The Impact of Psychological Pricing on Students’ Perceptions of Higher Education Value: Managerial Insights for Institutions

Figures & Tables

Model	Unstandardized coefficients (B)		Standardised coefficients (Beta)	t	Sig.	Collinearity statistics
Model	B	Std. Error	Beta	t	Sig.	Tolerance	VIF
(Constant)	0.167	0.083	-	2.012	0.045	-	-
Academic quality	0.393	0.034	0.344	11.416	0.000	0.392	2.548
Institution’s reputation	0.498	0.027	0.540	18.533	0.000	0.421	2.376
Post-graduation employability	0.053	0.023	0.059	2.303	0.022	0.541	1.849

Hypothesis	Conclusion
H1: The tuition fee significantly influences the perceived academic quality.	Confirmed
H2: The tuition fee significantly influences the perceived reputation of the institution	Confirmed
H3: The tuition fee significantly influences the perception of post-graduation employability.	Confirmed

Item	Value
Kaiser-Meyer-Olkin (KMO) Index	0.852
Bartlett’s Test of Sphericity	1219.222
Degrees of Freedom (df)	10
Significance (Sig.)	0.000
Cronbach’s Alpha (α)	α = 0.838

Item	Value
Kaiser-Meyer-Olkin (KMO) Index	0.806
Bartlett’s Test of Sphericity	924.982
Degrees of Freedom (df)	6
Significance (Sig.)	0.000
Cronbach’s Alpha (α)	α = 0.820

Item	Value
Kaiser-Meyer-Olkin (KMO) Index	0.708
Bartlett’s Test of Sphericity	631.310
Degrees of Freedom (df)	3
Significance (Sig.)	0.000
Cronbach’s Alpha (α)	α = 0.797

Model	R	R-squared	Adjusted R-squared	Standard error
Model 1	0.782^a	0.612	0.612	0.886
Model 2	0.868^b	0.753	0.752	0.708
Model 3	0.869^c	0.755	0.753	0.706

Variables	VIF (Variance inflation factor)
Academic quality	2.548
Institutional reputation	2.376
Post-graduation employability	1.849

Demographic variable	Item	Frequency	Percentage (%)
Gender	Female	369	53%
Gender	Male	322	47%
Age	18 to 24 years	331	47%
	25 to 34 years	279	40%
	35 to 44 years	69	9%
	45 to 54 years	8	2%
	55 to 64 years	4	1%
Field of study	Exact and Technical Sciences	56	8,5%
	Humanities and Social Sciences	50	7,5%
	Business and Economics	52	7,5%
	Law and Political Science	60	8,5%
	Medicine and Health	50	7,5%
	Engineering and Technology	48	6%
	Education Sciences	52	7,5%
	Arts and Letters	53	7,5%
	Agricultural Sciences and Techniques	56	8,5%
	Pharmacy and Pharmaceutical Sciences	49	7,5%
	Architecture and Urban Planning	53	7,5%
	Languages and Foreign Cultures	52	7,5%
	Fundamental and Applied Sciences	60	8,5%
Degree obtained	Baccalaureate	162	24%
	Bac+2 (Associate Degree)	229	33%
	Bac+3 (Bachelor’s Degree)	243	35%
	Bac+5 (Master’s Degree)	57	8%
	Bac+8 (Doctorate)	0	0%

Variable	Source	Item
Perception of tuition fees	Chang and Wildt (1994)	The cost of my studies causes me stress.
		I feel guilty about spending so much on my education.
		The amount of tuition fees affects my satisfaction with the education.
		I am concerned about financing my studies due to the cost.
		The costs associated with my studies make me feel that access to education is reserved for the elite.
Perceived teaching quality	Kember et al. (2000)	The instructors are well-prepared and organised for the courses.
		The instructors can communicate the content clearly.
		The instructors encourage active student participation.
		The teaching methods used are varied and adapted to students’ needs.
Perceived institutional reputation	Fombrun (1996)	This institution is known for the quality of its teaching.
		The institution is well-regarded in its academic field.
		This institution is considered a leader in higher education.
Perceived employability	Fugate et al. (2004)	I believe the skills acquired during my studies will help me find a job.
		I am confident in my ability to adapt my skills to the demands of the job market.
		I am confident in my job prospects after graduation.
		I believe I will be able to find a job related to my field of study.

Item	Value
Kaiser-Meyer-Olkin (KMO) Index	0.828
Bartlett’s Test of Sphericity	1380.861
Degrees of Freedom (df)	6
Significance (Sig.)	0.000
Cronbach’s Alpha (α)	α = 0.873