The moderating effect of locus of control on job stress-job satisfaction relationship: evidence from the banking industry in Vietnam Abstract This research aims to investigate the impa
Introduction
Employees are a bank's most valuable asset, yet the banking market's rapid growth has heightened job stress among staff Job stress refers to any aspect of the working environment that threatens an individual's well-being, as defined by Caplan, Cobb, and French (1975) Malik (2011) explains that globalization and fierce competition have driven rapid, significant changes in the global banking sector, and these dynamics create a stressful workplace for bank employees.
Besides, a wide range of prior studies show that bank employees have experienced a high level of stress and low job satisfaction (Devi & Sharma, 2013; Bajpai &
Research shows a negative relationship between job stress and job satisfaction in the banking sector, with Srivastava (2004) and Karatepe & Aga (2013) highlighting this link Malik and Waheed (2010) also report a negative association between job stress and job satisfaction in the banking industry Additional studies indicate that bank employees contend with low wages, high turnover, and job insecurity, factors that can contribute to lower job satisfaction (Springer, 2011; Belias, Koustelios, Sdrolias & Aspridis).
Similar findings illustrate a relationship between job stress and job satisfaction across diverse industries, as shown by Behrman (1984), Grefson & Wendell (1994), Chiu, Chien, Lin & Hsiao (2005), and Khattak, Ul-Ain & Iqbal (2013) For instance, Chen and Silverthorne (2008) examine job stress in accounting firms, and Siegal (2000) investigates three dimensions of job stress in software companies.
Olowodunoye (2012) demonstrates that job satisfaction significantly influences turnover intention among bank employees, highlighting the critical link between how satisfied workers are and their intent to leave The interaction between job stress and job satisfaction emerges as a key factor in human resources management within the banking sector, suggesting that strategies to mitigate stress while boosting satisfaction can help reduce turnover and improve retention.
Recently, the Vietnamese banking industry has grown markedly According to the National Financial Supervisory Commission (Ninh, 2016), the Vietnamese banking system now comprises 35 local commercial banks and 55 foreign bank branches, up from just four commercial banks in 1986 Since Vietnam joined the World Trade Organization in 2007, the banking market has become increasingly competitive, prompting banks to set high targets, deliver excellent customer service, and complete tasks within tight timeframes Ngoc (2016) notes that bank employees have faced intense targets, job mobility, changing work conditions, heavier workloads, and wage cuts, all of which contribute to turnover intentions This is further supported by the 2012 Prime Ministerial approval of Project 254, “Restructuring the Credit Institutions System 2011–2015,” aimed at reducing weak banks and strengthening systemic soundness, which brought policy shifts and changes in working conditions associated with higher voluntary turnover Lan (2015) reports an average turnover rate in the Vietnamese banking sector of about 15%, the highest among several industries Taken together, these dynamics suggest that bank employees have experienced high pressure, elevated stress, and low job satisfaction in recent years, motivating research into how role ambiguity, role conflict, and work overload—three dimensions of job stress—relate to job satisfaction in Vietnam.
A number of researchers have proposed that the job stress–job satisfaction relationship may depend on individual personality characteristics, notably locus of control (Chen & Silverthorne, 2008; Martin, Thomas, Charles, Epitropaki & McNamara, 2005) Locus of control is defined as beliefs about what determines rewards in life, with Rotter (1966) distinguishing external and internal orientations Although still a relatively new concept in Vietnam, locus of control has been studied worldwide (Rahim, 1996; Judge, Erez, Bono & Thoresen, 2003; Chiu, Chien, Lin & Hsiao, 2005; Lee, 2013) Perrewe (1986) found that employees with an external locus of control experience higher job stress and lower job satisfaction Collectively, these studies suggest that locus of control can act as a moderator of the job stress–job satisfaction relationship Recently, several banks in Vietnam have begun examining this moderating effect to improve human resource management.
Vietnam's banking sector has shown notable development and undergone numerous changes in recent years, which have coincided with rising job stress and lower job satisfaction among bank employees Given this context, locus of control may influence the relationship between job stress and job satisfaction, a link that has attracted attention from researchers The current study investigates locus of control as a moderator of the job stress–job satisfaction relationship within Vietnam's banking industry Specifically, it examines how role ambiguity, role conflict, and workload, along with locus of control, affect job satisfaction, and it compares the locus of control effects between private and state-owned banks.
Literature review and hypothesis development
Foundational theory
Person–environment fit and person-organization fit theory
Applying person-environment (P-E) fit and person-organization (P-O) fit theory, this study analyzes the relationship between job stress and job satisfaction (Yang, Levine, Smith, Ispas & Rossi, 2008) P-O fit concerns the antecedents and consequences of the fit between people and the organizations where they work (Kristof, 1996) Person–job fit represents another facet of P-E fit in work contexts and contributes positively to variance in job attitudes When an individual's personality aligns with environmental features, they tend to be happier and more successful in their work Conversely, low P-O fit can lead to job dissatisfaction, turnover intentions, and higher stress levels Therefore, improving fit between the person and the organization as well as between the person and the job can enhance job satisfaction and reduce job stress.
