The Effects of Service Quality Performance on Customer Satisfaction for Non-Banking Financial Institutions in an Emerging Economy

This study aims to explore the effects of service-quality dimensions on the customer satisfaction of non-banking financial institutions in an emerging economy by adopting the renowned SERVPERF model. To verify the proposed model, data was collected from thirteen non-banking financial institutions in...

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Bibliographic Details
Published in:International journal of financial studies 2023-03, Vol.11 (1), p.33
Main Authors: Wang, Cheng-Kun, Masukujjaman, Mohammad, Alam, Syed Shah, Ahmad, Ismail, Lin, Chieh-Yu, Ho, Yi-Hui
Format: Article
Language:English
Subjects:
Bangladesh
Banking industry
Banks
Banks (Finance)
Capital markets
Corporate image
Customer satisfaction
Customer services
Economic aspects
Economic growth
Emerging markets
Financial institutions
Financial services
Hypotheses
Literature reviews
NBFI
Perceptions
Quality management
Quality of service
service quality
SERVPERF
Stock exchanges
Surveys
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Summary:This study aims to explore the effects of service-quality dimensions on the customer satisfaction of non-banking financial institutions in an emerging economy by adopting the renowned SERVPERF model. To verify the proposed model, data was collected from thirteen non-banking financial institutions in Bangladesh using a questionnaire survey with a purposive random sampling method. Through the Smart PLS 2 software, the partial least squares structural equation modelling approach was used to analyze the collected data. Research findings reveal that, among the six dimensions of the revised SERVPERF model, assurance, reliability, responsiveness and tangibility have significant effects on customer satisfaction, but accessibility and empathy do not for the non-banking financial institutions in Bangladesh. According to the research results, implications and suggestions have been discussed for non-banking financial institution managers.
ISSN:2227-7072
2227-7072
DOI:10.3390/ijfs11010033