Submitted:
08 June 2026
Posted:
10 June 2026
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Abstract
Keywords:
1. Introduction
2. Literature Review
2.1. Underpinning Theory
2.2. Hypothesis Development
2.3. Conceptual Framework
3. Materials and Methods
3.1. Research Design
3.2. Phase 1: Qualitative Study
3.3. Phase 2: Quantitative Study
3.3.1. The Population and Sample Design
3.3.2. Data Collection Procedure
3.4. Measurement of Constructs
| Type | Construct (Full name) | Theory base | Primary source(s) | No. of items | Example item wording (abbrev.) |
| Independent (HOC: Travel Intention) | Travel Self-Efficacy | TPB (Perceived behavioral control/self-efficacy) |
(Bandura, 1997; Chen & Tung, 2014) |
4 | I can organize a leisure trip. |
| Independent (HOC: Travel Intention) | Social Influence Pressure | TPB (Subjective norms) | (Ajzen, 1991; Lam & Hsu, 2004) |
4 | Friends’ travel posts influence my choices. |
| Independent (HOC: Travel Intention) | Experience Value | TPB (Behavioral beliefs) | (Choe & Kim, 2019; Pine & Gilmore, 1998) |
4 | I prefer unique and meaningful destinations. |
| Independent (HOC: Travel Intention) | Perceived Affordability | TPB (Control beliefs) | (Choe & Kim, 2019) | 4 | Traveling for relaxation is affordable for me. |
| Independent (HOC: Travel Intention) | Attitude Toward Tourism (for wellbeing) | TPB (Attitude) | (Ajzen, 1991) | 4 | I feel positive about traveling for health. |
| Mediator | Travel Involvement | Engagement/Involvement perspective in leisure/tourism | (Havitz & Dimanche, 1997; Kyle & Chick, 2002) | 4 | I am highly involved in planning trips. |
| Mediator | Social Connectedness | Interpersonal connectedness/relatedness mechanism |
(Lee et al., 2001; Lee & Robbins, 1995) |
4 | Travel helps me feel connected to others. |
| Moderator | Nature Connectedness | SRT (Person–environment interaction) | (Mayer et al., 2009; Nisbet et al., 2009) | 4 | I feel emotionally connected to nature. |
| Dependent (HOC: Student Mental Health) | Stress Reduction | SRT (Stress recovery) | (Cohen et al., 1983) | 4 | Traveling reduces my stress. |
| Dependent (HOC: Student Mental Health) | Psychological Wellbeing | SRT (Positive outcomes) | (Sirgy, 2010; Tennant et al., 2007) | 4 | Travel improves my overall wellbeing. |
3.5. Analysis Procedure
3.6. Common Method Bias
3.7. Ethical Considerations
4. Results
4.1. Thematic Analyses (Qualitative analysis)
| Theme | Subtheme | Description | Example Quotes (Student Codes) |
| Travel Self-Efficacy (TPB) | Strong Confidence | Confidence in planning and organizing travel. | I am quite confident to deal with the travel logistics independently. (S1) I like the way of planning everything, flight booking, and activity selection. (S2) |
| Weak Confidence | Challenges faced in managing the planning process. | I usually get stressed when I would plan everything including accommodation and transport. (S3) Budgeting is a problem to me. I do not necessarily know how to budget the budget of a trip. (S4) |
|
