Effect of Corporate Social Responsibility on Consumer Satisfaction and Consumer Loyalty of Private Banking Companies in Peru
Abstract
:1. Introduction
2. Theoretical Framework and Hypothesis
2.1. Corporate Social Responsibility
2.2. Customer Satisfaction and Customer Loyalty
2.3. Customer Trust as a Mediating Factor between Customer Satisfaction and Customer Loyalty
2.4. Customer Trust as a Mediating Factor between Corporate Social Responsibility and Customer Loyalty
3. Methodology
3.1. Research Design and Sample
3.2. Instrument
3.3. Sample
3.4. Data Analysis
4. Results
4.1. Demographic Data
4.2. Reliability and Validity
4.2.1. Reliability
4.2.2. Validation with SEM-PLS
4.3. Composite Reliability
4.4. Discriminant Validity Using Fornell-Larcker Criterion
4.5. Discriminant Validity Using Heterotrait-Monotrait Ratio (HTMT)
4.6. Bootstrapping
4.7. Goodness of Fit (GoF)
4.8. Test of Hypothesis
5. Discussion and Conclusions
6. Implications
6.1. Theoretical Implications
6.2. Managerial Implications
6.3. Limitations and Future Research Directions
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Conflicts of Interest
Appendix A. Questionnaire to Evaluate the Influence of Corporate Social Responsibility in Consumer Satisfaction and Consumer Loyalty of Private Banking Companies in Peru
YES | NO | |
I have freely decided to participate in this study | ||
I understand that my participation is voluntary | ||
I have received information about the objectives of the present study |
N° | Questions | Alternatives |
1 | Gender | ◯ Female ◯ Male |
2 | How old are you? | I am ______ years old |
3 | What country do you live in? | |
4 | What is your occupation? | Study Work Study and Work Other (specify) |
5 | Do you have at least one bank account? | Yes No |
- (1)
- Strongly disagree
- (2)
- Disagree
- (3)
- Neither Agree nor Disagree
- (4)
- Agree
- (5)
- Strongly agree
1 | 2 | 3 | 4 | 5 | ||
Corporate Social Responsibility | ||||||
6. | This bank helps to solve the social problem | |||||
7. | This bank plays a role in society beyond the economic benefits generation | |||||
8. | This bank contributes money to cultural and social events (e.g., music, sports) | |||||
9. | This bank uses part of its budget for donations and social projects to advance the situation of the most unprivileged groups of the society | |||||
10. | This bank is concerned with improving the general well-being of society | |||||
11. | This bank is concerned with respecting and protecting the natural environment | |||||
Customer Satisfaction | ||||||
12. | This bank helps to solve social problem | |||||
13. | This bank plays a role in society beyond the economic benefits generation | |||||
14. | This bank contributes money to cultural and social events (e.g., music, sports) | |||||
15. | This bank uses part of its budget for donations and social projects to advance the situation of the most unprivileged groups of the society | |||||
16. | This bank is concerned with improving the general well-being of society | |||||
17. | This bank is concerned with respecting and protecting the natural environment | |||||
Trust | ||||||
18. | Our organization knows what items of plastic waste can be recycled | |||||
19. | Whether our organization recycles plastic waste is entirely up to us | |||||
20. | Whether our organization recycles plastic waste effectively is entirely within our control | |||||
Loyalty | ||||||
21. | Our organization knows what items of plastic waste can be recycled | |||||
22. | Whether our organization recycles plastic waste is entirely up to us | |||||
23. | Whether our organization recycles plastic waste effectively is entirely within our control | |||||
24. | Our organization knows what items of plastic waste can be recycled | |||||
25. | Whether our organization recycles plastic waste is entirely up to us |
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Demographic | Specifications | Counts | Proportion (in %) |
---|---|---|---|
Gender | Female | 210 | 53.7% |
Male | 181 | 46.3% | |
Age | 18–25 years | 327 | 83.6% |
26–33 years | 21 | 5.4% | |
34–41 years | 13 | 3.3% | |
42–49 years | 15 | 3.8% | |
50–57 years | 10 | 2.6% | |
58–64 years | 5 | 1.3% | |
Occupation | Studying | 189 | 48.34% |
Working | 51 | 13.04% | |
Studying and Working | 11 | 36.57% | |
Other | 3 | 2.05% |
Scale–Item | Factorial Weight | Cronbach’s Alpha | Composite Reliability | Extracted Variance |
