本研究旨在探討休閒動機、遊客價值、滿意度與忠誠度之影響關係；採用Next to Pass抽樣法對活動參與者進行問卷調查，回收有效問卷共625份，有效問卷回收率為83.3%。應用SEM進行研究分析，研究結果發現，整體模型適配度良好，各構面間存在直接與間接之影響關係，而變項間具有顯著相關。（1）休閒動機對遊客價值與滿意度具有顯著影響。（2）休閒動機對忠誠度無顯著影響關係；進而推論，休閒動機無法直接影響忠誠度，可能是活動參與者在產生明確的休閒動機時，尚未於現地體驗，無法對活動直接產生忠誠度，而需透過活動參與後的滿意度才會產生忠誠度。（3）遊客價值對滿意度有顯著影響。（4）遊客價值對忠誠度有無顯著影響關係；進而推論，在活動參與者現地體驗所產生之價值後，無法對忠誠度產生顯著的直接影響關係，其可能原因為遊客在現地體驗價值後，認為活動具有獨特性、可以打發時間、具有物超所值的價值，但無法直接產生忠誠，而是會先對該價值產生滿意度，並透過滿意度中介影響忠誠度；當遊客價值感受越明顯，滿意度也會越高，相對而言產生忠誠的機會也會更高。（5）滿意度對忠誠度具有顯著影響關係。

This study aims to explore the relationship between motives for recreational activities, tourists' perceived values, satisfaction, and loyalty. The "Next to pass" method was employed to conduct a questionnaire survey on activity participants, and a total of 625 valid questionnaires were collected, with a valid return rate of 83%. SEM was performed on the collected questionnaires, finding that the overall SEM fit was good. There was a direct or indirect causal-effect relationship between each variable. The findings are as follows:1. Motives for recreational activities have a significant influence on tourists' perceived values and satisfaction.2. Motives for creational activities have no significant influence on loyalty. It is inferred that motives for recreational activities do not have a direct influence on loyalty, which is because an activity participant, who has developed precise motives to participate in an activity, has not experienced the activity in person, and therefore, is unable to develop an immediate loyalty to the activity. Instead, loyalty can only be cultivated when the activity participant feel a sense of satisfaction after participating in the activity in person.3. Tourists' perceived values have a significant influence on satisfaction.4. Tourists' perceived values have no significant influence on loyalty. It is inferred that a participant's values generated from activity participation in person is unable to have a direct influence on loyalty. The underlying reason is that a tourist, who has experienced the values of an activity in person, may be able to perceive the activity's particularity, time-killing utility, and values more than its price. However, the tourist is unable to immediately develop loyalty. Instead, a sense of satisfaction at the activity's values would arise in the activity participant, and such satisfaction would affect loyalty like a medium. A tourist who can perceive more apparent values of an activity would have a higher level of satisfaction, and have a relatively better chance to develop loyalty to the activity.5. Satisfaction has a significant influence on loyalty.