| Social Influence Pressure (TPB) | Peer Encouragement | Influence of peers on travel decisions. | My friends are the ones who urge me to travel. They send me frequently links to journeys, and attempt to induce me to accompany them. (S5) I would be motivated when my friends discuss their trips, and make me want to go with them. (S6) |
| Peer Pressure | Feeling pressured to travel, especially when friends have already planned. | I am sometimes pressured by my friends that are extremely spontaneous regarding traveling. (S7) When my friends already have a plan I think I should go in with them even though I am not certain. (S8) |
|
| Experience Value (TPB) | Memorable Experiences | Travel experiences that create lasting memories. | The best experience was when I went to a small town with my friends and we explored a whole day hiking and enjoying the nature. (S9) The most valuable experiences I have in traveling are always related to nature or new culture. (S10) |
| Seeking Adventure | Preference for adventure travel. | "I enjoy adventure travel. Its uniqueness is the excitement of discovering new destinations and experimenting with new things. (S11) I prefer activities that are physically and mentally demanding such as hiking or visiting historical sites. (S12) |
|
| Perceived Affordability (TPB) | Financial Limitations | Financial constraints that limit travel options. | I am always concerned with budgeting. I seek cheap destinations, which will not empty my pockets. (S13) I tend to go to places that are not far and do not force me to use costly accommodation. (S14) |
| Affordable Travel Options | Choosing destinations and activities within budget. | I like places where I will be offered student discounts or where I can get cheap accommodation such as hostels. (S15) I usually do off-season traveling to evade an increase in costs and to seek better offers. (S1) |
|
| Attitude Toward Tourism for Wellbeing (SRT) | Stress Relief | Perception of travel as a means to reduce stress. | Travelling is among the most effective methods of stress relief. It makes me forget about the pressure associated with the university and allows me to take a break. (S2) I always come back to myself in a better mood, physically. It’s like a reset for my mind." (S3) |
| Self-Care | Travel as an act of self-care for mental health. | Tourism is a form of resetting with emotions to me. It is like having a moment of no longer being stressed with academic life and re-connecting with myself. (S4) Travel gives me a platform to reflect on my life which is a great aspect to the state of my mental health. (S5) |
|
| Travel Involvement (SRT) | Planning Engagement | Involvement in planning and decision-making for travel. | I am a very serious trip planner, in particular in finding out more about the destination and the activities. (S6) I like to look up the top places to visit and consider all the details of the trip. (S7) |
| Active Participation | The excitement and connection from being actively involved in planning. | The deeper I am into the planning process, the more excited I become about the trip. (S8) I think I am closer to the trip when I am personally involved in it organization. (S9) |
