The moderating role of online social influence in switching of personal current accounts

This is a new bank switching study based on the Theory of Planned Behaviour. Its purpose is to identify a predictive bank switching model that incorporates the moderating effect of online social influence. It is a quantitative... [ view full abstract ]

This is a new bank switching study based on the Theory of Planned Behaviour. Its purpose is to identify a predictive bank switching model that incorporates the moderating effect of online social influence. It is a quantitative study employing a cross-sectional research design. A purpose-built website is combined with an unrestricted self-selected survey questionnaire to gather data from respondents in the UK and the Republic of Ireland. Key descriptive statistics identify the similarities between respondents in both markets. The core constructs are examined to confirm their reliability and validity and then the predictive capabilities of the model are tested using multiple regression. The moderating effects of eWOM and Online Opinion Leaders are then tested on each of the significant relationships and a final predictive model with OSI is presented. To test the strength of this final model the possibility of OSI being a mediator is tested and then separate analysis is carried out to confirm if just Switchers or Non-switchers offer better alternatives to the final model. The finding of a significant relationship with a different direction to what has been found previously in the literature is discussed. The limitations, implications and value of this research is discussed in terms of both the literature and the practitioner.

Keywords: Online Social Influence, Bank Switching, eWOM, Moderation, Theory of Planned Behaviour