Key Sustainable Factors of the Pawnbroking Industry: An Empirical Study in Taiwan
Abstract
:1. Introduction
2. Main Concepts
3. Study Methods
3.1. Participants and Data Collection
3.2. Data Analysis
- Step 1:
- Building a paired comparison matrix
- Step 2:
- Calculation of eigenvalues and eigenvectors
- Step 3:
- Consistency test
4. Results and Discussion
4.1. Study Results
4.2. Discussions
- (1)
- Feeling safe in the transaction
- (2)
- Renewing the contract
- (3)
- Legal certificate
- (4)
- More business customers
- (5)
- Credit checking
- (6)
- Simple process
5. Limitations and Further Research
6. Conclusions
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Conflicts of Interest
References
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Dimension | Factor | Description | Sources |
---|---|---|---|
A. Image | A1 CSR | CSR is the intermediary to achieving the sustainability of enterprises. | [32,36,47,49] |
A2 Legal certificate | Pawnshops with valid legality are preferred; the license must be issued by government. | [18,48] | |
A3 Positive reputation | Positive reputation represents a sustained competitive advantage. | [3,23,35,49,50] | |
B. Accessibility | B1 Simple processes | Loaning from pawnshops is a convenient and quick financial service without complicated processes. | [15,30,32,39] |
B2 Longer business hours | The pawnshops remain open during the hours that customers prefer. | [26,31,32] | |
B3 Credit checking | An extensive credit check is not required when customers provide collateral and access credit rapidly. | [26,33,39,41] | |
C. Customer Satisfaction | C1 Loan rate | The greater the interest rate, the more the pawnbroker is avoided. | [17,39,46,48] |
C2 Effective and quick service | Loaning from pawnshops is convenient, efficient, and without complicated processes. | [38,39] | |
C3 Renewing contract | Renewing loans is critical. | [39] | |
C4 Feel safe in the transaction | Pawn shops must equip suitable safety and other related facilities to make customers feel safe in the transaction because, in general, the mortgaged goods are valuable objects. | [46,52] | |
D. Capital Management | D1 Sufficient cash | Abundant capital is essential to a pawnshop who offers cash to its customers. Pawnshops provide loans secured by highly liquid assets. | [22,30,41] |
D2 More business customers | More and more SMEs or micro-enterprises come to pawnbrokers for investment. | [26,46] | |
D3 Finance access | Pawnbrokers are refused loans from formal financial organizations; therefore, private finance access or cash flow preparation is important. | [28] | |
E. Location | E1 Distance | Distance is the first reason for customers to choose the pawnshop. The distance between the pawnshop and their place of residence will affect their smooth access to the pawnshop. | [18,32,52] |
E2 Population | The locations of the pawnshops are influenced by the number of residents. | [18,37,40,42] | |
E3 Resident social level | AFSPs are more likely to locate where the population is poor, includes minorities, and is poorly educated. | [17,18,42,44] |
Score | Importance | Equivalent Judgement |
---|---|---|
1 | Equal | Both criteria are equally important |
3/ or 1/3 | Moderately | One criterion is moderately more or less important than the other |
5/ or 1/5 | Strong | One criterion is strongly more or less important than the other |
7/ or 1/7 | Very Strong | One criterion is very strongly more or important than the other |
9/ or 1/9 | Extreme | One criterion is extremely more or less important than the other |
2,4,6,8 | Intermediate Values | Compromise is needed sometimes |
Scale | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
R.I value | 0.00 | 0.00 | 0.58 | 0.90 | 1.12 | 1.24 | 1.32 | 1.41 | 1.45 | 1.49 |
Goal | Image | Accessibility | Customer Satisfaction | Capital Management | Location | |
---|---|---|---|---|---|---|
C.R. Value | 0.01357 | 0.00516 | 0.01618 | 0.02003 | 0.00358 | 0.02669 |
Dimension | Weight (Rank) | Key Sustainable Factors | Weight (Rank) | Integrated Ranking of Weight |
---|---|---|---|---|
Image | 0.1428 (4) | CSR | 0.2350 (3) | 0.0336 (13) |
Legal certificate | 0.4207 (1) | 0.0601 (7) | ||
Positive reputation | 0.3433 (2) | 0.0492 (9) | ||
Accessibility | 0.2057 (3) | Simple processes | 0.3794 (2) | 0.0780 (4) |
Longer business hours | 0.1599 (3) | 0.0329 (14) | ||
Credit checking | 0.4607 (1) | 0.0948 (3) | ||
Customer Satisfaction | 0.3024 (1) | Loan rate | 0.1199 (4) | 0.0363 (12) |
Effective and quick service | 0.1525 (3) | 0.0461 (10) | ||
Renewing contract | 0.2449 (2) | 0.0740 (5) | ||
Feel safe in the transaction | 0.4827 (1) | 0.1459 (1) | ||
Capital Management | 0.2487 (2) | Sufficient cash | 0.2628 (2) | 0.0654 (6) |
More business customers | 0.5580 (1) | 0.1388 (2) | ||
Finance access | 0.1793 (3) | 0.0446 (11) | ||
Location | 0.1004 (5) | Distance | 0.2055 (3) | 0.0206 (16) |
Population | 0.5476 (1) | 0.0550 (8) | ||
Resident social level | 0.2469 (2) | 0.0248 (15) |
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Hung, T.-C.; Lin, C.-Y. Key Sustainable Factors of the Pawnbroking Industry: An Empirical Study in Taiwan. Sustainability 2022, 14, 12669. https://doi.org/10.3390/su141912669
Hung T-C, Lin C-Y. Key Sustainable Factors of the Pawnbroking Industry: An Empirical Study in Taiwan. Sustainability. 2022; 14(19):12669. https://doi.org/10.3390/su141912669
Chicago/Turabian StyleHung, Tzu-Chiao, and Chieh-Yu Lin. 2022. "Key Sustainable Factors of the Pawnbroking Industry: An Empirical Study in Taiwan" Sustainability 14, no. 19: 12669. https://doi.org/10.3390/su141912669