|
| Social Connectedness (SRT) | Strengthened Relationships | Travel enhancing bonds and relationships with peers. | Travel gives me a stronger friendship and family ties. We have something in common like experience and new adventures. (S10) Spending time with the friends when traveling brings in memorable life moments and strengthening our connections. (S11) |
| Peer Bonding | Feeling connected and bonded with friends during travel. | I like being very close to my friends whenever we are traveling. It is a good method to have quality time. (S12) It is always a unique thing to have some experiences and difficulties traveling with your best friends. (S13) |
|
| Perceived Restorativeness (SRT) | Environmental Restoration | The ability of new environments to restore mental well-being. | I re-adjust my psychological condition through being in nature, not in the city. It’s like I can breathe again." (S14) I get rejuvenated when I am in serene settings such as forests or around the sea. (S15) |
| Mental Clarity | Feeling clearer and more focused after a trip. | I will feel better after having been in nature. It assists me to be concentrated on what matters. (S1) Travel gives me the ability to relax my mind. I find myself in a position to concentrate more on the studies after a trip. (S2) |
|
| Stress Reduction (SRT) | Escaping Academic Pressure | Travel as an escape from the stress of university life. | I like to get away from the deadlines and assignments that are taking up the pressure, and the answer to this is traveling. (S3) I can also feel that I was able to take a break after I come back after a trip and can better concentrate on schoolwork. (S4) |
| Mental Recovery | How travel contributes to mental recovery and relaxation. | Burnout is relieved by making short visits to quiet places. I return in a rejuvenated mood. (S5) My travel stress is also minimized by the physical activity during the movement process such as hiking which makes me feel better. (S6) |
|
| Psychological Wellbeing (SRT) | Improved Mood | How travel contributes to emotional balance and happiness. | I like to travel because it cheers me up, particularly when I am in the natural setting or where I can relax. (S7) I always feel even happier and inspired after traveling, but in particular, when I am with my dearest people. (S8) |
| Emotional Balance | The restoration of emotional balance and clarity after travel. | I have noticed that after a trip I feel more at ease and positive about the future. (S9) Travel makes me emotionally balanced and clear. It makes me feel refreshed when I come back. (S10) |
|
| Nature Connectedness (Moderator) | Sense of Calmness | The calming effect of nature on mental wellbeing. | I feel the soothing influence of nature. The images, sounds and smells of the outdoor environment make me feel more calm and comfortable. (S11) Being in nature enables me to forget everything and concentrate on the present. (S12) |