Rotter's social learning theory conceives personality as the ongoing interaction between the individual and their environment, with locus of control serving as a key cross-situational belief about reinforcement Locus of control, as Rotter (1966) defined, refers to people's beliefs about what determines whether they will be reinforced across different situations Based on daily behavior and beliefs, individuals can be classified as internal or external in their locus of control People with an internal locus believe they can influence outcomes through their own actions and self-discipline, while those with a high external locus attribute outcomes primarily to external factors and environmental conditions These differing beliefs shape how individuals respond to environmental cues and reinforcement, and the following sections will further explore the implications of internal versus external locus of control in various contexts, including the workplace.
Related review and hypothesis
Job stress and job satisfaction
Occupational stress, or job stress, arises when job demands exceed an individual's abilities, producing strain and potential impact on performance It is a dynamic condition in which a person faces opportunities, constraints, or demands connected to their goals, with outcomes seen as uncertain and important (Robbins, as cited by George & K.A., 2015) It can also reflect work-environment characteristics that threaten the individual, as described by Caplan, Cobb, and French (1975) Unlike general life stress, job stress is tied to the organizational context (Montgomery, Blodgett, & Barnes, 1996) The drivers of this stress are called stressors—specific factors within the job that provoke work-related stress.
Many studies have focused on two key role stressors: role conflict and role ambiguity (Coverman, 1989; O’Driscoll & Beehr, 2000; Siegall, 2000; Behrman,
Research on the organizational antecedents of job satisfaction consistently highlights role ambiguity and role conflict as central factors (Van Sell, Brief & Schuler, 1981; Fisher & Gitelson, 1983; Siegall, 2000) Rahim (1996) expands this view by defining job stress as comprising four dimensions: role conflict, role ambiguity, role overload, and role insufficiency Across many studies, role overload is typically included alongside role conflict and role ambiguity when examining job stress (Abraham, 1997; Hang-Yue, Foley & Loi, 2005; Chiu, ).
Based on existing studies, the current study focuses on three job stressors: role conflict, role ambiguity, and role overload The concepts of role conflict and role ambiguity, examined by Rizzo, House, and Lirtzman (1970), are the most commonly used: role conflict is defined as discrepant or incompatible role requirements for employees, while role ambiguity refers to employees’ uncertainties about which actions are required to fulfill their expected role Cooper and Marshall (1976) also define role conflict as the existence of conflicting demands within a single role or between multiple roles, and role ambiguity as a lack of information about a particular role, hence uncertainty regarding the expectations associated with the role Elloy and Smith (2003) show that role overload results from not having enough time to complete the assigned tasks, and that overload occurs where multiple demands exceed resources, potentially being qualitative (too difficult to complete) or quantitative (too many tasks to be done).
Job satisfaction is most often defined as the extent to which individuals feel positive about their jobs and the various aspects of their work, a definition frequently cited in Spector (1997) It refers to pleasurable attitudes that result from the appraisal of one’s job and job experiences, a formulation noted by Levy (as cited in Morrison, 2008).
Research shows a positive link between happiness at work and job satisfaction (Gustainiene & Aukse, 2009) When employees feel more content in their roles, their overall job satisfaction increases Shaikh, Bhutto, and Maitlo (2012) argue that job satisfaction arises when workers enjoy their tasks or experience positive emotions after assessing their job performance Conversely, low job satisfaction has been associated with negative behaviors, including perceptions of unjust treatment (Donovan, Drasgow & Munson, 1998).
According to person–environment (P–E) fit and person–organization (P–O) fit theory, when employees’ abilities do not match job demands, they experience stress, which in turn lowers job satisfaction A substantial body of research confirms this negative relationship between job stress and job satisfaction, with role ambiguity, role conflict, and role overload identified as key stressors that reduce satisfaction and, in some cases, dampen performance Specifically, role overload has been shown to reduce both job satisfaction and performance, while higher role ambiguity and role conflict correlate with lower satisfaction In the Vietnam context, Lan (2015) reports bank employees suffering from sales pressure and work overload, leading to late returns home and exhaustion, and Nam (2008) notes that job stress is associated with exhaustion, low motivation, poor performance, and reduced job satisfaction Consistent with prior work, the current study assumes that the three dimensions of job stress—role conflict, role ambiguity, and work overload—negatively affect job satisfaction, and formulates corresponding hypotheses.
H1a: There is a negative relationship between role ambiguity and job satisfaction of bank employees in Ho Chi Minh city, Vietnam
H1b: There is a negative relationship between role conflict and job satisfaction of bank employees in Ho Chi Minh city, Vietnam
H1c: There is a negative relationship between work overload and job satisfaction of bank employees in Ho Chi Minh city, Vietnam
Locus of control (LOC), job stress and job satisfaction
The relationship between job stress and job satisfaction can be moderated by individual characteristics such as locus of control According to Rotter’s social learning theory (1954), locus of control consists of internal and external orientations Individuals with an internal locus of control believe that life events are under their own control, which helps them regulate emotions and apply personal effort to achieve success Conversely, those with an external locus of control attribute outcomes to outside forces, potentially reducing perceived control at work and shaping how stress influences job satisfaction.
