HOLISTICA Vol 15, Issue 2, 2024, pp. 157-170 DOI:10.

2478/hjbpa-2024-0020

LEADERSHIP STYLES AND EMPLOYEE JOB SATISFACTION IN

NEPALESE BANKING SECTOR

Padam Bahadur LAMA 1

Narayan Prasad ARYAL 2,*
Prem Bahadur BUDHATHOKI 3
Sunil Man SHAKYA 4
Rohan SHRESTHA 5

Received: September 2024 | Accepted: November 2024 | Published: December 2024

Please cite this paper as: Lama, P.B., Aryal, N.P., Budhathoki, P.B., Shakya, S.M., Shresta, R. (2024)
Leadership styles and employee job satisfaction in Nepalese banking sector, Holistica Journal of
Business and Public Administration, Vol. 15, Iss. 2, pp.157-170

Abstract

This research discusses the findings of employee job satisfaction linked with leadership styles based on the
evidence of Nepalese banking sector to mitigate the gaps in leadership styles in the context of Nepal. This
paper investigates the impact of leadership styles on employee job satisfaction. The research adopts
positivism philosophy with deductive approach for conducting the survey. The cross-sectional data collected
through structured questionnaire and convenience sampling, received only 140 useful questionnaire from
respondents out of 160 questionnaire distributed among employees of Nepalese banking institutions. Data
analysed using descriptive statistics, correlation, and regression analysis. The reliability test adopted through
Cronbach’s alpha and its value indicates the internal consistency. The result depicts that the
transformational leadership, transactional leadership, and ethical leadership found positive association with
employee job satisfaction and it reflects that the leadership style found positive impact on employee job
satisfaction. It reveals that leadership influences the proportion of employee job satisfaction among the
employees of banking sector in Nepal. The paper provides novel findings to bridge the gap in leadership
literature by presenting original evidence those different types of leadership styles influences the employees
level of job satisfaction. Moreover, the findings of this result paper sparks new discourse, and contributes to

1
Tribhuvan University, Saraswati Multiple Campus, Kathmandu, Nepal. Email:
[Link]@[Link], ORCID ID: [Link]
2
Tribhuvan University, Saraswati Multiple Campus, Kathmandu, Nepal. Email:
[Link]@[Link], ORCID ID: [Link]
* Corresponding author.
3
Tribhuvan University, Saraswati Multiple Campus, Kathmandu, Nepal. Email:
[Link]@[Link], ORCID ID: [Link]
4
Tribhuvan University, Saraswati Multiple Campus, Kathmandu, Nepal. ORCID ID: ORCID:
[Link]
5
Tribhuvan University, Saraswati Multiple Campus, Kathmandu, Nepal. Email:
rohan.789530@[Link],
ORCID ID: [Link]
HOLISTICA Vol 15, Issue 2, 2024, pp.157-170
organizational practices and policies inclined with leadership in Nepalese context and others. Finally, these
results offer invaluable guidance for organizations seeking to cultivate leadership styles. Simultaneously, it
emphasizes the importance of promoting best-suited leadership and enhancing the employee satisfaction in
organizational practices.
Keywords: Leadership, Nepalese banks, Job Satisfaction

