Tóm tắt tiếng anh: Nghiên cứu sự hài lòng của sinh viên với giá trị và chất lượng dịch vụ của các trường đại học công lập khối kinh tế và quản trị kinh doanh ở Việt Nam.

MINISTRY OF EDUCATION AND TRAINING
THUONGMAI UNIVERSITY
  

VŨ TUẤN DƯƠNG

RESEARCH ON STUDENTS SATISFACTION
WITH THE VALUE AND QUALITY OF SERVICES
OF PUBLIC UNIVERSITIES OF ECONOMY AND
BUSINESS MANAGEMENT IN VIETNAM
MAJOR: TRADE BUSINESS
CODE: 934.01.21

DISSERTATION SUMMARY


Ha Noi, 2022

The dissertation was completed at Thuongmai University
Advidsors:
1. A/Prof.Dr. Nguyen Hoang Viet
2. Dr. Vu Van Hung

Judge 1:

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Judge 2:

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Judge 3:

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The dissertation will be defended at the Dissertation Committee at
Thuongmai University
at ........................... date ................. month ................. year ...............

Dissertation available at:
– National Library
– Thuongmai University’s library


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INTRODUCTION
1. Rationale
In recent years, the integration trend and the effects of the industrial revolution 4.0
have substantially impacted economic activities on a global scale. In the face of challenges
from the business environment, several points of view on the need to consider and rethink
issues related to service marketing have been proposed. Some believe that the essential factor
in helping satisfy customers' needs when using products and services is service quality and the
need to consider issues of service value to customers. Even service value plays a more critical
role in today's business context (Kotler, 2010). Higher education services are considered
particular services (Zeithaml et al., 2006) and are closely associated with the development
process of learners. Therefore, analyzing and clarifying the concept of service quality and
value is extremely necessary to improve business efficiency and the development of society. In

recent years, many new educational development trends have been formed along with the
integration and interference between educational backgrounds of different countries, which has
created significant changes in the education service business. Therefore, it is necessary to
clarify the constitutive factors of service quality, higher education service value, and these
factors' impact on student satisfaction.
If higher education in Vietnam was recognized as a career activity in the past, now
higher education is widely recognized as a type of service, especially when the private
economic sectors or economic sectors with foreign investment capital participate in the market.
This point of view is further reinforced.
When higher education services are approached as a pure service, student satisfaction
plays a vital role in developing higher education institutions. Therefore, considering the factors
affecting customer satisfaction will assist universities in finding orientations and solutions to
upgrade comprehensive services. Before integrating the economy, the labor market is also
changing, creating additional requirements for human resource training. Although the view of
considering higher education as a type of service has been accepted by most of the managers,
the problem of measuring and assessing the impact of the quality and value of higher education
services on satisfaction of students at public universities in economics and business
administration in Vietnam, there are still many limitations. The analysis and clarification of
factors constituting the quality and value of higher education services have not yet been
focused on. Instead, universities tend to provide relatively subjective assessment and survey
criteria. The methods of assessing student satisfaction with the services provided by the school
are relatively simple, primarily reused in descriptive statistics. Empirical studies on a wide
range of studies to evaluate the relationship between service quality, service value and
satisfaction of students attending public schools of economics and business management are
very limited in quantity. Large-scale studies applying modern research methods will contribute
to building a panorama picture of the current relationship between the quality and value of
higher education services on students satisfaction, thereby providing policy implications and
recommendations for universities in making the correct development orientation in the future.
From the analysis on the importance of student satisfaction with service quality, service
value to human resource development and higher education. The Ph.D. student decided to

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implement the topic “Research on students satisfaction with the value and quality of services
of public universities of economy and business management in Vietnam.”
2. Research objectives and missions
The thesis aims to propose solutions to improve student satisfaction with the value and
service quality of public universities in economics and business administration in Vietnam.
Specific objectives: (1) Theoretical system of service value, service quality, and customer
satisfaction. From there, a research model and the relationship between the quality and value of
higher education services have been established for student satisfaction; (2) Analysis and
assessment of the current status of student satisfaction with the quality and value of higher
education services of public universities in economics and business administration in Vietnam;
(3) Proposing several solutions to improve student satisfaction with the quality and value of
higher education services of public universities in economics and business administration in
Vietnam.
3. Research objects and scopes
Research subjects
The object of the thesis is the theoretical and practical issues of student satisfaction
with the service quality and value of public universities of economics and business
administration in Vietnam.
Research scope
Survey subjects: Students study full-time at public economics and business
administration universities. To ensure that the collected information is obtained from the
subjects who can perceive the service quality and value at a reliable level, the respondents
include students in the 2nd, 3rd year and 4th year was selected for the survey.
- The thesis focuses on researching two main contents, including: (1) The influence
of the constitutive factors of service quality and value on student satisfaction; (2) Influence
of service quality components on service value components. Due to resource limitations,

the research sample size is too large and the difficulties caused by the Covid-19 epidemic
in data investigation and survey, the research can only collect data samples from 12 typical
public universities in economics and business administration.
- Scope of the study over time: The secondary data of the study were collected
during the period from 2019 to 2020. The primary data were from in-depth interviews,
focus group interviews and other studies. Survey questionnaires were conducted from
September to December 2020.
- Research scope of space: according to the name of the research thesis, the scope
of research will include all public universities of economics and business administration in
Vietnam. However, because of the mentioned limitations and difficulties, the study focused
on 12 public universities in Vietnam's economic and business administration sector. These
universities are located in selected localities to plan and develop typical regional
universities. Among the 12 selected universities, there are also many universities belonging
to the critical group of the region.
4. Research methodology


