differentiation, brand promise and trust and credibility were found significant in relation with only either rational evaluation or emotional evaluation. The different weights of the relationships between brand associations and brand evaluations, and between brand evaluations and customer-brand relationships, have some implications for bank managers who might use them as a source of reference for CRM strategy. The study also provided a modified model of customer-based brand equity that could be used as a point of departure for those who would like to conduct a further research into brand equity in banking industry in Vietnam. Key word: banking, customer-based brand equity, customer-brand relationship iii TABLE OF CONTENT Acknowledgement .i Abstract ii TABLE OF CONTENT Testing the Significance of the Correlation Coefficient Testing the Significance of the Correlation Coefficient By: OpenStaxCollege The correlation coefficient, r, tells us about the strength and direction of the linear relationship between x and y However, the reliability of the linear model also depends on how many observed data points are in the sample We need to look at both the value of the correlation coefficient r and the sample size n, together We perform a hypothesis test of the "significance of the correlation coefficient" to decide whether the linear relationship in the sample data is strong enough to use to model the relationship in the population The sample data are used to compute r, the correlation coefficient for the sample If we had data for the entire population, we could find the population correlation coefficient But because we have only have sample data, we cannot calculate the population correlation coefficient The sample correlation coefficient, r, is our estimate of the unknown population correlation coefficient • The symbol for the population correlation coefficient is ρ, the Greek letter "rho." • ρ = population correlation coefficient (unknown) • r = sample correlation coefficient (known; calculated from sample data) The hypothesis test lets us decide whether the value of the population correlation coefficient ρ is "close to zero" or "significantly different from zero" We decide this based on the sample correlation coefficient r and the sample size n If the test concludes that the correlation coefficient is significantly different from zero, we say that the correlation coefficient is "significant." • Conclusion: There is sufficient evidence to conclude that there is a significant linear relationship between x and y because the correlation coefficient is significantly different from zero 1/9 Testing the Significance of the Correlation Coefficient • What the conclusion means: There is a significant linear relationship between x and y We can use the regression line to model the linear relationship between x and y in the population If the test concludes that the correlation coefficient is not significantly different from zero (it is close to zero), we say that correlation coefficient is "not significant" • Conclusion: "There is insufficient evidence to conclude that there is a significant linear relationship between x and y because the correlation coefficient is not significantly different from zero." • What the conclusion means: There is not a significant linear relationship between x and y Therefore, we CANNOT use the regression line to model a linear relationship between x and y in the population Note • If r is significant and the scatter plot shows a linear trend, the line can be used to predict the value of y for values of x that are within the domain of observed x values • If r is not significant OR if the scatter plot does not show a linear trend, the line should not be used for prediction • If r is significant and if the scatter plot shows a linear trend, the line may NOT be appropriate or reliable for prediction OUTSIDE the domain of observed x values in the data PERFORMING THE HYPOTHESIS TEST • Null Hypothesis: H0: ρ = • Alternate Hypothesis: Ha: ρ ≠ WHAT THE HYPOTHESES MEAN IN WORDS: • Null Hypothesis H0: The population correlation coefficient IS NOT significantly different from zero There IS NOT a significant linear relationship(correlation) between x and y in the population • Alternate Hypothesis Ha: The population correlation coefficient IS significantly DIFFERENT FROM zero There IS A SIGNIFICANT LINEAR RELATIONSHIP (correlation) between x and y in the population DRAWING A CONCLUSION:There are two methods of making the decision The two methods are equivalent and give the same result • Method 1: Using the p-value • Method 2: Using a table of critical values 2/9 Testing the Significance of the Correlation Coefficient In this chapter of this textbook, we will always use a significance level of 5%, α = 0.05 Note Using the p-value method, you could choose any appropriate