An effective strategy of service recovery that prevents customer defection after service failure is a powerful managerial instrument. The values that a customer associates and considers with repurchasing after service recovery has changed due to globalization. Although service recovery has been identified as a key driver to retain the customers, yet the effectiveness of service recovery is unclear. The literature did not offer a comprehensive service recovery strategy that can be implemented universally. Owing to varying comments on the effectiveness of service recovery, its generalizability is questionable. Grudge produced in the response of service failure that cannot be compensated with financial transactions. This study will check whether service recovery has any impact on customer’s repurchase intentions when customer has grudges and available substitutes. The findings of this research will help the managers and practitioners to allocate their resources in a proper way. Furthermore, this study will help to understand money or extrinsic compensation is not everything. Therefore, there will be some consideration beyond the materialist compensation. It will open up new avenues for researchers to view service recovery strategies with a different angle.
In developed countries, urban growth has multiplied the demand for investment in basic infrastructure services such as water supply, waste removal, roads and mass transportation. At the same time, decentralization strategies have shifted the responsibility for much of these investments to the local governments. This decentralized investment requires the development of decentralized capital financing. No longer can a central government pay for local investment by raising national taxes or borrowings on international markets and using the funds simply to construct projects at the local level. The introduction of municipal bonds is one of the alternative source of funds to finance the escalating costs of financing local governments. This paper discusses the conditions underlying the development of municipal credit markets, which Malaysia can use to provide a vehicle to narrow the local government’s resource gap through debt funding.
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