Student Co-Creation Behaviour in Vietnamese Higher Education: The Role of Perceived Value and Loyalty

Abstract

This study examines the relationship between perceived value components, loyalty variables, and value co-creation to better understand how student loyalty develops and how they behave when creating value for higher education institutions. The investigation was conducted using a questionnaire survey from 525 students in various universities in Vietnam. The data was assessed by combining two methodologies: artificial neural networks (ANN) and partial least squares structural equation modeling (PLS-SEM). The results suggest that loyalty is significantly influenced by all dimensions of perceived value, except monetary value. In turn, this fosters a robust capacity for value co-creation. The data indicates that emotional and customization values influence student loyalty more significantly than social and monetary values. Moreover, the findings of the ANN investigation indicate that behavioral loyalty is more important for creating value than attitudinal loyalty.