1. Introduction
The banking institutions carry out their tasks in an environment that is constantly
changing, while simultaneously facing enormous issues of sustainability and being
confronted with intense competition. In order to have a banking institution that is
standing in a vibrating position, which is strongly dependent on the doctrine and course
of actions pursued by leadership in the business, it is essential to embrace creative
methods that stimulate employee job satisfaction for competitive advantages.
As a result, the process of constructing eternal leading paths for the success of a banking
institution is inclined to adhere to models of superiority that are adhered to by
corporate command. In addition, the leadership style is the primary means by which the
production of employees can be improved in accordance with the management style
that is effective. Well managed strives to establish a robust culture within the
organization that fosters the happiness of workers in their assigned tasks (Xanthopoulou
et al., 2009, pp. 183-200).
Banking organizations in particular have had to cope with reforms that haven't been put
into effect. In order to assure survival, innovative, quick, and focused responses have
been brought about by global competition, quick technology improvement, and the
opening of new markets (Blanch et al., 2016, pp. 170-176; Khuwaja et al., 2020, pp. 1-
21). Crucially, managers and leaders must manage the fundamental changes in their
organization and possess the proper leadership style. Additionally, transformational
leadership inspires followers to achieve goals that are independently or jointly
established by individuals utilizing power and values, economics, or politics.
Furthermore, transactional leadership is characterized by a supervisor who makes it
apparent to his followers what is expected of them and what kind of payment they can
anticipate in return for their work and performance. To achieve the desired
performance, the transactional leader clearly defines who is in charge of what (Bass,
1985, pp. 26-40; Cinnioglu, 2018). The subject of ethical leadership, which includes
setting moral standards and employ possible support to control moral behaviour, has
also been the subject of numerous research. It also involves encouraging moral
behaviour and setting an example for others to follow. (Brown et al., 2005, pp. 117-134;
Resick et al., 2006, pp. 345-359; Taamneh et al., 2022; Taamneh et al., 2024).Similarly,
moral leaders employ collective motivation to influence followers.
In addition, companies are putting a lot of effort into being successful in the current
market. An company's successfulness is directly related to the caliber of its leaders
(Odumeru, 2013, p. 355; Paracha et al., 2012, pp. 55-64). Subsequently, employment
happiness refers to an individual’s viewpoint toward their employment and the

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discrepancy between the quantity of reward they receive and the volume they believe
they should receive (Sani, 2013, pp. 57-67). It's interesting to note that a person who is
highly satisfied has a positive outlook on their duty. On the other hand, a living soul who
is unfortunate with his work will act negatively about it (Cahya & Wibawa, 2016).
Employees are also the most crucial factor in guaranteeing advanced performance.
Employees need support and incentives, which are often given by company executives,
to ensure they can fulfil this assignment. Additionally, workers who have a good rapport
with the workplace administration are more possibility to be happy in their posts.
Employee satisfaction with school leadership determines their level of engagement and
commitment to their work (Silins and Mulford, 2002, pp. 425-446; Tesfaw, 2014, pp.
903-918).
Additionally, for an organization to work well, a leader is necessary. This is still true in
spite of the enormous challenges that come with being a leader. The effectiveness of an
organization's leadership is one of the greatest factors to consider when analysing its
forecast. The group's proficiency to effectively complete duties depends on how well the
pack is led (Zenger and Folkman, 2002; Drucker, 1996). Few studies have concentrated
on this topic, despite the fact that there are many on the elements that contribute to
job satisfaction, especially in developing nations. As a result, studies on leadership
philosophies and job satisfaction show that both visionary and traditional leadership are
undoubtedly correlated with white-collar worker encouragement in a variety of
industries. Systematic leadership was found to have a weaker correlation with job
satisfaction than ethical decision-making (Muttalib et al., 2023). In the manufacturing
industry, job satisfaction is significantly improved by both transformational and
transactional leadership styles (Natarajan, 2023; Spitzbart, 2013, pp. 69-76; Angka &
Darma, 2016).
More study is necessary to determine how principled leadership influence work
fulfilment in various enterprises, as the majority of studies concentrate on macro and
directive leadership. To improve job happiness, leaders should also be aware of how
they direct and how their employees understand them (Spitzbart, 2013, pp. 69-76). This
study intends to inspect the impact of style of leadership, including Change-oriented,
task-oriented, and principled leadership, on job satisfaction among employees in Nepal's
banking industry, as prior research has mostly focused on other domains. By addressing
the issue, "What is the consequences of leadership style on job satisfaction of
employees?" this article helps close the stated knowledge and theoretical gap by
examining the relationship between organizational structure and employee job
satisfaction in the banking industry.

