engleski

Perceived risk as a determinant of perceived value and purchase intention

This paper explores the direction and the intensity of the effects of perceived risk dimensions on the perceived value and the purchase intention. The dimensions of perceived risk refer to the perceived functional risk and the perceived financial risk. Four hypotheses about the relationship between researched variables were defined based on the review of relevant scientific literature. The structural model of effects of perceived risk dimensions on perceived value and purchase intention was defined. The hypotheses are as follows: (1) the higher the perceived functional risk, the higher the financial risk, (2) the higher the functional risk, the lower the perceived value, (3) the higher the financial risk, the lower the perceived value, and (4) the higher the perceived value, the higher the purchase intention. In order to test the structural model and hypotheses, an empirical research has been conducted. The sample consisted of 1013 respondents from the four biggest cities in Croatia: Zagreb, Split, Rijeka, and Osijek. In order to test reliability and validity of measurement scales, empirical data were analyzed using exploratory and confirmatory factor analysis and Cronbach’ s alpha coefficients were calculated for every applied measurement scale. Furthermore, empirical data were analyzed with a set of analytical techniques in order to check their consistency with the assumptions for a successful application of the structural equation modeling technique. Structural equation modeling was used to test the structural model of effects of perceived risk dimensions on perceived value and purchase intention. The results of the empirical research indicate overall acceptability of the analyzed structural model, suggesting that the research hypotheses can be accepted. Finally, conclusions and implications of the research results were discussed.

perceived risk; perceived functional risk; perceived financial risk; perceived value; purchase intention

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