Chen, K. Y., Chen, P. Y., Dai, Y. D., and Wu, L. Y. 2016. Perceived Quality, Perceived Value, and Behavior Intention from the Perspective of Transaction Cost. NTU Management Review, 27 (1): 191-224. https://doi.org/10.6226/NTUMR.2016.MAR.C102-019
Kuan-Yang Chen, Assistant Professor, Department of Tourism and Leisure, Lunghwa University of Science and Technology
Po-Yuan Chen, Assistant Professor, Department of International Business, National Dong Hwa University
You-De Dai, Associate Professor, Department of Tourism, Leisure and Hospitality Management, National Chi Nan University
Lei-Yu Wu, Professor, Department of Business Administration, National Chengchi University
Abstract
Scholars have long used the perceived quality-perceived value-behavior intention (Q-V-B) model to examine consumers’ purchasing behavior. Determining the factors that affect the Q-V-B model is a critical task for consumer research. Most previous studies primarily assess positive antecedents (e.g., product image) of Q V-B model, neglecting related negative factors (e.g., transaction cost). The main task of marketing lies in solving the problem of “exchange”. This study assumes that transaction cost economics (TCE), which posits that information searching cost and moral hazard cost are the crucial elements that influence a transaction, can compensate for the deficiency of the Q-V-B model. Accordingly, this study proposes a research framework that integrates both the Q-V-B model and TCE. Travel service is selected as the study field to be examined. A total of 111 consumer questionnaires are collected and examined using empirical analysis. The results indicate that, in addition to supporting the hypothetical Q-V-B relationship, information searching cost negatively affects perceived quality, and moral hazard cost is negatively related to perceived quality and value.
Keywords
perceived quality-perceived value-behavior intention (Q-V-B) modeltransaction costinformation searching costmoral hazard cost