Ebert Trust as the Key to Loyalty in Business-to-Consumer Exchanges

Trust Building Measures in the Banking Industry
2009
ISBN: 978-3-8349-8307-7
Verlag: Betriebswirtschaftlicher Verlag Gabler
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 198 Seiten, eBook

Tara Ebert investigates what trust building measures in the banking industry should comprise. The author presents new and analytical insights which can be employed to deduce better targeted marketing implications for consumer trust building by banks.

Dr. Tara Ebert promovierte bei Prof. Dr. Manfred Schwaiger am Institut für Marktorientierte Unternehmensführung der Ludwig-Maximilians-Universität München.

Zielgruppe

Research

Autoren/Hrsg.

Ebert, Tara

Inhaltsverzeichnis

1;Foreword;6
2;Preface;7
3;Table of Contents;9
4;List of Figures;11
5;List of Tables;14
6;List of Abbreviations;15
7;List of Symbols;17
8;1 Introduction;18
9;2 Consumer Trust as a Key to Organizational Success;22
9.1;2.1. Trust, Confidence, and Reliance – Distinguishing between the Terms;24
9.2;2.2. Definition, Conceptualization, and Possibilities of Steering Consumer Trust;27
9.2.1;2.2.1. Consumer General Trust as an Antecedent of Consumer-Specific Trust;27
9.2.2;2.2.2. Consumer-Specific Trust as an Attitude Construct;28
9.2.3;2.2.3. Steering of Consumer Trust;34
9.3;2.3. Relationship of Loyalty and Consumer Trust in Business;38
10;3 Trust Model for Analyzing Measures of Trust Building in theBanking Industry;40
10.1;3.1. Highlights of and Unclear Causalities in Trust Research;41
10.2;3.2. Models for Analyzing Trust Building;44
10.3;3.3. Meta-Analysis to Build a Trust Framework;47
10.3.1;3.3.1. Method of Analyzing Articles;47
10.3.2;3.3.2. Clusters and Key Variables in Trust Research;48
10.3.3;3.3.3. The Relevant Clusters in Each Trust Interaction (P2P, P2O, and O2O);53
10.3.4;3.3.4. Key Contributions of the Meta-Analysis;56
10.4;3.4. Relevance and Conceptualization of Clusters for B2C Trust Interactions;56
10.4.1;3.4.1. Relevant Clusters in B2C Trust Interactions;56
10.4.2;3.4.2. Moderators and Mediators in Structural Equation Modeling in Consumer TrustResearch;59
10.5;3.5. PLS as the Preferred Approach to Structural Equation Modeling;62
10.5.1;3.5.1. Types of Measurement Models in SEM;63
10.5.2;3.5.2. Decision Rules for and Validity of Reflective and Formative Measurement Models;66
10.5.3;3.5.3. Validation of Structural Equation Models;73
10.6;3.6. Measurement of Consumer Trust;74
10.7;3.7. Measurement of Loyalty as a Consumer Trust Consequence;76
10.8;3.8. Measurement of Reputation as a Consumer Trust Antecedent;77
10.8.1;3.8.1. Conceptualization of Reputation;78
10.8.2;3.8.2. Operationalization of Reputation;81
10.9;3.9. Measurement of Security as a Consumer Trust Antecedent;85
10.9.1;3.9.1. Conceptualization of Security;86
10.9.2;3.9.2. Operationalization of Security;92
10.10;3.10. Measurement of Personal Characteristics of Consumers and their Moderating Role;98
10.10.1;3.10.1. Satisfaction as a Moderator;98
10.10.2;3.10.2. Involvement as a Moderator;100
10.10.3;3.10.3. Trust Propensity as a Moderator;102
10.11;3.11. A Structural Equation Model for Analyzing Trust Building Measures in theBanking Industry;103
11;4 Research Design and Results;107
11.1;4.1. Data Collection and Sample;107
11.1.1;4.1.1. The Unstructured Expert Interviews;107
11.1.2;4.1.2. The Pre-Study: Online Questionnaire;107
11.1.3;4.1.3. The Main Study: CATI Interviews;109
11.2;4.2. Descriptive Results of the Main Study;111
11.3;4.3. Evaluation of the Quality of Measurement and Structural Equation Models;141
11.4;4.4. Examination of Hypothesized Relationships;143
12;5 Discussion, Summary, and Future Prospects;155
12.1;Previous research on trust models in the banking industry;155
12.2;The relationship between the trust dimensions;156
12.3;Effects of trust on loyalty;156
