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Changes in the Importance of Bank Attributes Provoked by a Financial Crisis: A Dynamic Analysis of the Uruguayan Case


  • Nora Lado
  • Anna Torres
  • Oscar Licandro


How the customers react during and before an economic and financial crisis is an important yet scantily researched issue (Zurawicki and Braidot, 2005; Lado et al, 2006). We evaluate the variations in the perceived importance of the bank quality attributes as determinated by a severe shock in the situational context. The particular episode considered here is the collapse of the financial system in Uruguay in June 2002. It was a short but profound crisis; the Uruguayan banking system became insolvent with banking holidays resulting in a significant financial system confidence crisis. The specific goals of this research are two-fold (1) to explore how a shock in the external context can affect the weight perceptions of different service quality attributes, and (2) to measure the persistence of this changes over the time. Data for this study were generated utilising a two-stage, two-period approach and analysed by mixed methodology. The results of the Correspondence analysis of square asymmetric matrices performed suggest that the financial crisis provokes changes in the relative importance of the main attributes.

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  • Nora Lado & Anna Torres & Oscar Licandro, 2006. "Changes in the Importance of Bank Attributes Provoked by a Financial Crisis: A Dynamic Analysis of the Uruguayan Case," Economics Working Papers ECO2006/4, European University Institute.
  • Handle: RePEc:eui:euiwps:eco2006/4

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    References listed on IDEAS

    1. Michael Greenacre, 2000. "Correspondence analysis of square asymmetric matrices," Journal of the Royal Statistical Society Series C, Royal Statistical Society, vol. 49(3), pages 297-310.
    2. Melisso Boschi, 2005. "International financial contagion: evidence from the Argentine crisis of 2001-2002," Applied Financial Economics, Taylor & Francis Journals, vol. 15(3), pages 153-163.
    3. Zurawicki, Leon & Braidot, Nestor, 2005. "Consumers during crisis: responses from the middle class in Argentina," Journal of Business Research, Elsevier, vol. 58(8), pages 1100-1109, August.
    4. Antony Beckett, 2000. "Strategic and Marketing Implications of Consumer Behaviour in Financial Services," The Service Industries Journal, Taylor & Francis Journals, vol. 20(3), pages 191-208, July.
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    More about this item


    Marketing; consumer behavior; perceived service quality; attribute importance;

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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