Drawing both on international marketing literature (Steenkamp, Batra, & Alden, 2003) and value/risk research (Sweeny & Soutar, 2001; Mitchell, 1999), the current study investigates (1) how consumers’ perceptions of brand globalness/localness (PBG/PBL) influence their assessment of different dimensions of perceived value as well as the risk associated with making a purchase decision; and (2) how these value and risk assessments mediate the relationships between PBG/PBL and brand purchase intentions. We apply signaling theory (Kirmani & Rao, 2000) to relate PBG and PBL to consumers’ perceptions of risk as well as their perceptions of functional, emotional and social value. For empirical verification of the hypothesized relationships, we use comparable samples from two European countries that vary substantially in terms of economic development (Slovenia and Bosnia & Herzegovina). Results show that only emotional value serves as a consistent mediator of PBG and PBL on purchase intentions in both countries, whereas no mediating role could be identified for perceived risk. In terms of managerial implications, our findings reveal the importance of emphasizing the emotional value of a brand, which serves as a stable facilitator through which PBG/PBL influence consumers’ purchase intentions across the distinct market settings.