The effects of attitude, trust and switching cost on loyalty in commercial banks in Ho Minh City

g cost and Loyalty. The results indicate that the value of Chi-square/df = 2.273 is less than 3, 
GFI = 0.889 is greater than 0.8, TLI = 0.922 is greater than 0.9, CFI = 0.935 is greater than 0.9 and RMSEA = 0.067 is less than 
0.1; Therefore, it can be said that the model is suitable for market data. At the same time, the standardized weights are greater 
than 0.5. That is statistically significant, so the concepts achieve convergent value. Thus, with CFA analysis results, the main 
factors are included in the analysis, which are: Hedonic attitude, Utilitarian attitude, Trust, Switching cost and Loyalty. 
Table 5 
Rotated Component Matrix 
Component 
1 2 3 4 5 
TD1 0.992 
TD4 0.986 
TD2 0.746 
TD3 0.688 
LTT3 0.896 
LTT2 0.834 
LTT4 0.800 
LTT1 0.743 
NT3 0.835 
NT2 0.832 
NT4 0.728 
NT1 0.705 
TT3 0.882 
TT2 0.833 
TT4 0.796 
TT1 0.728 
CP2 0.869 
CP1 0.846 
CP3 0.727 
Eigenvalue = 1,284 
Cumulaive % 23.763 39.811 53.241 62.624 69.382 
Source: SPSS Analysis Results. 
Fig. 1. CFA analysis results according to standardized coefficients 
TT (Hedonic attitude), TD (Utilitarian attitude), NT (Trust), CP (Switching cost), LTT (Loyalty) 
Source: AMOS Analysis Results 
 156
Table 6 
CFA analysis results according to standardized coefficients 
No. Content Value 
1 Chi-square/df 2.273 
2 P-value của Chi-square 0.000 
3 GFI 0.889 
4 TLI 0.922 
5 CFI 0.935 
6 RMSEA 0.067 
Source: AMOS Analysis Results 
Table 7 
Composite reliability and Variance extracted 
No. Factor Composite reliability Variance extracted 
1 Hedonic attitude 0.899 0.752 
2 Utilitarian attitude 0.852 0.745 
3 Trust 0.863 0.719 
4 Switching cost 0.799 0.701 
5 Loyalty 0.801 0.703 
Source: Authors' calculation results. 
Along with that, the research paper calculates the total reliability value and the total variance extracted to assess the reliability 
of the scales. The results show that the combined reliability values and total variance extracted of all factors were greater than 
0.5. This shows the factors that ensure reliability when included in the analysis. And the P-value of the correlation coefficients 
in each pair is less than 0.05 (i.e. less than 5%), so the correlation coefficient of each pair of concepts is different from 1 at 95% 
confidence. So, the concepts gain discriminatory value. To perform the analysis of the Structural Equation Model (SEM), 
showing the impact of attitude, trust, and switching cost on customer loyalty at Commercial banks in Ho Chi Minh City, the 
author transforms model obtained from CFA analysis results to Structural Equation Model. 
Table 8 
SEM analysis results according to standardized coefficients 
No. Content Value 
1 Chi-square/df 2.247 
2 P-value của Chi-square 0.000 
3 GFI 0.888 
4 TLI 0.924 
5 CFI 0.936 
6 RMSEA 0.067 
Source: AMOS Analysis Results 
Inheriting from the CFA analysis results can be easily seen, the results of the Structural Equation Model SEM are consistent 
with market data. This is reflected in such indicators as: Chi-square/df value = 2.247 less than 3, GFI = 0.888 greater than 0.8, 
TLI = 0.924 greater than 0.9, CFI = 0.936 greater than 0.9 and RMSEA = 0.067 is less than 0.1. 
Table 9 
Results of the structural model analysis 
Relationship Estimate S.E. C.R. P-Value 
TD ← TT 0.184 0.080 2.292 0.022 
NT ← TT 0.095 0.049 1.925 0.004 
NT ← TD 0.316 0.042 7.584 *** 
LTT ← TT 0.115 0.071 1.618 0.006 
LTT ← TD 0.017 0.061 0.269 0.008 
LTT ← NT 0.144 0.108 1.331 0.003 
LTT ← CP 0.055 0.078 0.714 0.035 
***: 0,000 (0,0%) 
Source: AMOS Analysis Results. 
At the same time, based on the analysis results, the P-Value of the influence relationships between the factors, we see, the P-
Value is less than 5%. Therefore, the relationships among the factors Hedonic attitude, Utilitarian attitude, Trust, Switching cost 
and Loyalty are statistically significant in SEM. 
V.D. Ha /Accounting 6 (2020) 157
Table 10 
Results of the structural model analysis according to standardized coefficients 
Relationship Standardized estimate Standardized estimate according to the diagram 
TD ← TT 0.148 0.15 
NT ← TT 0.125 0.13 
NT ← TD 0.517 0.52 
LTT ← TT 0.117 0.12 
LTT ← TD 0.021 0.02 
LTT ← NT 0.111 0.11 
LTT ← CP 0.052 0.05 
Source: AMOS Analysis Results. 