2. Literature review
2.1. Transformational Leadership and Job Satisfaction
Over the past few periods, transformational supervision has been a key concept in
managerial success. It combines personal and specialist objectives to motivate and

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enlighten followers. Globally recognized and proven to be more successful across
industries, inspirational leadership differs from efficiency-focused leadership, which is
predicated on provisional strengthened. Higher moral development is necessary for
systemic leadership, which can be either order or participative (Bass, 1999, pp. 9-32).
Through the writings of Burns, Bass, Avolio, and Leithwood, the idea has changed to
meet changing educational needs (Stewart, 2006). It covers strategies for decision-
making, improvement, and policy-making transformation (Bass & Avolio, 1993). By
offering a three-stage developmental model, a constructive/developmental theory
clarifies how personality differences influence transactional or transformational
leadership styles (Kuhnert & Lewis, 1987, pp. 648-657). Despite continuous debates,
organizational challenges and reform scenarios continue to influence transformational
leadership (Stewart, 2006). Numerous examinations have demonstrated that change
leadership significantly improves employee motivation of staff, and among the four
charismatic leadership traits, personalized consideration significantly increased job
satisfaction (Hanaysha et al., 2012, pp. 145-148; Choi et al., 2014, pp. 117-124; Minten,
2020; Metwally et al., 2014).
Hypothesis 1 H1. Transformational leadership has a positive and significant relationship
with job satisfaction
2.2. Transactional Leadership and Job Satisfaction
The focus of transactional leadership theory, which cultivated concurrently with
transformational leadership theory, is on commanders and disciples interacting
reciprocally (Kidney, 2015). It is comprised of dependent rewards and social exchange
(Bass, 1985, pp. 26-40, as referenced in Hoover, 1991). A developmental model was
proposed by (Kuhnert & Lewis, 1987, pp. 648-657) to explain how personality variations
lead to transformational or transactional styles. By developing a transactional leadership
style that encompassed spiritual aspects of awareness, sense of morality, and hope,
(Sanders et al., 2003, pp. 21-31) built upon these theories. To increase leader
effectiveness, this hierarchical strategy blends metamorphic aspect and transactional
ingredient. The difference between autocratic and empowering leadership factors has
been confirmed by empirical study in a variety of settings, such as business and
cultivation (Hoover, 1991). But according to studies, the idea of charisma in valuable
leadership might need to be reconsidered. These theories, which highlight the
significance of leader-follower interactions in attaining effective leadership and job
satisfaction, have rekindled leadership study since the 1980s (Kidney, 2015). In a variety
of settings, research continuously shows a good correlation between command and
control leadership and career contentment. Top-down leadership properties and
workplace morale were found to be significantly positively correlated in studies
conducted in Nigerian banks (Akhigbe et al., 2014, pp. 14-23), Nepali commercial banks
(Chalise & Paudel, 2023), and the Indonesian tax service (Setiani & Rizaldy, 2021).
According to (Akhigbe et al., 2014, pp. 14-23; Spitzbart, 2013, pp. 69-76), active
management by exception and contingent compensation were very successful in raising
job satisfaction.

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Hypothesis 2 H2: Transactional leadership has a positive and significant association with
job satisfaction
2.3. Ethical Leadership and Job Satisfaction
A novel concept that blends ethics and leadership, ethical leadership highlights the
leader's responsibility to act morally and offer moral guidance (Griech et al., 2023). It
comprises communicating moral sentiments and prosocial values to stakeholders (Banks
et al., 2020). It is implied that ethical behaviour is not limited to a particular theoretical
foundation by the fact that different management philosophies can be matched with
different ethical theories (Dion, 2012, pp. 4-24). Expressing the company's mission and
goals, training employees, encouraging moral dialogues, offering channels for
communication, making tough choices, and framing actions in an ethical manner are all
essential components of ethical leadership (Freeman et al., 2005). According to the
social development theory, people pick up morals and appropriate actions by seeing the
actions of respectable and likeable people. According to a number of academics, leaders'
moral behaviour may have a direct impact on initiatives to help hired hands adopt
constructive, values-driven behaviours (Burns, 1978; Bedi et al., 2016, pp. 517-536;
Adnan et al., 2020; Bandura, 1997, p. 191). Ethical leadership uses a conceptual, ethical
perspective to analyse a variety of actions. Managers at lesser levels of the management
tree can learn and internalize the morality and standards of higher-level leaders because
ethical leaders manifest integrity and set and uphold ethical standards for both
themselves and their underlings (Bandura, 1977, p. 191; Adnan et al., 2020). In a variety
of organizational circumstances, ethical leadership has been found to have a favorable
impact on job satisfaction. According to earlier research, job satisfaction is impacted by
ethical leadership (Okan & Akyuz, 2015; Freire & Bettencourt, 2020, pp. 319-330; Fuller,
2022).
Hypothesis 3 H3: Ethical leadership has a positive and significant relationship with job
satisfaction
2.4 Job satisfaction
Job satisfaction, which reflects an employee's absolute feeling state as a result of their
industrial attachments, is a crucial notion in organizational behavior. It has important
ramifications for both people and businesses, with the ability to increase output and
client happiness (Tandon & Tyagi, 2012). Job satisfaction is explained by a number of
theories, including as content and process theories (Naru, 2021).

