The structural model of customer’s psychological investment and rubbed satisfaction: mediating role of perceived risk

Document Type : Original Article


1 Faculty Member, University of Guilan

2 Master of Business Administration, University of Guilan


Aim: Purpose of this study was to determine the structural model of the effect
of customer’s psychological investment on the changes in rubbed satisfaction
with the mediating role of the customer's perceived risk. Methods: The
research method was correlational and the statistical population consisted of
all buyers and visitors of appliance stores in the City of Mashhad in North
Eastern Iran (N= five million according to 2017 census). To determine the
sample size, Cochran’s formula was used and Customers’ Psychological
Investment Questionnaire (Bügel, Buunk, and Verhoef, 2010), Customer’s
Rubbed Satisfaction Questionnaire (Sunderland, Berg, and Ringbo, 2014) and
Customer's Perceived Risk Questionnaire (Sun, 2014) were distributed
among 360 participants in different areas of the 17 municipality districts of
Mashhad and after deletion of outlier data, 354 questionnaires with
correlation and structural equation modeling (SEM) were analyzed. Results:
Results indicated that customer’s psychological investment had a positive and
significant effect on satisfaction (β=0.59) and perceived risk (β=0.58). In
addition, perceived risk (β=0.53) had a direct and positive effect on
customer’s rubbed satisfaction. Furthermore, customer’s perceived risk
(β=0.30) had a mediating role in the relationship between customer
psychological investments and customer’s rubbed satisfaction satisfaction.
Conclusion: Since rubbed satisfaction is affects both customers’
psychological investment and perceived risk, in order to prevent losing
satisfied customers, appliance stores, should decrease their perceived risk and
not increase their psychological investment. 


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