Question details

The Standard Asian Merchant Bank is a Malaysian
$ 20.00

 

The Standard Asian Merchant Bank is a Malaysian merchant bank headquartered in Kuala Lumpur. The bank provides financial services in asset management, corporate finance, and securities   broking.   Clients   of   The   Standard   Asian   Merchant   Bank   are   among   others institutional investors,  foundations,  (semi)  public  institutions,  companies,  and  high  net- worth individual clients. Segments in which The Standard Asian Merchant Bank operates are small and medium-sized listed companies, real estate, and biotech firms.

 

Syafiq Aimi is a Business student from the National University of Malaysia which is located in Bangi,  Selangor  - about  35 km  south  of Kuala  Lumpur.  Syafiq  is currently  undertaking  a research  project  for  the  Structured  Products  (SP)  desk  of The  Standard  Asian  Merchant Bank’s   securities   department.   The   SP   desk   is responsible   for developing   and selling structured products: investments that consist of a portfolio of securities and derivatives. Structured  products  are investment  instruments  that are created to meet specific  needs that cannot be met from standardized financial instruments. The products of the SP desk are tailor-made and they are developed based on the Standard Asian Merchant Banks niche specializations  which  are  Asian  listed  real  estate  companies,  life  sciences  companies,  and shares.

 

The SP desk of The Standard Asian Merchant Bank has its own website that is primarily used to provide information to the users of the website. The website contains information about the products offered (e.g., brochures, legal documents, and bid-ask spreads), publications, and contact information. The website can be classified as a services-oriented  relationship- building  website.  There  are  two  main  groups  of  website  users;  financial  advisors  and institutional clients of the SP desk. They use the website to examine product features, prices of the products offered by the SP desk, and legal information.

 

 

 

For  the  SP  desk,  there  are  several  reasons  whthey  have  asked  Syafiq  to  undertake  a research project:

 

 

1.   Satisfaction with the website has never been measured. As a result, the SP desk does not know how the users experience the website. The current content and layout of the website are based on assumptions of what users are looking for on the website. For this reason, the website may contain elements deemed unnecessary by the users and it might lack features that are important to the users.

2.   Users of the website only spend a small amount of time on the website. In 2011,

 

more than 70% (75.4%) of the visitors spent less than 30 seconds on the website of the SP desk (AWStats, 2011). The products offered at the website are quite complex and   clients   often   have   a   lack   of   knowledge   concerning   Structured   Products. Therefore  it  is  desirable  to  encourage  website  users  to  spend  more  time  on  the website.

3.    The website is not self-explanatory. Consequently, people contact employees of the SP desk to ask for explanation and clarification. This is a time consuming process that is relatively expensive for a small desk.

 

Based on preliminary research, the following problem statement was created by Syafiq:

 

 

What elements are of importance in driving Satisfaction with the Website in the Asian investment banking industry, to what extent do these variables influence Satisfaction  with the Website, and how can the results of this study be used to create a website for the SP desk that  is self-explanatory,  that  people use as  their main  information  source and  that website users spend more time on?

 

Several research methods are used by Syafiq to answer the problem statement. In order to determine the variables relevant to his study Syafiq has carried out a literature review and face-to-face  interviews.  Based  on  the  literature  review  and  a  rigorous  analysis  of  the interviews Syafiq has developed the following conceptual model.

 

 

 

 

Information quality

 

 

System quality

 

 

 

Interactivity

 

Satisfaction with the Website

 

 

System design quality

 

 

 

 

Syafiq now wants to collect quantitative data to be able to test this model with multivariate regression analysis. In order to collect these quantitative data, Syafiq is currently busy with designing a survey which he wants to post online. He has developed the following table that should help him to operationalize the constructs in his conceptual model.

 

Table  1: Overview  of the Constructs/variables  in my Model, “Subconstructs,  and Survey

 

Questions

 

Information  quality

Variable

Definition

Survey questions

Information content

Refers to the content of the information provided by the website (Hernandez et al. 2009)

The range of information is high.

The information is applicable to the websites activities (zie relevance).

The information is detailed (zie accuracy).

The main goal of the information on the website is clear.

The website provides in-depth information.

