Functional Value and Risk in Romanian SMEs
Functional Value and Risk in Romanian SMEs

Summary/Abstract: The objective of this study is to test the hypothetical relation between risk and the benefits and sacrifices components of functional value, and also the relation between value, satisfaction and loyalty (intention to switch). Various schools of thought on functional value are investigated in order to identify major contributions on this subject and also the risk related literature is analyzed in order to bridge the gap between the value and risk constructs. The relation between the above mentioned concepts (risk, value, satisfaction and loyalty) is tested empirically on a representative sample of Romanian SMEs. The results confirm the hypothetical relation between this constructs thus providing support to similar findings reported in other studies. Contribution to knowledge, managerial implications, limits and future research are also discussed.

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