Meanwhile, Cristobal et al. Relationship between Perceived Value and Customer Loyalty Past literature showed that perceived value contributed to customer loyalty Dodds et al. Chen interney Dubinsky established a conceptual framework of perceived value in a B2C e-commerce setting for elaborating inrernet relationship between perceived value Literathre key determinants. Anderson and Srinivasan also suggested that when perceived value was low customers would be more inclined to switch to competing products in order to increase perceived value, thus a decline in loyalty. However, an investigation of perceived value as a predictor of customer loyalty in the golf traveller market by Petrick and Backman found it not to be predictive.
Furthermore, a finding from the study by Omar et al. Conversely, Chiou found that perceived trust had direct and positive impacts upon the loyalty of customers. This was supported by a study by Corbitt et al. Moreover, Ribbink et al. The findings showed that e-trust directly and positively affects e-loyalty. Additionally, Lee and Turban predicted that lack of trust is frequently cited as a reason for not purchasing from online merchants. Although most of the literature showed a positive impact of trust on loyalty, Finn and Kayande found that in an online environment, trust is not considered as a major contributor to loyalty.
Trafimow and Verplanken et al. Gefen found that habit alone can explain a large proportion of the variance in the continued use of a website. In the research done by Lin and Wangthey claimed that customers visit websites out of habit, rather than through a conscious evaluation of the perceived benefits and costs entailed.
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When Litersture is well-entrenched, people tend to ignore external information or rational strategy. Relationship between Reputation and Customer Loyalty A more interney reputation tends to develop sales and market share Shapiro, and to establish greater customer loyalty Andreassen and Lindestad, ; Robertson, When comparing on- and offline exchange, Standifird et al. Resnick and Zeckhauser further suggested that the best-known service internft with good reputations such as eBay and Google are the ones with healthiest profits and a oj client onternet. The model focused on the factors influencing customer Literture which consists of the relationship of service quality, perceived value, trust, Luterature and reputation with respect to customer loyalty reviea Internet banking websites.
The model is summarized in Figure 1. Conceptual Framework Research Hypotheses As discussed in the literature review, service quality is described as the overall customer evaluations and judgments regarding the Literatture and the quality of e-service delivery in the virtual marketplace Santos, and is related to web design, customer service, assurance and order management dimensions Cristobal et al. Dean Literatre his study on the contribution of service quality of call centres to customer loyalty to the jss organization in Australia has Literagure that perceived service quality is positively related to customer loyalty. Meanwhile, Wolfinbarger and Gilly showed that perceived quality is the second most important predictor of loyalty and intention to repeat a purchase.
As a consequence, the first hypothesis is stated as follows: Service quality has a positive influence on customer loyalty towards Internet banking websites. Referring to the literature review, perceived value is related to the overall evaluation of the customer on the differences between the benefits they received and the sacrifice they make Woodruff, In the study conducted by Lin and Wang on m-commerce, perceived value is a significant predictor of customer loyalty. To discourage customers from switching to competitors, a company must continuously work at enhancing perceived value in order to obtain higher customer loyalty. The significant relationship between perceived value and loyalty is also supported by other researchers such as Hsu and Anderson and Srinivasan as mentioned in the previous section.
Therefore, a second hypothesis is proposed: Perceived value has a positive influence on customer loyalty towards Internet banking websites. Trust, as previously discussed, refers to the consumer beliefs about certain characteristics of the supplier primarily regarding integrity, benevolence, competence and predictability Gefen et al. As described in the literature review, it shows that there is an effect of trust on customer loyalty. Lin and Wang also proved that trust has a positive effect on customer loyalty in m-commerce. When investigating e-loyalty within an e-services context, Cyr et al. Lastly, Floh and Treiblmaier investigated the importance of antecedents of online loyalty such as trust, quality of the Web site, quality of the service and overall satisfaction in the online banking environment.