The information on the website is informative to your usage. The information on the website is valuable to your usage. The information on the website is of the appropriate detail. The content on the website supports its intended purpose.

Relevance

Refers to the degree to which the

information meets the needs of the website user (Muylle et al. 2004).

The website provides information that exactly fits your needs.

The information is applicable to the websites activities.

The information in the website is relevant.

The information in the website is to the point.

The information in the website does not help me at all.

Up-to-date

Refers to the currency of the information on the website (McKinney et al. 2002).

Information is always updated in the site.

The website provides up-to-date information.

The information is current.

You get the information you need in time.

Understandability

Refers to the clearness and goodness of the information (Cheung and Lee 2005, 2008).

The content of the website is easy to understand. The meaning of the information is clear.

The information in the website is clear to me.

The information in the website is presented clearly. The information is clear in meaning.

The information is easy to comprehend.

In general, information on the website is understandable for you to use.

Completeness

Refers to the completeness of the

information on the website (Muylle

et al. 2004)

The website provides comprehensive information.

The website provides sufficient information. The information in the website is complete.

The information in the website is sufficiently detailed.

 

 

 

Reliability

Refers to the degree of consistency and dependability of the information on the website (Cheung and Lee

2005, 2008; McKinney et al. 2002).

The website provides information that you trust. The information on the website is trustworthy. The information on the website is credible.

In general, information on the website is reliable for you to use.

Accuracy

Refers to the degree to which the information on the website is perceived to be precise (Muylle et al.

2004; Zhang and von Dran 2002).

The website provides accurate information. The website provides precise information. The information on the website is detailed. The information on the website is accurate.

The information on the website is not precise. I can rely on the information in the website.

The information in the website is sufficiently detailed.

Usefulness

Refers to the degree to which the user believes that the information on the website will enhance their decision (Cheung and Lee 2005,

2008; McKinney et al. 2002)

The information on the website is useful.

The information on the website is informative to your usage.

The information on the website is valuable to your usage.

In general, information on blackboard is useful for you to use.

 

System quality

Variable

Definition

Survey questions

Navigability

Refers to the ease with which users

can find the needed information on the website (Schmidt et al. 2007; Evans and King 1999*).

I find the site easy to navigate.

The navigation links are stated in every page.

It is easy to find the information I need from this website.

The organization of the contents of this site makes it easy for me to know where I am when navigating it.

You obtain desired information quickly. It is easy to locate the information.

The website is being easy to go back and forth between pages. The website is providing a few clicks to locate information.

In general, the website is easy to navigate.

Access

Refers to the availability of the website at all times (Cheung and Lee

2005; 2008)

The website is responsive to your request.

In general, the website provides good access.

The website is available at all times.

The website can be accessed using different browsers (OS).

Ease of use

Refers to the ease with which the website can be used (Tarafdar and Zhang 2006).

I find the site easy to operate.

The website is easy to understand.

This website is simple to use, even when using it for the first time. The website is easy to use.

The website is user-friendly.

It is difficult to operate the website.

In general, the website is user friendly.

The website is well organized.

I find the website easy to use.

Speed

Refers to the degree to which the website users perceive the website to be fast or slow (Muylle et al.

2004).

I find the site download time acceptable. The speed of display between pages is high.

There is very little time between my request for pages and having the pages displayed on my computer.

The rate at which information is displayed is fast. The site doesnt waste my time.

The website is time consuming.

It does not take much time to get from one place in the website to

another.

The website is fast.

The website is quickly loading all the text and graphics.

When I use the website there is very little waiting time between my actions and the websites response.

The website loads quickly.

The website takes long too load.

Security

Refers to the users perceptions’ of the websites reliability and safety (Awamleh and Fernandes 2005).

You feel the website is secure.

The website has provisions for user authentication.

The website has an information policy.

The website has adequate security features.

Privacy

Refers to the elements that provide website users a sense of privacy (Schmidt et al. 2008).

I feel like my privacy is protected at this website.

System accuracy

Refers to the accuracy of the website in providing information to its users.

The system is accurate.

Are you satisfied with the accuracy of the system?

System reliability

Refers to the reliability of the website in providing information to its users.

You get the information that you requested on the website.

