IDEAS home Printed from https://ideas.repec.org/a/ehu/cuader/36897.html
   My bibliography  Save this article

Entity crisis, halo effect and loyalty

Author

Listed:
  • Moliner, Miguel Ángel
  • Fandos, Juan Carlos
  • Monferrer, Diego
  • Estrada, Marta

Abstract

[EN] Taking as reference the period of deep financial and economic crisis suffered at global level, with special incidence in the Spanish financial industry, this paper examines the effect of entity crisis on consumer loyalty, studying the halo effect on trust, brand image and social norms. A causal model is proposed and contrasted with a sample of 500 bank customers and structural equation models were used to verify the hypothesized relationships. The contribution of this research is related to the analysis of the model proposed from a theoretical and empirical perspective. The general model establishes the consumption habits of customers during an entity crisis. It can be seen that the most important antecedent of loyalty are social norms, followed by trust and then brand image. However, the intensity of the crisis in each entity changes the results. The findings suggest that loyalty is an anti-cyclic strategy for firms. Investing in building customer loyalty in boom years generates positive credit towards the firm from customers who are unwilling to abandon it even when it is in crisis. The halo effect is fulfilled in the sense that customers’ general opinion of the entity and the more emotional variable determines and moderates negative news from the environment which attempts to influence consumers’ beliefs.

Suggested Citation

  • Moliner, Miguel Ángel & Fandos, Juan Carlos & Monferrer, Diego & Estrada, Marta, 2020. "Entity crisis, halo effect and loyalty," Cuadernos de Gestión, Universidad del País Vasco - Instituto de Economía Aplicada a la Empresa (IEAE).
  • Handle: RePEc:ehu:cuader:36897
    as