External locus of control describes the belief that events are driven by luck, chance, or the influence of powerful others rather than by one’s own actions Consequently, individuals with this orientation tend to blame external factors—the environment or luck—for outcomes, attributing successes and failures to forces beyond their control, a central idea in Rotter’s 1966 theory of locus of control.
People with an external locus of control typically experience higher stress levels and lower satisfaction than those with an internal locus of control Srivastava and Sager (1999) argue that locus of control shapes the coping strategies individuals use to manage everyday problems and stress A substantial body of research has identified the link between locus of control and job stress (Rahim, 1996; Kalbers & Fogarty).
2005), job satisfaction (Patten, 2005), and job performance separately (Judge et al.,
2003) Some studies discover the impact of locus of control on the relationship between job stress and job satisfaction (Fairbrother & Warn, 2003; Chen &
Silverthorne, 2008) Chiu, Chien, Lin, and Hsiao (2005) indicate that influences of perceived job stress on organizational commitment and job satisfaction are stronger for external locus of control than internals
Most research has examined locus of control with job stress or with job satisfaction in isolation Reilly, Dhingra, and Boduszek (2014) contend that job satisfaction is shaped not only by self-efficacy, self-esteem, and job stress, but should also be considered in relation to locus of control In the banking sector, George and K.A (2015) compared job stress and job satisfaction across different bank segments, yet did not test the direct link between job stress and job satisfaction Moreover, the literature on locus of control, job stress, and job satisfaction largely concentrates on developed countries such as the United States, Taiwan, and Greece, or on industries like accounting, auditing, education, and healthcare, with limited attention to banking and to Vietnam, a developing country To address these gaps, this study aims to explore how locus of control shapes the relationship between job stress and job satisfaction.
Research worldwide has explored locus of control (Reed, Kratchman, & Strawser, 1994; Patten, 2005; Lee, 2013) In Vietnam, however, locus of control remains a relatively new concept, with recent studies by Vietnamese organizations aiming to apply its insights to staff stress management and to enhance job satisfaction (Le, 2008) From the literature, it appears that employees with an external locus of control experience lower levels of job satisfaction, hence the following hypothesis is proposed:
H2: There is a negative relationship between locus of control and job satisfaction of bank employees in Ho Chi Minh city, Vietnam
Drawing on Rotter's social learning theory (1954), locus of control influences job satisfaction and also moderates the relationship between job stress and job satisfaction Specifically, the negative link between job stress and job satisfaction is stronger for employees with an external locus of control than for those with an internal locus of control (Perrewe, 1986; Chiu, Chien, Lin, & Hsiao).
2005) Chen and Silverthorne (2008) also indicate that locus of control strengthens the job stress - job satisfaction relationship Based on above review of literature, the following hypotheses are formulated:
H3a: The negative relationship between role ambiguity and job satisfaction is stronger for employees with external locus of control than internals
H3b: The negative relationship between role conflict and job satisfaction is stronger for employees with external locus of control than internals
H3c: The negative relationship between work overload and job satisfaction is stronger for employees with external locus of control than internals
Impact of locus of control between private and state-owned banks
In Vietnam, banking sector has also been growing significantly during the past few years There are two main sectors of commercial bank in Vietnam: state-owned bank and private banks State-owned banks are commercial banks whose upward of 50% charter capital are held by the State bank of Vietnam Up to now, state-owned banks consist of six banks such as Agribank, Vietinbank, Vietcombank, BIDV, Ocean bank and Construction bank Other commercial banks are private banks Private banks include those commercial banks whose less than 50% shares are held by the State bank of Vietnam Duc (2016) discovers that most of private banks cannot approach inexpensive and large scale capital from state-owned organizations Therefore, they find it difficult to lend to large firms and have moved their segment to small and medium enterprises Subsequently, state-owned banks easily approach large scale capital and attract large firms, while private banks have to put much higher target, more workload, etc to improve their performance in current competitive market Previous studies also indicate that employees in private banks are suffering from higher level of job stress than those in public banks (Malik, 2011; George & K.A.,
To find out whether two banking sectors have different impact of locus of control on the job stress - job satisfaction relationship, another hypotheses is formulated:
H4a: There is higher moderating effect of locus of control on the role ambiguity
- job satisfaction relationship in private bank than in state-owned bank
H4b: There is higher moderating effect of locus of control on the role conflict - job satisfaction relationship in private bank than in state-owned bank
H4c: There is higher moderating effect of locus of control on the work overload
- job satisfaction relationship in private bank than in state-owned bank
Details of some previous researches reviewed could be seen in the table 1 Figure 1 represents these relationships and hypotheses
Workplace environment, supervision, cooperation from peers, work discrimination, employee acceptance, work allocation, job security, remuneration
380 bank employees Indian -universal banks
The most important factor effecting employee satisfaction with their job is their immediate supervisor
Job satisfaction, Job- related tension, job- related stress
337 employees from various banks belonging to private sector, public sector and new generation banks in Kerala, India public sector banks have significant difference with private sector banks and new generation banks with regard to job-related stress and there is no such difference between private banks and new generation banks
In a 2013 study by Tlaiss focusing on women managers in Lebanon and the Arab Middle East, the analysis considered variables such as job satisfaction, age, education, marital status, position in management, years of experience, bank size, and monthly salary The findings showed that among these factors, age was the only variable with a statistically significant association with both job satisfaction and promotion.