 

 

 

Interactivity

Variable

Definition

Survey questions

Customer support

Refers to the facilities and

communication channels that a company offers to establish direct contact with users in order to help them with questions or problems (Chen and Yen 2004; Hernandez et al.

2009; Wan 2000; Wolfinbarger and

Gilly 2003**).

I can send my feedback about the site.

Think of all the possible ways that you can contact our bank when you need to. Based on this information and on your own preferences, how easy do you think it is to contact us?

You are satisfied with the customer support provided by the website. You are satisfied with the after-sales support provided by the website. The website understands your problems and requests.

The website responds to your requests fast enough.

The website provides the personalized customer support you need.

The website responds to your problems and requests promptly. The company is willing and ready to respond to customer needs. When you have a problem, the website shows a sincere interest in solving it.

Inquiries are answered promptly.

Customisation

Refers to the ability of websites to present customized information to fulfill the individual needs of users (Tarafdar and Zhang 2006; Chen and Hitt 2002***; Greer and Murtaza

2003****)

The website provides information that exactly fits your needs. The website can understand what you need via interactive communication.

The website has personalization characteristics. The website offers customized information.

The level of personalization is about right, not too much or too little. The website provides the precise information you need.

The website provides reports that seem to be just about exactly what you need.

The website allows me to interact with it to receive tailored information.

I can interact with the website in order to get information tailored to my specific needs.

Control

Refers to the features on the website that influence the userssense of control (Wolfinbarger and Gilly

2000)*****.

The site provides value added features.

When I am using this website, I feel that I am in control of what I can

do.

The user controls the order or sequence of information access. The user controls how fast to go through the website.

The user controls opportunities for interaction.

Users control the difficulty level of the information accessed. The website has features, which help me accomplish my task.

 

 

System design quality

Variable

Definition

Survey questions

Visual appeal

Refers to the aesthetics of the website (Loiacono et al. 2002).

The site has an attractive appearance. The website has an attractive layout.

I like the layout of the website.

The layout of the website is visually comforting. The layout of the website is annoying.

The website is visually attractive.

The website has an attractive screen layout. The website is visually pleasing.

The website displays visually pleasing design. The website is visually appealing.

Innovativeness

Refers to the uniqueness and creativity of the website (Loiacono et al. 2002).

The design is appropriate to the type of the site. The website is innovative.

The website design is innovative. The website is creative.

Legibility

Refers to the ease of reading of the

information on the website (Palmer

2002).

The site presents the information in an appropriate format.

The output format is easy to read.

The layout of the information is easy to understand. The website is well organized.

The website has a simple layout for its content. The website has a clear design.

The information on the website is easy to read. The text on the website is easy to read.

Consistent image

Refers to the consistency of the image projected by the website with the image of the firm (Loiacono et al.

2002).

The design is appropriate to the type of website. I find the site has consistent page layout.

You are satisfied with the image of the website.

The company to which the website belongs has a well-known brand. The website projects an image consistent with the companys image. The website fits with my image of the company.

 

 

 

The websites image matches that of the company.

 

Satisfaction with the Website

Satisfaction with the

website

Definition

Survey questions

 

The discrepancy between a customer’s expectations and perceptions of performance

In general terms, I am satisfied with the way that this website has carried out my actions.

In general, I am satisfied with the service that I received from the website. Please think of your overall experience with the website. On a scale of 1-7, overall, how satisfied are you with the website?

You are satisfied with the website.

Note. The survey questions” in the last column are questions from various studies on website quality. I have tried to find

as many questions as I could. Every single survey question is taken out of (one of) the papers presented in the reference list.

 

 

REFERENCE LIST

 

 

Awamleh Raed and Cedwyn Fernandes (2005), Internet banking: an empirical investigation into the extent of adoption by banks and the determinants of customer satisfaction in the United Arab Emirates,Journal of Internet Banking and Commerce, 10 (1),

0509-05.

 

Chen, Kuanchin and David C. Yen (2004), Improving the quality of online presence through interactivity,Information & Management, 42, 217-26.

Chen, P.S. and L.M. Hitt (2002), Measuring Switching Costs and the Determinants of Customer Retention in Internet-Enabled Business,Information Systems Research, 13 (3), 255-74.