| Travel Frequency (Moderator) | Impact on Stress | How frequent travel helps students cope with stress. | I travel a lot and this travel has enabled me to cope with stress. It provides me with a healthy outlet of recharging and forgetting the academic pressure. (S13) I also travel more now, since it makes me cope with stress and feel more balanced. (S14) |
4.2. Matrix Coding
| Themes | Travel Self-Efficacy | Social Influence Pressure | Experience Value | Perceived Affordability | Attitude Toward Tourism | Social Connectedness | Travel Involvement | Nature Connectedness | Stress Reduction | Psychological Wellbeing |
| Travel Self-Efficacy | 1 | 1 | 1 | 0 | 1 | 0 | 1 | 0 | 1 | 1 |
| Social Influence Pressure | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 |
| Experience Value | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 |
| Perceived Affordability | 1 | 1 | 1 | 1 | 0 | 0 | 1 | 0 | 1 | 0 |
| Attitude Toward Tourism | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 |
| Social Connectedness | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Travel Involvement | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 0 | 1 | 1 |
| Nature Connectedness | 0 | 0 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Stress Reduction | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Psychological Wellbeing | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
4.3. Word Frequency Analysis
| Word | Frequency | Example Context |
| Travel | 20 | "I feel very confident about handling travel logistics on my own." |
| Stress | 18 | "Stress reduction is one of the main benefits of taking a trip." |
| Wellbeing | 14 | "I believe wellbeing is a result of both travel and social interaction." |
| Relax | 15 | "Travel helps me relax and unwind from the constant pressure of university." |
| Nature | 13 | "Nature plays a big role in helping me feel restored and mentally clear." |
| Confidence | 11 | "I feel a lot of confidence in planning my trips, especially when I have enough time." |
| Social | 10 | "I feel connected to others when we travel together, which contributes to my social wellbeing." |
| Recharged | 8 | "I always come back feeling recharged and ready to tackle my responsibilities." |
| Experience | 7 | "The experience of traveling to new places helps me grow emotionally." |
4.4. Connectedness Diagram

4.5. Qualitative Comparative Analysis (QCA)
| Travel Self-Efficacy | Social Influence Pressure | Experience Value | Perceived Affordability | Attitude Toward Tourism | Social Connectedness | Travel Involvement | Nature Connectedness | Stress Reduction | Psychological Wellbeing |
| 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 0 |
| 1 | 0 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 |
| 0 | 1 | 0 | 1 | 1 | 1 | 0 | 0 | 0 | 0 |
| 1 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 1 |
| 0 | 0 | 1 | 1 | 0 | 1 | 1 | 0 | 1 | 1 |
| 1 | 1 | 1 | 0 | 1 | 1 | 0 | 1 | 1 | 1 |
| 0 | 0 | 1 | 1 | 0 | 1 | 0 | 1 | 1 | 1 |
| 1 | 1 | 0 | 0 | 1 | 0 | 0 | 1 | 0 | 0 |
| 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
4.5. Measurement Model

| Constructs | Items | Factor loadings | Cronbach’s alpha | Rho_A | Composite reliability | AVE | VIF |