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In this thesis, qualitative and quantitative research methods are used to solve the
research objectives. Qualitative research is used in in-depth interviews with experts and
focus group interviews with students. Quantitative research methods are applied to analyze
the influence of service quality and service value on student satisfaction. The software
supporting primary data analysis includes SPSS 20 and AMOS 23. Descriptive statistics,
multi-group difference test, EFA exploratory factor test, Cronbach Alpha reliability
coefficient test, and Cronbach Alpha test. Harman's Single-factor determination was
performed by SPSS 20 software. Meanwhile, confirmatory factor test CFA, latent common
factor test, SEM linear structure model analysis and intermediate effect test were
performed by AMOS 23 software.
5. Expected scientific contributions of the dissertation

Scientific contributions
Based on applying and developing the research results of Firdaus (2005); Gamage
et al. (2008); Jain et al. (2013); Chen et al. (2007); LeBlanc and Nguyen (1999), Sweeney
and Soutar (2001), and Helgesen and Nesset (2007), research has successfully built a
model to measure service quality, higher education service value and students satisfaction
at public universities in economics and business administration. Specifically, service
quality is determined to include five main factors, including (1) Academic factors, (2) Nonacademic factors, (3) Training program, (4) Facilities and (5) Industry interaction.
Meanwhile, service value is indicated with four components: (1) Functional value; (2)
Emotional value; (3) Social values; (4) Epistemic value. The results of the research model
building become a premise to continue analyzing the current status of the influence of
service quality and value on student satisfaction.
Practical contributions
Firstly, the research results will help universities (mainly public universities of
economics and business administration in Vietnam) understand the components of quality
and service value of higher education from the perspective of students' perception. Second,
the analysis of the impact of factors on service quality and service value shows some
differences with other studies, such as industry interaction factors are not having an impact
on students satisfaction. Third, considering the value of β coefficient from the SEM linear
structural model analysis results, it has also shown that the service value has a clear impact
on student satisfaction and is not inferior to the quality of the service. Fourth, the study has
conducted multi-group tests according to demographic criteria to clarify students'
assessments of the factors in the research model.
6. Dissertation organization
In addition to the Introduction, Literature review, Conclusion, References and
Appendix, the dissertation consists of 5 chapters as follows:
Chapter I: Overview of the previous studies
Chapter II: Theoretical issues of student satisfaction with the value and service
quality of universities
Chapter III: Research background and methods

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Chapter IV: Research results on student satisfaction with the value and service
quality of public universities of economics and business management in Vietnam
Chapter V: Perspectives, orientations, and solutions to improve student satisfaction
with public universities' value and service quality in economics and business management
in Vietnam.

CHAPTER I: OVERVIEW OF THE PREVIOUS STUDIES


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1.1. Overview of previous studies related to the research topic
1.1.1. Previous studies on customer satisfaction and student satisfaction
Customer satisfaction is an essential concept in marketing research and has
continuously been supplemented and perfected over the past decades by its importance in
theory and practice. Customer satisfaction is closely related to behavior, repurchase,
customer loyalty (Cronin et al., 2000) and is considered a factor affecting business
performance (Cronin et al., 2000; Otto et al., 2020). Based on the synthesis and analysis of
the past research situation, it is possible to divide the studies on customer satisfaction and
student satisfaction into the following groups: (1) First, the researches on concepts and
theoretical approaches to customer satisfaction and student satisfaction. (2) Second, the
research on measuring customer satisfaction and student satisfaction. (3) Third, studies on
the factors affecting customer satisfaction and student satisfaction.
Based on theoretical issues from research in the service industry, many studies on
student satisfaction have been carried out. Factors considered an influence on student
satisfaction is also very diverse.
1.1.2. Previous studies on service quality and service quality in higher education

For a long time, there have been many controversial views on the nature of service
quality when placed next to the concepts of value and satisfaction. However, as of late,
most scholars agree that service quality is a significant concept in marketing and is entirely
separate from other concepts. Studies on translation quality have some specific
orientations: (1) First, studies on service quality definitions and approaches, (2) Second,
studies on components of service quality and higher education service quality.
Due to the disagreements, in theory, the determination of the constitutive factors of
service quality is also very diverse (Yildiz and Kara, 2009). Many service quality scales are
widely applied in research studies and service quality assessment activities in actual
business activities. Some outstanding works on determining the elements constituting
service quality can include the study of Gronroos (1984), Parasuraman et al. (1988),
Cronin and Taylor (1992). Constructive factors higher education service quality is built
based on theories on the elements constituting service quality. Many well-known scales to
measure the quality of higher education services are inherited from well-known research
results on service quality (Firdaus, 2005). The widely considered and recognized factors
can include academic, non-academic, training programs, facilities...
1.1.3. Previous studies on service value and service value in higher education
Value is gradually becoming an essential factor determining the ability of
products/services to satisfy the needs of products/services in the modern business context
(Nguyen Hoang Viet and Nguyen Bach Khoa, 2014). From the analysis of research
directions on service value, some prominent research topics about this concept include: (1)
First, the research on concepts and theoretical approaches to service value. service value
and higher education service value. (2) Second, the study of constitutive factors, service
value and service value of higher education.