---|---|---|---|---|
Corporate Social Responsibility | 0.909 | 0.929 | 0.687 | |
This bank helps to solve social problem | 0.829 | |||
This bank plays a role in society beyond the economic benefits generation | 0.865 | |||
This bank contributes money to cultural and social events (e.g., music, sports) | 0.787 | |||
This bank uses part of its budget for donations and social projects to advance the situation of the most unprivileged groups of the society | 0.817 | |||
This bank is concerned with improving the general well-being of society | 0.847 | |||
This bank is concerned with respecting and protecting the natural environment | 0.825 | |||
Customer satisfaction | 0.906 | 0.930 | 0.727 | |
This bank establishes procedures to comply with customers’ complaints | 0.842 | |||
This bank treats its customers honestly | 0.880 | |||
This bank has employees who offer complete information about corporate products/services to customers | 0.891 | |||
This bank use customer satisfaction as an indicator to improve product or services marketing | 0.797 | |||
This bank makes an effort to know customer needs | 0.851 | |||
Trust | 0.901 | 0.938 | 0.834 | |
Our organization knows what items of plastic waste can be recycled | 0.902 | |||
Whether our organization recycles plastic waste is entirely up to us | 0.928 | |||
Whether our organization recycles plastic waste effectively is entirely within our control | 0.909 | |||
Loyalty | 0.936 | 0.951 | 0.796 | |
I am a loyal customer of this bank | 0.887 | |||
I intend to remain a customer of this bank | 0.882 | |||
I am likely to say positive things about this bank | 0.916 | |||
I will recommend this bank to my family members and friends | 0.899 | |||
I will recommend this bank if asked by others | 0.876 |
Scale | CSR | Satisfaction | Trust | Loyalty |
---|---|---|---|---|
CSR | 0.829 | |||
Satisfaction | 0.689 | 0.853 | ||
Trust | 0.741 | 0.724 | 0.913 | |
Loyalty | 0.636 | 0.770 | 0.701 | 0.892 |
Scale | CSR | Loyalty | Satisfaction | Trust |
---|---|---|---|---|
CSR | ||||
Loyalty | 0.155 | |||
Satisfaction | 0.277 | 0.126 | ||
Trust | 0.264 | 0.107 | 0.889 |
Scale | Original Simple | Mean Sample | Standard Deviation | t-Statistics | p-Value |
---|---|---|---|---|---|
CSR | 0.461 | 0.458 | 0.056 | 8.235 | 0.000 |
Satisfaction | 0.407 | 0.410 | 0.052 | 7.774 | 0.000 |
Trust | 0.553 | 0.551 | 0.049 | 11.302 | 0.000 |
Loyalty | 0.300 | 0.302 | 0.044 | 6.775 | 0.000 |
Saturated Model | Estimated Model | |
---|---|---|
SRMR | 0.054 | 0.054 |
d_ULS | 0.554 | 0.554 |
d_G | 0.342 | 0.342 |
Chi-Square | 823.053 | 823.053 |
NFI | 0.848 | 0.848 |
Scale | Original Simple | Mean Sample | Standard Deviation | t-Statistics | p-Value |
---|---|---|---|---|---|
CSR → Trust | 0.461 | 0.458 | 0.056 | 8.235 | 0.000 |
CSR → Loyalty | 0.138 | 0.138 | 0.023 | 6.040 | 0.000 |
Satisfaction → Trust | 0.407 | 0.410 | 0.052 | 7.774 | 0.000 |
Satisfaction → Loyalty | 0.675 | 0.676 | 0.034 | 20.107 | 0.000 |
Trust → Loyalty | 0.300 | 0.302 | 0.044 | 6.775 | 0.000 |
Scale | Original Simple | Mean Sample | Standard Deviation | t-Statistics | p-Value |
---|---|---|---|---|---|
Satisfaction → Trust → Loyalty | 0.138 | 0.138 | 0.023 | 6.040 | 0.000 |
CSR → Trust → Loyalty | 0.300 | 0.302 | 0.044 | 6.775 | 0.000 |
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Leclercq-Machado, L.; Alvarez-Risco, A.; Esquerre-Botton, S.; Almanza-Cruz, C.; de las Mercedes Anderson-Seminario, M.; Del-Aguila-Arcentales, S.; Yáñez, J.A. Effect of Corporate Social Responsibility on Consumer Satisfaction and Consumer Loyalty of Private Banking Companies in Peru. Sustainability 2022, 14, 9078. https://doi.org/10.3390/su14159078
Leclercq-Machado L, Alvarez-Risco A, Esquerre-Botton S, Almanza-Cruz C, de las Mercedes Anderson-Seminario M, Del-Aguila-Arcentales S, Yáñez JA. Effect of Corporate Social Responsibility on Consumer Satisfaction and Consumer Loyalty of Private Banking Companies in Peru. Sustainability. 2022; 14(15):9078. https://doi.org/10.3390/su14159078
Chicago/Turabian StyleLeclercq-Machado, Luigi, Aldo Alvarez-Risco, Sharon Esquerre-Botton, Camila Almanza-Cruz, Maria de las Mercedes Anderson-Seminario, Shyla Del-Aguila-Arcentales, and Jaime A. Yáñez. 2022. "Effect of Corporate Social Responsibility on Consumer Satisfaction and Consumer Loyalty of Private Banking Companies in Peru" Sustainability 14, no. 15: 9078. https://doi.org/10.3390/su14159078