Abstract
During the last two decades, value creation has been considered as a central topic for discussion. Various studies have focused on variables that affect the value creation process, such as service quality and customer satisfaction. Others have emphasized the measure of the value created. However, the literature is still not fully articulated and the measurement systems are traditional. Accordingly, we conducted a meta-analysis of value creation in service by addressing the following questions: What is value creation? What are the indicators mobilized in value creation literature in service? This literature review covers a period from 1996 to 2017. The objective of this study is to provide a better understanding of value creation, as well as to conceptualize this concept in service based on the commonly cited indicators.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Armas-Cruz, Y. (2011). Determinants of environmental management and implications for firms’ economic performance. Journal of Environmental Planning and Management, 54(8), 1077–1106.
Asimakopoulos, G., & Whalley, J. (2017). Market leadership, technological progress and relative performance in the mobile telecommunications industry. Technological Forecasting and Social Change, 123 (January 2016), 57–67.
Avkiran, N. K., & Morita, H. (2010). Benchmarking firm performance from a multiple-stakeholder perspective with an application to Chinese banking. Omega, 38(6), 501–508.
Aysan, A. F., & Ceyhan, S. P. (2008). What determines the banking sector performance in globalized financial markets? The case of Turkey. Physica A, 387, 1593–1602.
Barros, C. P., & Alves, F. P. (2004). Productivity in the tourism industry. International Advances in Economic Research, 10(3), 215–225.
Behera, A. K., Nayak, N. C., & Das, H. C. (2015). Performance measurement in banking & software firm: An empirical research. Global Journal of Flexible Systems Management, 16(1), 3–18.
Benavides-Velasco, C. A., Quintana-GarcÃa, C., & Marchante-Lara, M. (2014). Total quality management, corporate social responsibility and performance in the hotel industry. International Journal of Hospitality Management, 41, 77–87.
Bowman, C., & Ambrosini, V. (2000). Value Creation Versus Value Capture: Towards a Coherent Definition of Value in Strategy. British Journal of Management, 11(1), 1–15.
Bruce Ho, C. -T., & Dash Wu, D. (2009). Online banking performance evaluation using data envelopment analysis and principal component analysis. Computers & Operations Research, 36(6), 1835–1842.
Bulchand-Gidumal, J., & Melián-González, S. (2011). Maximizing the positive influence of IT for improving organizational performance. The Journal of Strategic Information Systems, 20(4), 461–478.
Chai, B. B. -H., Tan, P. S., & Goh, T. S. (2016). Banking Services that Influence the Bank Performance. Procedia—Social and Behavioral Sciences, 224 (August 2015), 401–407.
Chand, M. (2010). The impact of HRM practices on service quality, customer satisfaction and performance in the Indian hotel industry. Management, 21(4), 551–566.
Charnes, A., Cooper, W. W., Lewin, A. Y., & Seiford, L. M. (1994). Data envelopment analysis: Theory, methodology, and applications.  ​Igarss 2014. Dordrecht: Springer Netherlands. https://doi.org/10.1007/978-94-011-0637-5.
Chen, M. H. (2007). Interactions between business conditions and financial performance of tourism firms: Evidence from China and Taiwan. Tourism Management, 28(1), 188–203.
Cummins, J. D., & Xie, X. (2013). Efficiency, productivity, and scale economies in the U.S. property-liability insurance industry. Journal of Productivity Analysis, 39(2), 141–164.
Devaraj, S., & Kohli, R. (2003). Performance impacts of information technology: Is actual usage the missing link? Management Science, 49(3), 273–289.
Grönroos, C. (2008). Service logic revisited: who creates value? And who co-creates? European Business Review, 20(4), 298–314.
Ham, S., Gon Kim, W., & Jeong, S. (2005). Effect of information technology on performance in upscale hotels. International Journal of Hospitality Management, 24(2), 281–294.
Holbrook, M. B., & Hirschman, E. C. (1982). The experiential aspects of consumption: Consumer fantasies, feelings, and fun. Journal of Consumer Research, 9(2), 132–140.
Joppe, M., & Li, X. P. (2016). Productivity Measurement in Tourism: The Need for Better Tools. Journal of Travel Research, 55(2), 139–149.
Kaplan, R., & Norton, D. (2001). Transforming the balanced scorecard from performance measurement to strategic management: Part II. Accounting Horizons, 15(2), 147–160.
Kim, W. G., Cho, M., Kim, D., & Shin, G. C. (2014). The effect of price dispersion on hotel performance. Tourism Economics, 20(6), 1159–1179.
Lado-Sestayo, R., Otero-González, L., Vivel-Búa, M., & Martorell-Cunill, O. (2016). Impact of location on profitability in the Spanish hotel sector. Tourism Management, 52, 405–415.
Lepak, D. P., Smith, K. G., & Taylor, M. S. (2007). Value creation and value capture: A multilevel perspective. Academy of Management Review, 32(1), 180–194.
Liu, J., & Tone, K. (2008). A multistage method to measure efficiency and its application to Japanese banking industry. Socio-Economic Planning Sciences, 42, 75–91.