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Studies in recent years tend to support the view of specifically dividing service
value into components to evaluate customer perceptions in detail (LeBlanc and Nguyen,

1999; Sweeney and Soutar, 2004). 2001; Previte et al., 2019). In higher education, research
on service value is also prevalent and attracts the attention of researchers. Basically, the
elements constituting the value of educational services are not much different from the
studies on the overall service value. Some prominent constitutive factors often considered
in studies on higher education service value include Functional value (Hoang Thi Phuong
Thao and Hoang Trong, 2006; LeBlanc and Nguyen, 1999); Emotional value (Hermawan,
2001; Ledden et al., 2007); Social value (Brown and Mazzarol, 2009; Santini et al., 2017);
Epistemic value (LeBlanc and Nguyen, 1999; Giantari et al., 2021).
1.1.4. Previous studies on the relationship between service quality, service value and
student satisfaction
The relationship between quality, service value, and satisfaction is the most crucial
topic in modern marketing research. In general, service quality and value are widely
recognized as factors that positively influence customer satisfaction (Fornell et al., 1996;
Andreassen and Lindestad, 1998). In their research work, Cronin et al. (2000) conducted a
synthesis and analysis of studies on the relationship between quality, value, satisfaction,
and customers' behavioral intentions. Past studies have tested some constructs of this
relationship through quantitative analyses.
The relationship between quality, value and satisfaction has also been examined in
studies in higher education. Most studies agree that service quality positively affects
service value, and both of these factors are likely to enhance student satisfaction. Based on
the proposed research models and obtained results, perceived value often plays a mediating
role in the relationship between service quality and student satisfaction in past studies
(Alves et al. Raposo, 2007; Brown and Mazzarol, 2009; Teeroovengadum et al., 2019).
1.2. Research gaps and questions
1.2.1. Research gaps
The synthesis and analysis from the domestic and foreign research overview on
service quality, service value, and student satisfaction. Some of the issues that need to be
considered include:
First, the studies on service quality are diverse and the number of proposed service
quality components according to the research context is also huge. This situation reflects

that the research scales have not ensured the appropriateness and uniformity in different
research environments. Therefore, developing a scale of higher education service quality is
a necessary task.
Second, studies on the value of higher education services are limited, and the
theoretical basis for the concept of "service value" has many inconsistencies. Some
scholars approach "perceived value," others use the term "customer value" to imply, and
some studies divide value according to specific aspects.
Third, studies on the impact of service quality on student satisfaction receive
significantly more attention than the relationship between service value and student


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satisfaction. Besides, there have not been many studies examining the cross-effects of all
three concepts in the context of higher education service research.
Fourth, studies on the relationship between service quality, service value and
student satisfaction in Vietnam are minimal, while this is a big question in the research
world. Whether perceived quality or value is intermediate in the relationship between
quality and satisfaction or value is shaped after customers have experienced and evaluated
satisfaction is still a question. Large research drums need to be explored. Past studies have
partly shown that differences in context can lead to different approaches between the three
factors of quality, value and satisfaction. In addition, most studies have not considered
putting the research content in the context of the development of higher education services
in Vietnam in recent years because it is not possible to consider the effects of some new
trends such as university autonomy, industrial revolution 4.0.
1.2.2. Research questions
From the analysis from the research overview of the works and the problems posed.
Some of the research questions posed in this thesis are as follows:
What factors make up the service quality and value of higher education services at public
universities in economics and business administration in Vietnam?

- What components of higher education service quality and value impact student
satisfaction and to what extent? Is there a detailed relationship between the components of
service quality and the value of higher education services in Vietnam?
- What solutions for universities and state agencies to improve student satisfaction based
on service quality and value?


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CHAPTER II: THEORETICAL ISSUES OF STUDENTS SATISFACTION WITH
THE VALUE AND SERVICE QUALITY OF UNIVERS
2.1. Some definitions and concepts
2.1.1. Higher education services and services
2.1.1.1. Service
According to Gronroos (1990), services are activities of an intangible nature that
occur during the interaction between the customer and the service staff or the physical
resources or goods of the service provider to satisfy the customer demand. In terms of
characteristics, most studies acknowledge four major characteristics of services, including
Intangibility; Inseparability; Non-storability, Heterogeneity. In summary, despite the
diversity of definitions and views about service, most of the studies agree that service is an
activity to satisfy human needs with basic characteristics. include: Intangibility; Nonstorability; Heterogeneity; Inseparability.
2.1.1.2 Higher education services
Currently, under the influence of the market economy and the context of increased
industry competition, education is gradually becoming a pure service in which customers
(students, parents) can choose and decide to invest in a supplier (schools) that they see fit
(Pham Thi Lien, 2016). On a global scale, the view that higher education is a pure service
is widely accepted. Oldfield and Baron (2000); Cuthbert (1996) argue that higher education
can be recognized as a "pure service" with total primary attributes of the service. In this
study, “Higher education service is understood as a type of service provided by higher
education institutions to help learners develop knowledge, skills and personality through

learning activities. , Practise."
2.1.2. Student satisfaction
2.1.2.1 The definitions of student satisfaction
Student satisfaction also plays an essential role for both learners and higher
education institutions like customer satisfaction. For the benefit of learners, the studies of
Chumney and Ragucci (2006), Baldwin et al. (1997), Bean and Bradley (1986) have shown
the positive effects of student satisfaction on performance learning outcomes as well as
output quality. For educational institutions, student satisfaction greatly impacts student
engagement and loyalty, thereby helping universities maintain regular training activities.
Schertzer and Schertzer, 2004; Helgesen and Nesset, 2007). Based on past research results,
it is possible to generalize, “Student satisfaction is understood as the satisfaction of needs,
expectations, feelings as well as attitudes and emotions of students towards students. with
the educational services provided by the university.”
2.1.3. Service quality
Most studies approach service quality as a measurement framework; this approach
describes service quality based on its constituent elements. Quality is seen as the units of
good quality packaged in a product or service (Ghobadian et al., 1994). Meanwhile,
Parasuraman et al. (1985) argue that service quality measures how well the service
provided meets the customer's expectations. In summary, from the synthesis and analysis,


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it is possible to conceptualize "service quality is the totality of features and characteristics
of a service that have an impact on the ability to satisfy customers' needs."
Due to disagreements about the definition and nature, measuring and identifying
factors affecting service quality are very diverse (Yildiz and Kara, 2009). Most of the
studies on service quality consider the constitutive factors of the construction of a scale
closely related to identifying factors affecting service quality. Some prominent factors
constituting service quality and are commonly applied in building the scale include (1)