3. Methods
The study's goal was to evaluate how administration models impact the job satisfaction
of workers in Nepal's banking industry. Job satisfaction remained the outcome variable
but the study variables for inspirational leadership, authoritarian leadership, and
integrity-based leadership were used as autonomous factors. In order to investigate the
research hypothesis, this study used a logical approach and positivist research

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philosophy. 140 cross-sectional data points were gathered from banking personnel as
respondents for this study. 160 structured questionnaires were distributed to staff
members of one development bank and four commercial banks in Kathmandu, Nepal.
Non-probability stratified sampling approach was used in the study. The survey collected
data using two distinct questionnaire segments. The first section asked respondents'
demographics, and the second section used Likert scale items for inspiring leadership,
traditional leadership, values-driven leadership, and workplace morale to try and get
their opinions. The five-point Likert scale used for the transformational leadership-based
issues was taken from (Sandell, 2011, p. 1-92) and shows 1 as strongly disagreeing and 5
as strongly agreeing. "Top level management makes other staff feel comfortable around
them, and the leader cares about me as an individual and ants the best for me" is one of
the transformational leadership sample items. "Top level management provides rewards
for achieving performance expectations and when issues arise, my supervisor steps in
right away to ensure we're still meeting expectations," according to the five-point Likert
scale items based on transactional leadership that were taken from (Mitchell, 2019). The
phrase "my top-level management treats everyone on my team fairly and equally and
my leader is someone who admits their fault and makes an effort to make things right"
is also included in the five-point Likert scale items for ethical leadership that were taken
from (Chikeleze, 2014, p. 1-101). "My workload is reasonable and I am able to get
everything that needs to be done and the people who are part of my team work
together efficiently to accomplish objectives," is the final statement on the five-point
Likert scale for job satisfaction that was taken from (Vijayamohan, 2022). Regression
analysis was used to establish the influence of predictor variables, such as growth-
focused leadership, task-oriented leadership, and upright leadership, on job satisfaction
as an outcome variable. Descriptive statistics were also used to reflect the general
features of respondents, and correlation analysis was used to evaluate the relation
between the research variables. In an effort to evaluate the reliability, the Cronbach's
alpha value was produced. For transformational leadership, the Cronbach's alpha value
is 0.785; for transactional leadership, it is 0.691; for ethical leadership, it is 0.695; and
for work satisfaction, it is 0.828. Lastly, Cronbach's alpha has an overall value of 0.806.
With the exception of transactional leadership's Cronbach's value, which demonstrates
reliability through internal consistency, the most of Cronbach's alpha values are greater
than 0.70.
3.1 The model Specification
The model estimated for study assumes that different leadership styles influence the job
satisfaction. The model developed for this study is presented below:
JS= i + β1TRFML1 + β2 TRNSL + β3 ETCL + ei (1)

Where,
JS= Job Satisfaction
i= Intercept
TRFML = Transformational leadership

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TRNSL = Transactional leadership
ETCL = Ethical leadership

4. Results
4.1. Profile of respondents
140 survey participants' profiles are displayed in Table 1. A total of 85 women (60.70
percent) and 55 men (39.30 percent) took part in the study. In a similar vein, the largest
percentage of poll respondents—87, or 62.10 percent—were between the ages of 26
and 32, while the lowest percentage—4 members—were over 40, or 2.90 percent.
Additionally, 113 (80.70 percent) of the respondents had one to three years of job
experience, while 27 (19.30 percent) had four to seven years of experience. Lastly, the
operation department's 63 (45.00%) survey respondents continued to be the largest
group, while the others department's 10 (7.10%) respondents made up the smallest
percentage.
Table 1 Demographic Information of the Participants
S.N. General Information Classification Frequency Percentage
Male 55 39.3
1 Gender Female 85 60.7
Total 140 100.0
18 to 25 11 7.9
26 to 32 87 62.1
2 Age group 33 to 39 38 27.1
Above 40 4 2.9
Total 140 100.0
1 to 3 years 113 80.7
3 Experience duration 4 to 7 years 27 19.3
Total 140 100.0
Credit 10 7.8
Operation 63 45.0
Department of Remittance 19 13.6
4
Respondents Teller 37 26.5
Others 10 7.1
Total 140 100.0
Source: Data processed (2024)