| Attitude toward tourism | ATW1 | 0.876 | 0.910 | 0.911 | 0.937 | 0.788 | 2.536 |
| ATW2 | 0.883 | 2.698 | |||||
| ATW3 | 0.906 | 3.136 | |||||
| ATW4 | 0.886 | 2.803 | |||||
| Experience value | EV1 | 0.851 | 0.851 | 0.854 | 0.900 | 0.691 | 2.045 |
| EV2 | 0.787 | 1.707 | |||||
| EV3 | 0.835 | 1.972 | |||||
| EV4 | 0.851 | 2.105 | |||||
| Nature connectedness | NC1 | 0.897 | 0.880 | 0.880 | 0.926 | 0.806 | 2.349 |
| NC2 | 0.901 | 2.516 | |||||
| NC3 | 0.895 | 2.433 | |||||
| Perceived affordability | PA1 | 0.815 | 0.686 | 0.688 | 0.827 | 0.614 | 1.418 |
| PA2 | 0.772 | 1.371 | |||||
| PA3 | 0.763 | 1.259 | |||||
| Psychological wellbeing | PW1 | 0.867 | 0.885 | 0.886 | 0.921 | 0.744 | 2.290 |
| PW2 | 0.858 | 2.265 | |||||
| PW3 | 0.879 | 2.544 | |||||
| PW4 | 0.845 | 2.118 | |||||
| Social connectedness | SC1 | 0.835 | 0.864 | 0.864 | 0.907 | 0.710 | 1.936 |
| SC2 | 0.852 | 2.145 | |||||
| SC3 | 0.845 | 2.075 | |||||
| SC4 | 0.838 | 2.006 | |||||
| Social influence pressure | SIP1 | 0.833 | 0.568 | 0.617 | 0.775 | 0.541 | 1.306 |
| SIP2 | 0.790 | 1.288 | |||||
| SIP3 | 0.553 | 1.077 | |||||
| Stress reduction | SR1 | 0.869 | 0.890 | 0.893 | 0.924 | 0.752 | 2.418 |
| SR2 | 0.837 | 2.207 | |||||
| SR3 | 0.882 | 2.610 | |||||
| SR4 | 0.879 | 2.582 | |||||
| Travel frequency | TF1 | 0.839 | 0.846 | 0.850 | 0.896 | 0.683 | 1.929 |
| TF2 | 0.851 | 2.156 | |||||
| TF3 | 0.802 | 1.736 | |||||
| TF4 | 0.813 | 1.948 | |||||
| Travel involvement | TI1 | 0.757 | 0.811 | 0.814 | 0.876 | 0.639 | 1.851 |
| TI2 | 0.824 | 1.872 | |||||
| TI3 | 0.845 | 2.003 | |||||
| TI4 | 0.769 | 1.567 | |||||
| Travel self-efficacy | TSE1 | 0.836 | 0.825 | 0.828 | 0.884 | 0.655 | 1.847 |
| TSE2 | 0.790 | 1.675 | |||||
| TSE3 | 0.810 | 1.704 | |||||
| TSE4 | 0.801 | 1.744 |
| ATW | EV | NC | PA | PW | SC | SIP | SR | TF | TI | TSE | |
| ATW | 0.888 | ||||||||||
| EV | 0.683 | 0.832 | |||||||||
| NC | 0.714 | 0.648 | 0.898 | ||||||||
| PA | 0.576 | 0.601 | 0.539 | 0.784 | |||||||
| PW | 0.730 | 0.622 | 0.715 | 0.542 | 0.862 | ||||||
| SC | 0.708 | 0.610 | 0.617 | 0.523 | 0.682 | 0.843 | |||||
| SIP | 0.451 | 0.523 | 0.401 | 0.457 | 0.434 | 0.477 | 0.736 | ||||
| SR | 0.781 | 0.623 | 0.697 | 0.568 | 0.771 | 0.694 | 0.420 | 0.867 | |||
| TF | 0.330 | 0.253 | 0.318 | 0.333 | 0.361 | 0.333 | 0.350 | 0.364 | 0.827 | ||
| TI | 0.660 | 0.652 | 0.635 | 0.589 | 0.631 | 0.609 | 0.454 | 0.641 | 0.390 | 0.799 | |
| TSE | 0.397 | 0.475 | 0.405 | 0.427 | 0.405 | 0.379 | 0.358 | 0.416 | 0.418 | 0.513 | 0.809 |
| ATW | EV | NC | PA | PW | SC | SIP | SR | TF | TI | TSE | |
| ATW | |||||||||||
| EV | 0.773 | ||||||||||
| NC | 0.796 | 0.747 | |||||||||
| PA | 0.727 | 0.784 | 0.691 | ||||||||
| PW | 0.811 | 0.717 | 0.808 | 0.694 | |||||||
| SC | 0.799 | 0.710 | 0.707 | 0.679 | 0.779 | ||||||
| SIP | 0.608 | 0.725 | 0.550 | 0.708 | 0.592 | 0.667 | |||||
| SR | 0.865 | 0.712 | 0.784 | 0.725 | 0.867 | 0.790 | 0.573 | ||||
| TF | 0.373 | 0.297 | 0.364 | 0.430 | 0.412 | 0.387 | 0.520 | 0.416 | |||
| TI | 0.767 | 0.782 | 0.749 | 0.788 | 0.743 | 0.728 | 0.664 | 0.751 | 0.470 | ||