Reliability; (2) Assurance; (3) Responsiveness; (4) Empathy; (5) Tangibility; (6) Technical
Quality (Technical Quality); (7) Functional Quality.
2.1.4. Service value
Nguyen Hoang Viet and Nguyen Bach Khoa (2014) argue that product/service
quality demonstrates essential characteristics and helps customers satisfy basic needs.
However, the value of products/services can do better when satisfying customers' wishes.
Zeithaml (1988) has divided service value according to the aspects perceived by
customers, including four statements: Value is low selling price; Value is the quality
received from the price paid; Value is desired satisfaction; Value is what customers get
from what customers pay for.
In this study, service value is understood as the difference/ratio between the
monetary and non-monetary costs that customers spend and the benefits customers
perceive to create the ability to satisfy customers' needs with that type of service”.
Regarding the elements constituting service value, researchers often divide service value
into the following aspects: (1) Functional Value/want satisfaction; (2) Emotional Value; (3)
Social Value (Social Value); (4) Functional Value/price-quality; (5) Conditional Value.
2.2. Concept, content and relationship between higher education service quality and
value and student satisfaction
2.2.1. The concept and content of higher education service quality
The concept of higher education service quality is also considered a vague and
controversial concept (Cheng and Tam, 1997). The definition of higher education service
quality depends on stakeholders such as students, parents, society and the government, but
can be divided into five main groups of views as follows: Quality quality is superiority;
Quality is fitness for purpose; Quality is transformation; Quality is perfection; Quality is
value for money (Harvey, 1995). In the scope of the research of this thesis, “The quality of
higher education services from the perspective of students is understood as the difference
in perception between expectations and the actual level of student's satisfaction."
Determining the specific components of educational service quality is a matter of
disagreement among researchers (Voss et al., 2007). Because of the differences in the
characteristics of education systems globally, determining factors affecting the quality of

higher education services is also very diverse. In addition, the approach angle is also an
issue related to the identification of factors. Some important factors of higher education
service quality include: (1) Academic factors; (2) Non-Academic Factors (Non –
Academic); (3) Training Program; (4) Facilities; (5) Industry Interaction; (6) Career


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Prospect; (7) Assessment; (8) Social Activities; (9) Reputation; (10) Location.
2.2.2. The concept and content of the value of higher education services
Most of the studies on the value of higher education services have their inheritance
from the studies on the service value and support the view that measuring the value of
higher education services is based on the benefits received return and expenses. However,
studies on educational service value also have theoretical and scale developments
compared with general service value studies. LeBlanc and Nguyen (1999), based on the
theoretical foundations of service value theory of Sheth et al. (1991) and Zeithaml (1988),
proposed six groups of elements constituting educational service value, including
functional value, functional value/wants satisfaction, social value, emotional value, image
value. Based on the theoretical foundations of service value and research results on
translation value in the context of the educational environment, it is possible to
conceptualize “The value of higher education services is the difference/billion ratio
between the costs that students spend and the benefits received to satisfy needs with higher
education services.”
Because higher education services focus on bringing knowledge, skills as well as
career opportunities to learners, besides the fundamental value factors from research on
service value, there are also some typical elements of this type of service such as (1)
Functional value/want satisfaction; (2) Emotional value; (3) Social value; (4) Functional
value/quality-price; (5) Epistemic value; (6) Image Value; (7) Conditional value.
2.2.3. The relationship between service quality, educational service value and student
satisfaction

The relationship between higher education service quality and student satisfaction
has been verified in many studies in Vietnam and around the world (Hishamuddin et al.,
2008). Firdaus (2005) argues that five components of higher education service quality,
including academic, non-academic, reputation, training program, and access, positively
impact student satisfaction. Meanwhile, Kara and Deshield (2004) point out that faculty
performance, counseling performance and classes are three factors of service quality that
affect student satisfaction. Several case studies have shown the relationship between
service quality and service value in higher education services (Brown and Mazzarol, 2009;
Alves and Raposo, 2007). In Vietnam, Hoang Thi Phuong Thao and Hoang Trong (2006)
approved the application of a service quality scale including three factors: Training
activities; Infrastructure; The quality of support and the service value scale of LeBlanc and
Nguyen (1999) have shown that the value and quality of higher education services have a
positive impact on student satisfaction at the University of Economics Ho Chi Minh City.
2.3. Research model of the relationship between higher education service quality and
value and student satisfaction and research hypotheses
2.3.1. Research models
2.3.1.1. Several previous research models
The American Customer Satisfaction Index (ACSI) model
Fornell et al. (1996) researched to create a customer satisfaction rating scale based


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on customer performance and perceived level. In this study, customer satisfaction was
defined as a comprehensive assessment of service use or after-sales activities of service
providers. The ACSI (American Customer Satisfaction Index) model's main factors include
perceived quality, expectation affecting the perceived value, and all three of these factors
impact customer satisfaction.

Figure 2.1. Fornell et al. (1996) ACSI satisfaction model

Source: Fornell et al. (1996)
Alves and Raposo's student satisfaction model (2007)
Alves and Raposo (2007) developed the ACSI model of Fornell et al. (1996) to establish
and test the new model with primary data collected from 2678 students from 13 universities in
Portugal. In this model, perceived quality has been divided into two components, including
technical quality perceived and functional quality perceived. The image element is
complementary and has a direct impact on expectations, student satisfaction, and student loyalty.
In addition, Alves and Raposo (2007) replaced the element of customer complaints with wordof-mouth actions.

