Antecedents and Consequences of Corporate Image: Conventional and Islamic Banks

Awan, Hayat Mohammad; Hayat, Sahar; Faiz, Rafia

doi:10.1590/s0034-759020180407

Cited by 13 publications

(16 citation statements)

References 52 publications

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“…In this connection, a better corporate image positively affects customers to have overall good impression regarding the firm (Kant, Jaiswal, & Mishra, 2017). Once a company can develop positive perceptions among the customers toward the overall image of that company, it can enjoy the competitive edge (Awan, Hayat, & Faiz, 2018; Gürlek, Düzgün, & Meydan Uygur, 2017). According to some scholars (Kim, Lee, & Prideaux, 2014; Lee & Lee, 2018; Nguyen & Leblanc, 2001; Park, Park, & Dubinsky, 2011), the corporate image can be seen as the perceived complete impression that a company holds.…”

Section: Literature Reviewmentioning

confidence: 99%

Millennials' preference of hedonic value over utilitarian value: Evidence from a developing country

et al. 2020

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The philosophy of a free‐market economy has encouraged enormous consumption, which has redefined the customers' perception of value (hedonic and utilitarian) and loyalty even in a developing country. To maximize their consumption level, customers, in many instances, prefer hedonic value to utilitarian value and demonstrate limited loyalty to any brand. This study investigated the Millennials customers' preference between hedonic value and utilitarian value and its impact on loyalty, in the context of a developing country which adopts a combination of capitalist and control economy. Data were collected from customers from the retail industry and were analyzed with PLS‐SEM technique. The findings suggest that, in the developing economy, Millennials prefer hedonic consumption value, which is related to their loyalty and corporate image of the store.

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Section: Literature Reviewmentioning

confidence: 99%

Millennials' preference of hedonic value over utilitarian value: Evidence from a developing country

et al. 2020

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“…A study that compares brand image, customer satisfaction, trust and loyalty of Islamic banking between Muslim and non-Muslim customers in Malaysia has been conducted by researchers, including Amin et al (2013) and Hoq et al (2010). Similarly, studies that compare images, customer satisfaction, trust and loyalty between Islamic and non-Islamic banks customer have been carried out by researchers, including Al-Tamimi et al (2009), Awan et al (2018), Arshad et al (2016), Bhatti et al (2017), Taap et al (2011) and Saleh et al (2017).…”

Section: Introductionmentioning

confidence: 99%

“…Islamic and non-Islamic banks differ in basic philosophy and objectives (Awan et al, 2018). Islamic banks provide products and services based on the principle of sharia (Dusuki and Abdullah, 2007;Awan et al, 2018;Ismal, 2013;Arshad et al, 2016), while non-Islamic banks operate with the standard banking principles. In Indonesia, non-Islamic bank are called conventional banks (The Islamic banking Act Number 21, year 2008).…”

Section: Introductionmentioning

confidence: 99%

Contrasting the drivers of customer loyalty; financing and depositor customer, single and dual customer, in Indonesian Islamic bank