12.4;Influence of consumer satisfaction on the perception of trust building measures bybanks;158
12.5;Reputation as a direct trust antecedent in the banking industry;159
12.5.1;Trust building measures referring to the attractiveness of a bank;160
12.5.1.1;Measure 1: High quality employees (ranked 1st);160
12.5.1.2;Measure 2: Appearance of bank (ranked 5th);160
12.5.1.3;Measure 3: Appealing employer (ranked 18th);161
12.5.2;Trust building measures referring to the quality of a bank;161
12.5.2.1;Measure 4: Reliability of a bank (ranked 4th);161
12.5.2.2;Measure 5: Focus on client concerns (ranked 3rd);161
12.5.2.3;Measure 6: Innovativeness of a bank (ranked 6th);162
12.5.2.4;Measure 7: Good bank product assortment (ranked 7th);162
12.5.2.5;Measure 8: Quality of products/services (ranked 14th);162
12.5.2.6;Measure 9: Providing information (ranked 15th);162
12.5.2.7;Measure 10: Good value product/services (ranked 12th);163
12.5.3;Trust building measures related to bank performance;163
12.5.3.1;Measure 11: Good management of the bank (ranked 9th);163
12.5.3.2;Measure 12: Growth potential (ranked 19th);163
12.5.3.3;Measure 13: Economic stability (ranked 13th);163
12.5.3.4;Measure 14: Clear future vision (ranked 17th);164
12.5.3.5;Measure 15: Low business risk (ranked 16th);164
12.5.4;Trust building measures related to bank corporate responsibility;164
12.5.4.1;Measure 16: Preservation of the environment (ranked 10th);164
12.5.4.2;Measure 17: Not only pursuing profit goals (ranked 11th);165
12.5.4.3;Measure 18: Fairness (ranked 8th);165
12.5.4.4;Measure 19: Social behavior (ranked 2nd);165
12.6;Security as a direct trust antecedent and its deduced measures in the banking industry;165
12.6.1;Measures for communicating good intentions (strongest antecedent of a bank’s perceivedsecurity);166
12.6.2;Measures against opportunism (negative antecedent of a bank’s perceived security);167
12.6.3;No further measures to ensure discretion (no significant effects on a bank’s perceivedsecurity);168
12.6.4;Measures for communicating protection (antecedent of a bank’s perceived security);168
12.7;Conclusion – Trust building through the right combination of reputation and securitymeasures;169
12.8;Limitations of the work and directions for future research;169
12.8.1;Further industries and relationships in the same industry;169
12.8.2;Other countries;170
12.8.3;Other trust antecedents, consequences and empirically quantified measures;170
12.8.4;Enhanced measurement approaches to constructs;170
12.8.5;Dynamic approach to trust building;170
12.8.6;High correlations of constructs;171
12.8.7;Other research methods;171
12.8.8;The all-in-one trust question;171
13;Appendix;172
13.1;Expert interviews;172
13.1.1;1. Offenes, ungestütztes Experteninterview zu „Vertrauensbildenden Maßnahmen von Banken“;172
13.1.2;2. Offenes, ungestütztes Experteninterview zu „Vertrauensbildenden Maßnahmen von Banken“;173
13.1.3;3. Offenes, ungestütztes Experteninterview zu „Vertrauensbildenden Maßnahmen von Banken“;174
13.1.4;4. Offenes, ungestütztes Experteninterview zu „Vertrauensbildenden Maßnahmen von Banken“;175
13.1.5;5. Offenes, ungestütztes Experteninterview zu;176
13.2;Questionnaire with Descriptive Results (I);177
13.3;Questionnaire with Descriptive Results (II);178
13.4;Questionnaire with Descriptive Results (III);179
13.5;Correlations I;180
13.6;Correlations II;181
13.7;Correlations III;182
13.8;Correlations VI;183
13.9;Correlations V;184
13.10;Correlations VI;185
13.11;Correlations VII;186
13.12;Explorative factor analysis (over all constructs) (I);187
13.13;Explorative factor analysis (over all constructs) (II);188
13.14;Explorative factor analysis (over all constructs) (III);189
13.15;Factor analysis (security construct);190
13.16;Calculation of the rank of the formative indicators/measures;191
14;References;192