Hình 2.2. Mơ hình sự hài lịng của sinh viên của Alves và Raposo (2007)
Nguồn: Alves và Raposo (2007)
The Brown and Mazzarol (2009) model
Research by Brown and Mazzarol (2009) analyzed the detailed impact of service quality
and value components on student satisfaction. This research direction helps to clarify the
links between quality, value and student satisfaction, thereby promising to bring more
specific policy implications for educational administrators. Instead of using second-order
factors, Brown and Mazzarol (2009) model test the direct effects of factors. The results
have shown that when there exists a relationship between the constitutive factors of service
quality and value, these factors influence student satisfaction and loyalty.


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Figure 2.3. Model of the influence of image, service quality and value on student
satisfaction by Brown and Mazzarol (2009)
Source: Brown and Mazzarol (2009)
2.3.1.2 Building a research model
To build a theoretical research model and propose a scale, the author uses the
results of qualitative studies, namely in-depth interviews and focus group interviews. In
order to ensure the reliability of the proposed research model, the elements of the model

will be consulted by two groups of subjects including: (1) A group of expertsrepresentatives of a highly qualified team and managers with practical experience on the
research topic; (2) The student group represents customers who directly experience the
service and is also the main research object of the study. The groups of factors included in
the research model and the observed variables selected for the official scale will be based
on the opinions of experts and the perception of the students.
2.3.2 Selection of research scales for qualitative research
After conducting the analysis and synthesizing the factors constituting service
quality, service value and student satisfaction to include in the interview. The proposed
scale for qualitative research is synthesized by the author from selected case studies. In
addition, the observed variables included in the scale are also carefully considered by the
author based on comparisons with the actual research context. The process of building the
scale was strictly checked in terms of content, and some corrections and corrections were
made to fit the research context (Craig and Douglas, 2000). Because the observed variables
are mainly referenced from foreign studies, the accuracy in language conversion is focused
on controlling. The scale statements were translated from English to Vietnamese and from
Vietnamese to English by two independent linguists. Next, tests are carried out to ensure
that there are no deviations in the content and meaning of the statements. The observed
variables in the scale are measured using a 7-point Likert scale with the significance of
reflecting values ranging from 1-Strongly disagree to 7-Strongly agree. The proposed set of
scales for qualitative research includes 59 observed variables representing 6 elements
constituting service quality, 7 elements constituting service value and student satisfaction,
detailed information of the proposed set of scales for qualitative research are explained and
described in detail in the Appendix
2.3.3 Methods of building theoretical research models and proposing formal research


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scales
To build a theoretical research model and propose a scale, the author uses the

results of qualitative studies, namely in-depth interviews and focus group interviews. In
order to ensure the reliability of the proposed research model, the elements of the model
will be consulted by two groups of subjects including: (1) A group of expertsrepresentatives of a highly qualified team and managers with practical experience on the
research topic; (2) The student group represents customers who directly experience the
service and is also the main research object of the study. The groups of factors included in
the research model and the observed variables selected for the official scale will be based
on the opinions of experts and the perception of the students.
2.4. Research model and hypotheses development
2.4.1 Research model”

Figure 2.4. Research model of the relationship between service quality, service value, and
students satisfaction
Source: Author
The proposed research model is built through 5 factors constituting the quality of
higher education service values, four components constituting the value of higher
education services and student satisfaction. The structure of the model will focus on
considering the direct impact of the factors constituting the service quality and value and
the impacts of these factors on student satisfaction. The number of relationships to consider
includes: 9 relationships reflecting the impact of 9 components of service quality and value
on student satisfaction. The 20 relationships reflect the effects of the five components
constituting the quality of higher education services on the four components constituting
the service value of higher education services. Details of the research model are depicted in
Figure 2.4.
2.4.2. Research hypotheses
2.4.2.1. The basis for the development of research hypotheses


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In this study, research hypotheses are developed based on the relationship between

service quality, service value and customer satisfaction. Accordingly, there is a relationship
between quality and value and both of these factors can promote customer satisfaction
(Cronin et al. 2000). Although the views on the value-promoting role of quality or value
emerge after the appearance of customer satisfaction, there are disagreements in academia
(Bagozzi, 1992; Rust and Oliver, 1994). However, based on the results of qualitative
research and studies in the same context (Brown and Mazzarol, 2009; Alves and Raposo,
2007; Teeroovengadum et al., 2019), the author chooses methods to approach the emotions
perceived service quality contributes to promoting service values and these factors
influence student satisfaction.
In addition, the study divides service value into separate components that reflect
students' perceived aspects, including functional, emotional, social, and intellectual, to
clarify better the detailed influence of the constitutive elements of quality and value. After
development, the research hypothesis system:
H1: Student satisfaction is influenced by academic factors
H2: Student satisfaction is influenced by non-academic factors
H3: Student satisfaction is influenced by the training program
H4: Student satisfaction is influenced by facilities
H5: Student satisfaction is influenced by industry interaction factors
H6: Student satisfaction is influenced by functional value/desired satisfaction.
H7: Student satisfaction is influenced by emotional value
H8: Student satisfaction is influenced by social values
H9: Student satisfaction is influenced by epistemic value
H10: Functional value is influenced by service quality
H10a: Functional value is influenced by academic factors
H10b: Functional value is influenced by non-academic factors
H10c: Functional value is influenced by training program
H10d: Functional value is influenced by facilities
H10e: Functional value is influenced by industry interaction factors
H11: Emotional value is affected by service quality
H11a: Emotional value is influenced by academic factors

H11b: Emotional value is influenced by non-academic factors
H11c: Emotional value is influenced by training program
H11d: Emotional value is influenced by facilities
H11e: Emotional value is influenced by industry interaction factors
H12: Social value is affected by service quality
H12a: Social values are influenced by academic factors
H12b: Social values are influenced by non-academic factors
H12c: Social values are influenced by training programs
H12d: Social values are influenced by facilities
H12e: Social value is influenced by industry interaction factors