They found out that trust can be seen as a major antecedent of customer loyalty. In light of the above research, the third hypothesis is proposed as below: Customer trust has a positive influence on customer loyalty towards Internet banking websites. Habit is what one usually does, that is it is a behavioral preference in the present and leads to the perpetuation of the same type of behavior Aarts et al. Based on the literature described in Section 2, past studies by researchers such as Lin and Wang and Gefen have highlighted that habit directly influences loyalty.
Following the statement mentioned above, the forth hypothesis is presented as below: Customer habit has a positive influence on customer loyalty towards Internet banking websites.
The literature review discussed that reputation relates to consistency over time of an attribute of an organization such as reputation in term of price, product quality, innovativeness, or global reputation Revuew and Milewicz, In the study conducted by Casalo et al. Goode and Harris also described that favorable interpretations of the online reputation of an online supplier are directly and positively associated with the behavioral intentions of consumers such as loyalty. Other literature previously mentioned also supports the relationship between reputation and loyalty. As a consequence, the fifth hypothesis is stated as follows: Reputation has a positive influence on customer loyalty towards Internet banking websites.
Questionnaire Design and Construct Measurement A Structured questionnaire was jd to Ljterature the responses from Internet banking rwview about their opinions on various research variables. The questionnaire of this study consists of seven variables: The seven variables mentioned above are used in current research with the measurement items are totally adapted based on the previous researches. The measurement items are then rephrased so that all items can be applied to Internet banking context. These 17 measurement items are grouped into four dimensions: Then, perceived value, trust and habit are adapted from Lin and Wangwith each consisting of 3, 5 and 4 items measurement respectively.
Lastly, to measure customer assessment of Internet banking website provider reputation in determining their choices of Internet banking website, this study adapted a past study from Casalo et al. As for customer loyalty, the construct is operationalized into a total of 5 items which are adapted from the research of Lin and Wang Respondents were also required to indicate their usage of Internet banking websites and provide demographic information. Sampling The sampling procedure that was adopted in this study for data collection was a convenience sampling method through questionnaire survey with a pre-planned sample size of respondents.
The target sample in this study was experienced Internet banking users. The questionnaire survey was distributed in Klang Valley, which is the most populous, urbanized and industrialized region in Malaysia with a total population of 6. Overall, from the total of questionnaires distributed during a one month data collection period, there were only valid questionnaires received that could be used for further analysis, with a response rate of This response rate is still adequate when compare to other similar studies which have involved sample sizes of Cristobal et al.
Data Inrernet and Findings Pre-Analysis Data Screening The regression assumption test indicated bankimg linearity and homoscedasticity are ensured and multicollinearity, auto-correlation and multivariate outliers do not exist. Therefore, the data used in this study is fit for further statistical analysis. This suggests that the items concerned adequately measure a single construct for each tested variable service quality, perceived value, trust, habit, reputation and customer loyalty. Reliability measurements for each construct are shown in Table 2. Reliability Measurement For construct validity in term of the discriminant validity test, correlation analysis between the variables was performed.
The result shows that internnet are low, with values no higher than 0. This indicates that the constructs are distinct from one another and is deemed to be at an acceptable level of discrimination. Consequently content validity is also established. Table 3 shows the analysis of correlation between the variables. Based on Table 4, all measurement items of each construct are significant at level 0.
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Moreover, based on Table 5, most of the individual factor loadings are more than 0. However, SQ16 factor loading is close to 0. Therefore item SQ16 is deemed as a valid item within the Service Quality variable. Overall, these results confirm that the measurement items of the same construct are highly correlated. In conclusion, based on the discriminant and convergent validity test, construct validity has been achieved in this study. Factor Loadings and Measures of Research Variables In general, the measurement scales used in this study are broadly valid and reliable, which permits further assessment of the relationships between the independent variables service quality, perceived value, trust, habit, reputation and the dependent variable customer loyalty.
