The 2008 crash has left all the established economic doctrines - equilibrium models, real business cycles, disequilibria models - in disarray. Part of the problem is due to Smith’s "veil of ignorance": individuals unknowingly pursue society’s interest and, as a result, have no clue as to the macroeconomic effects of their actions: witness the Keynes and Leontief multipliers, the concept of value added, fiat money, Engel’s law and technical progress, to name but a few of the macrofoundations of microeconomics. A good viewpoint to take bearings anew lies in comparing the post-Great Depression institutions with those emerging from Thatcher and Reagan’s economic policies: deregulation, exogenous vs. endoge- nous money, shadow banking vs. Volcker’s Rule. Very simply, the banks, whose lending determined deposits after Roosevelt, and were a public service became private enterprises whose deposits determine lending. These underlay the great moderation preceding 2006, and the subsequent crash.

The Economic Institutions of Capitalism

行銷硏究 : Marketing research

Service quality and customer satisfaction of a UAE-based airline: An empirical investigation

Banks must meet the needs of their customers in order to achieve sustainable development. The aim of this paper is to examine service quality dimensions, by using the modified SERVQUAL model, which can be used to measure customer satisfaction, and the effect of these dimensions (tangibles, responsiveness, empathy, assurance, reliability, access, financial aspect, and employee competences) on customer satisfaction in Jordanian banks. Data were gathered from 825 customers in the Jordanian banking sector. The sample data were statistically analyzed through exploratory factor analysis by the SPSS program to determine service quality perception and customer satisfaction. The results illustrate that the modified SERVQUAL Model extracted four subscales in the new model instead of eight in the initial model. The first subscale contains four dimensions—assurance, reliability, access and employee competences. The second subscale consists of two dimensions—responsiveness and empathy. The third and fourth subscales—financial aspect and tangibility—are separate factors. Further studies should consider the dimensions of access, financial aspect, and employee competences as essential parts of service quality dimensions with the other subscales, so as to improve wider customer satisfaction in the banking sector. In the authors’ opinion, the modified SERVQUAL model is useful for addressing customer satisfaction in the banking sector.

The Service Quality Dimensions that Affect Customer Satisfaction in the Jordanian Banking Sector

Purpose




The purpose of this paper is to identify factors influencing the adoption of mobile banking in India and develop and empirically validate a model explaining the behavioural intention to use mobile banking in the Indian banking sector




Design/methodology/approach




In this study, a model is developed and proposed to explain customers’ intention to use mobile banking The model comprises six constructs, namely, perceived ease of use, computer self-efficacy, social influence, perceived financial cost, security, and trust The model also describes the relationship between perceived ease of use and computer self-efficacy, as well as that between security and trust The proposed model was tested by using a survey method, with a sample of 855 bank customers from public, private, foreign, and cooperative banks in India Structural equation modelling analysis was performed with AMOS 160




Findings




The proposed theoretical model was found to predict, with statistical significance, the intention to use mobile banking, explaining 769 per cent of the variance in the dependent variable The results found that security, computer self-efficacy, perceived ease of use, and perceived financial cost, in that order of influence, affect customers’ intention to adopt mobile banking




Practical implications




The results obtained will help both academic researchers and practitioners explain, understand, and elucidate the status of mobile banking in India, as well as helping them formulate strategies to expedite the use of mobile banking




Originality/value




The adoption of mobile banking in India is in a nascent stage compared with developed countries such as the USA, the UK, and Finland, but it is expected to increase or surpass the rate of adoption of internet banking in those countries Further, only limited research to date has examined the adoption of mobile banking in India, especially the drivers and inhibitors of mobile banking adoption

Predicting the intention to use mobile banking in India

—In any business–to-customer (B2C) type of environment, satisfying a customer is the ultimate goal and objective. More often than not, it can be quite an issue. This is perhaps due to the fact that organizations sometimes do not really understand of what actually goes on in a customer's mind. As such, this predicament has provided as a challenging task to most business conglomerates that places strong emphasis on customer relations. Although many researches and studies were conducted on the actual working of the customer's mind, till today it is a still a mystery. Therefore, this research focused on the measurement of customer satisfaction through delivery of service quality in the banking sector in Malaysia. A quantitative research was used to study the relationship between service quality dimensions and customer satisfaction. Assurance has positive relationship but it has no significant effect on customer satisfaction. Reliability has negative relationship but it has no significant effect on customer satisfaction. Tangibles have positive relationship and have significant impact on customer satisfaction. Empathy has positive relationship but it has no significant effect on customer satisfaction. Responsiveness has positive relationship but no significant impact on customer satisfaction. The study highlights implications for marketers in banking industry for improvement in delivery of service quality.