17

H13: Epistemic value is influenced by service quality
H13a: Epistemic value is influenced by academic factors
H13b: Epistemic value is influenced by non-academic factors
H13c: The value of epistemic is influenced by the training program
H13d: Epistemic value is influenced by facilities
H13e: Epistemic value is influenced by industry interaction factors
Thus, from the arguments and analysis, the study has proposed 13 main research
hypotheses and 20 sub research hypotheses to comprehensively evaluate the relationship
between service quality, service value and customer satisfaction. customer
satisfaction.uesand these factors
2.4.3. Measurement scales
After synthesizing the interview results, they combined the author's analysis and
evaluation. The initial research scale set (detailed in the Appendix) includes 14 factors
reduced to 10 factors. The number of observed variables from 66 observed variables is
reduced to 43 observed variables representing five factors service quality, four service
value factors and customer satisfaction. The content of the research scale after adjustment

from qualitative research is described in Table 2.8.
Table 2.8. Synthesis of research scale adjusted after qualitative research
Name
ACA1
ACA2
ACA3
ACA4
ACA5
ACA6
ACA7
NACA2
NACA4
NACA5
NACA6
NACA7
NACA8
PROG1
PROG2
PROG4
PROG5
FACI1
FACI2
FACI3
FACI4
FACI5
FACI6

Items
Academic aspect
Lecturer's working attitude

The attention of the faculty
Instructor's Enthusiasm
Instructor's Teaching Methods
Trainer Expertise
Information technology usability
Lecturers always empathize with students' difficulties
Non-academic aspect
Processing speed of administrative procedures
Administrative office hours
Attitude of administrative staff
The convenience of administrative procedures
Opportunity to participate in sports activities
Opportunity to participate in social activities
Program issues
The Diversity of the Program
Program flexibility
Training according to social needs
Program Update
Facilities
Medical Facilities
Library Quality
Dormitory quality
Classroom Size
Learning Materials System
Recreational Facilities

Sources

Firdaus (2005)

Gamage et al. (2008)

Firdaus (2005)
Jain et al. (2013)

Firdaus (2005)
Gamage et al. (2008)
Firdaus (2005)
Chen et al. (2007)
Firdaus (2005)
Chen et al. (2007)
Firdaus (2005)


18

Name
FACI7
INI1
INI2
INI4
INI6
FUNC1
FUNC2
FUNC3
EMO1
EMO2
EMO3
SOCI1
SOCI2

SOCI3
EPIS1
EPIS2
EPIS3
SAT1
SAT2
SAT3

Items
Convenient computer system for searching documents at the library
Industry interaction
Experts in training
Practical teaching method
Business visit
Open counseling workshop for students
Functional value/want satisfaction
Conformity with business needs
The value of a degree with job opportunities
Degree value to income
Emotional value
Feeling comfortable in the learning process
Good emotional state while studying
Interest in learning subjects
Social value
A Chance to Impress People
Opportunity to receive social recognition
Benefits of studying with friends
Epistemic value
The effectiveness of teaching quality from lecturers
Effect of subject quality

Knowledge usefulness of subjects
Sự hài lòng của sinh viên (Student's satisfaction)
Similar to the ideal university image
The ability to meet expectations
I feel satisfied with the university I attended

Sources
Gamage et al. (2008)

Jain et al. (2013)

LeBlanc & Nguyen (1999)

Sweeney & Soutar (2001)
LeBlanc & Nguyen (1999)
Sweeney & Soutar (2001)
LeBlanc & Nguyen (1999)
LeBlanc & Nguyen (1999)

Helgesen & Nesset (2007)

Source: Author
2.5. Case study on the quality and value of higher education services and student
satisfaction of some universities
The case study was conducted with two universities, including the University of
Commerce and the University of Foreign Trade. Some of the highlights from the case
study include:
First, the consideration of training as a type of service has been widely recognized
at public universities in the economic and business administration sectors in Vietnam.
Under this approach, students are direct customers of services and universities are aware of

the importance of satisfying students' needs for sustainable development.
Second, service quality plays an essential role in student satisfaction and is an issue
that universities focus on improving in the current context. The core factors forming the
quality of higher education services include (1) Quality of training activities; (2) Facilities;
(3) Quality of support.
Third, public universities of economics and business administration in Vietnam are
still implementing many activities to increase value for learners. Nevertheless, unlike the
service quality assessment, the service value assessment is still vague and inconsistent.
Fourth, activities to assess the quality of higher education services are held
annually by the two universities to assess the suitability for learners' needs. The content of


19

the survey is in-depth to the learners' perceptions, promoting the learners' interests.
Fifth, the established quality assessment criteria are not uniform across schools,
although some general issues such as training quality, training programs, facilities have
been mentioned.

CHAPTER III. RESEARCH BACKGROUND AND METHODOLOGY
3.1. Research background
The thesis has reviewed the essential characteristics of Vietnamese higher


20

education from the feudal period to the present time. Information about the university
economics and business administration system is described in detail with data on
enrollment criteria, training disciplines, training scale, and other outstanding features. In
particular, the thesis has also analyzed and clarified the characteristics of students studying

economics and business administration.
3.2. Research Methods
3.2.1. Research design
In addition to theoretical development studies, the research pays special attention to
the positivist approach through investigation and survey of experts in higher education and
students attending public universities economics and business management. The study also
applies modern quantitative research methods widely in research worldwide, such as the
EFA exploratory factor test, Cronbach Alpha reliability coefficient test, and Pearson
correlation test. Common Method Variance test, CFA confirmatory factor test, SEM linear
structural model test, indirect impact analysis by bootstrapping method, Independent
Sample T-test/ One-group multi-group test way Anova.
3.2.2. research process
The primary research process includes the following steps: (1) Building a
theoretical basis; (2) Building theoretical research models and scales; (3) Assess the
reliability of the model and scale with preliminary research, thereby standardizing the
content of the questionnaire (preliminary research sample N=150); (4) Formal study with
sample size N=1368; (5) Check the reliability and validity of the official scale; (6) Testing
the research hypothesis with the SEM linear structure model; (7) Assessment of indirect
impacts; (8) Descriptive statistics and multigroup test.
3.2.3. Sampling method and data collection
3.2.3.1. Quantitative research sample selection method
To determine the minimum sample size, the author applies the recommendations to
determine the sample size in case the overall sample size is large and cannot be determined
according to the studies of Hair et al. (1998), Nguyen Thi Tuyet Mai and Nguyen Vu Hung
(2015) and Nguyen Dinh Tho (2011). Accordingly, the study sample size is determined
based on the formula:

