Green finance continuance behavior: the role of satisfaction, social supports, environmental consciousness, green bank marketing initiatives and psychological reactance
Management of Environmental Quality
ISSN: 1477-7835
Article publication date: 26 May 2023
Issue publication date: 18 July 2023
Abstract
Purpose
The study aims to examine the green finance customers' post-usage continuance behavior based on an extended social support theory (SST). Remarkably, this study explores five indirect predictors of green finance continuance behavior (GFCB) (i.e. environmental consciousness (EC), green bank marketing initiatives (GBMI), informational supports, emotional supports (EST) and psychological reactance) and a mediator (i.e. customer satisfaction).
Design/methodology/approach
In this study data were collected from 362 respondents from Bangladesh using a purposive sampling method with a structured self-administrative questionnaire and analyzed by partial least square structural equation and modeling using SMART PLS 3.0 software.
Findings
The results depict that the five predictors, i.e. information supports (ß = 0.367, t-statistics = 2.463, p < 0.001), EST (ß = 0.206, t-statistics = 2.315, p < 0.000), EC (ß = 0.324, t-statistics = 3.484, p < 0.000), GBMI (ß = 0.288, t-statistics = 2.028, p < 0.000), psychological reactance (ß = 0.126, t-statistics = 0.969, p < 0.052) influence GFCB while satisfaction is predicted by four predictors except psychological reactance (ß = 0.126, t-statistics = 0.969, p < 0.052). In addition, customer satisfaction (ß = 0.638, t-statistics = 6.317, p < 0.005) also has an impact on continuance behavior. Besides, the study understood that four predictors indirectly influence GFCB through satisfaction except psychological reactance ((ß = 0.080, t-statistics = 964, z = 0.958p < 0.338). Finally, the coefficient of determinations (R2) indicates that the five predictors explained 65.3% of changes in satisfaction, whereas 72.8% of changes are described by the five predictors and customer satisfactions.
Practical implications
Finally, this study highlights the social and managerial implications for the implementers of the green finance industry. It is recommended to emphasize green finance practice as it plays a crucial role in promoting environmental protection, ensuring social equity and driving economic growth. The green banking service providers, industry analysts, green consumers and respective government authorities can generalize green finance activities as an essential aspect of sustainable development to equalize the economic growth with a view to protecting environmental collapse and promoting renewable energy, energy efficiency, sustainable agriculture and other environmentally friendly activities.
Originality/value
The study will enormously contribute to the existing literature validating the proposed holistic framework applying SST along with EC, GBMI and psychological reactance in green finance continuance behavior.
Keywords
Acknowledgements
The authors wish to express their gratitude to Professor Dr. Mubina Khondoker and Dr. Md Razib Alam from the Department of Marketing at the University of Dhaka and Associate Professor Dr. Md Shamsul Arefin from Department of Management Studies at Bangabandhu Sheikh Mujibur Rahman Science and Technology University in Gopalganj, Bangladesh. Furthermore, they would like to express their gratitude to the Editor-in-Chief, associate editors, and the reviewers who provided feedback and recommendations during the two rounds of review for the distinguished journal, Management of Environmental Quality. The authors are truly grateful for their valuable contributions to the publication of this work.
Citation
Al Amin, M., Ahad Mia, M.A., Bala, T., Iqbal, M.M. and Alam, M.S. (2023), "Green finance continuance behavior: the role of satisfaction, social supports, environmental consciousness, green bank marketing initiatives and psychological reactance", Management of Environmental Quality, Vol. 34 No. 5, pp. 1269-1294. https://doi.org/10.1108/MEQ-09-2022-0257
Publisher
:Emerald Publishing Limited
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