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Ethical reputation and value received: customer perceptions

Jay Prakash Mulki (Northeastern University, Boston, Massachusetts, USA)
Fernando Jaramillo (University of Texas at Arlington, Arlington, Texas, USA)

International Journal of Bank Marketing

ISSN: 0265-2323

Article publication date: 26 July 2011




This research seeks to explore the role played by ethical reputation in amplifying the positive impact of value received by the customer on satisfaction with the supplier and ultimately loyalty.


Survey responses derived from 299 customers, concerning two large financial institutions within Chile, are used to test relationships among ethical perceptions, customer value, satisfaction, and loyalty. Hypotheses are tested with a structural equation model.


Results show that ethical perceptions about the organization amplify the impact of customer value on customer satisfaction and eventually loyalty.

Research limitations/implications

This study contributes to the existing literature by showing that ethical perceptions from customers can help financial institutions achieve higher levels of satisfaction and loyalty. Study findings rely on customer survey responses collected in one country and one industry. Generalizability of findings is yet to be tested.

Practical implications

Ethical reputation helps financial institutions retain their customers.


This is the first study showing that customer perceptions about company ethics amplify the positive impact of customer value on customer satisfaction.



Mulki, J.P. and Jaramillo, F. (2011), "Ethical reputation and value received: customer perceptions", International Journal of Bank Marketing, Vol. 29 No. 5, pp. 358-372.



Emerald Group Publishing Limited

Copyright © 2011, Emerald Group Publishing Limited

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