Explaining the Mediating Role of Communication Quality in Relation

International SCIENTIFIC RESEARCH CENTER Journal of Business Economics and International Journal of Business Economics and Management Studies Vol. 6, No. 2, 2018, pp. 80-89. Management Studies ISSN 2348-3016 www.scientificrc.com

Explaining the Mediating Role of Communication Quality in Relation to Social Responsibility and Service Innovation with Customer loyalty in Tehran’s Refah Bank Branches Farhad Hanifi, Shahrzad Mahmoodi

Department of Business Management, E- Campus, Islamic Azad University, Tehran, Iran

Abstract

The purpose of this study is to investigate the relationship between social responsibility and innovation of banking services with loyalty of customers of Refah Bank through the mediating role of communication quality. From purpose viewpoint, this is an applied research, and from data collection viewpoint, this is descriptive- survey. The research population included all customers who use services provided by Refah Bank in the city of Tehran. Due to the dispersion of the statistical population, cluster sampling method was used to select the branches. Based on the unlimited population size formula, sample size was estimated 384 at 95% confidence level with a standard deviation of 0.5; therefore, 384 questionnaires were distributed. The structural equation modeling techniques have been used to conduct the necessary analyses. The research findings showed that social responsibility and banking service innovation have a positive and significant effect on customer loyalty. Also, the mediating role of communication quality in the relationship of social responsibility and banking service innovation with customer loyalty in Tehran’s Refah Bank branches was confirmed.

Keywords: Communication Quality, Social Responsibility, Service Innovation, Customer Loyalty

Introduction

Customer loyalty is one of the most important factors in determining the success of organizations in business and profitability. Therefore, the creation and implementation of measurement and monitoring systems of customer satisfaction as the most important indicator in regard with improving performance are considered to be one of the basic requirements of today’s organizations (Martinuzzi, 2012). In this regard, organizations must be able to provide new, unique and competitive products and services in today’s changing markets, so that they can place themselves in today’s dynamic and complex markets and gain competitive advantage for themselves. The acquisition and exploitation of new experiences and knowledge to create continues changes and fundamental developments in enterprises, and on the other hand, the exploration and exploitation of opportunities in the form of new goods and services as a capability for individuals and enterprises, are proposed as the central objectives of theories of learning organization and the pattern of business enterprises (Stanaland et al., 2011).

On the other hand, the banking industry is significantly investing in activities relate to corporate social responsibility. The desire to invest in social responsibility shows that this is not a cost, restriction or the right act to do, but rather a source of competitive advantage (Behrouzi et al., 2013). Addressing social responsibility increases loyalty among customers (Jung & Yoon, 2013).

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Although social responsibility, loyalty and service innovation have a long history in the world, unfortunately in Iran, the importance and status of this sector have not been addressed in the fields of science and domestic business policy. In this regard, by examining the performance of Refah Bank, we can see the volatile and controversial trend of this sector over the past few years; while experts consider the potential of social responsibility and expansion of innovation in services based on the expansion of customers’ satisfaction and loyalty improvement in terms of better performance more than this. However, understanding the role of service innovation in customer satisfaction has a significant impact on the successful performance and development of this bank. In this research, it is tried to examine the impact of social responsibility and service innovation on customers’ loyalty in Refah bank, and it seeks to provide strategies for developing this communication and highlighting the role of service innovation in Refah bank. Therefore, the main issue is how social responsibility and service innovation are related to customers’ loyalty in Refah bank through the role of communication quality.

Theoretical framework and research background

Social responsibility

Corporate social responsibility is a concept of particular activity or social responsibility on a voluntary base (Lai et al., 2010). Corporate social responsibility is compulsory in terms of ethical responsibilities. Corporate social responsibility goes beyond the economic and legal obligations of a company to avoid social harms, even when the business does not directly benefit. Altruistic corporate social responsibility is humanitarian which includes good involvement of various social stakeholders, even if the time or money commitment sacrifices part of the business profitability. A general definition of corporate social responsibility that has been approved is not yet verified. Corporate social responsibility is a concept in which the corporates inculcate social and environmental concerns in their business operations, and it is defined in a voluntary manner in regard with engagement with its shareholders. Additionally, corporates social responsibility aims to achieve business success that rewards ethical values and respect for individuals, communities and natural environment (Barnes, 2012).

