Research On The Impact Of Consumer Finance Platform Service Recovery On Customer Value Co-creation

In November 2020,the listing of ant financial services was suspended,and the consumer finance industry entered an era of strict supervision.At the same time,the main suppliers of consumer finance are increasing,and the market scale continues to expand.Facing the increasingly strict stock regulation and regulation of the country,the consumer finance industry has increased its attention to the rights and interests of financial consumers and is developing in the direction of licensing,online,quality and efficiency improvement.However,in the early rapid development of consumer finance industry,problems such as "irrational lending,high interest rate,violent collection,false promotion" have not been paid enough attention.Consumer financial platforms have not fully recognized the importance of service recovery and the positive role that service recovery can play due to insufficient investment in service recovery.The development of social economy also makes consumers pay more and more attention to the consumption experience and the exertion of their own value.If the consumer finance platform can guide consumers to participate in value production through service recovery,it can jointly promote the optimization and upgrading of consumer finance platform services and promote the exertion of consumers’ personal value,so as to establish a higher level of two-way win-win service model.Therefore,the relationship between service recovery and value creation in the field of consumer finance is worth exploring.On the other hand,the existing research on the intermediary variables of service recovery mainly focuses on customer satisfaction,perceived fairness,consumer forgiveness,consumer emotion and so on.With perceived control as the intermediary variable,there is less research on service recovery.Through literature research,it is found that there is an important relationship between service recovery,perceived control and customer value co-creation in the context of consumer finance platform.Therefore,this paper takes the consumer finance platform as the research object,combined with SOR theory,planned behavior theory and self-determination theory,systematically analyzes the relationship between service recovery,perceived control and customer value co-creation of consumer finance platform,puts forward research hypotheses,and establishes the theoretical model of "service recovery--perceived control--customer value co-creation" of consumer finance platform.Among them,service recovery includes substantial compensation,response speed and interactive communication,customer value co-creation includes recommendation,feedback,tolerance and helpfulness,and perceived control as a whole variable.Firstly,through interview research,this paper explores the factors affecting customer perceived control and customer value co-creation of consumer finance platform.Secondly,according to the maturity scale and combined with the actual situation of the consumer finance platform,a questionnaire was designed,a preliminary survey was conducted,and a formal questionnaire was formed.338 valid questionnaires were collected.Finally,SPSS20.0 and AMOS24.0 software were used for reliability and validity analysis,hypothesis testing and mediation analysis.The results show that:(1)service recovery positively affects the recommendation,feedback and tolerance dimensions of customer value co-creation,but has no significant effect on the helpfulness dimension;(2)Service recovery positively affects perceived control;(3)Perceived control has a positive impact on the recommendation,feedback and tolerance dimensions of customer value co-creation,but has no significant impact on the helpfulness dimension;(4)Perceived control plays a mediating role in the relationship between service recovery and customer value co-creation of recommendation,feedback and tolerance,but does not play a significant mediating role in the relationship between service recovery and helping.Based on the research conclusions,suggestions are provided for consumer financial platforms to improve the establishment of service recovery system and guide customers to participate in value co-creation.