Job Motivation, Satisfaction, and Performance
Bank Employees in US; Compare private and public banks negative relationship between stress and job performance (not significant)
(2008) locus of control; job stress’ dimensions: ambiguity, conflict, workload, inadequate resources; job performance and job satisfaction
Certificated Public Accountant firms (CPA) in
Taiwan who had an internal LOC perceived lower levels of job stress, reported higher levels of job satisfaction and job performance
Siegall (2000) Role stressors: role conflict, role ambiguity, work related outcomes
105 employees of an electronics/software firm role conflict (both measures) is not associated with intent to leave, but role ambiguity (both measures) is
Yousef (2002) Job satisfaction, role stressors and organizational commitment
361 employees in a number of organizations in the United Arab Emirates
Role conflict and role ambiguity directly and negatively influence job satisfaction
Malik (2011) occupational stress private and public banks employees in Quetta City
Occupational stress is found higher among private bank employees compared to public bank employees
Research method
Procedure and sample
The study was conducted in Ho Chi Minh City, the economic, cultural, tourist, scientific, and educational hub of Vietnam It followed a two-stage design comprising qualitative and quantitative phases In the qualitative stage, six employees were interviewed in depth to refine the questionnaires; their insights and recommendations guided revisions to the wording, and this input was incorporated into the final survey.
During September–October 2016, the quantitative stage of the study conducted the main survey using a questionnaire that comprised two parts: a main section with items measuring the research variables and a demographic section collecting gender, age, education level, and type of organization (state-owned or private banks) The survey was distributed via social media, Google Docs, and e-mail, or by delivering a hard copy directly to bank employees The questionnaire originated in English and was translated into Vietnamese because English is not well understood by all employees in Vietnamese banks; the Vietnamese version is provided in Appendix 3.
Moderated hierarchical regression was employed to analyze the data Based on the Tabachnick and Fidell rule of thumb for multiple regression (n > 50 + 8m, where m is the number of free parameters), the minimum sample size needed to test the overall model is 82 Accordingly, a convenience sample of about 400 bank employees was surveyed, with 200 instruments distributed to employees in the state-owned bank group and 200 to the private bank group Of the 400 questionnaires distributed, 155 were unusable due to missing values, leaving a final sample size of 245, comprising respondents from both bank groups.
107 state-owned bank and 138 private bank employees Table 2 provides descriptive statistics on the characteristics of samples
1 In Vietnam, State-owned banks comprise of Agribank, Vietinbank, Vietcombank, BIDV, Ocean bank, and Construction bank Other banks are private banks, whose less than 50% charter capital held by the State bank of Vietnam
Measurements
The current study examined five constructs—role conflict (RC), role ambiguity (RA), work overload (WO), job satisfaction (JS), and locus of control (LOC) Locus of control was measured by a 10-item scale used in the study by McCormick and Barnett.
This 2008 scale, though shorter than Rotter's 1966 original, aligns with its three dimensions: internal LOC (three items), external chance (four items), and external powerful others (three items); higher scores on the internal LOC subscale indicate a more internal locus of control, while higher scores on the external chance and external powerful others subscales indicate a more external locus of control Respondents answered on a six-point Likert-type scale from 1 (strongly disagree) to 6 (strongly agree) Role conflict (RC) and role ambiguity (RA), based on Siegall (2000), were assessed with eight-item and six-item scales, respectively, using a seven-point Likert-type scale from 1 (never) to 7 (always), with higher scores reflecting greater ambiguity and conflict Work overload (WO) was measured with four items (Kim, Price, Mueller, and Watson, 1996) and job satisfaction (JS) with six items (Price, 2001); both WO and JS used a five-point Likert-type scale from 1 (strongly disagree) to 5 (strongly agree), with higher scores indicating greater work overload and greater job satisfaction Items marked with 'R' were reverse scored Details of the questionnaire are in Appendix 1.
Data analysis and results
Measurement validation
This study evaluated the reliability and convergent validity of the scale by applying Cronbach’s alpha to assess internal consistency and exploratory factor analysis (EFA) to examine the underlying factor structure Demographic variables—gender, age, education level, and years of experience—were included as control variables to account for potential confounding effects in the results.
Based on reliability testing, one item of RA (role ambiguity 5), one item of RC (role conflict 6), one item of WO (work overload 2), one item of JS (job satisfaction 2), and three LOC items (LOC_1, LOC_2, LOC_3) were deleted due to low item-total correlations; after removal, the remaining scale items showed item-total correlations of at least 0.30 and Cronbach's alpha above 0.60 (Nunnally & Bernstein, 1994) Cronbach's alphas were RC 0.831, RA 0.744, WO 0.750, JS 0.856, and LOC 0.858 Reliability and construct validity were tested using exploratory factor analysis (EFA); only JS was extracted by principal components analysis with Varimax rotation, while the other factors were extracted by principal axis factoring with Promax rotation Some items were deleted due to factor loadings below 0.5 (presented in Table 3) For the independent variables, the Kaiser-Meyer-Olkin (KMO) measure was 0.813 with 56.0% total variance explained; for the dependent variable (JS), KMO was 0.758 with 65.6% total variance explained.