| TSE | 0.455 | 0.564 | 0.474 | 0.563 | 0.471 | 0.447 | 0.529 | 0.482 | 0.500 | 0.627 |
| ATW | EV | NC | PA | PW | SC | SIP | SR | TF | TI | TSE | |
| ATW1 | 0.876 | 0.645 | 0.663 | 0.512 | 0.645 | 0.615 | 0.437 | 0.705 | 0.278 | 0.591 | 0.373 |
| ATW2 | 0.883 | 0.575 | 0.612 | 0.489 | 0.628 | 0.634 | 0.367 | 0.680 | 0.272 | 0.597 | 0.331 |
| ATW3 | 0.906 | 0.623 | 0.646 | 0.527 | 0.675 | 0.640 | 0.433 | 0.703 | 0.308 | 0.577 | 0.355 |
| ATW4 | 0.886 | 0.578 | 0.611 | 0.516 | 0.643 | 0.626 | 0.360 | 0.684 | 0.313 | 0.579 | 0.349 |
| EV1 | 0.604 | 0.851 | 0.565 | 0.541 | 0.513 | 0.535 | 0.474 | 0.553 | 0.218 | 0.535 | 0.438 |
| EV2 | 0.499 | 0.787 | 0.464 | 0.451 | 0.511 | 0.466 | 0.393 | 0.459 | 0.233 | 0.508 | 0.337 |
| EV3 | 0.585 | 0.835 | 0.558 | 0.500 | 0.509 | 0.507 | 0.424 | 0.530 | 0.191 | 0.579 | 0.398 |
| EV4 | 0.577 | 0.851 | 0.560 | 0.504 | 0.538 | 0.516 | 0.444 | 0.525 | 0.201 | 0.545 | 0.401 |
| NC1 | 0.655 | 0.573 | 0.897 | 0.505 | 0.676 | 0.585 | 0.371 | 0.634 | 0.324 | 0.594 | 0.407 |
| NC2 | 0.649 | 0.578 | 0.901 | 0.474 | 0.633 | 0.533 | 0.341 | 0.625 | 0.276 | 0.561 | 0.337 |
| NC3 | 0.617 | 0.593 | 0.895 | 0.469 | 0.615 | 0.543 | 0.367 | 0.616 | 0.255 | 0.553 | 0.345 |
| PA1 | 0.484 | 0.521 | 0.485 | 0.815 | 0.444 | 0.414 | 0.392 | 0.476 | 0.240 | 0.510 | 0.306 |
| PA2 | 0.425 | 0.437 | 0.400 | 0.772 | 0.405 | 0.405 | 0.305 | 0.413 | 0.189 | 0.441 | 0.293 |
| PA3 | 0.442 | 0.452 | 0.378 | 0.763 | 0.422 | 0.411 | 0.371 | 0.442 | 0.347 | 0.429 | 0.402 |
| PA4 | 0.374 | 0.386 | 0.322 | 0.415 | 0.362 | 0.370 | 0.344 | 0.382 | 0.375 | 0.439 | 0.391 |
| PW1 | 0.692 | 0.560 | 0.675 | 0.484 | 0.867 | 0.606 | 0.397 | 0.687 | 0.336 | 0.564 | 0.381 |
| PW2 | 0.598 | 0.518 | 0.587 | 0.458 | 0.858 | 0.605 | 0.347 | 0.641 | 0.280 | 0.530 | 0.336 |
| PW3 | 0.611 | 0.544 | 0.613 | 0.489 | 0.879 | 0.573 | 0.373 | 0.668 | 0.320 | 0.538 | 0.338 |
| PW4 | 0.613 | 0.523 | 0.587 | 0.435 | 0.845 | 0.568 | 0.375 | 0.661 | 0.307 | 0.543 | 0.340 |
| SC1 | 0.618 | 0.541 | 0.531 | 0.457 | 0.560 | 0.835 | 0.423 | 0.581 | 0.239 | 0.529 | 0.318 |
| SC2 | 0.601 | 0.483 | 0.512 | 0.434 | 0.577 | 0.852 | 0.406 | 0.585 | 0.295 | 0.530 | 0.305 |
| SC3 | 0.569 | 0.512 | 0.514 | 0.440 | 0.590 | 0.845 | 0.396 | 0.573 | 0.305 | 0.522 | 0.352 |
| SC4 | 0.599 | 0.519 | 0.525 | 0.431 | 0.572 | 0.838 | 0.382 | 0.599 | 0.285 | 0.473 | 0.302 |
| SIP1 | 0.415 | 0.478 | 0.356 | 0.399 | 0.399 | 0.418 | 0.833 | 0.384 | 0.264 | 0.398 | 0.282 |
| SIP2 | 0.338 | 0.410 | 0.321 | 0.372 | 0.331 | 0.371 | 0.790 | 0.312 | 0.240 | 0.333 | 0.256 |
| SIP3 | 0.210 | 0.223 | 0.179 | 0.205 | 0.194 | 0.238 | 0.553 | 0.207 | 0.294 | 0.257 | 0.263 |
| SIP4 | 0.082 | 0.113 | 0.083 | 0.144 | 0.099 | 0.104 | 0.326 | 0.113 | 0.264 | 0.160 | 0.205 |
| SR1 | 0.740 | 0.601 | 0.669 | 0.511 | 0.666 | 0.623 | 0.430 | 0.869 | 0.327 | 0.600 | 0.393 |
| SR2 | 0.620 | 0.510 | 0.533 | 0.477 | 0.616 | 0.537 | 0.285 | 0.837 | 0.306 | 0.534 | 0.334 |
| SR3 | 0.669 | 0.545 | 0.618 | 0.504 | 0.701 | 0.590 | 0.393 | 0.882 | 0.321 | 0.553 | 0.366 |
| SR4 | 0.672 | 0.499 | 0.586 | 0.475 | 0.687 | 0.651 | 0.339 | 0.879 | 0.306 | 0.530 | 0.347 |
