The estimation results in Table 3 indicate that the first three hypothesis, H1 (quality value), H2 (quality satisfaction) and H3 (quality loyalty), are strongly supported, with standardized path coefficients of 0.693, 0.943 and 0.787 respectively. However, the last three hypothesis, H4 (value satisfaction), H5 (value loyalty) and H6 (satisfaction loyalty), are not supported and are deleted from the model one by one based on Wald test results.
In terms of explanatory power, the model accounts for 89% of the variance in overall satisfaction, 48% of the variance in perceived value and 62% of the variance in loyalty. In other words, the model has high explanatory power for overall satisfaction and moderate explanatory power for perceived value and loyalty. The results imply that good perceived service quality are very important for this case study on harbor cruise travellers as it affects perceived value, overall satisfaction and loyalty directly and significantly. So the management should maintain good service quality to attract customers. The results also suggest that the link between perceived value and overall satisfaction, perceived value and loyalty, and satisfaction and loyalty are insignificant for cruise customers. Further analysis on how to improve value perceptions, satisfaction and loyalty for harbor cruise travelers is needed.