Understanding consumer online shopping behaviour from the perspective of transaction costs

Table 5.24 Mediation Analysis Results 
Model 1 
Model 2 
Exogenous variables 
Customer Loyalty 
Customer Satisfaction 
Customer Loyalty 
Consumer TCs 
-.724
***
(-32.552) 
-.749
***
(-35.036) 
-.240
***
(-9.110) 
Customer 
Satisfaction 
.647
***
(24.610) 
R
2
.524 .561 
.708 
Note: 
*** 
p < 0.001 
5.9 MULTIPLE GROUP ANALYSES: TEST OF MODERATORS 
Multigroup SEM was used to test the moderating effects of consumer’s risk-bearing 
propensity and perceive enjoyment of online shopping (i.e., H7a to H8b). Specifically, the 
structural model (Figure 5.2) was used with both groups of consumer’s risk-bearing 
propensity and of perceived enjoyment of online shopping for the entire sample (n = 962). 
The two groups of consumer’s risk-bearing propensity represent two different levels of 
consumer’s risk-bearing propensity on a specific retailer for securing a specific product: low-
risk-bearing and high- risk-bearing. To divide the entire sample into a low-risk-bearing group 
and a high- risk-bearing group, the sum of the five items that was used to measure risk-
bearing propensity was computed and then the mean of the sum was calculated. Observations 
with the sum of the five items lower than the mean were grouped into the low-risk-bearing 
group while observations with the sum higher than the mean were grouped into the high-risk-

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bearing group. The same method was employed to divide the entire sample into a low 
enjoyment group and a high enjoyment group, which represent two different levels of 
enjoyment perceived by online shoppers. The multigroup SEM used to test each moderating 
effect is described in detail below.