| TF1 | 0.301 | 0.219 | 0.305 | 0.329 | 0.354 | 0.313 | 0.327 | 0.326 | 0.839 | 0.360 | 0.354 |
| TF2 | 0.255 | 0.222 | 0.260 | 0.277 | 0.303 | 0.292 | 0.311 | 0.324 | 0.851 | 0.321 | 0.349 |
| TF3 | 0.305 | 0.219 | 0.282 | 0.247 | 0.284 | 0.248 | 0.254 | 0.299 | 0.802 | 0.314 | 0.361 |
| TF4 | 0.222 | 0.170 | 0.194 | 0.238 | 0.238 | 0.240 | 0.258 | 0.244 | 0.813 | 0.286 | 0.314 |
| TI1 | 0.479 | 0.527 | 0.503 | 0.482 | 0.501 | 0.514 | 0.389 | 0.496 | 0.327 | 0.757 | 0.424 |
| TI2 | 0.591 | 0.541 | 0.528 | 0.482 | 0.501 | 0.492 | 0.376 | 0.535 | 0.261 | 0.824 | 0.353 |
| TI3 | 0.562 | 0.569 | 0.555 | 0.482 | 0.557 | 0.496 | 0.337 | 0.549 | 0.315 | 0.845 | 0.438 |
| TI4 | 0.472 | 0.440 | 0.437 | 0.434 | 0.453 | 0.446 | 0.352 | 0.465 | 0.349 | 0.769 | 0.429 |
| TSE1 | 0.349 | 0.412 | 0.338 | 0.409 | 0.347 | 0.336 | 0.337 | 0.357 | 0.350 | 0.453 | 0.836 |
| TSE2 | 0.314 | 0.353 | 0.317 | 0.296 | 0.290 | 0.292 | 0.259 | 0.290 | 0.332 | 0.386 | 0.790 |
| TSE3 | 0.357 | 0.406 | 0.356 | 0.346 | 0.372 | 0.321 | 0.296 | 0.393 | 0.327 | 0.425 | 0.810 |
| TSE4 | 0.259 | 0.362 | 0.297 | 0.323 | 0.296 | 0.274 | 0.261 | 0.301 | 0.346 | 0.391 | 0.801 |
| HOC | LOC | Outer weights | Outer loadings | VIF |
| TIS | ATW | 0.339 | 0.848 | 2.061 |
| EV | 0.292 | 0.869 | 2.387 | |
| PA | 0.252 | 0.795 | 1.802 | |
| SIP | 0.203 | 0.690 | 1.468 | |
| TSE | 0.185 | 0.639 | 1.365 | |
| SMH | PW | 0.583 | 0.952 | 2.463 |
| SR | 0.479 | 0.928 | 2.463 |
| R-square | R-square adjusted | |
| PW | 0.589 | 0.589 |
| SMH | 1.000 | 1.000 |
| SR | 0.625 | 0.624 |
| TI | 0.575 | 0.574 |
| TIS | 0.996 | 0.996 |
| ATW | EV | NC | PA | PW | SC | SIP | SMH | SR | TF | TI | TIS | TSE | |
| ATW | 15.244 | ||||||||||||
| EV | 9.848 | ||||||||||||
| NC | 0.056 | ||||||||||||
| PA | 5.192 | ||||||||||||
| SC | 61.335 | ||||||||||||
| SIP | 3.739 | ||||||||||||
| SMH | 1.435 | 1.664 | |||||||||||
| TF | 0.036 | ||||||||||||
| TI | 37.465 | ||||||||||||
| TIS | 283.454 | 1.353 | |||||||||||
| TSE | 10.341 |

| Hypothesis | Relation | Beta value (β) | SD | T statistics | P values | Results |
| H1 | TIS -> SMH | 0.125 | 0.029 | 4.319 | 0.000 | Supported |
| H2 | TIS -> TI | 0.736 | 0.029 | 25.478 | 0.000 | Supported |
| H3 | TI -> SMH | 0.075 | 0.020 | 3.719 | 0.000 | Supported |
| H4 | TIS -> SC | 0.716 | 0.030 | 23.561 | 0.000 | Supported |
| H5 | SC -> SMH | 0.076 | 0.019 | 3.917 | 0.000 | Supported |
| H6 | NC x TIS -> SMH | 0.024 | 0.012 | 2.098 | 0.036 | Supported |
| H7 | TF x TIS -> SMH | -0.032 | 0.012 | 2.659 | 0.008 | Supported |
| Hypothesis | Relation | Beta value (β) | SD | T statistics | P values | Results |
| H8 | TIS -> TI -> SMH | 0.055 | 0.016 | 3.586 | 0.000 | Supported |
| H9 | TIS -> SC -> SMH | 0.055 | 0.014 | 3.800 | 0.000 | Supported |
5. Discussion
5. Conclusion
6. Recommendation
6.1. Practical Implications
6.2. Theoretical Implication
7. Limitations and Future Direction of the study
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Acknowledgments
Conflicts of Interest
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