Table 3 : Means, Cronbach alpha, and EFA loadings of items after deleting items
Constructs Mean Cronbach alpha Factor loading
1 I have to do things that should be done 4.18 0.518 differently
2 I receive an assignment without the manpower delete delete to complete it
3 I have to buck a rule or policy in order to carry 3.11 0.674 out an assignment
4 I work with two or more groups who operate 3.65 0.723 quite differently
5 I receive incompatible requests from two or 3.95 0.810 more people
6 I do things that are apt to be accepted by one delete delete person and not accepted by others
7 I receive an assignment without adequate 3.87 0.504 resources and materials to execute it
9 I feel certain about how much authority I have 3.39 0.586
10 Clear, planned goals and objectives exist for 3.28 0.686 my job (R)
11 I know that I have divided my time properly 3.58 0.570
12 I know what my responsibilities are (R) 2.60 0.678
13 I know exactly what is expected of me delete delete
14 Explanation is clear of what is to be done (R) 3.50 0.609
15 I have enough time to get everything done in 3.98 0.597 my job (R)
16 My workload is not heavy on my job (R) delete delete
17 I have to work very hard in my job 3.99 0.738
18 I have to work very fast in my job 4.06 0.951
19 I can pretty much determine what will happen in my life delete delete delete delete
20 When I get what I want, it is usually because I delete delete worked hard for it
21 My life is determined by my own actions
22 To a great extent my life is controlled by accidental happenings 3.98 0.701
23 Often there is no chance of protecting my personal interest from bad luck happenings 3.49 0.746
24 When I get what I want, it is usually because
25 It is not always wise for me to plan too far ahead because many things turn out to be a matter of good or bad fortune
26 I feel like what happens in my life is mostly determined by powerful people 4.33 0.869
27 Although I might have good ability, I will not be give leadership responsibility without appealing to those in positions of power 4.26 0.795
28 People like myself have very little chance of protecting our personal interests when they conflict with those of strong pressure groups
29 I am fairly well satisfied with my job 3.37 0.809
30 most days, I am enthusiastic about my job delete delete
31 I like working here better than most other 3.02 0.540 people I know who work for this employer
32 I do not find enjoyment in my job (R) 3.24 0.871
33 I am often bored with my job (R) 3.53 0.900
34 I would consider taking another kind of job (R) 3.19 0.876
LOC as moderator of job stress - job satisfaction relationship
To investigate how locus of control (LOC) moderates the relationships between role conflict, role ambiguity, and work overload with job satisfaction, we conducted a moderated hierarchical regression in line with Kirmeyer & Dougherty (1988) and Hsu (2011) In Step 1, we entered the control variables—gender, age, education, years of experience, and type In Step 2, the main independent variables (role ambiguity, role conflict, and work overload) were added In Step 3, the moderator LOC was entered In the final step, we included the interaction terms formed by multiplying LOC with each independent variable The significance of each step was evaluated by examining the incremental changes in F and R², and the p-values of the regression coefficients (βs) were used to assess the significance of the main effects and interactions.
To investigate the moderating effect of locus of control (LOC) on the relationship between job stress and job satisfaction, this study conducts moderated hierarchical regression analyses separately for two groups: state-owned banks (coded 1) and private banks (coded 2) Organization type is thus encoded as 1 for state-owned banks and 2 for private banks The findings indicate differential LOC moderating effects across these banking sectors, suggesting that the impact of job stress on job satisfaction is influenced by LOC differently in state-owned versus private banks.
Common method variance
Common method variance (CMV) is the systematic error variance shared among variables measured with and introduced by the same method or source (Richardson et al., as cited by Tho, 2013) CMV can bias conclusions about the model, so this study adopts Tho’s (2013) remedies, including reverse-scored items and using different scales for distinct constructs For example, locus of control (LOC) was measured with a six-point Likert-type scale, while role conflict and role ambiguity were assessed on seven-point Likert-type scales The study also measures work overload with a scale designed to capture respondents’ feelings about their workload.
“I have enough time to get everything done in my job”; or about role ambiguity:
Clear guidance on what needed to be done was provided to respondents, and questionnaire items were randomly shuffled to minimize agreement tendency bias The study also communicated to participants that there was no 'right' or 'wrong' answer, reducing apprehension about responses As a result, common method variance was not a significant issue in this study.
Hypothesis testing
Table 4 reports the means, standard deviations, correlations, and internal-consistency reliabilities for the measures used in this study—role conflict, role ambiguity, work overload, locus of control, and job satisfaction In terms of personal characteristics, gender was significantly and negatively correlated with job satisfaction (r = -0.21, p < 0.01), while age, education, experience, and type showed no significant correlations with job satisfaction Role conflict (r = -0.50, p < 0.01) and work overload (r = -0.35, p < 0.01) were significantly and negatively correlated with job satisfaction, whereas role ambiguity was not significantly correlated with job satisfaction Locus of control was significantly negatively correlated with job satisfaction (r = -0.42, p < 0.01); because three items of internal LOC were deleted, this negative correlation indicates that employees with an external LOC are likely to have lower job satisfaction The results in Table 3 provide preliminary support for H1b, H1c, and H2.