In there:
n: number of samples to be determined (sample size)
Z: Z-distribution table value based on selection reliability. Normally, choose 95%

confidence, Z value = 1.96. Make sure n estimate has the safest magnitude, choose p = 0.5
e: allowable error. Selectable e = ± 0.01 (1%), ± 0.05 (5%), ± 0.1 (10%).
Based on the above formula, with the allowable error value of e = ± 0.05 (5%), the
minimum sample size is 384.
Thus, through the analysis of the research context and the overall sample size,


21

along with the limitations of resources and time to conduct the research, the construction of
the research sample ensures proportional representation of the population. The overall
sample will be relatively complex. However, through the analysis of the method of
choosing the minimum sample size when the overall sample size and primary conditions
for performing the regression analysis method are not known, the author decided to build a
research sample through a survey of 1360 students from 12 public universities in
economics and business management in Vietnam.

Bảng 3.7. Mô tả mẫu nghiên cứu
Characteristic
University
Thuongmai University
National Economic Univetsity
Foreign Trade University
Academy of Finance
Banking Academy
University of Economics and Business - Vietnam National University
The University Of Danang - University Of Economics
University of Economics Ho Chi Minh City
University of Economic, Hue University
Thai Nguyen University of Economics and Business Administration

University of Finance - Marketing
University of Labour and Social Affairs
Gender
Male
Female
Academic Year
2nd Year
3rd Year
4th Year
Degree of interest in the subject
Not favorite
Normal
Favorite
Type of University
autonomous university
non autonomous university
Tuition perception level
Expensive
Reasonable
Cheap

N

%

256
81
70
132
94

85
73
65
108
93
55
114

20.88%
6.61%
5.71%
10.77%
7.67%
6.93%
5.95%
5.30%
8.81%
7.59%
4.49%
9.30%

589
637

48.04%
51.96%

416
408
402

33.93%
33.28%
32.79%

397
512
317

32.38%
41.76%
25.86%

600
626

48.94%
51.06%

305
524
397

24.88%
42.74%
32.38%

3.2.4. Data analysis methodology
The primary data analysis in the thesis was performed using SPSS 20 and AMOS
23 software. In which, descriptive statistical analysis, T-test, One-way Anova, exploratory

factor analysis EFA, Cronbach Alpha reliability coefficient is taken care of by SPSS 20
software. Meanwhile, AMOS 23 software supports CFA confirmatory factor analysis, SEM
linear structural model analysis and indirect impact analysis.


22

CHAPTER IV: RESEARCH RESULTS ON STUDENTS SATISFACTION WITH
VALUE AND SERVICE QUALITY OF PUBLIC UNIVERSITIES OF ECONOMY
AND BUSINESS MANAGEMENT IN VIETNAM
4.1. The results of testing the reliability of the measurement scale
The results of the EFA factor analysis have eliminated two observed variables,
namely ACA7: Lecturers always empathize with students' difficulties; FACI7: The library
is equipped with a convenient computer system to search for documents due to the
resource factor less than 0.3. The analysis results with the groups of factors all give the
KMO coefficient values in the range of 0.5-1; Total variance extracted is more than 50%;
Eigenvalues reach more significant than 1; The factor loading coefficients of the observed
variables are all greater than 0.5; The Sig value of the Bartlett test is 0.000 (less than 0.05).
The Cronbach Alpha coefficient test results for ten groups of factors after removing
the observed variables that do not meet the load coefficient requirements in the EFA
exploratory factor analysis show that all groups of factors are valid. Cronbach Alpha is
greater than 0.7 (ranging from 0.765 to 0.889), in which there are six groups of factors with
Cronbach Alpha values greater than 0.8. Therefore, according to Hair et al. (2010);
Churchill (1979), the above analysis indicators represent the scale to ensure reliability.
Thus, after testing the reliability of the scale with exploratory factor analysis EFA and
Cronbach Alpha coefficient, the original scale was shortened to 41 observed variables
representing ten factors.
4.2. The results of confirmatory factor analysis CFA

Hình 4.1. The results of confirmatory factor analysis CFA

Source: Data analysis result


23

The analysis results show that the model includes 734 degrees of freedom, with
Chi-square value = 1649,456, Chi-square/df value = 2,247 (less than 3); p-value = 0.000
(less than 0.05). Indicators AGFI = 0.930; GFI = 0.940; TLI = 0.952; CFI = 0.957 (both
greater than 0.9) and RMSEA = 0.032 (less than 0.08); SMRM = 0.0388 (less than 0.05).
In addition, all factor loading coefficients are greater than 0.6 (ranging from 0.63 to 0.85).
So according to Hair et al. (2010), the model fits the collected data. All loading coefficients
reached statistically significant values less than 0.001, so no observed variables were
excluded.
The convergence value test is evaluated through 3 criteria, including average
variance extracted (AVE - Average variance extracted); Factor loading (FLs-Factor
loading), Composite reliability (CR). The results show that all the load coefficients of the
observed variables are greater than 0.5 (ranging from 0.632 to 0.853); The average
variance extracted AVE of all groups of factors is greater than 0.5 (ranging from 0.502 to
0.667); The combined reliability values CR are all greater than 0.7 (ranging from 0.7510.889).
The results show that the average variance extracted from AVE is larger than the
most considerable individual variance value (MSV-Maximum Shared Variance); The
square root AVE (SQRAVE) is greater than the correlation index. Therefore, according to
Hair et al. (2010), the discriminant validity of the model is guaranteed. The Pearson's
correlation analysis results showed that the correlation values between the factors reached
the level of statistical significance p < 0.001 and did not exceed 0.7, so according to
Grewal et al. (2004), the phenomenon of polymorphism Collinearity does not appear to
occur in this study.
4.3. Common Bias Method
The CMV test results show that the single factor explains 23.841% of the observed
variable variance (much lower than the 50% standard). Meanwhile, the latent common

