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Customer satisfaction with socially responsible investing initiatives : The influence of perceived financial and non-financial quality

Nilsson, Jonas; Jansson, Johan LU ; Isberg, Sofia and Nordvall, Anna-Carin (2014) In Journal of Financial Services Marketing 19(4). p.265-276
Abstract
During the last decade, socially responsible investment (SRI) initiatives have grown to become a mainstream financial service in many countries. However, to date, only a few studies focus on understanding the final investor of such initiatives. This article focuses on one particularly overlooked aspect of SRI behavior; that of customer post-purchase satisfaction. A theoretical model of satisfaction with SRI-profiled mutual funds is developed and tested. The results indicate that perceived financial performance of the SRI-profiled mutual fund is the most important predictor of customer satisfaction. However, perceived environmental, social and governance (ESG) performance also had a positive impact on satisfaction for the SRI mutual fund.... (More)
During the last decade, socially responsible investment (SRI) initiatives have grown to become a mainstream financial service in many countries. However, to date, only a few studies focus on understanding the final investor of such initiatives. This article focuses on one particularly overlooked aspect of SRI behavior; that of customer post-purchase satisfaction. A theoretical model of satisfaction with SRI-profiled mutual funds is developed and tested. The results indicate that perceived financial performance of the SRI-profiled mutual fund is the most important predictor of customer satisfaction. However, perceived environmental, social and governance (ESG) performance also had a positive impact on satisfaction for the SRI mutual fund. On the basis of these results, it is argued that although ESG quality is important to customers, marketers of SRI initiatives should primarily focus on the conventional quality attributes such as financial performance, as a good ESG record alone is unlikely to generate customer satisfaction. (Less)
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author
publishing date
type
Contribution to journal
publication status
published
subject
keywords
customer satisfaction, perceived quality, socially responsible investment, mutual funds, financial performance
in
Journal of Financial Services Marketing
volume
19
issue
4
pages
12 pages
external identifiers
  • scopus:84908488324
DOI
10.1057/fsm.2014.24
language
English
LU publication?
no
id
23edcf79-ad8c-4fe3-8d52-5673492a0733
alternative location
https://www.scopus.com/inward/record.uri?eid=2-s2.0-84908488324&doi=10.1057%2ffsm.2014.24&partnerID=40&md5=e9f5dae4d5c7d26cb1d02e7be5e22845
date added to LUP
2017-01-12 15:16:24
date last changed
2017-01-29 04:35:31
@article{23edcf79-ad8c-4fe3-8d52-5673492a0733,
  abstract     = {During the last decade, socially responsible investment (SRI) initiatives have grown to become a mainstream financial service in many countries. However, to date, only a few studies focus on understanding the final investor of such initiatives. This article focuses on one particularly overlooked aspect of SRI behavior; that of customer post-purchase satisfaction. A theoretical model of satisfaction with SRI-profiled mutual funds is developed and tested. The results indicate that perceived financial performance of the SRI-profiled mutual fund is the most important predictor of customer satisfaction. However, perceived environmental, social and governance (ESG) performance also had a positive impact on satisfaction for the SRI mutual fund. On the basis of these results, it is argued that although ESG quality is important to customers, marketers of SRI initiatives should primarily focus on the conventional quality attributes such as financial performance, as a good ESG record alone is unlikely to generate customer satisfaction.},
  author       = {Nilsson, Jonas and Jansson, Johan and Isberg, Sofia and Nordvall, Anna-Carin},
  keyword      = {customer satisfaction,perceived quality,socially responsible investment,mutual funds,financial performance},
  language     = {eng},
  number       = {4},
  pages        = {265--276},
  series       = {Journal of Financial Services Marketing},
  title        = {Customer satisfaction with socially responsible investing initiatives : The influence of perceived financial and non-financial quality},
  url          = {http://dx.doi.org/10.1057/fsm.2014.24},
  volume       = {19},
  year         = {2014},
}