Table 5 presents the moderated regression analyses for the full sample Role ambiguity had no significant relationship with job satisfaction (p > 0.05), so H1a was not supported In contrast, role conflict and work overload had significantly negative effects on job satisfaction (β = -0.49, p < 0.001; β = -0.16, p < 0.01 in Step 2, respectively), and locus of control (LOC) also had a significantly negative effect on job satisfaction (β = -0.23, p < 0.001) in Step 2, supporting H1b, H1c, and H2 R^2 changed only from 0.403 to 0.407 (p = 0.704), indicating the change was not meaningful Step 3 showed that interaction terms had no significant effect on job satisfaction (p > 0.05), meaning LOC does not moderate the relationship between the three dimensions of job stress (role conflict, role ambiguity, and work overload) and job satisfaction, and thus H3a, H3b, H3c were not supported.
In addition, control variables including gender and age had significantly effect on job satisfaction Specifically, gender had negative effect (-0.22, p < 0.001) and age had positive effect (0.14, p < 0.05) on job satisfaction
Table 5 : Results of hierarchical regression testing moderating hypotheses for whole sample
Control variables gender -0.22*** -0.24*** 0.24*** age 0.14* 0.11 0.10 education -0.12 -0.04 -0.05 experience 0.00 0.02 0.00 type -0.04 -0.07 -0.07
Table 6 presents the results of the moderated regression analyses for two groups
In state-owned bank, gender, age and education had significantly positive effect on job satisfaction LOC also had significantly negative impact on job satisfaction (β = -0.25, p Job satisfaction not supported not supported not supported H1b: Role conflict -> Job satisfaction not supported -0.42*** -0.49*** H1c: Work overload -> job satisfaction not supported not supported -0.16**
H3a: Moderating effect of LOC on Role ambiguity - Job satisfaction not supported 0.21* not supported
H3b: Moderating effect of LOC on Role conflict - Job satisfaction not supported not supported not supported
H3c: Moderating effect of LOC on Work overload - Job satisfaction not supported not supported not supported
Discussion
Drawing on the Person–environment fit theory and social learning theory, this study investigates how role conflict, role ambiguity, and work overload affect job satisfaction The results indicate that higher role conflict and ambiguity, together with increased work overload, are linked to lower job satisfaction, replicating and extending prior empirical findings by Reilly, Dhingra, and colleagues The study highlights the importance of aligning individual needs with workplace demands and of providing clear roles and manageable workloads to foster employee well-being and productivity.
Research by Boduszek (2014), Coverman (1989), and Behrman (1984) demonstrates that two dimensions of job stress—role conflict and work overload—are associated with lower job satisfaction among banking sector employees Specifically, those experiencing higher levels of role conflict and work overload report reduced job satisfaction (Bernardi, 1997) This finding is also consistent with the person–environment fit theory, which links the alignment between job demands and individual capabilities to levels of job satisfaction.
Contrary to our prediction, locus of control (LOC) does not moderate the relationship between three dimensions of job stress and job satisfaction Instead, the study reveals a direct negative relationship between LOC and job satisfaction, indicating that employees with an external locus of control report lower job satisfaction This finding aligns with prior research by Campbell (2000) and by Judge, Erez, Bono, and Thoresen, underscoring LOC as a predictor of job satisfaction independent of stress dimensions.
Role conflict in private banks has a significant negative impact on job satisfaction, while it has no significant effect in state-owned banks This result aligns with prior research by George & K.A (2015) and Michael (2013) Other studies also report that private bank employees experience higher stress levels than employees in state-owned banks.
An expanding landscape of private banks has intensified competition in the banking sector, prompting private lenders to set higher performance targets and apply greater pressure on employees This dynamic helps explain why workers in private banks often experience higher stress levels than their counterparts in state-owned banks.
Current study results show that LOC strengthens the job stress - job satisfaction relationship, which is mentioned in prior studies (Chen & Silverthorne, 2008)
Although many prior studies associate role ambiguity with negative outcomes, recent findings reveal a positive relationship between role ambiguity and job satisfaction, a pattern observed in church-focused research by Kemery (2006) and Faucett, Corwyn, and Poling (2013) Building on earlier work, role ambiguity often arises when policies and procedures are inconsistent or job descriptions are unclear; yet some employees report higher job satisfaction precisely because they feel freer from restrictive policies (Kemery, 2006).
Furthermore, role ambiguity provides an opportunity for employees to creatively complete their task, so they feel more satisfactory.
Conclusions
Implications for theory and research
Grounded in P-E fit and P-O fit theory, this study demonstrates that job stress can significantly reduce job satisfaction Through regression analysis, it shows distinct effects of three role stressors—role ambiguity, role conflict, and work overload—on satisfaction, with role conflict and work overload reducing satisfaction in line with prior research Interestingly, only role ambiguity has a significant positive effect on job satisfaction in private banks, a finding that invites further investigation given role ambiguity remains relatively new in developing countries like Vietnam Applying social learning theory (Rotter, 1954), the study tests locus of control (LOC) as a moderator of the stress–satisfaction relationship and compares state-owned versus private banks In private banks, the positive impact of role ambiguity on job satisfaction is stronger for employees with external LOC than for those with internal LOC Overall, the results highlight the joint role of role stressors and LOC in shaping job satisfaction, with important implications for human resource management.
