Exploring value co-creation in private higher education institutions in Morocco: implications for financial and market performance

Purpose This study investigates the impact of student value creation on private higher education institutions (HEIs) performance. Student value is regarded as a multi-stage, multi-stakeholder process that incorporates faculty participation while combining the perspectives of private HEIs managers and student. The study also examines both financial performance (FP) and market performance (MP). Design/methodology/approach Data were collected through three-informant design surveys to investigate the perspectives of managers, faculty staff and students. The hypotheses were tested using SmartPLS4. Findings The results indicate that student value has a positive and significant impact not only on private HEIs' FP but also on their MP. The results show a set of relationships in which each actor leads the subsequent phases to decisively improve institutional performance. The results also show significant mediation effects in the student value phases. Originality/value Previous research on value creation has separately focused on the perspectives of HEIs or students. This theoretical separation does not allow researchers to examine whether there may be discrepancies between the value offered by HEIs and the value that students believed they have received. Furthermore, there is no study that has integrated the faculty’s perspective despite their great importance in delivering value to students. This study fills this gap by considering all three perspectives of value creation for students.