4.2. Correlation Analysis

The correlation analysis with Pearson’s correlation coefficients used in the examine for
assessing the bonds between inspirational leadership (TRFML), authoritarian leadership
(TRNSL), moral leadership (ETCL) and career contentment (JS).

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Table 2 Correlation Matrix
Variabl Std. Coefficie
1 2 3 4
es Mean Deviation nt
3.876 .31948 Pearson's
1.00
TRFML 8 r
p-value —
3.526 .54036 Pearson's 0.754**
1.00
TRNSL 8 r *
p-value < .001 —
3.741 .71054 Pearson's 0.595** 0.752**
1.00
ETCL 1 r * *
p-value < .001 < .001 —
3.950 .60588 Pearson's 0.333** 0.409** 0.502** 1.0
JS 0 r * * * 0
p-value < .001 < .001 < .001 —
Note. * p < .05, ** p < .01, *** p < .001, TRFML = Transformational leadership,
TRNSL = Transactional leadership, ETCL = Ethical leadership, & JS = Job satisfaction
Source: Data processed (2024)
According to Table 2, there is a positive link between change-oriented leadership and
job satisfaction (r = 0.333, p < 0.001). This indicates that when a business implements
charismatic leadership, job happiness increases as a result. Likewise, there is a positive
correlation between transactional leadership and work satisfaction (r = 0.409, p <
0.001), suggesting that organizational leadership practices that encourage employee job
satisfaction include transactional leadership. Lastly, there is a positive correlation
between ethical leadership and job satisfaction (r = 0.502, p <0.001), suggesting that
implementing ethical leadership inside the company improves job satisfaction among
workers in the banking industry in Kathmandu, Nepal.
4.3. Regression Analysis
The regression analysis in this investigate employed to assess the power of change
leadership, task-oriented leadership, and principled leadership on job satisfaction
among the employee of banking sector in Nepal. Thus, the linear regression model for
this study is JS= i + β1TRFML1 + β2 TRNSL 2 + β3 ETCL 3 + ei. The Transformational
leadership (TRFML), transactional leadership (TRNSL), ethical leadership (ETCL), and job
satisfaction (JS) and research variables in the study.

Table 3: Regression analysis

Collinearity
Regression 1 2 3 Statistics
VIF Tolerance
Intercept 3.184*** 2.085*** 1.414***

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(0.000) (0.000) (0.000)
0.175***
TRFML 2.33 0.43
(0.000)
0.365***
TRNSL 3.46 0.289
(0.000)
0.589***
ETCL 2.32 0.432
(0.000)
Adj. R-
0.104 0.161 0.247
square
F value 17.17 27.77 46.59
SEE 0.573 0.555 0.526
p-values in parentheses
* p<0.05, ** p<0.01, *** p<0.001
Note: TRFML = Transformational leadership, TRNSL = Transactional leadership, ETCL =
Ethical leadership, & JS = Job satisfaction (Dependent variable)
Source: Data processed (2024)

Table 3 displays the regression coefficient used to assess the influence of independent
factors on dependent variables. The beta coefficient (β = 0.175, p < 0.000) shows that
visionary leadership improves job satisfaction among banking staff. Furthermore, it
shows that a one-unit change in change leadership increases staff jobs quality by 0.175
units, implying that better leadership techniques based on transformational leadership
will result in higher job satisfaction. The beta coefficient (β = 0.365, p < 0.000) indicates
that transactional leadership has a substantial beneficial impact on employee job
satisfaction. It demonstrates that a single unit shift in directive leadership leads to
higher work satisfaction among employees. It suggests that even implementing
transactional leadership in Nepal's banking industry will increase employee job
satisfaction. The beta coefficient for ethical leadership (β = 0.589, p < 0.000) shows that
this leadership style has a positive and substantial influence on employee work
satisfaction. An increase of one unit in ethical leadership increases employee job
satisfaction by 0.589 units. This implies that establishing an ethical leadership style in
Nepal's banking business enhances employee work satisfaction.
Regression model:
JS= 3.184 + 0.175TRFML1 + 0.365TRNSL + 0.589ETCL + ei (2)
Where,
JS= Job Satisfaction
i= Intercept
TRFML = Transformational leadership
TRNSL = Transactional leadership
ETCL = Ethical leadership