method variance factor has a value of 17.64 % of the total variance (less than 25%).
Therefore, according to the research results of Malhotra et al. (2006), it can be concluded
that CMV problems do not occur in this study.
4.4. Descriptive statistics and multigroup analysis
Some important conclusions about the results of descriptive statistics and
multigroup test.
Firstly, the overview descriptive statistics show that the average values are
commonly rated above 4 (on the Likert scale 7). Some groups of factors with outstanding
high value include epistemic value (4,7315), satisfaction (4,7137), social value (4,5919),
facilities (4,5375) and epistemic value (4,5160). Meanwhile, emotional value (3.9859),
industry interaction factor (4.1674) and training program (4.1756) have the lowest average
values.
Second, the analysis results show no difference in students' perceptions of service
quality, service value, and satisfaction when disaggregated by gender.


24

Third, when analyzing the difference by learning time (school year), there exists a
clear difference in the element of facilities when perceived facilities tend to decrease with
the time of the study. In contrast, functional value tends to be perceived more positively
over learning time. Similarly, two of the three observed satisfaction variables also reached
the highest level for final-year students.
Fourth, there exists a difference in the perception of most of the observed variables
when dividing the sample according to the degree of interest in the subject. The level of
interest in the subject is directly proportional to the students' perception of the observed
variables of service quality, service value, and satisfaction factors. Only the industry
interaction factor, the perception of administrative staff's attitude, and medical facilities are
contrary to this rule.
Fifth, the results of multi-group analysis when dividing by type of university

students are attending and perceived tuition fees - quality has many similarities. The group
of students studying at public universities who were autonomous and perceived high
tuition rates rated most of the observed variables higher than the rest of the groups. In
particular, there is no difference in three out of four observed variables in the group of
industry interaction factors.
4.5. Hypotheses testing and paths analysis

Figure 4.3. SEM Analysis
Source: Data analysis result
The results show that the model includes 740 degrees of freedom, p-value = 0.000
(less than 0.05); Chi-square value = 1819,490; Chi-square/df value = 2,459 (less than 3).
Indicators AGFI = 0.924; GFI = 0.935; TLI = 0.944; CFI = 0.950 (both greater than 0.9);
SMRM value = 0.0412 (less than 0.05); RMSEA value = 0.035 (less than 0.08). According
to Hair et al. (2010), the model is completely consistent with the data of the study. The R 2
index of the student satisfaction factor is 0.65, that is, the quality and service value factors


25

explain 65% of the variation in student satisfaction, the other 35% is due to the influence
of other factors and errors. Similarly, through the R2 index, service quality factors explain
19% of the variation of emotional value, 22% of the variation of social value, 14% of
functional/satisfaction value. desire and 29% of the epistemic value.
The results of hypothesis testing show that, out of the nine main hypotheses that
evaluate the impact of the constitutive factors of service quality and value on student
satisfaction, hypothesis H5 reflects the impact on student satisfaction of the industry
interaction factor to student satisfaction was rejected because the p-value was more
significant than 0.05. Meanwhile, because the p-value is higher than 0.05, hypothesis H11c
about the relationship between the training program and emotional value is the only sub
hypothesis rejected among the 20 counter-hypotheses that detail the impact of service

quality on service values.
Based on the analysis results, among the nine factors of service value and quality
considered to impact student satisfaction, only the impact of the industry interaction factor
is not satisfactory statistical meaning. For the factors in the service quality group, in the
remaining four factors, the impact of academic factors and facilities on student satisfaction
is rated at the highest level in the group with the service quality system the normalized β is
0.287 and 0.172, respectively. Next, the impact level of non-academic factors and training
programs is relatively large compared to academic factors and facilities with standardized
β coefficients of 0.094 and 0.068, respectively. For the service value factors, all four
hypotheses about the impact of these factors on student satisfaction are accepted. Except
for emotional value, which has a much lower impact with a standardized β coefficient of
0.113, the remaining factors are functional value/desired satisfaction, social value, and high
level of epistemic value relatively high impact with standardized β coefficient 0.178,
respectively; 0.176 and 0.151.
The results of the SEM structural model analysis show that the impacts of service
quality factors on service value factors are as follows:

Table 4.16. Paths Analysis and Hypotheses testing
Hypotheses
H1
H2
H3
H4
H5
H6
H7
H8

β

S.E.

C.R.

Academic



Student satisfaction

0.287**
*

0.028

7.038

Non - academic



Student satisfaction

0.094**

0.025

2.591

Program issues



Student satisfaction

0.068*

0.016

2.461

Facilities



Student satisfaction

0.028

4.702

Indusrty interaction



Student satisfaction

0.022

0.282

Functional value



Student satisfaction

0.032

5.643

Emotional value



Student satisfaction

0.023

3.618

Social value



Student satisfaction

0.030

5.276

0.172**
*
0.008NS
0.178**
*
0.113**
*
0.176**

Finding
s
Accepte
d
Accepte
d
Accepte
d
Accepte
d
Rejected
Accepte
d
Accepte
d
Accepte