Value co-creation effects on transaction cost, relational capital, and loyalty of hair salon customers: Results and implications of a Ghanaian study

Wen Xiao, Christian Narh Opata, Stephen Tetteh, Tettey Wayo John Narh, Robert E. Hinson

Research output: Contribution to journalArticlepeer-review

6 Citations (Scopus)

Abstract

This study aimed to examine customer relational capital, transaction cost, and loyalty with value co-creation in the Ghanaian hair-dressing business sector. Participants were 455 female hair-dressing customers (mean age = 2.56 years, SD = 1.07 years, age range 22 to 68). Respondents completed existing measures of value co-creation, relational capital, transaction cost, and customer loyalty. The data was analysed by performing structural equation modelling using SmartPLS. The findings show that value co-creation enhances customer relational capital, transaction cost, and loyalty. The findings further show that relational capital significantly influences loyalty, while transaction cost did not. The findings of this study imply that value co-creation is of competitive advantage, influencing relational capital and customer loyalty. Relational capital with customer transaction cost is important to customer-oriented value co-creation in the hair-dressing industry.

Original languageEnglish
Pages (from-to)217-224
Number of pages8
JournalJournal of Psychology in Africa
Volume30
Issue number3
DOIs
Publication statusPublished - 3 May 2020
Externally publishedYes

Keywords

  • loyalty
  • relational capital
  • transaction cost
  • value co-creation

Fingerprint

Dive into the research topics of 'Value co-creation effects on transaction cost, relational capital, and loyalty of hair salon customers: Results and implications of a Ghanaian study'. Together they form a unique fingerprint.

Cite this