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Bank Customers' Decision-Making Process in Choosing between Ethical and Conventional Banking : A Survey-Based Examination

Title data

Bayer, Sarah ; Gimpel, Henner ; Sarikaya, Serkan:
Bank Customers' Decision-Making Process in Choosing between Ethical and Conventional Banking : A Survey-Based Examination.
In: Journal of Business Economics. (2019) .
ISSN 1861-8928
DOI: https://doi.org/10.1007/s11573-019-00934-5

Official URL: Volltext

Abstract in another language

Although the banking industry is increasingly focused on the issue of sustainability, the market share held by ethical banks remains small. This study applies models of ethical decision-making to investigate the reasons why customers choose conventional rather than ethical banks, and vice versa. Firstly, a model of bank customers’ ethical decision-making process in choosing between ethical and conventional banks is developed, based on multiple established models from the extant literature. Secondly, this theoretical model is evaluated using data from an online-survey and ‘partial least squares structural equation modelling’. This reveals that the primary factors discouraging potential customers from selecting an ethical rather than conventional bank are a lack of information, limited pressure of the social context, weak moral intensity, and a perception that ethical banks are economically disadvantageous. However, the good reputation of ethical banks, a high concern for the topic, and low levels of skepticism, all indicate a positive general opinion of ethical banks. These results suggest that more factual information and emotional charging of the topic of ethical banking would strengthen demand. In terms of theory, our analysis shows how general models of ethical decision-making can be tailored for use in specific contexts and suggests that the integration of multiple established ethical decisionmaking models is sensible. Furthermore, we suggest that reputation and economic benefit—which we include here as domain-specific extensions of established ethical decision-making models—are concepts to consider for a general context-independent extension of ethical decision-making models.

Further data

Item Type: Article in a journal
Refereed: Yes
Keywords: customer behavior; bank selection criteria; ethical decision-making; ethical banking; sustainable banking
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Business Administration
Research Institutions
Research Institutions > Affiliated Institutes
Research Institutions > Affiliated Institutes > Fraunhofer Project Group Business and Information Systems Engineering
Research Institutions > Affiliated Institutes > FIM Research Center Finance & Information Management
Faculties
Faculties > Faculty of Law, Business and Economics
Result of work at the UBT: No
DDC Subjects: 000 Computer Science, information, general works > 004 Computer science
300 Social sciences > 330 Economics
Date Deposited: 04 Jul 2019 07:29
Last Modified: 12 Sep 2019 11:01
URI: https://eref.uni-bayreuth.de/id/eprint/49848