The majority of the respondents belongs to the age group between 26 years old and 30 years old Respondents who possess a bachelor degree or professional certificate are in the majority Furthermore, a majority of the respondents The most frequently last used Internet banking website was also Maybank2u. Descriptive Analysis of Research Variables Table 7 shows some descriptive results for the research variables used in this study. The table shows minimum, maximum, mean and standard deviation for the research variables of service quality, perceived value, trust, habit, reputation and customer loyalty. The results shown below are the summation of all the items belong to each variable from the seven-point Likert scale.
The mean scores of service quality is 5. Respondents also had slightly higher perceptions of the value of Internet banking websites as indicated by the average means score of 5. Besides that, the average means score for trust is 5. These scores mean that respondents tend to: Lastly, for the customer loyalty variable, the means score is 4. Thus, the result suggests that the respondents tend to be only slightly loyal to the Internet banking website, if at all. Profiles of the Sample Table 7: Descriptive Statistics of Research Variables Multiple Regression Analysis In order to examine the factors influencing customer loyalty towards Internet banking websites in Malaysia, multiple regression analysis was performed.
Significant of IVs on DV Customer Loyalty Table 10 shows that trust, habit and reputation correlate positively and significantly with customer loyalty, but not service quality and perceived value are not so correlated. This indicates that reputation is more predictive of customer loyalty than trust and habit. Significant of IVs on DV Customer Loyalty Based on the findings, service quality and perceived value are not predictors of customer loyalty towards Internet banking websites in Malaysia, thus, H1 and H2 are rejected. Rejection of H1 is supported by past studies by Kouthouris and Alexandris in the sports tourism industry, Manhaimer in the retail industry and Cristobal et al.
Furthermore, findings by Omar et al. On the other hand, trust, habit and reputation have a significant, positive influence on customer loyalty. Thus, H3, H4 and H5 are supported in this study, with Beta values of 0.
A Systematic Review of Internet Banking Adoption
intednet The empirical findings of this study are in line with the evidence offered by Lin and Wang and Bankking et al. Major findings from these two studies have indicated that trust, habit and reputation play an important role in building customer loyalty in an Internet banking website context in Malaysia. Additionally, when compared, independent variables of trust, habit and reputation have a highly significant, positive influence on customer loyalty towards Internet banking website. These are followed in significance by trust and habit accordingly. Conclusion Research Conclusion and Implications The analysis finds that hypotheses three to five are supported, while hypotheses one and two are rejected at the significance level of 0.
Among the five independent variables, reputation is the best predictor of customer loyalty towards an Internet banking website. Results of the hypotheses testing are summarized in Table All these results lead to the achievement of the stated research questions and consequently lead to a number of conclusions and managerial implications which are as follows. BoxTehran, Iran.
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A systematic review of Internet banking adoption. Introduction The rapid expansion of information and communication technologies has had a tremendous impact intednet all areas interent human life Schneider, Banks spend a great deal of money on IB because it reduces inhernet relative to other forms of banking, and provides more timely and complete customer information Gerrard and Cunn- ingham, It also increases service quality which is necessary for survival in competitive markets Rouibah et al. However, achieving these goals requires customers to adopt IB. By identifying the expectations and wants of customers, and understanding their motivations for adopting or not adopting IB, bank managers and policy-makers can develop strategies to improve the take up of such technology.
This review paper aims to explore the literature on IB adoption and to classify these studies based on their perspectives on banking.
The paper will investigate different types of IB adoption studies, including different research perspectives, and the relationships among them. Finally, the paper will aim to offer suggestions for future research. The paper is organized as fol- lows. The research method is described in next section, and then we introduce the review of research on IB technology and clarify the different adoption perspectives in the online banking adoption literature. The paper concludes by highlighting weaknesses and gaps in the IB adoption literature that could be addressed by future research.
They provide an opportunity to step back and review the collective intelligence that has amassed from an often eclectic body of literature using different samples, methods and theories.