Consumer Trust as a Key to Organizational Success.- Trust Model for Analyzing Measures of Trust Building in the Banking Industry.- Research Design and Results.- Discussion, Summary, and Future Prospects.

Leseproben

4 Research Design and Results (S. 90-91)

This chapter will provide data about consumer trust in banks. Therefore, open response expert interviews, an online mail/web survey, and a Computer-Assisted Telephone Interviewing (CATI) are done to answer the research question and to test the hypotheses. The results gained through the main survey (400 completed interviews) will be presented and discussed. The results from the five expert interviews and the pre-study (74 completed questionnaires) were used to supplement the main study, but will not be described in this chapter. The discussion of the results is divided into four sections, data collection and sample, descriptive results of the main study, evaluation of the goodness of the model, and the testing of the hypotheses as well as trust building measures. The results were analyzed in respect of a German representative population survey.

4.1. Data Collection and Sample

To analyze trust building measures, three types of surveys were done: Expert interviews, an online questionnaire, and CATI. The following sections describe the pre and main studies’ chosen research designs.

4.1.1. The Unstructured Expert Interviews

The results of the expert interviews are especially important for the formative measurement to guarantee full operationalization, as well as to provide further important measures and antecedents of consumer trust that have not as yet been analyzed in trust research. The survey was conducted in an unstructured, face-to-face interview with five experts including a bank employee and bank customers.

The advantage of the nondirective interview is that, within the bounds of the topics of interest, the respondent is given maximum freedom to respond (MALHOTRA/BIRKS 2007, p. 381). Maximum freedom is required to acquire all the relevant trust building measures. In contrast, a semi-structured questionnaire might have guided the interviewee in a specific direction. Thus, the survey was an open response interview focusing on the (preliminary) question: What trust building measures does the banking industry utilize and what leads to mistrust?

4.1.2. The Pre-Study: Online Questionnaire

The indicators needed for the operationalization of the constructs were collected from the empirical studies and the expert interviews. The purpose of this pre-study was to pre-test the collected indicators and to enhance the developed theoretical model. Specifically, the research objectives were to: a) Optimize the research design, i.e. the questionnaire, in respect of its wording, understanding, and further aspects for the main study; and, b) Optimize the operationalization of the constructs in order to shorten the main study questionnaire.

The design of the questionnaire includes the following components: An introduction, identification of the respondents’ trust propensity regarding banks, an open question in which the respondents have to provide the name of a bank of trust and one with no trust. Furthermore, the respondents had to evaluate the degree of agreement with the various attributes of the bank concerning reputation, security, specific trust, customer satisfaction, loyalty, involvement, and demographics. The rating was done on a seven-point Likert scale31, because in literature a seven-point rating scale is recommended as an optimum (UNTERREITMEIER 2004, p. 102).

The survey was conducted by mailing an invitation to participate in an online questionnaire to approximately 150 bank customers at the beginning of August 2007. The sample procedure employed to select the interviewees was a mixture of convenience and snowball sampling technique, which is a nonprobability sampling technique (LEHMANN ET AL. 1998, p. 305). This technique is normally used in the exploratory stages of a research project or for the pretesting of a questionnaire (AAKER ET AL. 2007, p. 393).

The lack of e-mail addresses and the technique’s low costs also made it a suitable choice. The processing time required for the survey was about 30 minutes. The questions were also randomized to minimize effects due to the order of items (BÜHNER 2006, p. 63). 74 online questionnaires (approx. 50%) of the pre-study were fully completed.

Über Autor(innen)

Dr. Tara Ebert promovierte bei Prof. Dr. Manfred Schwaiger am Institut für Marktorientierte Unternehmensführung der Ludwig-Maximilians-Universität München.