    Download full text from publisher

    File URL: https://addi.ehu.es/handle/10810/36897
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Wei-Ta Fang & Eric Ng & Ching-Ming Wang & Ming-Lin Hsu, 2017. "Normative Beliefs, Attitudes, and Social Norms: People Reduce Waste as an Index of Social Relationships When Spending Leisure Time," Sustainability, MDPI, vol. 9(10), pages 1-18, September.
    2. Kumar, V. & Pozza, Ilaria Dalla & Ganesh, Jaishankar, 2013. "Revisiting the Satisfaction–Loyalty Relationship: Empirical Generalizations and Directions for Future Research," Journal of Retailing, Elsevier, vol. 89(3), pages 246-262.
    3. Ajzen, Icek, 1991. "The theory of planned behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 50(2), pages 179-211, December.
    4. Alexander Chernev & Sean Blair, 2015. "Doing Well by Doing Good: The Benevolent Halo of Corporate Social Responsibility," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 41(6), pages 1412-1425.
    5. Kamran-Disfani, Omid & Mantrala, Murali K. & Izquierdo-Yusta, Alicia & Martínez-Ruiz, María Pilar, 2017. "The impact of retail store format on the satisfaction-loyalty link: An empirical investigation," Journal of Business Research, Elsevier, vol. 77(C), pages 14-22.
    6. J. J. Hox, 1994. "Hierarchical Regression Models for Interviewer and Respondent Effects," Sociological Methods & Research, , vol. 22(3), pages 300-318, February.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Prados Peña, M.ª Belén, 2022. "Efecto moderador del ajuste de la extensión y la implicación en la relación entre la actitud hacia una marca padre patrimonial y la lealtad de la extensión. Aplicación al conjunto monumental de la Alh," Cuadernos de Gestión, Universidad del País Vasco - Instituto de Economía Aplicada a la Empresa (IEAE).
    2. Pilar Fernández‐Ferrín & Sandra Castro‐González & Belén Bande, 2021. "Corporate social responsibility, emotions, and consumer loyalty in the food retail context: Exploring the moderating effect of regional identity," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(2), pages 648-666, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alessandro Concari & Gerjo Kok & Pim Martens, 2020. "A Systematic Literature Review of Concepts and Factors Related to Pro-Environmental Consumer Behaviour in Relation to Waste Management Through an Interdisciplinary Approach," Sustainability, MDPI, vol. 12(11), pages 1-50, May.
    2. Md. Shahzalal & Azizul Hassan, 2019. "Communicating Sustainability: Using Community Media to Influence Rural People’s Intention to Adopt Sustainable Behaviour," Sustainability, MDPI, vol. 11(3), pages 1-28, February.
    3. Phu Nguyen-Van & Anne Stenger & Tuyen Tiet, 2021. "Social incentive factors in interventions promoting sustainable behaviors: A meta-analysis," PLOS ONE, Public Library of Science, vol. 16(12), pages 1-27, December.
    4. Hallikainen, Heli & Luongo, Milena & Dhir, Amandeep & Laukkanen, Tommi, 2022. "Consequences of personalized product recommendations and price promotions in online grocery shopping," Journal of Retailing and Consumer Services, Elsevier, vol. 69(C).
    5. Gkargkavouzi, Anastasia & Halkos, George & Matsiori, Steriani, 2019. "How do motives and knowledge relate to intention to perform environmental behavior? Assessing the mediating role of constraints," Ecological Economics, Elsevier, vol. 165(C), pages 1-1.
    6. Kamel Mouloudj & Anuli Njoku & Dachel Martínez Asanza & Ahmed Chemseddine Bouarar & Marian A. Evans & Smail Mouloudj & Achouak Bouarar, 2023. "Modeling Predictors of Medication Waste Reduction Intention in Algeria: Extending the Theory of Planned Behavior," IJERPH, MDPI, vol. 20(16), pages 1-18, August.
    7. Farzana Sharmin & Mohammad Tipu Sultan & Alina Badulescu & Dorin Paul Bac & Benqian Li, 2020. "Millennial Tourists’ Environmentally Sustainable Behavior Towards a Natural Protected Area: An Integrative Framework," Sustainability, MDPI, vol. 12(20), pages 1-24, October.
    8. Aistė Čapienė & Aušra Rūtelionė & Krzysztof Krukowski, 2022. "Engaging in Sustainable Consumption: Exploring the Influence of Environmental Attitudes, Values, Personal Norms, and Perceived Responsibility," Sustainability, MDPI, vol. 14(16), pages 1-22, August.
    9. José Alberto Martínez-González & Carmen Dolores Álvarez-Albelo & Javier Mendoza-Jiménez & Urszula Kobylinska, 2022. "Predicting the Entrepreneurial Behaviour of Starting Up a New Company: A Regional Study Using PLS-SEM and Data from the Global Entrepreneurship Monitor," Mathematics, MDPI, vol. 10(5), pages 1-25, February.
    10. Muhammad Yaseen Bhutto & Xiaohui Liu & Yasir Ali Soomro & Myriam Ertz & Yasser Baeshen, 2020. "Adoption of Energy-Efficient Home Appliances: Extending the Theory of Planned Behavior," Sustainability, MDPI, vol. 13(1), pages 1-25, December.
    11. Elisa Martinelli & Donata Tania Vergura, 2015. "Le componenti della fedelt? all?insegna nel retail grocery: un modello multidimensionale," MERCATI & COMPETITIVIT?, FrancoAngeli Editore, vol. 2015(2), pages 45-65.
    12. José Alberto Martínez-González & Urszula Kobylinska & Francisco J. García-Rodríguez & Lukasz Nazarko, 2019. "Antecedents of Entrepreneurial Intention among Young People: Model and Regional Evidence," Sustainability, MDPI, vol. 11(24), pages 1-29, December.
    13. Nishant Kumar & Divya Mohan, 2021. "Sustainable apparel purchase intention: collectivist cultural orientation and price sensitivity in extended TPB model," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 20(2), pages 149-161, April.
    14. Shan-Hui Chao & Jin-Zhang Jiang & Kuan-Chu Wei & Eric Ng & Chia-Hsuan Hsu & Yi-Te Chiang & Wei-Ta Fang, 2021. "Understanding Pro-Environmental Behavior of Citizen Science: An Exploratory Study of the Bird Survey in Taoyuan’s Farm Ponds Project," Sustainability, MDPI, vol. 13(9), pages 1-24, May.
    15. Luis Pérez y Pérez & Pilar Egea, 2019. "About Intentions to Donate for Sustainable Rural Development: An Exploratory Study," Sustainability, MDPI, vol. 11(3), pages 1-14, February.
    16. Paola Briganti & Concetta Metallo & Maria Margherita Pagliuca & Luisa Varriale, 2023. "Exploring Citizens’ Behavior to Promote Environmental Sustainability: The Role of Information Overload and Urban Sustainable Policies," Sustainability, MDPI, vol. 15(5), pages 1-17, February.
    17. Rokonuzzaman, Md & Harun, Ahasan & Al-Emran, Md & Prybutok, Victor R., 2020. "An investigation into the link between consumer's product involvement and store loyalty: The roles of shopping value goals and information search as the mediating factors," Journal of Retailing and Consumer Services, Elsevier, vol. 52(C).
    18. Goić, Marcel & Levenier, Camilo & Montoya, Ricardo, 2021. "Drivers of customer satisfaction in the grocery retail industry: A longitudinal analysis across store formats," Journal of Retailing and Consumer Services, Elsevier, vol. 60(C).
    19. Othmane Aride & Maria-del-Mar Pàmies-Pallisé, 2019. "From Values to Behavior: Proposition of an Integrating Model," Sustainability, MDPI, vol. 11(21), pages 1-19, November.
    20. Sayema Sultana & Norhayah Zulkifli & Dalilawati Zainal, 2018. "Environmental, Social and Governance (ESG) and Investment Decision in Bangladesh," Sustainability, MDPI, vol. 10(6), pages 1-19, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ehu:cuader:36897. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alcira Macías Redondo (email available below). General contact details of provider: https://edirc.repec.org/data/ieahues.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.