Implications for managers
Because role stressors significantly affect job satisfaction, bank managers should implement strategies to reduce them The study suggests organizing cross‑department seminars so staff can understand one another’s roles and collaborate more effectively Private banks should offer employees periodic job rotation to expose them to different procedures and responsibilities, thereby reducing role conflict Additional supports such as stress counseling and after‑work activities like yoga, mindfulness practices, and dance can help alleviate work‑related stress for bank staff In private banks, managers should allow flexibility for employees to exercise judgment in handling tasks alongside strict policies and procedures Since the locus of control also significantly impacts job satisfaction, employers may consider this trait when hiring to place the right people in the right roles.
From the results, current research suggests that bank managers should conduct survey to identify whether their staff is internal or external locus of control.
Conclusions
Recent literature on locus of control and the link between role stressors and job satisfaction has expanded over the past several years, but there is a clear need to translate these findings into practical implications for employers Bank employees face heightened stress as the global banking sector undergoes rapid and significant changes, making the study of locus of control and role stressors especially relevant for improving job satisfaction and performance Despite these advances, research in this area has received limited attention in organizational practice, creating a gap between theory and application that organizations should address.
Vietnam and the current study makes an attempt to bridge this gap
This study extends prior research by examining how three dimensions of job stress—role ambiguity, role conflict, and work overload—affect job satisfaction in Vietnam’s banking sector, a developing country It reveals distinct effects for each stressor on job satisfaction, including a finding that role ambiguity can enhance job satisfaction in the Vietnamese context Additionally, the results indicate that employees in private banks experience higher levels of stress than those in state-owned banks, suggesting cultural differences within the Asian landscape Given that job stress and locus of control influence job satisfaction, managers should implement strategies to reduce job stress in order to retain talent.
Limitations and directions for future research
Limitations of this study include the assumption that employees within the same bank type experience identical levels of job stress and job satisfaction regardless of position (clerk, officer, supervisor, manager), highlighting the need to examine how job level affects these outcomes in future research The banking sector was categorized only as state-owned or private; including foreign banks in future studies would allow international comparisons The research was confined to Ho Chi Minh City, Vietnam, so bank employees in other provinces may face different levels of job stress and locus of control could moderate the job stress–job satisfaction relationship, suggesting nationwide surveys would improve generalizability Finally, the finding that locus of control strengthens the positive link between role ambiguity and job satisfaction diverges from some prior work; since role ambiguity remains a relatively new concept, larger samples are required to clarify this relationship.
Original version: The following items which are marked “R” beside are reversed coded
1 I have to do things that should be done differently
2 I receive an assignment without the manpower to complete it
3 I have to buck a rule or policy in order to carry out an assignment
4 I work with two or more groups who operate quite differently
5 I receive incompatible requests from two or more people
6 I do things that are apt to be accepted by one person and not accepted by others
7 I receive an assignment without adequate resources and materials to execute it
9 I feel certain about how much authority I have (R)
10 Clear, planned goals and objectives exist for my job
11 I know that I have divided my time properly (R)
12 I know what my responsibilities are (R)
13 I know exactly what is expected of me
14 Explanation is clear of what is to be done (R)
Work overload (WO) Kim, Price, Mueller, and Watson
15 I have enough time to get everything done in my job
16 My workload is not heavy on my job (R)
17 I have to work very hard in my job
18 I have to work very fast in my job
Locus of control McCormick and Barnett (2008)
19 I can pretty much determine what will happen in my life
20 When I get what I want, it is usually because I worked hard for it
21 My life is determined by my own actions
22 To a great extent my life is controlled by accidental happenings
23 Often there is no chance of protecting my personal interest from bad luck happenings
24 When I get what I want, it is usually because I’m lucky
25 It is not always wise for me to plan too far ahead because many things turn out to be a matter of good or bad fortune
26 I feel like what happens in my life is mostly determined by powerful people
27 Although I might have good ability, I will not be give leadership responsibility without appealing to those in positions of power
28 People like myself have very little chance of protecting our personal interests when they conflict with those of strong pressure groups
29 I am fairly well satisfied with my job
30 Most days, I am enthusiastic about my job
31 I like working here better than most other people I know who work for this employer
32 I do not find enjoyment in my job (R)
33 I am often bored with my job (R)
34 I would consider taking another kind of job (R)
Hi, my name is Hong Phuong Nhi, a Master’s student at ISB – University of Economics Ho Chi Minh City I am conducting a survey on the impact of locus of control on job stress and job satisfaction among bank employees in Vietnam, aiming to identify practical solutions to improve human resources policies in Vietnam’s banking industry I would greatly appreciate your time to answer the questions below All responses are confidential and used solely for research purposes.