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5. Discussion
5.1. Discussion
The study focused on examining the effects of principled, directive, and inspirational
leadership styles on the job enjoyment of workers in Nepal's banking industry. The study
examined the opinions of respondents gathered based on explanatory variable and
evaluated hypotheses to close the research gap. The analysis's conclusion showed that
charismatic leadership affects workers' job satisfaction in the banking industry. The
findings also showed a favourable correlation between job satisfaction and catalytic
leadership. This study shown that implementing inspirational leadership in firms raises
employee happiness. Therefore, there is evidence of a positive and considerable
influence of transformational leadership on job satisfaction in the context of the banking
industry in Nepal. (Hanaysha et al., 2012, pp. 145-148; Choi et al., 2014, pp. 117-124;
Minten, 2020; Metwally et al., 2014). This outcome is consistent with earlier research.
Likewise, there was a strong and substantial correlation between transactional
leadership and job satisfaction, indicating that transactional leadership has a favorable
impact on job satisfaction. Previous empirical findings (Akhigbe et al., 2014, pp. 14-23;
Setiani & Rizaldy, 2021; Chalise & Paudel, 2023; Spitzbart, 2013, pp. 69-76) are
consistent with this finding. These results demonstrate how transactional leadership
adaptability affects worker job satisfaction. Lastly, the study's results showed a strong
and positive correlation between ethical leadership and job satisfaction, suggesting that
ethical leadership affects workers' job happiness. This result is consistent with earlier
research (Okan & Akyuz, 2015; Freire & Bettencourt, 2020, pp. 319-330; Fuller, 2022).
The results of this study showed that learning and implementing management
techniques through the use of moral leadership in businesses contributes to increased
employee satisfaction in the banking industry.
5.2. Conclusion
The study looked at different leadership styles and how they influenced job happiness in
the banking business. This study looked at how political forms relate to and impact
employment stability. The study attempted to assess how ethical, transactional, and
transformational leadership influenced workers' work fulfilment in Nepal. According to
the research, transformational leadership has a significant beneficial influence on jobs
quality. This study concludes that executives in the banking business who use a
transformational leadership style provide a foundation for inspiring their employees
with job happiness, indicating the importance of innovative leadership strategies in
increasing job satisfaction. Next, a positive association between top-down leadership
and work happiness was observed, displaying that even when transactional authority is
adapted for the Nepalese context, employee job satisfaction is addressed. It concludes
that extraordinary leadership approaches are necessary for enhancing employee job
satisfaction. Furthermore, a positive relationship was established between ethical
leadership and work satisfaction, showing its influence on the latter. It gets to the
conclusion that boosting employee work satisfaction necessitates ethical leadership.

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These research findings support the notion that, when organizational leaders lead
activities, the diverse patterns of leadership in different work zones call for a
combination of transformational, transactional, and ethical policy frameworks. The
elements influencing job satisfaction are also discussed, with a special emphasis on
leadership styles. It demonstrates how employees are satisfied with many leadership
styles such as transformational, transactional, and ethical leadership. As a result, the
current study contributes to the growing body of data demonstrating that organizational
leaders must use suitable leadership styles in order to boost worker employment
stability. Nonetheless, this study was based on empirical data from Nepal's banking
industry and examined the links between work satisfaction and leadership styles.
Crucially, this conclusion was reached using data from cross-sectional primary sources;
the results may differ if longitudinal data is employed. As a result, it would be good to
expand on the current findings in future research by looking at the relationships
between additional factors influencing work satisfaction in variegated circumstances
and leadership styles that include excluding other leadership. In a similar vein, a large
sample size, longitudinal data-based study might represent a gap in this work, indicating
a viable field for future research.
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