significance level you want; you are not limited to using α = 0.05 But the table of critical values provided in this textbook assumes that we are using a significance level of 5%, α = 0.05 (If we wanted to use a different significance level than 5% with the critical value method, we would need different tables of critical values that are not provided in this textbook.) METHOD 1: Using a p-value to make a decision To calculate the p-value using LinRegTTEST: On the LinRegTTEST input screen, on the line prompt for β or ρ, highlight "≠ 0" The output screen shows the p-value on the line that reads "p =" (Most computer statistical software can calculate the p-value.) • • • • If the p-value is less than the significance level (α = 0.05): • Decision: Reject the null hypothesis • Conclusion: "There is sufficient evidence to conclude that there is a significant linear relationship between x and y because the correlation ... MINISTRY OF EDUCATION AND TRAINING UNIVERSITY OF ECONOMICS HOCHIMINH CITY Lâm Hồng Phong Testing a Model of CUSTOMER-BASED BRAND EQUITY In The Vietnamese Banking Service MASTER’S THESIS In Business Administration Ology code: 60.34.05 Supervisor Dr. Trần Hà Minh Quân Ho Chi Minh City 2009 i Acknowledgement This research project would not have been possible without the support of many people. Firstly I wish to express my deep sincere gratitude to my supervisor, Dr. Tran Ha Minh Quan for his invaluable advices and helps. Without him, this thesis could not have been completed. Special thanks to all instructors without whose knowledge and assistance this study would not have been successful. My debt is also acknowledged to Dr. Barry Clough from Dragon-Mekong-CTU for his kindness and help in English editing. I would like to express my deepest gratitude and honor to my dear parents for not only the love they devote to me but also for the time I took from them which should have been my devotion to them in their aged time. My thanks would also go to all of my classmates, my colleagues, especially my “old pals”, Nguyen Thanh Trung and Ms Dang Hai Yen for all of their friendship and encouragement. I also wish to thank my friends in Vietcombank, VPBank, Navibank and Tien Phong bank for their great support. My thanks would also go to the respondents, without them, my thesis could not have been done. Finally, my greatest thanks would go to my dear wife, Vu Thi Thuy Duong and my two sons, Vu and Phuc who are my whole life and are the greatest inspiration and encouragement for me to overcome all difficulties through the duration of my study. ii Abstract This study reports on the research results by testing the model of customer-based brand equity proposed by Martensen & Grønholdt (2004) into banking industry of Vietnam. A study of 295 respondents from two bank brands was conducted in Can Tho city. Multiple linear regression technique was used to test the hypotheses and research model. According to the results, the original model was applicable in Vietnamese retail banking service with some adaptation. Service quality and price were confirmed to have positive impacts on both rational and emotional evaluations. However, the other associations such as brand differentiation, brand promise and trust and credibility were found significant in relation with only either rational evaluation or emotional evaluation. The different weights of the relationships between brand associations and brand evaluations, and between brand evaluations and customer-brand relationships, have some implications for bank managers who might use them as a source of reference for CRM strategy. The study also provided a modified model of customer-based brand equity that could be used as a point of departure for those who would like to conduct a further research into brand equity in banking industry in Vietnam. Key word: banking, customer-based brand equity, customer-brand relationship iii TABLE OF CONTENT Acknowledgement .i Abstract ii TABLE OF CONTENT Women and Water in Canada The Significance of Privatization and Commercialization Trends for Women’s Health Prepared for Women and Health Care Reform and The National Network on Environments and Women’s Health August 2009 Copyright © 2009 National Network on Environments and Women’s Health Individual copyright to their work is retained by the authors. All rights reserved. No part of this report may be reproduced or transmitted in any form by any means without permission in writing from the publisher. Published by: National Network on Environments and Women’s Health Suite 5021, TEL Building York University 4700 Keele Street Toronto, Ontario M3J 1P3 Telephone: 416.736.5941 Fax 416.736.5986 Email: nnewh@yorku.ca Web site: www.yorku.ca/nnewh www.womenandwater.ca Women and Health Care Reform and the National Network on Environments and Women’s Health (NNEWH) are