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Tài liệu tiếng Anh tham khảo dành cho các anh chị học cao học quản trị kinh doanh, tài liệu chuẩn và rất thiết thực trong công tác làm luận văn, báo cáo. With the serious financial crisis that began in 2008, many banking service personnel lost confidence and even influence their job involvement and job performance. The purpose of this study is to explore the causal relationship among the job uncertainty, job involvement, job stress, and job performance of banking service personnel under the economic depression. Three hundred and sixtythree effective surveys were received from banking service personnel. The data were analyzed by reliability analysis, exploratory factor analysis, confirmatory factor analysis, using the structural equation model to measure the relationship among the constructs. The empirical results found that job instability of banking service personnel has negative influences on job performance and job involvement. However, job instability has a significant positive influence on job stress. Job stress has a positive influence on job involvement and job performance. Job involvement has a positive influence on job performance. The mediating effects of job stress and job involvement can positively influence job performance. Out of these, the most important factor on job performance is job involvement and the second factor is job stress. These findings can provide the direction of reference for the supervisors of the banking institutions to improve their performances, as well as how to face the stress of their staffs and formulate the best decision of management.
Journal of Money, Investment and Banking ISSN 1450-288X Issue 11 (2009) © EuroJournals Publishing, Inc 2009 http://www.eurojournals.com/JMIB.htm The Mediating Effects of Job Stress and Job Involvement Under Job Instability : Banking Service Personnel of Taiwan as an Example Yenhui Ouyang Department of Finance and Banking, Kun Shan University, Tainan, Taiwan E-mail: ouyang@ksu.edu.tw Tel: 886-952236222 Abstract With the serious financial crisis that began in 2008, many banking service personnel lost confidence and even influence their job involvement and job performance The purpose of this study is to explore the causal relationship among the job uncertainty, job involvement, job stress, and job performance of banking service personnel under the economic depression Three hundred and sixty-three effective surveys were received from banking service personnel The data were analyzed by reliability analysis, exploratory factor analysis, confirmatory factor analysis, using the structural equation model to measure the relationship among the constructs The empirical results found that job instability of banking service personnel has negative influences on job performance and job involvement However, job instability has a significant positive influence on job stress Job stress has a positive influence on job involvement and job performance Job involvement has a positive influence on job performance The mediating effects of job stress and job involvement can positively influence job performance Out of these, the most important factor on job performance is job involvement and the second factor is job stress These findings can provide the direction of reference for the supervisors of the banking institutions to improve their performances, as well as how to face the stress of their staffs and formulate the best decision of management Keywords: Job Instability, Job Involvement, Job Stress, Job Performance Introduction Due to the 2008 financial crisis, many banking service personnel around the world have not only lost their confidence, but have also caused unemployment rates to be more serious day by day To promote efficiency and performance, some enterprises have taken the steps of reorganizing their enterprises, merging, and even laying off their employees to reduce manpower cost Therefore, employment relationship between the staff and organization become more unstable and forecast with difficulty Many research pointed out employees with instability in their job have reduced their commitment to their organization, even affecting their job manner, job involvement, and even job performance Moreover, Cohen (1999) supported the importance of job involvement as an antecedent to organizational commitment in particular having a key influence on job performance The purpose of this article is to extend job performance research We will provide a theoretical basis for our construct Journal of Money, Investment and Banking - Issue 11 (2009) 17 of job instability, job stress, job involvement and for job performance its antecedents, and then show how these constructs are related within this context This paper is organized in the following sections First, we examine the relevant literature and then