Customer loyalty

The concept of customer loyalty and creation of loyal customers in the business context is described as “creating a customer commitment to deal with a particular organization and purchasing goods and services more frequently” (Javanmard & Soltanzadeh, 2009). Loyalty is defined as a deep commitment to repurchase or patronize a preferred good or service in future (Allen Broyles et al., 2011). In other words, customers’ desire to select a product or business from other products for meeting a particular need is called loyalty (Haghighi et al., 2003).

Jacoby and Chestnut (1978) summarized the definition of loyalty and created a conceptual definition. According to their definition, loyalty is an introduction to customers’ behavioral responses in choosing an option from several options in a time frame that can be shown as a function of decision-making process (Chang, 2005).

Service innovation

Innovation refers to creativity which has come to the fore. In other words, innovation means a creative thinking realized in organizations. Innovation is to provide new product, process and service to the market. Innovation is the use of mental abilities to create a new thought or concept (Fung et al., 2010). Service innovation is to adopt an opinion or behavior that is new to the industry, market or general environment of an organization (Mirkamali, 2011). Schumpeter summarizes innovation in five ways: invention of a new product, invention of a new production method, opening of the new market, opening of a new source for providing raw materials or semi- fabricated goods, and management of a new organization in an industry; the first two groups belong to technological innovation, and the last three groups are called organization’s innovation. Innovation is categorized based on the type of change of classification, and classification based on the intensity and speed of change (Rosell & Lakemond, 2012).

Communication quality

Communication quality is recognized as a set of intangible values leading to long-term relationships expected between parties (Adeyanju, 2012). Communication quality is an information system that tracks customer relationship with the company and allows employees to instantly and promptly extract information about customers, including past and recent sales, service records and important registries or contacts in regard with unresolved issues. A customer relationship management system stores all information about its users in a

International Journal of Business Economics and Management Studies Volume 6, Issue 2, pp. 80-89 database. The main objective of the communication quality is to maximize the value of customers’ life span in the organization. A customer relationship management can be defined as a business strategy that results in increased revenue and profit through customer satisfaction (Amaladoss & Manohar, 2013).

Empirical background of research

Mojoudi et al. (2015) examined the impact of corporate social responsibility on customer loyalty and showed that corporate social responsibility has a positive and direct effect on perceived service quality and satisfaction. The results also showed a positive relationship between satisfaction and behavioral and attitudinal loyalty in bank’s customers. This research provides results in regard with corporate social responsibility and perceived service quality that can be used by banks’ managers. Fazlzadeh (2015) investigated the impact of corporate social responsibility on competitiveness with respect to the moderating role of intellectual capital and innovation. The results of estimating data indicated that corporate social responsibility can affect competitiveness. In addition to this direct effect, it can also affect competitiveness through the channel of innovation and intellectual capital because the research results indicated that corporate social responsibility has a direct and significant impact on innovation and intellectual capital. Moon et al., (2015) investigated the impact of social responsibility on brand loyalty and showed that legal and ethical responsibilities and customer loyalty are connected to each other through the bridge of functional and symbolic images. More clearly, the relationship between loyalty and customers’ perceived symbolic images has been recognized more robust than the relationship with functional image. Hence, this bank can have more loyal customers by strengthening these mental structures. In a research titled corporate social responsibility and innovation in customer loyalty, Yeh (2015) showed that social responsibility has a positive and significant effect on customer loyalty; also, service innovation has positive effects on customer loyalty.

Hypotheses and conceptual model of research

The practical application of this research model to other models is to provide guidance in regard with factors affecting customer loyalty in order to enhance service innovations in the business environment so that they can create a well-known image among domestic banks based on social responsibility. In other words, due to high competition in the banking industry, customers are looking for competitive advantage based on the appropriate communication quality, and in order to increase their communication quality, they tend towards banks that their initial services enjoy good service innovation.

social

responsibilit H1

communication H5 customer quality H6 loyalty

H2 service innovation

Figure 1. Conceptual model derived from Yeh model (2015)

Based on the conceptual model, the research hypotheses can be presented as follows:

1. Social responsibility has a direct and significant relationship with customer loyalty. 2. Service innovation has a direct and significant relationship with customer loyalty. 3. Social responsibility has a direct and significant relationship with communication quality. 4. Service innovation has a direct and significant relationship with communication quality. 5. Communication quality plays a mediating role in relation to social responsibility and customer loyalty.

