The impact mechanism of service quality on customer loyalty of individual investors in securities brokerage business — An empirical study based on SCSB model

The paper analyzes the influencing mechanism of individual investor´s loyalty on China´s securities industry by SEM. The result shows that customer satisfaction and service quality are the most important factor which affects customer loyalty. Customer satisfaction does not only affect customer loyalty directly, but also affects customer loyalty through complaint indirectly. The effect of customer expectations on customer loyalty is not obvious.