financially supported by the Women’s Health Contribution Program, Bureau of Women’s Health and Gender Analysis, Health Canada. The views expressed herein do not necessarily represent official policy of Health Canada. August 2009 With contributions by Vera Pavri, Corian Crawley, Pat Armstrong, Anne Rochon Ford, Patricia Hania, Margaret Haworth-Brockman, Karin Jordan, Meera Karunananthan, and Dayna Nadine Scott. Table of Contents 5 Introduction Trends in the Commercialization and Privatization of Water 6 Definitions 6 Rationales For and Against Privatization 7 Historical Overview: Trends in Governance Models for the Provision of Water 8 Consequences of Water Privatization Trends Internationally Current Governance: Competing Water Management Models 9 Public Utilities 9 Private Sector Participation 9 Public-Private Partnerships (P3s) 10 Community Co-operatives Case Studies of P3s in the Water Sector 11 Canadian and American Experiences with P3s 11 New Orleans, Indianapolis, and Milwaukee, U.S.A. 11 Hamilton, Ontario 12 Halifax, Nova Scotia 12 Moncton, New Brunswick 12 First Nations Communities 13 Assessing North America’s Experience with Public-Private Partnerships Consequences of Water Privatization for Women and Their Health 14 Price Increases 15 Higher Disconnection Rates 15 Declining Water Quality and Loss of Oversight 17 The Turn to Bottled Water 19 Conclusions: Women and Water Privatization 20 Endnotes 21 References The Significance of Privatization and Commercialization Trends for Women’s Health 5 Access to clean, safe drinking water is a central determinant of health in Canada, as it is all over the world. The availability and cost of water has implications for women in Canada, both in terms of their own personal health, and because women are very often primary caretakers, responsible for the structural and health needs of their families and community. In this report, we examine contemporary pressures to move towards the privatization and commercialization of water services and delivery in Canada and evaluate the gendered health implications for women that would flow from these choices. Introduction • the different types of water management models; • examples of water privatization initiatives globally and their consequences for women; • specific examples and consequences of water privatization in Canada; and • an examination of the gendered health risk for women, including Human-Animal Bonds I: The Relational Significance of Companion Animals FROMA WA LSH , PH.D . n The importance of human-animal bonds has been documented throughout history, across cultures, and in recent research. However, attachments with companion animals have been undervalued and even pathologi zed in the field of mental health. This article briefly surveys the evolution of human-animal bonds, reviews research on their health and mental health benefits, and examines their profound relational significance across the life course. Finally, the emerging field of animal-assisted interventions is described, noting applications in hospital and eldercare settings, and in innovative school, prison, farm, and community programs. The aim of this overview paper is to stimulate more attention to these vital bonds in systems-oriented theory, practice, and research. A companion paper in this issue focuses on the role of pets and relational dynamics in family systems and family therapy (Walsh, 2 009a). Keywords: Hu man-Animal Bonds; H ealth and Mental Health Benefits; Bonds with Companion Animals /Pets; Animal-Assisted Int erven tions ; Therapeutic Program Ap- plications Fam P roc 48:462–480, 2009 Native peoples say that a long time ago on the earth a chasm opened up separating animals and humans. As the chasm got wider and wider, the dogs jumped across to be with the humans. Today, when you hear wolves howling in the night, they’re crying out for the chasm to closeF (Kling, 2006) A ncient peoples valued the profound connections between humans and animals. In recent years, increasing research evidence confirms the physiological, psycho- logical, and social benefits of interactions with animals and the therapeutic potential of animal-assisted programs in a wide range of settings. Yet the field of mental health has been slow to recognize the importance of these bonds in clinical theory, research, Family Process, Vol. 48, No. 4, 2009 r FPI, Inc. 462 PROCESS The author gratefully acknowledges the valuable contributions by Carol Anderson, Ph.D., Janet Goeking, MA, Susan Sholtes, LCSW, Maria Root, Ph.D., and Claire Whitney, LMSW. Correspondence concerning this article should be addressed to Froma Walsh, Ph.D., Chicago, Center for Family Health, #1442, 20 N. Wacker Dr., Chicago IL 60606. E-mail: fwalsh@uchicago.edu n Firestone Professor Emerita and Co-Director, Center for Family Health, University of