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6. Communication quality plays a mediating role in relation to service innovation and customer loyalty. Research methodology

Table 1 shows a summary of different dimensions and aspects of methodology used in this research.

Table 1. Research methodology

Research pillar Choosing research

Philosophy Positivism Type From purpose viewpoint: applicable / from conclusion viewpoint: explanatory / from approach viewpoint: quantitative Strategy Survey Scope Place: Tehran’s Refah Bank Time: Second half of 2017 Population Customers of Tehran’s Refah Bank Sample size Unlimited population, sample size=384 based on Morgan table Data collection - A library study including books, research papers and related websites method - Specialized questions with standard social responsibility questionnaire (5 questions) - Service innovation (7 questions), customer loyalty (10 questions) and communication quality (8 questions) - General questions with 5 questions related to gender, age, education, occupation, and income Data analyzing - Descriptive statistical analysis method - Inferential statistical analysis (using SPSS and LISREL) - Investigating data normality using Kolmogorov-Smirnov test - Analysis of relationships among variables using structural equations test - Model fit testing using structural equation test - Friedman test for ranking variables Assessing data - Content and face validity (using expert opinions and standard questionnaire) collection tools - Structural validity (based on confirmatory factor analysis: factor loading is more than 0.4 in all cases) - Reliability based on Cronbach’s alpha coefficient (social responsibility: 0.76), Service innovation: 0.88, customer loyalty: 0.79, communication quality: 0.91) Source: The researcher

The results of general questions related to the demographic features of respondents showed that 27.6% women and 72.39% men were among respondents. 0.5% of the respondents hold diploma degree, 15.1% associate degree, 31.77% B.A degree, and 47.13% of respondents hold M.A or Ph.D. degree, or were Ph.D. students. Also, 17.44% of the respondents have managerial occupation; 34.11% are specialists and experts; 25.52% are executives, and 21.35% are housewives. 20.57% are 30 and younger; 24.47% are 31-40 years old; 24.47% are 41-50 years old, 30.46% are 51 and older. The results related to the frequency of average income during the month showed that 25.52% of respondents earn less than 1500000 tomans; 24.68% between 1500000 and 3000000 tomans; 29.47% between 3000000 and 4500000 tomans, and 16.66% earn more than 4500000 tomans monthly.

Descriptive study of research variables

To describe the research variables, dispersion and central indicators have been used which are discussed below (Table 2).

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Table 2. Descriptive indicators for dimensions of research variables

Research variable Mean Standard deviation Variance

Social responsibility 3.612 0.788 0.6209 Service innovation 3.53 0.778 0.605 Customer loyalty 3.57 0.827 0.683 Communication quality 3.69 0.689 0.474 Source: The researchers’ calculations

Based on the data in Table 2, the dispersion index related to the variables is visible. The highest mean is related to the component of communication quality with the mean of 3.69. The lowest mean is related to the component of service innovation with the mean of 3.53.

Research findings

First of all, it is necessary to examine the normality of data distribution. For this purpose, the Kolmogorov- Smirnov test has been used. In this test, the null hypothesis reflects the normality of data. The results are shown in Table 3; data distribution is normal.

Table 3. Results of Kolmogorov-Smirnov test to determine the normality of data distribution

Research variables Kolmogorov-Smirnov Significance level Normality hypothesis statistic Social responsibility 1.427 0.0683 Normal Service innovation 1.305 0.0774 Normal Customer loyalty 1.449 0.0698 Normal Communication quality 1.634 0.0548 Normal Source: The researchers’ calculations

Data analysis method

Another group of findings of this research is related to the test of structural pattern and research hypotheses. For this purpose, path coefficient and t-value statistic were applied. The path coefficient indicates the contribution of each predictor variable in the explanation of the variance of criterion variable. The t-value also shows significance level at the 95% confidence level. In this study, LISREL 8.8 has been used.