present our hypotheses and research framework The next section gives an overview of the core methodology used, and then the findings from the research are discussed At the end of this paper, the research limitations and managerial implications of this study will be discussed Literature and Hypotheses 2.1 Job Instability Job instability contains two constructs, namely severity of threat and powerlessness The multiplicative operationalization of the subscales shows job insecurity = (severity of threat) x (powerlessness to resist), where severity of threat is comprised of threat to the job and threat to the job’s features (Greenhalgh and Roseblatt, 1984) Isaksson, Pettersson and Hellgren (1998) gave new dimensionality to the conceptualization of job insecurity by adding quantitative and qualitative values to the conceptualization of Greenhalgh and Rosenblatt (1984) Where Greenhalgh and Rosenblatt (1984) conceptualized job insecurity as an affective subjectivity, Isaksson et al (1998) expanded on this definition by regarding job insecurity as thoughts on quantitative and qualitative losses of job features Quantitative job insecurity is concerned with the perceived threats of losing one’s job itself, while qualitative job insecurity refers to the threats to, or uncertainty about, losing important job features and values, such as promotions, salary increases and future career development (De Witte 2005a) Mauno, Kinnunen, Mäkikangas and Nätti (2005) suggested that job insecurity is a subjective estimation of one’s chances of losing a job, which is based on the objective circumstances According to Mauno et al., these objective circumstances become the antecedents of the job insecurity equation Jacobson (1991) further argued that the objective available cues in the environment can be perceived by the individual as threats to his/her current job and/or position These environmental cues may include things such as restructuring, retrenchments and downsizing Johnson et al (1984) found that job performance among individuals who were affected by feelings of job insecurity due to organizational change was significantly lower than that of individuals who showed less inclination towards such feelings According to different studies, job insecurity is also related to work and organizational attitudes (Green, Felstead and Burchell 2000; Human 2002) Consistent with the prior literature and results, we predicted that job instability would be negatively associated with job performance and job involvement H1: Job instability has negative association with job performance (see Figure 1) H2: Job instability has negative association with job involvement (see Figure 1) From the relevant literature, it is evident that job insecurity has been conceptualized and defined in different ways by various researchers and writers (De Witte 2000; Greenhalgh and Rosenblatt 1984; Reisel 2002; Sverke et al 2004) The common factor in the relevant publications is that job insecurity can be conceptualized as a perception that has predictive value as a cause of stress and that it implies consequences for the individual and the organization Due to the subjective nature of this perception, individuals will have different reactions to this possible stressor (Sverke et al 2004) A study by Sverke and Goslinga (2003) revealed that job insecurity has immediate consequences, which may affect the attitudes of individuals and have possible long-term consequences that may affect an individual’s health and behavior Mauno and Kinnunen (1999) conceptualized job insecurity as a stressor irrespective of its conceptualization as global or multidimensional This view includes the application of stress theories to research on job insecurity Some research has been done from the stress framework, which holds that stressors such as demands placed on the employee and the employee’s experienced levels of the strain may produce feelings of job insecurity (De Witte 2000; Sverke et al 2004) Probst’s (2002) integrated model of job insecurity confirms the perspective that job 18 Journal of Money, Investment and Banking - Issue 11 (2009) insecurity is a job stressor From this viewpoint, we predicted that job instability has a significant effect on job stress, and examined the following hypothesis: H3: Job instability has positive association with job stress (see Figure 1) 2.2 Job Involvement Job involvement is defined as the degree to which a person identifies psychologically with his or her work and the importance of the work in their total self-image (Lodhal and Kejner 1965) Zagenczyk and Murrell (2009) investigated the relationship between advice-giving, advice-receiving, and employee work attitudes, and found that while advice-giving and advice-receiving were positively related to job involvement, only advice-receiving was positively related to work-unit commitment