Determinants of Bank Selection: A Study of Undergraduate Students in the University of Ghana

Robert E. Hinson, Aihie Osarenkhoe, Abednego Feehi Okoe

Department of Business & Economic Studies, Faculty of Education & Economics, University of G?vle, G?vle, Sweden.
University of Ghana Business School, Legon-Accra, Ghana.
University of Professional Studies, Legon-Accra, Ghana.

DOI: 10.4236/jssm.2013.63021                

Abstract

The aim of this study is twofold: first, to investigate bank selection criteria among undergraduate students in the University of Ghana, and second, to relate this study with previous findings on the same phenomenon. Extant studies have adopted mainly quantitative approach. In order to bridge this gap and contribute to existing knowledge, qualitatively inspired research design was adopted, thus facilitating in-depth understanding of the determinants of bank selection. Findings show that convenience, bank staff-customer relations and banking services/financial benefits are the first three most important determining factors. Furthermore, happiness, joyfulness, cheerfulness and delight are feelings derived after a banking service; whiles sadness, anger and deceit are avoided. Studies on the bank selection criteria employed by undergraduates are scanty inWest Africa, and this study makes a contribution in that direction. Future studies will continue from this one.

Keywords

Bank Industry; Selection Criteria; Decision Hierarchy Model; University of Ghana

Conflicts of Interest

The authors declare no conflicts of interest.

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