Chicago, IL and practice. This overview paper brings needed attention to the relational signifi- cance of companion animals for our well-being, connectedness, and resilience. HUMAN-ANIMAL BONDS IN HISTORICAL AND CROSS-CULTURAL CONTEXT In ancient times and in cultures worldwide, animals have been respected as es- sential partners in human survival, health, and healing. Many spiritual traditions have honored the relationships of people to animal forms of life, as part of the in- terconnectedness of the natural world and a link to the spirit world (Serpell, 2006). Animal companions and guides have assumed powerful roles in animist beliefs and shamanic practices (Campbell, 1984). Asian cultures, Amerindians, and other indig- enous peoples continue to draw symbolic meaning and important teachings from animals. In Chinese legend, 2,500 years ago the Buddha summoned twelve creatures under the Bodhi tree, taught them about their strengths and weaknesses, and then sent them out into the world to guide people in their personal and relational growth. The Chinese believe that each of us is born with essential characteristics and The Significance of German Savings Banks in regional Structural and Cohesion Policy: Can they avoid regional downward Spirals? Stefan Gärtner Institute for Work and Technology Munscheidstr. 14, 45886 Gelsenkirchen, Germany email: gaertner@iat.eu 1 Abstract: This paper deals with savings banks in Germany (Sparkassen) in the context of regional structural and cohesion policy, as well from a theoretical as an empirical point of view. What benefits the savings banks provides will be discussed, on the one hand in terms of growth agenda, and on the other hand in terms of cohesion policy. While making research on this topic, the question arises if the regionally-limited sav- ings banks are able to be as economically successful in poorer regions as in prosperous ones. This leads to the question if savings banks can outrun ‘downward spirals’ in less developed regions? Content 1 Introduction 2 2 Regional Structural Policy between growth agenda and cohesion ? 4 3 The Theoretical Relevance of savings banks 7 3.1 The Function of Banks: does space matter? 10 3.2 Banks and Capital Mobility and their Effects on Regional Development 13 4 Regional Banks and Lock-In Effect: Is there any weakness of strong ties? 15 4.1 Methodical approach and research design 17 4.2 Empirical Results 19 5 Regions and their Savings Banks: A qualitative comparison 25 6 Some Final Remarks 28 2 1 INTRODUCTION Traditionally the objective of European as well as German cohesion and regional struc- tural policy, is to develop structurally weak regions in order to reduce regional dispari- ties. Therefore huge amounts of public money have been invested in poorer regions in the past, for instance by subsidising inward investment. Lasting weak rates of growth, persisting high unemployment rates, a shrinking population, and windfall gains, as well as only short-term results of company recruitment pose the question if such a pol- icy is still reasonable. Therefore in recent years a variety of different concepts and ideas for regional devel- opment have been worked out which emphasize the regional or local potentials, in- stead of promoting company recruitment into poorer regions. These new approaches are well accepted by regional economic scientists, and also increasingly by regional, national and European policy-makers. The concept even found its way into cohesion policy in order to support disadvantaged regions by strengthening or promoting ‘clus- ters’ – which are mostly not located in the structurally weaker regions. In consequence, public money does not always go to the poorest regions any longer. However, trying to develop underdeveloped regions through subsidising inward in- vestment - which seems to be less successful in the long-run - is just as inappropriate as a regional policy only orientated towards growth. Therefore a structural and cohesion policy with an orientation to growth and regional balance is needed: on the one hand, growth potentials should be promoted where they exist; on the other hand, structurally weak regions should receive special help in order to enable the participation in, and the ... of the residuals: s= √ nSEE − where SSE = sum of squared errors n = the number of data points When testing the significance of the correlation coefficient, what is the null hypothesis? When testing. .. 6/9 Testing the Significance of the Correlation Coefficient • • • • • The assumptions underlying the test of significance are: There is a linear relationship in the population that models the. .. testing the significance of the correlation coefficient, what is the alternative hypothesis? Ha: ρ ≠ If the level of significance is 0.05 and the p-value is 0.04, what conclusion can you draw? 8/9 Testing