Perceptions of fair treatment in financial services: Development, validation and application of a fairness measurement scale

J.F. Devlin, S.K. Roy, Harjit Sekhon

    Research output: Contribution to journalArticle

    14 Citations (Scopus)

    Abstract

    Purpose - The purpose of this article is to derive, test and validate a comprehensive, inclusive measure of perceptions of fairness in consumers of financial services, as current attempts to measure fairness in a broad-based multi-dimensional manner are underdeveloped. Design/methodology/approach - A quantitative approach where a large-scale sample of the perceptions of financial services consumers is taken in three periods. Subsequently, exploratory and confirmatory factor analysis are used to analyse the data. Findings - Fairness comprises three distinct but related elements, namely, procedural, interactional and distributive fairness, and further sub-dimensions are also apparent. The measurement scale exhibits a high degree of validity and reliability and represents a robust measure of fairness perceptions. Research limitations/implications - Previous conceptual suppositions as to the multi-dimensional nature of fairness are strongly supported. A comprehensive scale is provided for fellow researchers to utilise in other settings. The main limitation is that the measures were tested in a single context, although this is offset by the large scale of the pilot exercise and multiple waves of data collection. Practical implications - Perceptions of fairness can be measured accurately and tracked, measures for sub-dimensions of fairness can be compared and differences among sectors and demographic segments can be explored. Perceptions of fairness can be related to factors such as trust and purchase intentions in addition to other attitudinal measures. Originality/value - The fairness measure developed, tested and validated here is the most comprehensive, multi-dimensional measure of fairness available that the authors know of. As such, it represents a valuable conceptual contribution to the assessment of perceptions of fairness.
    Original languageEnglish
    Pages (from-to)1315-1332
    JournalEuropean Journal of Marketing
    Volume48
    Issue number7/8
    DOIs
    Publication statusPublished - 2014

    Bibliographical note

    The full text of this item is not available from the repository.
    This article is (c) Emerald Group Publishing and permission has been granted for this version to appear here: http://curve.coventry.ac.uk/open/items/d1d64020-8f72-4c4d-a437-fc908f7c62e7/1/ . Emerald does not grant permission for this article to be further copied/distributed or hosted elsewhere without the express permission from Emerald Group Publishing Limited.

    Keywords

    • Fairness
    • Financial services
    • Measurement
    • Scale development

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