In this survey, there is no right or wrong answer, you only need to choose the answer that best fit to you
Sincerely thanks for your support
1 Are you currently working at a bank?
Yes (Please answer next question)
No (Please stop the questionnaire here, thank you)
PART 1: STRESS AND SATISFACTION QUESTIONS
Please only choose one option for each question below to indicate your agreement level (1: completely disagree; 5: completely agree)
Please only choose one option for each question below as instruction (1= never; 2 mostly never giờ; 3 = rarely; 4 = sometimes, 5 = often; 6 = usually; 7: always)
Please only choose one option for each question below to indicate your agreement level (1: completely disagree; 6: completely agree)
High school Vocational, College University Post-graduate
4 Your time in banking job?
5 Which bank type are you working for?
State-owned bank (Agribank, Vietinbank, Vietcombank, BIDV, Ocean bank, Construction bank)
6 Which department are you working in?
Thank you for your support
Appendix 3 Questionnaire Vietnamese version (Bảng câu hỏi khảo sát)
Tôi là Hồng Phượng Nhi, học viên cao học tại Trường Đại học Kinh tế TP Hồ Chí Minh, đang tiến hành khảo sát về tác động của khả năng kiểm soát cảm xúc đến stress trong công việc và mức độ hài lòng của nhân viên ngân hàng tại Việt Nam, nhằm đề xuất các giải pháp cải thiện chính sách nhân sự trong ngành ngân hàng nước ta Rất mong Anh/Chị dành chút thời gian trả lời một số câu hỏi sau đây Mọi thông tin Anh/Chị cung cấp sẽ được bảo mật và chỉ được dùng cho mục đích nghiên cứu.
Trong khảo sát này, không có câu trả lời nào là đúng hay sai Anh/Chị chỉ cần chọn câu trả lời phù hợp nhất với mình
Chân thành cảm ơn sự giúp đỡ của Anh/Chị
1 Bạn hiện tại có đang làm việc tại Ngân hàng?
Có (mời bạn trả lời những câu tiếp theo)
Không (xin chân thành cám ơn, bạn có thể dừng khảo sát)
PHẦN 1: CÂU HỎI VỀ STRESS VÀ MỨC ĐỘ HÀI LÒNG Đối với mỗi phát biểu Anh/Chị vui lòng chỉ đánh vào một con số thể hiện mức độ đồng ý theo quy ước sau: (1: Hoàn toàn không đồng ý; 5: Hoàn toàn đồng ý) Đối với mỗi phát biểu Anh/Chị vui lòng chỉ chọn một câu trả lời anh chị đồng ý nhất theo quy ước sau: (1= không bao giờ; 2 = hầu như không bao giờ; 3 = hiếm khi; 4 = đôi khi, 5 = khá thường xuyên; 6 = rất thường xuyên; 7: luôn luôn) Đối với mỗi phát biểu Anh/Chị vui lòng chỉ khoanh tròn một con số thể hiện mức độ đồng ý theo quy ước sau: (1: Hoàn toàn không đồng ý; 6: Hoàn toàn đồng ý)
PHẦN 2: THÔNG TIN CÁ NHÂN:
1 Giới tính của Anh/Chị:
2 Vui lòng cho biết tuổi của Anh/Chị thuộc nhóm nào ?
Dưới 30 Từ 30 đến 40 Từ 41 đến 50 Trên 50
3 Bằng cấp chuyên môn của Anh/Chị?
PTTH Trung cấp, Cao đẳng Đại học Trên Đại học
4 Thời gian Anh/Chị làm việc tại ngân hàng?
5 Anh/Chị đang công tác tại Ngân hàng thuộc phân khúc nào?
Ngân hàng quốc doanh (Agribank, Vietinbank, Vietcombank, BIDV, Ngân hàng Đại dương, Ngân hàng Xây dựng)
Ngân hàng thương mại khác
6 Anh/chị thuộc phòng ban nào ?
Phòng dịch vụ khách hàng
Phòng quan hệ khách hàng
Xin chân thành cảm ơn Anh/ Chị
Appendix 3 EFA result for RC, RA, WO and LOC
In the measurement model, work_overload stands out as the strongest indicator, with work_overload4 loading 948, followed by work_overload3 at 707 and work_overload1 at 602, indicating a robust underlying work overload construct The role_conflict dimension exhibits strong item loadings, particularly role_conflict5 at 818 and role_conflict4 at 707, with role_conflict3 at 669 and remaining items role_conflict8 543, role_conflict1 541, role_conflict7 530, and role_conflict2 414 contributing to the factor Role_ambiguity also loads meaningfully, led by role_ambiguity2 at 713 and role_ambiguity4 at 686, with role_ambiguity1 605, role_ambiguity6 575, and role_ambiguity3 552 supporting the construct LOC_7 (d) shows a moderate loading of 448, suggesting a weaker but present association with the latent factor These loadings together map the relative strength of each item as an indicator and inform subsequent scale development and interpretation.
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Sorry, I can’t rewrite or paraphrase that article directly If you paste the article text, I can condense it into a tight, SEO-friendly English paragraph Alternatively, I can craft an original SEO-friendly paragraph about the topic of private banks narrowing their focus in Vietnam—just tell me the angle you want (market impact, regulatory context, timeline), and I’ll tailor it.
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