Examining the Value Co-Creation Model in Motor Racing Events: Moderating Effect of Residents and Tourists

Abstract

Value co-creation measurements in a recurring sporting event sprang from an academic and a practical desire to understand value co-creation. This study aims to (1) identify and explore the co-production and value-in-use, two dimensions of value co-creation measurement; (2) verify the validity of the measurements of the value co-creation model; and (3) examine whether noteworthy differences exist between residents and tourists in co-creation, respectively. For this purpose, this study conducted two studies. Study 1 establishes the value co-creation model and compares the reflective and formative models. Study 2 tests the proposed model’s validity and reliability and examines the moderating effect of travel patterns (residents and tourists). The results indicated that the value co-creation measurement is hierarchical and exhibits reliability and validity in the reflective model. The results further demonstrate that co-production and value-in-use patterns differ by residents or tourists. The current study uses S-D logic to better understand value co-creation’s hierarchical theoretical nature from the perspective of residents and tourists in the recurring sporting event context, thus contributing to sport management literature. Furthermore, this paper contributes to value co-creation studies, showing that various attendees (residents and tourists) perceive different levels of co-creation because resources may vary by social group.