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Theoretical and Applied Economics
No. 10 / 2010 (551)

Analysis of the Value Creation in Higher Institutions: A Relational Perspective

Raquel SÁNCHEZ-FERNÁNDEZ
University of Almería, Spain
M. Ángeles INIESTA-BONILLO
University of Almería, Spain
Walesska SCHLESINGER-DÍAZ
University of Zulia, Venezuela
Pilar RIVERA-TORRES
University of Zaragoza, Spain

Abstract. Despite the growing interest in value creation, a review of the relevant educational literature reveals that there is no generally accepted and empirically confirmed relational model of the student value creation process. This paper contributes in this way, analyzing several antecedents and consequences in the value creation process between graduates and their universities. We therefore study the effects of the quality of the student-professor interaction, trust, and university image on student perceived value. Moreover, we analyze the impact of perceived value on student satisfaction and loyalty. An empirical study was carried out in order to test the proposed theoretical model. The findings provide relevant academic and managerial implications for strategic decisionmaking at universities.

Keywords: perceived value; quality of the student-professor interaction; trust; image; satisfaction; loyalty; higher education.

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