Results
In the final stage of the research the proposed conceptual model was tested with structural
equation modeling. The overall structural model is shown in Figure 1. To obtain a more
favorable number of parameters to be estimated, we conducted an additional simplification of
our eight-factor model to a final four-factor model. Final result of this stage is a perceived
value factor with two indicators and a hotel quality factor with four indicators. Since two new
constructs had been computed, once again a discriminant analysis was performed. Pairs of
constructs involving all possible combinations were assessed in series of two-factor CFA
models using LISREL. A chi-square difference test was then performed on the nested models
to assess if the ?2
values were significantly lower for the unconstrained models (Anderson and
Gerbing, 1988). The critical value (p