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explain more than half of the variance in their respective indicators. The detailed results
are presented in Table 2.
Table 2. Cronbach's Alpha, Composite reliability and AVE results

Average variance extracted
Cronbach's alpha Composite reliability (CR)
(AVE)
IR 0.842 0.896 0.684
PAN 0.777 0.869 0.689

PAU 0.831 0.888 0.664

PDR 0.895 0.927 0.761
RI 0.798 0.869 0.624
Source: Authors’ own work (2026)
Discriminant Validity
Discriminant validity was assessed using both the Fornell-Larcker Criterion and the
Heterotrait-Monotrait Ratio (HTMT). First, according to the Fornell-Larcker criterion, the
square root of the AVE for each construct (diagonal elements) should be higher than its
correlation with any other construct. The results confirmed that this condition was met
for all constructs (Table 3).
Second, the HTMT ratio was examined. While Henseler et al. (2015) suggest a
conservative threshold of 0.85, values up to 0.90 are theoretically acceptable for
conceptually similar constructs. In this study, HTMT values ranged from 0.195 to
0.811,indicating that discriminant validity has been established (See in Table 4).
Table 3. Fornell-Larcker Criterion
IR PAN PAU PDR RI

IR 0.827
PAN 0.411 0.830

PAU 0.398 0.663 0.815
PDR 0.345 0.272 0.246 0.872

RI 0.358 0.161 0.223 0.437 0.790
Source: Authors’ own work (2026)
Table 4. Heterotrait-monotrait ratio (HTMT)
IR PAN PAU PDR RI

IR
PAN 0.494

PAU 0.470 0.811

PDR 0.402 0.324 0.289
RI 0.439 0.195 0.272 0.516

Source: Authors’ own work (2026)
3.3. Structural Model Assessment
The structural model was assessed based on the coefficient of determination (R²)
and the predictive capability of the model (Q²), following the recommendations of Hair et

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