Cheung, Christy M.K. and Matthew K.O. Lee (2005), The Asymmetric Effect of Website

 

Attribute Performance on Satisfaction: An Empirical Study,” in proceedings of the

 

38th Hawaii International Conference on System Sciences, 1-10.

 

Evans, J. R., and V.E. King (1999), Business-to-business marketing and the World Wide Web: Planning, managing and assessing websites,” Industrial Marketing Management, 28 (4), 34358.

Greer, T.H. and M.M. Murtaza (2003), Web Personalization: The Impact of Perceived Innovation Characteristics on the Intention to Use Personalization,Journal of Computer Information Systems, Spring, 50-3.

Hernandez, Bianca, Julio Jimenez and Jose M. Martin (2009), Key website factors in e- business strategy,” International Journal of Information Management, 29 (5), 362-71.

Loiacono, Eleanor T., Richard T. Watson and Dale L. Goodhue (2002), WebQual: A measure of website quality,” in Marketing Theory and Applications, Vol. 13, ed. K.K. Evans and

 

 

 

L.K. Scheer: Chicago: American Marketing Association, 1-71.

 

McKinney, Vicki, Kanghyun Yoon and Fatemeh M. Zahedi (2002), The Measurement of Web-Customer Satisfaction: An Expectation and Disconfirmation Approach,” Information Systems Research, 13 (3), 296-315.

Muylle, Steve, Rudy Moenaert and Marc Despontin (2004), The conceptualization and

 

empirical validation of web site user satisfaction,” Information & Management, 41,

 

543-60.

 

Palmer, Jonathan W. (2002), Website usability, design and performance metrics,” Information Systems Research, 13 (2), 151–67.

Schmidt, Serje, Antoni S. Cantallops and Cristiane Pizutti dos Santos (2008), The characteristics of hotel websites and their implications for website effectiveness,” International Journal of Hospitality Management, 27 (4), 504-16.

Tarafdar, Monideepa and Jie Zhang (2005), Analysis of Critical Website Characteristics: A Cross-Category Study of Successful Websites,Journal of Computer Information Systems, 46 (2), 14-24.

Wan, Hakman A. (2000), Opportunities to enhance a commercial website,Information & Management, 38 (1), 1521.

Wolfinbarger, M., and M. C. Gilly (2000), Consumer motivations for online shop- ping,” in

 

proceedings of the Americas Conference on Information Systems, Long Beach, CA: Association for Information Systems, 13626.

Zhang, Ping and Gisela M. von Dran (2002), User Expectations and Rankings of Quality

 

Factors in Different Web Site Domains,” International Journal of Electronic Commerce,

 

6 (2), 9-33.

 

 

QUESTIONS  

1.   Measurement  is  the  assignment  of  numbers  to  characteristics  (or  attributes)  of

 

objects   according to  a  pre-specified         set  of  rules.   Describe the object   and characteristics of Syafiq’s study.

2.   The  measurement  of more  abstract  and subjective  characteristics  (or attributes  - such  for  instance   the  attributes   in  Syafiq’s   study)   is  more  difficult  than  the

measurement of other, more tangible attributes such as weight, length, gender, age, and marital status. Why is that?

3.    One way of tapping more abstract and subjective attributes is operationalizing these attributes.

a.   What is operationalization?

 

b.   Describe the process of operationalizing variables.

 

4.   Based on a review of the literature Syafiq has developed a table (Table 1) that should help him to operationalize the variables of his conceptual model. Use this table to discuss the attribute ‘Information Quality’ in terms of dimensions and elements. In other  words,  which  dimensions  of  Information  Quality’  has  Syafiq  found  in  the literature and how have these dimensions further been broken into elements by researchers who have investigated this issue in the past?

5.     Syafiq could decide to use the survey questions he has found in the literature as a

 

basis for his questionnaire. Is it, in general, a good or a bad idea to use existing scales? Why?

Reference:

Sekaran, U., & Bougie, R. (2013). Research methods for business: A skill building approach (6th ed.). Chichester, United Kingdom: Wiley. ISBN: 978-1-119-94225-2.

 

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