Kartika¹,

Firdaus²,

Najib

2019

JIMA

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Purpose This study aims to investigate the drivers of loyalty in Indonesian Islamic banks, especially group of depositor vs financing customer and single vs dual customer. Design/methodology/approach The objectives of this study were the seven major commercial Indonesian Islamic banks using the purposive sampling technique. In total, 105 questionnaires were processed, consisting of questions regarding depositors, financing, single and dual customer. Structural equation modeling using partial least squares were the analysis methods used to test the hypothesis, while in-depth interviews were conducted with Islamic bank managers to validate the findings. Findings Image has a significant relationship with customer satisfaction, as well as trust. Similarly, customer satisfaction has a significant relationship with trust. Trust has a significant relationship with loyalty. For a financing customer, the image is very influential on customer trust. For a depositor customer, customer satisfaction is very influential on customer trust. For single customer, customer satisfaction has a stronger influence on the image, compared to dual customer. Practical implications Islamic banks need to maintain good image and service quality to create strong, reliable and long-term relationships with customers, more specifically, in terms of improvement and product innovation. A bank focuses on the micro or macro segment, as well as financing. Financing products should be referred to customers’ needs. Bank reputation can be done by strengthening branding and corporate culture in marketing strategy. Shariah compliance has the highest loading factor to trust customers. Indonesian Islamic banks need to maintain customer trust by sticking to Islamic principles and continuing to ensure that its products and services are in accordance with Islamic principles. In Indonesian Islamic banks, it is very important to keep the legal aspects in all of products and services. Deposit products and services of Islamic banks should be in line with the rules of the financial services authority and Bank of Indonesia culture. Bank efforts to strengthen reputation can be done by strengthening branding and corporate culture in marketing strategy, while increasing the attractiveness of the products by way of research and development (R&D) must endeavor to make products and services attractive in terms of both product characteristics and price. Furthermore, it is necessary to support a good marketing strategy to market their products. Social implications Research can be used more widely in determining public policy, by strengthening the marketing strategy and public education. Islamic banks can work together with local religious departments to maximize marketing strategies to educate and convince people to be active economically under Islamic sharia guidance. Islamic banks need to maintain customer trust by sticking to the principles of sharia and continuing to ensure that products and services conform to sharia principles. Islamic bank management can strengthen customer trust by having a good risk management system, so that customers feel secure with Islamic bank transactions. In addition, sharia banks as companies must demonstrate social responsibility by distributing ZIS managed from customers and implementing CSR as a form of awareness of the surrounding community. Originality/value The study revealed the factors that lead to loyalty on the financing, depositor and the single and dual customers. The study found that improvement and innovation, strategic and sustainability are new indicators used to build images of Islamic banks.

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“…For example, Bravo et al (2012) specifically prove that firm communication has a significant impact towards the image of conventional financial institutions. In a comparative study, Awan, Hayat, and Faiz (2018) found that firm communication indeed positively related to the image of a conventional bank, but in the context of Islamic banks, the same hypothesis is not supported.…”

Section: Hypotheses and Conceptual Frameworkmentioning

confidence: 90%

“…This is supported by Bravo et al (2012) that found a significant relationship between non-firm's communication and the corporate brand image of conventional financial institutions. Awan et al, (2018) on the other hand found a mixed result in which nonfirm communication is significantly related to the corporate brand image of Islamic banks, but has no influence on the image of a conventional bank.…”

Section: Hypotheses and Conceptual Frameworkmentioning

confidence: 95%

Corporate Brand Image of Islamic Bank in Malaysia: Antecedents and Consequence

Hamid

Jusoh

Maulan

2020

International Journal of Management Studies

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The role of corporate brand image in influencing the survival of companies has never been underestimated. Because of this, this study intends to examine the antecedents and the consequence of corporate brand image towards customer behaviour. A model proposing firms and non-firms communication as the antecedents and loyalty as the consequence was proposed. One hundred and sixty-eight (168) questionnaires were collected and data was analysed based on the Partial Least Square-Structural Equation Modeling (PLS-SEM). The result of the study revealed that both firm and non-firm communication play a significant role in shaping the corporate brand image of an Islamic bank, especially in Malaysia. Corporate brand image on the other hand was also found to influence customers’ loyalty. These findings have broadened the understanding of the corporate brand image’s antecedents and the consequence also shows the importance of managing the Islamic bank corporate communication.

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Antecedents and Consequences of Corporate Image: Conventional and Islamic Banks

Cited by 13 publications

References 52 publications

Millennials' preference of hedonic value over utilitarian value: Evidence from a developing country

Millennials' preference of hedonic value over utilitarian value: Evidence from a developing country

Contrasting the drivers of customer loyalty; financing and depositor customer, single and dual customer, in Indonesian Islamic bank

Corporate Brand Image of Islamic Bank in Malaysia: Antecedents and Consequence

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