Job involvement is strongly significant, and can be perceived as a reflection of work experiences (Cohen, 1999) Individuals may become involved in their jobs in response to specific attributes of the work situation (Mudrack, 2004) If the staff has positive feelings toward their work, they will also view the goals and the stipulations that the organization has established more positively Indeed, many theorists have hypothesized that highly job-involved employees will put forth substantial effort towards the achievement of organizational objectives and be less likely to leave their employers (Kanungo, 1979; Lawler, 1986; Kahn, 1990; Pfeffer, 1994) Emery and Barker (2007) suggest that the organizational commitment of customer contact personnel was significantly correlated with customer satisfaction, but not with profits and productivity On the other hand, the job involvement of customer contact personnel was significantly correlated with all three outcomes Dimitriades (2007) explored the usefulness and highlighted the nature of the interrelationship(s) between service climate and job involvement with regard to their impact on the customer-focused organizational citizenship behaviors (OCB) of frontline employees in a diverse cultural context within Greece He provided empirical evidence of the applicability in Greek service contexts, and illuminated the complex nature of the inter-relationships between organizational climate for service and job involvement in predicting customer-oriented organizational citizenship behaviors, expanding the OCB literature Cohen (1999) argued that individuals with high levels of job involvement, which stem from positive experiences on-the-job (Kanungo, 1979; Witt, 1993), attribute these experiences to the organization We thus predicted that job involvement has a significant effect on job performance and examined the following hypothesis: H4: Job involvement has positive association with job performance (see Figure 1) 2.3 Job Stress The term “stress” originated in the field of physics and was transferred into psychology Basically, the idea is that human beings tend to resist external forces acting upon them, just as physical materials and bodies (Hobfull, 1989) Today the concept of stress is widespread but controversial Job stress can be defined as an employee’s awareness or feeling of personal dysfunction as a result of perceived conditions or happenings in the workplace, and the employee’s psychological and physiological reactions caused by these uncomfortable, undesirable, or threats in the employee’s immediate workplace environment (Montgomery et al., 1996) Job stress has received substantial attention in past research on accountants like the individuals included in this study (Fisher, 2001; Bernardi, 1997; Patten, 1995; Choo, 1987) Job stress is very much an individual reaction and is different from general stress as it is also organization and job related (Montgomery et al., 1996) A number of aspects of working life have been linked to stress Aspects of the work itself can be stressful, namely work overload (DeFrank and Ivancevich, 1998; Sparks and Cooper, 1999) and role-based factors such as lack of power, role ambiguity, and role conflict (Nelson and Burke, 2000) Threats to career development and achievement, including threat of redundancy, being under-valued, and unclear promotion prospects are stressful (Nelson and Burke, 2000) Stress is associated with impaired individual functioning in the workplace Negative effects include reduced efficiency, decreased capacity to perform, dampened initiative and reduced interest in working, increased rigidity of thought, 19 Journal of Money, Investment and Banking - Issue 11 (2009) a lack of concern for the organization and colleagues, and a loss of responsibility (Greenberg and Baron, 1995) Based on these prior findings the following hypotheses were formulated and tested: H5: Job stress has positive association with job involvement (see Figure 1) H6: Job stress has positive association with job performance (see Figure 1) 2.4 Job Performance According to Porter and Lawler (1968), there are three types of performance One is the measure of output rates, amount of sales over a given period of time, the production of a group of employees reporting to manager, and so on The second type of measure of performance involves ratings of individuals by someone other than the person whose performance is being considered The third type of performance measures is self-appraisal and self-ratings As a result, the adoption of self-appraisal and self-rating techniques are useful in encouraging employees to take an active role in setting his or her own goals Thus, job performance measures the level of achievement of business and social objectives and responsibilities from the perspective of the judging party (Hersey and Blanchard, 