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dc.contributor.authorRaza, Ali-
dc.contributor.authorTsiotsou, Rodoula H.-
dc.contributor.authorSarfraz, Muhammad-
dc.contributor.authorIshaq, Muhammad Ishtiaq-
dc.description.abstractPurpose Given the fierce competition in financial services, service failure management and trust restoration tactics are becoming strategic priorities. Studies investigating trust restoration have increased over the years due to the significance of trust in services and the frequency of trust violations. Drawing on the sense-making and defensive approaches of attribution theory, this study aims to explore the effectiveness of various trust recovery tactics (e.g. apology, explanation, and investigation) in financial services considering the prevalence of service failure severity. Design/methodology/approach Based on a scenario-based survey, this study gathered data from 402 consumers of different banks in Pakistan. The study analyzed the data using ordinary least square regressions and structural equation modeling. Findings The study indicated that explanation is more effective in repairing character-competence and commitment-based trust, while investigation remained highly effective for inducing congruence-based trust. Interestingly, an apology was more effective for communication-based trust repairing, while context-based trust recovery was unaffected against all recovery tactics. Despite the prevalence of severe service failure, recovery actions proved fully effective for character-competence and commitment-based trust while partially effective for congruence-based trust recovery. This study also found that severe service failure undermines the effectiveness of recovery actions in repairing communication and context-based trust. Originality/value The study extends the literature on trust recovery by integrating sense-making and defensive attribution theory. The sense-making approach contributes to the existing knowledge on trust recovery by elucidating how consumers and service providers develop a shared understanding to facilitate the recovery mechanism of multidimensional trust in financial services.en_US
dc.sourceInternational Journal of Bank Marketingen_US
dc.subjectFRASCATI::Social sciencesen_US
dc.subjectFRASCATI::Social sciences::Economics and Businessen_US
dc.subject.otherTrust recovery tacticsen_US
dc.subject.otherFailure severityen_US
dc.subject.otherFinancial servicesen_US
dc.titleTrust recovery tactics in financial services: the moderating role of service failure severityen_US
dc.contributor.departmentΤμήμα Οργάνωσης & Διοίκησης Επιχειρήσεωνen_US
Appears in Collections:Department of Business Administration

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