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Service Quality Delivery and Its Impact on Customer Satisfaction in the Banking Sector in Malaysia

This study focuses on the adoption of retail internet banking among consumers in the Klang Valley, Malaysia and the impact of demographics factors on such adoption behavior. This study adopts a quantitative approach using surveys conducted at banks. The results indicate that while the hypotheses pertaining to gender, race, income, educational level and occupation were not supported but age is supported. Therefore, the current research indicates that the age of retail banking consumers affects the adoption of internet banking among Malaysian consumers. The result also suggests that consumers in the age group below 25 years old are the major contributor to the differences. Based on these findings, we conclude that younger consumers are more likely to adopt internet banking. Therefore, the result suggests implications for retail bankers in Malaysia to adopt appropriate strategies to encourage retail internet banking for other age categories of consumers in Klang Valley. By doing so, it enables the banks in Malaysia to save costs of maintaining physical distribution systems through providing bigger scale of Internet retail banking services.

Adoption of Retail Internet Banking: A Study of Demographic Factors

Previous research on the internationalization of small and medium enterprises (SMEs) explored the relationship between adoption of global orientation and competitive advantage, management attitude, and international knowledge and experience. However, there was a difference in opinion between those arguing that there is a positive relationship between these variables and others who contended that there is moderating effect of size on the internationalization. Within this context, this study sets out to further the discussion by comparing the global orientation of SMEs in Malaysia with their different level of size. In doing so, it draws upon the findings of survey of 300 internationalized enterprises located in northern region of Malaysia. The results suggest that size functions as moderating factor for internationalization only for relatively smaller firms. It has its biggest impact when relatively smaller SMEs acquire international knowledge and experience. They also note implications for managers and policy makers. 

	 

	Key words: Firm size, international knowledge and experience, competitive advantage, management attitude, index of internationalization.

The moderating effect of firm size: Internationalization of small and medium enterprises (SMEs) in the manufacturing sector

This paper investigates the level of customer satisfaction among the customers who fly with Air Asia, a budget airline in Malaysia. The factors which investigated are the price offered, pre-flight services, customer relationship management, cabin environment and in-flight services. The independent variable is customer satisfaction. A quantitative approach with Pearson correlation and multiple regression analyses were deployed to study the relationship between the independent variables and dependant variable. The findings reveal that there is no relationship between the price offered by Air Asia and the satisfaction level of the customers. The factors such as the pre-flight services, customer relationship management, cabin environment and in-flight services on Air Asia have shown positive significant relationship with customer satisfaction. It looks like that Air Asia customers are no longer view the price as an issue as they are already enjoying currently. The customers are now focusing their attention on the quality of pre-flight services, customer relationship management, cabin environment and in-flight services offered by Air Asia, which seems to be affecting their customer satisfaction levels. Therefore, the management of Air Asia Berhad should focus their resources towards delivering customer satisfaction.

Customer Satisfaction Delivery In Airline Industry In Malaysia: A Case of Low Cost Carrier

This paper investigates the level of customer satisfaction among the passengers who fly with Air Asia, a budget airline in Malaysia. The factors which investigated are the on-line services, third-party services, fare charging practices, advertisement and customer services. The independent variable which measured is customer satisfaction. A quantitative approach with a multiple regression analysis was deployed to study the relationship between the independent variables and dependant variable. The findings suggest that there is strong correlation found between the independent variables and the dependent variable as the correlation coefficient for all variables is found to be significant at 0.01 and 0.05 levels. The multiple regression analysis reveals that there is a significant positive relationship exist between on-line services and customer satisfaction; third-party services and customer satisfaction; advertisement and customer satisfaction. The factors such as the fare charging practices and customer services though show a positive relationship with customer satisfaction, but the relationship is not significant. It looks like that the customers are not motivated any further with the fare being charged by Air Asia as passengers are already enjoying. The passengers also are not concerned with the customer services provided by Air Asia as the fares paid are relatively very low. However, the passengers are very concern about the on-line services, third-party services and the advertisement used to communicate with them. Therefore, this study highlights the managerial implications for Air Asia Berhad to improve the on-line services, third-party services and misleading advertisements in order to deliver customer satisfaction continuously.

Jayaraman Munusamy

Papers

Service Quality Delivery and Its Impact on Customer Satisfaction in the Banking Sector in Malaysia

Adoption of Retail Internet Banking: A Study of Demographic Factors

The moderating effect of firm size: Internationalization of small and medium enterprises (SMEs) in the manufacturing sector

Customer Satisfaction Delivery In Airline Industry In Malaysia: A Case of Low Cost Carrier

An investigation of impact of service strategy on customer satisfaction in the budget airline industry in malaysia: a case study of air asia