1993) Figure 1: Conceptual framework Job Instability H1 H2 H3 Job Involvement H4 Job Perform ance H6 H5 Job Stress Methodology According to the needs of each research variable and hypothesis, SPSS 15.0 for Windows and Amos 7.0 were used to analyze the data The instrument was administered as a questionnaire survey to 500 employees of financial services organizations A total of 345 responses were received, resulting in an overall 69% response rate This questionnaire adapted items from the relevant literature to gauge the respondents attitudes to the four factors of job instability, job stress, job involvement, and job performance on a seven-point Likert scale, anchored on strongly disagree (1) and strongly agree (7) Respondents were asked to answer questions on the four variables The period of survey was from January, 2009 to March, 2009, with banking employees used as the sample The statistical procedures and measures used in this paper are methodologies recommended by Bontis et al (2000), and Khong and Richardson (2003) These methodologies aim to find the casual relationships among job instability, job stress, job involvement, and job performance The procedures and measures, in chronological order, are (1) Reliability analysis (2) Exploratory factor analysis (3) Confirmatory factor analysis (4) Structural equation modeling (SEM) 20 Journal of Money, Investment and Banking - Issue 11 (2009) Results 4.1 Reliability Analysis and Exploratory Factor Analysis While this analysis is used to reduce numerous variables to a more manageable set of factors (Aaker and Day,1986), all the loadings of items are below 0.5, and substantial cross-factor were eliminated from the final scale After removing these variables (α0.90 CFI>0.90 IFI>0.90 Job Instability 2.373 0.994 0.061 0.968 0.993 0.996 0.995 Job Involvement 1.957 0.989 0.051 0.967 0.990 0.995 0.995 Job Stress 1.23 0.993 0.025 0.980 0.993 0.999 0.995 Job Performance 0.235 0.961 0.061 0.952 0.955 0.974 0.974 Based on the CFA results, we analyzed convergent validity, discriminant validity, and reliability of all the multiple-item scales, following the guidelines from previous literature (e.g., Fornell and Larcker, 1981; Gefen and Straub, 2005) The measurement properties are reported in Tables and Reliability was assessed in terms of composite reliability, which measured the degree to which items are free from random error and therefore yield consistent results Composite reliabilities in our measurement model ranged from 0.8439 to 0.9207 (see Table 2), above the recommended cutoff of 0.70 (Fornell and Larcker, 1981; Nunnally and Bernstein, 1994) Convergent validity was assessed in terms of factor loadings and average variance extracted According to the prior study, convergent validity requires a factor loading greater than 0.60 and an average variance extracted no less than 0.50 As shown in Table 1, all items had significant factor loadings higher than 0.60 Average variances 21 Journal of Money, Investment and Banking - Issue 11 (2009) extracted ranged from 0.5396 to 0.6618, suggesting adequate convergent validity Thus, all factors in the measurement model had adequate reliability and convergent validity To examine discriminate validity, we compared the shared variances between factors with the average variance extracted of the individual factors Table shows the inter-construct correlations off the diagonal of the matrix This showed that the shared variance between factors were lower than the average variance extracted of the individual factors, confirming discriminate validity (Fornell and Larcker, 1981) In summary, the measurement model demonstrated discriminate validity Table 2: Reliability and factor loadings Constructs/Measurement Items Job Instability Maybe I will be lay off or fired in the near future I may be lowered a salary in the future I may be adjusted on my duty Job Involvement a Job Intention I think that the work has already become my main goal of my life Job is my major goal in my life Most of time I like to immerse in my job Working is the most important matter in my life and nothing is better than working b Job Commitment Standard ized loadings CR AVE 0.8439 0.6472 0.8858 0.6618 0.868 0.5698 0.858*** 0.887*** 0.647*** 0.84*** 0.71*** 0.86*** 0.77*** I spend most of time and concentrate on my job 0.77*** Job Stress I often feel nervous while I am working 10.It is very difficult for me to sleep at night with heavy burden on job 11 My job loading is too heavy 12 I feel very tired after came back from my office 0.859*** 0.769*** 0.758*** 0.685*** 13 Sometimes I feel stomach ache 0.690*** Job Performance a Work Result 14.I can complete each work and record quickly and effectively 15.I am rather skilled in the working process of standard procedure 16.The work which was assigned to me by my superior can be completed punctually b Work Behavior 17 