Fig. 2. Results of the structural model analysis show effects of attitude, trust, switching cost to loyalty at 
commercial banks in Ho Chi Minh city 
TT (Hedonic attitude), TD (Utilitarian attitude), NT (Trust), CP (Switching cost), LTT (Loyalty) 
Source: AMOS Analysis Results. 
When considering the value of regression coefficients among factors, it shows that the regression coefficient values are all 
greater than zero, which means that there is a positive influence among the factors, specifically as follows: 
The Hedonic attitude factor positively affects Customer’s Utilitarian attitude, Trust and Loyalty with regression coefficient of 
0.15; 0.13 and 0.12. This means that, when the Hedonic attitude factor is better, Customers’ Utilitarian attitude, Trust and Loyalty 
will increase (with a one-time increase in the Hedonic attitude, Customer’s Utilitarian attitude, Trust and Loyalty will increase 
by 0.15 times; 0.13 times and 0.12 times). 
Fig. 3. Results of the structural model analysis show effects of attitude, trust, switching cost to loyalty at commercial banks in Ho Chi Minh city 
Source: Author’s analytical results, 2019. 
Hedonic attitude 
Utilitarian attitude 
Switching cost 
Trust Loyalty + 0.15 
+ 0.13 
+ 0.52 
+ 0.11
+ 0.02
+ 0.05+ 0.12
 158
Similarly, the Utilitarian attitude factor positively affects Customers' Trust and Loyalty with regression coefficients of 0.52 and 
0.02. This means that, when the Utilitarian attitude factor is better, Customers' Trust and Loyalty will increase (with a one-time 
increase in the Utilitarian attitude, Customers' Trust and Loyalty will increase by 0.52 times and 0.02 times). When the Trust 
and Switching Cost factor is better, Customer Loyalty will increase (with a one-time increase in Trust and Switching Cost, 
Customer Loyalty will increase by 0.11 times and 0.05 times). Thus, after analyzing the Structural Equation Model SEM, the 
study showed the relationship between Attitude, Trust, Switching Cost and Loyalty of individual customers, in which the 
Attitude factor positively affects the Trust and Loyalty; Trust and Switching Cost factors positively affect Loyalty. 
5. Conclusion and management implications 
5.1 Conclusion 
Based on the theories related to Attitudes, Trust, Switching Cost and Loyalty, previous studies related to the topic of the research, 
the authors built a scale and proposed research model with 5 main factors including: (1) Hedonic attitude; (2) Utilitarian attitude; 
(3) Trust; (4) Switching Cost and (5) Loyalty. Next, the authors conducted qualitative research to correct and supplement errors 
if any, then conducted a survey and conducted a formal survey to collect the opinions of individual customers at Commercial 
banks in Ho Chi Minh City. With the collected database, the author conducted SPSS 20, AMOS 20 software for analysis; the 
study has achieved certain results as follows: 
- Show the most basic concepts and scales to measure Attitude, Trust, Switching Cost and Loyalty factors; the previous research 
results showed the relationship as well as the influence of attitude, trust, and switching cost on Loyalty as the scientific basis 
for subsequent studies. 
- Perform preliminary statistics on the objects of the survey such as: gender, education level, age and income. 
- Assess the reliability of the scale by using Cronbach's alpha analysis technique showed that with 19 variables (including 
variables of the factors) all meet the evaluation requirements; Cronbach's alpha coefficients are from 0.7 or more and the 
correlation coefficient of the total variables is greater than 0.3. 
- The results of the exploratory factor analysis EFA show that all variables belonging to the factors meet the analytical 
requirements (factor load factor values are greater than 0.5); with a total of 19 variables and sorted by 5 groups of factors, which: 
Hedonic attitude, Utilitarian attitude, Trust, Switching cost and Loyalty. 
- Confirmatory Factor Analysis shows that the model is suitable for market data, the scales ensure reliability and concepts to 
achieve discriminatory value. 
- Structural Equation Model shows that: (1) Attitude positively affects Trust, Loyalty; (2) Trust and Switching Cost positively 
affect Loyalty. 
5.2 Administration implications 
Based on the results from the model, in order to increase the Loyalty of individual customers at commercial banks in Ho Chi 
Minh City, the study proposes some governance implications as follows: 
- Enhancing the training on sales and communication skills for employees to meet customer service needs and improve customer 
service quality. 
- Collecting and receiving customers' suggestions to promptly correct the mistakes if any when dealing with customers, in order 
to improve the positive attitude of customers with the bank. 
- Regularly monitoring and actively contacting customers to notify customers of transactions, which showing the interest from 
the bank for customers and helps customers appreciate the bank trust. 
- Showing to customers the specific benefits that customers have when dealing with banks and the trade-offs of costs and time 
that customers encounter when switching transactions to other banks through seminars, product introduction sessions for 
customers. 
Acknowledgement 
The authors would like to thank the anonymous referees for constructive comments on earlier version of this paper. 
V.D. Ha /Accounting 6 (2020) 159
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