Does Perceived Risk Mediate Affect and Foreign Product Purchase?


  • Dian Eka Mayasari
  • Bayu Sutikno


This paper examinesthe triangular relationship between perceived risk, affect toward foreign country (affinity and animosity) and intention to buy product from those affinity/animosity country.The 307 questionnaires from internet survey toward the citizens of five big cities in Indonesia were retained for data analysis using Baron and Kenny mediation analysis and Structural Equation Model.Result suggestsperceived risk plays mediation role for both positive and negative affect toward foreign country and consumer intention.This paper also shows that consumer may simultaneously experiences both positive and negative affect. The paper offers unique insight about affect heuristic in Country of Origin study, abouthow consumer apprehends risk toward foreign country while their affective component takes place.This study result shows that affect study is also relevant in contexts of non-durable product.


Mitchell, Vincent-Wayne (1999), Consumer Perceived Risk: Conceptualizations and Models, European Journal of Marketing, Vol. 33, pp. 163–95.

Slovic, P., Finucane, M.L., Peters, E., & MacGregor, D.G. (2004). Risk as analysis and risk as feelings: Some Thoughts about Affect, Reason, Risk, and Rationality. Risk Analysis, Vol. 24 No. 2, pp.1-12.

Finucane, M.L., Alhakami, A., Slovic, P. and Johnson, S.M. (2000). The Affect Heuristic in Judgments of Risks and Benefits. Journal of Behavioral Decision Making. Vol. 13, pp 1-17.

Wongtada, Nittaya., Gillian Rice, & Subir K. Bandyopadhyay, (2012), Developing and Validating Affinity: A New Scale to Measure Consumer Affinity toward Foreign Countries, Journal of International Consumer Marketing, Vol. 24, pp. 147–167.

Conchar, M.P., Zinkhan, G.M., Peters, C. and Olavarrieta, S. (2004), An integrated framework for the conceptualization of consumers’ perceived-risk processing, Journal of the Academy of Marketing Science, Vol. 32 No. 4, pp. 418-36.

Bauer, R.A. (1967), Consumer behavior as risk taking, in Cox, D.F. (Ed.), Risk Taking and Information Handling in Consumer Behavior, Harvard University Press, Boston, MA, pp. 23-33.

Sönmez SF, Graefe AR. 1998. Influence of terrorism risk on foreign tourism decision. Annals of Tourism Research. Vol25 No. 1, pp. 112–144.

Alhakami, A.S., & Slovic, P. (1994). A psychological study of the inverse relationship between perceived risk and perceived benefit.Risk Analysis Vol 14, pp. 1085–1096.

Zajonc, R. B. (1980). 'Feeling and thinking: preferences need no inferences', American Psychologist, Vol. 35, pp. 151-175.

Klein, Jill G., Richard Ettenson, and Marlene D. Morris (1998), The Animosity Model of Foreign Product Purchase: An Empirical Test in the People’s Republic of China, Journal of Marketing, Vol. 62,

Sutikno, Bayu and J.M. Cheng (2010), Reexamination of Consumer Animosity-construct Toward Multi Opposed Countries, Proceeding on 10th Global Conference on Business & Economics, Rome, Italy.

Oberecker, Eva M., Petra Riefler, and Adamantios Diamantopoulos (2008) The Consumer Affinity Construct: conceptualization, Qualitative Investigation, and Research Agenda, Journal of International Marketing, Vol. 16 No. 3, 23–56.

Vida, Irena and James Reardon (2008), Domestic Consumption: Rational, Affective, or Normative Choice? Journal of Consumer Marketing, Vol. 25 No. 1, 34–44.

Oberecker, Eva M., and Adamantios Diamantopoulos (2011) Consumers’ Emotional Bonds with Foreign Countries: Does Consumer Affinity Affect Behavioral Intentions?Journal of International Marketing, Vol.19 No.2. pp. 45–72.

Brown, Steven P., Pamela M. Homer, and J. Jeffrey Inman (1998), A Meta-analysis of Relationships between Ad-Evoked Feelings and Advertising Responses, Journal of Marketing Research, Vol. 35

Diener, Ed, and Robert A. Emmons (1984), The Independence of Positive and Negative Affect, Journal of Personality and Social Psychology, Vol Al No. 5, pp. 1105-1117.

Jaffe, E. D and Nebenzahl, I. D. (2001): National Image and Competitive Advantage – The Theory and Practice of Country-of-Origin Effect. Copenhagen: Copenhagen Business School Press.

Burke, Marian Chapman & Julie A. Edell (1986), Ad Reactions over Time: Capturing Changes in the Real World, Journal of Consumer Research, Vol. 13, pp. 114-118.

Murry, John P., Jr., & Peter A. Dacin (1996), Cognitive Moderators of Negative-Emotion Effects: Implications for Understanding Media Context, Journal of Consumer Research, Vol. 22, pp. 439-448.

Keller, Punam Anand, Isaac M. Lipkus, & Barbara K. Rimer (2003), Affect, Framing, and Persuasion. Jurnal of Marketing Research, Vol. XL, pp, 54-64.

Riefler, Petra and Adamantios Diamantopoulos (2007), Consumer animosity: a literature review and a reconsideration of its measurement. International Marketing Review .Vol. 24 No. 1, 2007 pp. 87-119

Hair, Jr., J. F., Black, W. C., Babin, B. J., Anderson, R. E., & Tatham, R. L. (2010). Multivariate Data Analysis (7th ed.). Upper Saddle River, NJ: Pearson Prentice Hall.

Batra, Rajeev and Morris B. Holbrook (1990), Developing a Typology of Affective Responses to Advertising, Psychology and Marketing, Vol.7, No.1, 11–25.

Festinger, L. (1957). A Theory of Cognitive Dissonance. Stanford, CA: Stanford University Pres

Baron, Reuben. M. and David A. Kenny (1986), The moderator-mediator variable distinction in docial psychological research: Conceptual, strategic and statistical considerations. Journal of Personality and Social Psychology. Vol 51. No.6, pp. 1173-1182.


How to Cite

Mayasari, D. E., & Sutikno, B. (2015). Does Perceived Risk Mediate Affect and Foreign Product Purchase?. Asian Journal of Business and Management, 3(4). Retrieved from