When I have a difficulty in my job, my colleague will support and encourage me 18 Having the good relationship can make the work more easy to complete 19 I feel I can get along with my colleague 20 I can complete my duty according to the standard procedure 21 Having more professional licenses, I will have a competitive ability on my work c.Work efficiency 22 I usually program and arrange the progress of my job 23 I would like to pay additional effort to reach the target I set 0.9207 0.68*** 0.78*** 0.84*** 0.71*** 0.73*** 0.63*** 0.77*** 0.60*** 0.77*** 0.80*** 0.5396 22 Table 3: Journal of Money, Investment and Banking - Issue 11 (2009) Inter-Correlation Results Construct Job Instability Job Instability Job Involvement Job Stress Job Performance 6514 -.184(**) 627 Job Involvement 197(**) 188(**) 5725 Job Stress -.223(**) 495(**) 117(*) 5396 Job Performance Note: All correlations are significant at the 0.01 level (2-tailed) The diagonals represent the average variance extracted 4.3 The Result of Structural Model SEM is a model analysis technique encompassing methods such as covariance structure analysis, latent variable analysis, confirmatory factor analysis, path analysis and linear structural relation analysis (Hair et al., 2006) SEM is also particularly useful in this paper because it can estimate “a series of separate, but interdependent, multiple regression equations simultaneously” in a specified structural model (Hair et al., 2006) Therefore, SEM is the most suitable analysis to estimate the strength of casual relationship of these constructs We formulated an SEM using AMOS 7.0 to analyze our model Bogozzi and Yi (1988) suggested a similar set of fit indices used to examine the structural model (see Table 3) Comparison of all fit indices with their corresponding recommended values, provided evidence of a good model fit ( x / d f =2.81, 59 degrees of freedom, AGFI= 0.895, CFI =0.953, NFI= 0.930,IFI=0.961, RFI= 0.915, PNFI=0.703, PGFI=0.604 and RMSEA 0.071) Thus, we could proceed to examine the path coefficients of the structural model Table 4: Results of the best fitting model Fit Indices Benchmark Value 0.9 0.08 165.928 59 2.81 0.932 0.071 0.80 0.90 0.90 0.90 0.90 0.895 0.930 0.953 0.954 0.908 0.50 0.50 0.604 0.703 Absolute fit measures CMIN (χ ) DF CMIN (χ 2)/DF GFI (Goodness of Fit Index) RMSEA (Root Mean Square Error of Approximation) Incremental fit measures AGFI (Adjusted Goodness of Fit Index) NFI (Normed Fit Index) CFI (Comparative Fit Index) IFI (Incremental Fit Index) RFI (Relative Fit Index) Parsimony fit measures PGFI (Parsimony Goodness of Fit Index) PNFI (Parsimony Normed Fit Index) 4.4 Analysis of paths Properties of the causal paths ( standardized path coefficients) are shown in Fig The effect of job instability on Job Performance was significant (γ= -0.165) Thus, H1 was supported As expected, job instability had a strong negative and highly significant influence on job performance (γ=-0.237) Thus, H2 was supported Consistent with our theoretical expectation, job instability had a strong positive and highly significant influence on job stress (γ = 0.218), suggesting support for H3 Job involvement had a strong positive significant influence on job performance (β = 0.627), supporting H4 Job stress had a strong positive and highly significant influence on job performance (β= 0.104), supporting H5 It is worth noting that the effects of job stress on job involvement was significant (β= 0.218) H6 was also supported As shown in Fig 2, altogether, job instability, job stress, and job involvement accounted for 48.7% of the variance in job performance The direct, indirect and total effects of job instability on job 23 Journal of Money, Investment and Banking - Issue 11 (2009) performance were -0.165, -0.096, and-0.261 respectively However, the direct effect (-0.165) of job involvement on job performance showed a stronger negative effect than the direct effect (-0.096), exhibiting job stress and job involvement were not the key mediators to influence on job performance The direct, indirect and total effects of job stress on job performance were 0.104, 0.136, and 0.241, respectively However, the indirect effect (0.136) of job stress on job performance shows a stronger effect than the direct effect (0.104), exhibiting job involvement was also the key mediator to influence on job performance Table 5: The effects of Job Instability, Job Stress, and Job Involvement on Job performance Direct effect -.165 104 627 Job Instability Job Stress Job Involvement Indirect effect -.096 136 N.A Total effect -.261 241 627 Figure 2: Hypotheses testing result C h i- s q u a r e = D f= :R M S E A = G F I = ; A G F I = C F I= ;N F I= ; IF I = ; R F I= P G F I = ;P N F I= J o b In sta b ility -.1 * * -.2 * * * * * * Job In v o lv e m e n t * * * Job P e r fo r m a n c e * * * * J o b S tr e ss Note: ***p