A study of service quality of stockbrokers in Mauritius : a multi-expectations framework

Abstract

The stockbroking industry is a service-oriented industry where brokers act as agents for investors when a security is bought or sold and are compensated with a commission. Stockbrokerage houses have much to gain if they can understand investors' expectations since this would assist them in serving their clients better and build long-term relationships with them. This study aimed to develop a measure of service quality for the stockbrokerage industry. Data were collected from investors in Mauritius and findings revealed that the SERVQUAL scale needs to be modified for the stockbroking industry. The relationship between antecedents such as locus of control and investors' expertise, and desired and adequate service expectations were generally very strong. This study also ascertained the relationship between MSS, MSA and satisfaction