Testing hypotheses

Table 4 shows the results of the structural model in regard with the main and sub hypothesis of the research in the standard estimation as well as the significant coefficients.

Table 4. Results obtained from testing research hypotheses

Research hypotheses Path t-statistic Significance of coefficient relationships Social responsibility has a positive effect on customer 0.32 2.22 Significant loyalty. Service innovation has a positive effect on customer 0.31 4.40 Significant loyalty. Social responsibility has a positive effect on 0.45 3.22 Significant communication quality. Service innovation has a positive effect on 0.32 2.22 Significant communication quality. Social responsibility has a positive effect on 0.45 3.22 Significant communication quality Communication quality has a positive effect on 0.38 3.43 Significant customer loyalty. Social responsibility has a positive effect on customer loyalty through communication quality.

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a:54.0 b: 54.0 :545.. 54..5 :

√ ( ) ( ) Service innovation has a positive effect on 0.32 2.22 Significant communication quality. Communication quality has a positive effect on 0.38 3.43 Significant customer loyalty. Service innovation has a positive effect on customer loyalty through communication quality. a:54.0 b: 54.0 :54500 54500 :

√ ( ) ( ) Source: The researchers’ calculations

According to the results shown on the Table 4, the research hypotheses can be analyzed as follows:

Hypothesis 1: Social responsibility has a significant relationship with customer loyalty. According to the findings, changes in the relationship of social responsibility with customer loyalty occur with a path coefficient of 0.32 and significance level of 2.22; therefore, the greater the social responsibility, the better the customer loyalty.

Hypothesis 2: Service innovation has a significant relationship with customer loyalty. According to the findings, changes in the relationship of service innovation with customer loyalty occur with a path coefficient of 0.31 and significance level of 4.40, and this hypothesis is confirmed.

Hypothesis 3: Social responsibility has a significant relationship with communication quality. According to the findings, changes in the relationship of social responsibility with communication quality occur with a path coefficient of 0.45 and significance level of 3.22, which is more than 1.96.

Hypothesis 4: Service innovation has a significant relationship with communication quality. According to the findings, changes in the relationship of service innovation with communication quality occur with a path coefficient of 0.58 and significance level of 2.22, and this hypothesis is confirmed; therefore, the more the use of service innovation, the better the communication quality.

Hypothesis 5: Social responsibility has a significant relationship with customer loyalty through communication quality. Sobel test can be used to investigate the mediating role of communication quality in the relationship between social responsibility and customer loyalty. In the Sobel test, Z-value is obtained through the following formula: if this value is more than 1.96, the role of mediating variable will be significant at the 95% confidence level.

√

In this formula, a: path coefficient value between independent variable and mediator b: path coefficient value between mediator and dependent variable

: The standard error of path between independent variable and mediator

The standard error of path between mediator and dependent variable Z-value is 3.1005 in this test, which is more than 1.96; therefore, this hypothesis is confirmed, and it can be concluded that communication quality plays the role of mediator in relationship with social responsibility and customer loyalty.

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Service innovation has a significant relationship with customer loyalty through communication quality. Sobel test was used to investigate the mediating role of communication quality in the relationship with social responsibility and customer loyalty. Z-value is 3.679; therefore, this hypothesis is confirmed.

Table 6. Goodness of fit indices in research model

Fit index Pattern value Desired value Result

GFI1 0.95 > 0.90 Appropriate fit AGFI2 0.83 > 0.7 Appropriate fit NFI3 0.91 > 0.90 Appropriate fit IFI4 0.95 > 0.90 Appropriate fit CFI5 0.91 > 0.90 Appropriate fit RMSEA 0.054 > 0.05 Appropriate fit Source: The researchers’ calculations

According to the Table 6 and values of all indicators, it can be stated that the model has an appropriate fit, because as it can be seen, the indicators are in acceptable level, which indicates the appropriateness of measurement model; in other words, the model and total framework of this research are significant and acceptable.

Friedman test

Friedman test was used in this study to prioritize the variables of social responsibility, service innovation and communication quality based on customer loyalty.

The result of the Friedman test consists of two outputs. The first one (Table 7) indicates the value of Chi-square statistic, degree of freedom and significance level based on the number of data for each variable, respectively.

