Page 44 - 2019

Ph.D.
(Management)
CUSTOMERS' EXPECTATIONS AND PERCEPTIONS TOWARDS SERVICE
QUALITY PROVIDED BY FINANCIAL ADVISORS IN GUJARAT

Ph.D. Scholar : Pithadiya Umeshkumar Jaysukhbhai
Research Supervisor : Dr. M. S. Sharma

Regi. No.: 13146031007
Abstract :
Developing countries attach great importance to financial sector development and
deepening in the pursuit of their poverty reduction goal. By mobilizing savings, facilitating
payments and trade of goods and services, and promoting efficient allocation of
resources, the financial sector is seen as playing a critical role in facilitating economic
growth and, directly through broadening access to finance and indirectly through growth,
contributing to poverty reduction. There are acute information dissymmetry between
customers and financial services institutions in financial markets. There are many
financial services (like insurance, mutual fund, share, post office deposits, provided fund,
portfolio management services etc) provided by financial institutions. Various
intermediaries have evolved as mediators between customers and financial services
institutions. In particular, these intermediaries like insurance agents, brokers, mutual fund
agents, post office agents etc, helps for easy coordination and to execute market
transactions. Usually, these intermediaries are called financial advisors/ investment
advisors. The Approach of Financial Services provider towards investors/ customers is
an area of concern.

This research was conducted to study customers’ expectations and perceptions towards
service quality provided by financial advisors in Gujarat. The objective of study was to
explore and define service quality dimensions for measuring service quality provided by
Financial Advisors and to study the gap between customers’ expectations and
perceptions towards service quality provided by financial advisors.
The data was gathered through structured questionnaire designed on the basis of
variables and scale used in similar previous studies. All variables, with the exception of
demographic information, were measured through five point Likert scale. Data were
collected from four districts of Gujarat, i.e. Ahmedabad, Vadodara, Surat and Rajkot. Total
405 samples were used for data analysis.

The exploratory factor analysis (EFA) using Principal Component Analysis (PCA) was
carried out for measuring customers’ expectations and perception both. Cronbatch’s
alpha was used to measure reliability of data. Five service quality dimensions have been
explored through exploratory factor analysis, which are “Reliability”, “Responsiveness”,

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