Table 7. Investigating Friedman test indicators

Sample size Degree of freedom Chi-square statistic Significance level

384 2 26.694 0.000

Source: The researchers’ calculations

Since the significance level is less than 0.05, the null hypothesis is rejected, and the claim of rank sameness (priority) of these sub-components is not accepted.

The second output (Table 8) is a descriptive statistic that shows the mean related to the ranks of each variable.

Table 8. Investigating Friedman test indicators

Results of Friedman test

Variable Achieved mean Rank

Social responsibility 2.874 2 Communication quality 2.781 3

1 Goodness of Fit Index 2 Adjusted Goodness of Fit Index 3 Normed Fit Index 4 Incremental Fit Index 5 Comparative Fit Index

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Service innovation 3.141 1 Source: The researchers’ calculations

Based on the Friedman test for ranking according to dependent variable, at 95% of confidence level, the factors affecting customer loyalty included service innovation, social responsibility and communication quality which ranked 1 to 3 respectively.

Conclusion

The purpose of this study was to explain the mediating role of communication quality in relation to social responsibility and banking services innovation with customer loyalty in Tehran’s Refah Bank branches. Based on the tests, the results can be summarized as follows: the first hypothesis of the research suggesting that social responsibility has a significant relationship with customer loyalty was confirmed. Farzinpour et al. (2017) and also Yeh (2015) concluded that there is a direct and significant relationship between social responsibility and customer loyalty. Therefore, it can be said that this result indicates that social responsibility is strengthened through providing better services to enhance customer support. The second hypothesis of the research suggesting that service innovation has a significant relationship with customer loyalty was also confirmed. Zarepour et al. (2010) and also Yeh (2015) concluded that there is a positive relationship between service innovation and customer loyalty. Therefore, it can be said that interactive and adaptive behaviors of customers create riches for service providers because customers are more willing to adapt to changes in services and test new products and services, and the service provider also create new services in future based on their expectations. The third hypothesis of the research suggesting that social responsibility has a significant relationship with communication quality was also confirmed. Azimi & Ganji (2016) and also Yeh (2015) concluded that there is a positive relationship between social responsibility and communication quality. Therefore, it can be said that although most customers have a lot of information about service providers and their relative value, many are interested and willing to participate in such relationships with other customers in such valuation; therefore, customers who are aware of banks’ social responsibility initiatives find positive behavioral intentions and attitudes to the bank’s services, which in turn guarantees social responsibility programs and significantly improves the bank image in regard with providing services. The fourth hypothesis of the research suggesting that service innovation has a significant relationship with communication quality was also confirmed. Yeh (2015) concluded that there is a positive relationship between service innovation and communication quality. Therefore, it can be said that service innovation should have unique advantages and value higher than previous services or provide a kind of new financial superiority, which requires development and use of customer competencies as well as their involvement; this requires a modern communication infrastructures so that managers can take part in market and customer talks. The fifth and sixth hypotheses of this research suggesting that social responsibility has a significant relationship with customer loyalty through communication quality, and also service innovation has a significant relationship with customer loyalty through communication quality were confirmed. Yeh (2015) also concluded that social responsibility affects customer loyalty through communication quality. Therefore, it can be said that engagement and raising the quality of communication with customers who create value for service providers can multiply the effectiveness of social responsibility and service innovation in attracting customers. Hence, based on the research findings, managers of Tehran’s Refah bank branches are suggested to:

- They should focus on enhancing customer loyalty by allocating more marketing budgets to the field of corporate social responsibility. Refah Bank branches can increase their social responsibility measures, namely social support by addressing the following activities such as contributing to humanitarian activities (including helping victims of disruptive incidents such as floods, earthquakes, support for anti-drug and addiction treatment campaigns, and support for NGOs, etc.). - Executive directors of Refah Bank branches should make more efforts to improve the quality and create innovation among other banks. Therefore, it can make significant advancements in creating more innovative services to consider training courses for employees in order to properly fulfill the desired job and provide accurate and complete information to the client, use employees’ opinions in providing innovative services, as well as use customers’ knowledge and information with an open innovation approach to exchange knowledge between the bank and customer. - They should enhance communication quality by raising their social power so that they can attract more customers to banks.

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