Marco-Lajara, B. (2014). Business agglomeration in tourist districts and hotel performance. International Journal of Contemporary Hospitality Management, 26(8), 1312–1340.
Melnyk, S. A., Bititci, U., Platts, K., Tobias, J., & Andersen, B. (2014). Is performance measurement and management fit for the future? Management Accounting Research, 25(2), 173–186.
Monroe, K. B. (1990). Pricing: Making profitable decisions. New York: McGraw-Hill.
Navarro, S., Andreu, L., & Cervera, A. (2014). Value co-creation among hotels and disabled customers: An exploratory study. Journal of Business Research, 67(5), 813–818.
Nurboja, B., & Košak, M. (2017). Banking efficiency in South East Europe: Evidence for financial crises and the gap between new EU members and candidate countries. Economic Systems, 41(1), 122–138.
Peiró-Signes, A., Segarra-Oña, M., Miret-Pastor, L., & Verma, R. (2014). The effect of tourism clusters on U.S. hotel performance. Cornell Hospitality Quarterly, 55, 1–13.
Perrigot, R., Cliquet, G., & Piot-Lepetit, I. (2009). Plural form chain and efficiency: Insights from the French hotel chains and the DEA methodology. European Management Journal, 27(4), 268–280.
Phillips, P., & Louvieris, P. (2005). Performance measurement systems in tourism, hospitality, and leisure small medium-sized enterprises: A balanced scorecard perspective. Journal of Travel Research, 44(2), 201–211.
Piccoli, G., & Lui, T. W. (2014). The competitive impact of information technology: Can commodity IT contribute to competitive performance? European Journal of Information Systems, 23(6), 616–628.
Prebensen, N. K., Vittersø, J., & Dahl, T. I. (2013). Value co-creation significance of tourist resources. Annals of Tourism Research, 42, 240–261.
Radić, N. (2015). Shareholder value creation in Japanese banking. Journal of Banking & Finance, 52(September), 199–207.
Roeffen, D., & Scholl-Grissemann, U. (2016). The importance of customer co-creation of value for the tourism and hospitality industry. In R. Egger, I. Gula, & D. Walcher (Eds.), Open tourism: Open Innovation, crowdsourcing and co-creation challenging the tourism industry (pp. 35–46). Berlin, Heidelberg: Springer Berlin Heidelberg. https://doi.org/10.1007/978-3-642-54089-9_3.
Sánchez, J., Callarisa, L., RodrÃguez, R. M., & Moliner, M. A. (2006). Perceived value of the purchase of a tourism product. Tourism Management, 27(3), 394–409.
Sheth, J. N., & Uslay, C. (2007). Implications of the revised definition of marketing: From exchange to value creation. Journal of Public Policy & Marketing, 26(2), 302–307.
Stahl, H. K., Matzler, K., & Hinterhuber, H. H. (2003). Linking customer lifetime value with shareholder value. Industrial Marketing Management, 32(4), 267–279.
Tajeddini, K., & Trueman, M. (2012). Managing Swiss hospitality: How cultural antecedents of innovation and customer-oriented value systems can influence performance in the hotel industry. International Journal of Hospitality Management, 31(4), 1119–1129.
Tsai, Y. C., & Cheng, Y. T. (2012). Analyzing key performance indicators (KPIs) for E-commerce and Internet marketing of elderly products: A review. Archives of Gerontology and Geriatrics, 55(1), 126–132.
Tsionas, E. G., Lolos, S. E. G., & Christopoulos, D. K. (2003). The performance of the Greek banking system in view of the EMU: Results from a non-parametric approach. Economic Modelling, 20(3), 571–592.
Ugwu, L. O., Oyebisi, T. O., Ilori, M. O., & Adagunodo, E. R. (2000). Organizational impact of information technology on the banking and insurance sector in Nigeria. Technovation, 20(12), 711–721.
Vargo, S. L., Maglio, P. P., & Akaka, M. A. (2008). On value and value co-creation: A service systems and service logic perspective. European Management Journal, 26(3), 145–152.
Xie, K., Wu, Y., Xiao, J., & Hu, Q. (2016). Value co-creation between firms and customers: The role of big data-based cooperative assets. Information and Management, 53(8), 1034–1048.
Yen, H. R., Wang, W., Wei, C. P., Hsu, S. H. Y., & Chiu, H. C. (2012). Service innovation readiness: Dimensions and performance outcome. Decision Support Systems, 53(4), 813–824.
Yılmaz, Y., & Bititci, U. S. (2006). Performance measurement in tourism: a value chain model. International Journal of Contemporary Hospitality Management, 18(4), 341–349.
Zeithaml, V. A. (1988). Consumer perceptions of price, quality, and value: A means-end model and synthesis of evidence. Journal of Marketing, 52O(3), 2–22.
Zhou, K. Z., Brown, J. R., & Dev, C. S. (2009). Market orientation, competitive advantage, and performance: A demand-based perspective. Journal of Business Research, 62(11), 1063–1070.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2019 Springer Nature Switzerland AG
About this paper
Cite this paper
El Boukhari, A., Oumlil, R., Achaba, A. (2019). Value Creation in Service Over the Last Two Decades: A Meta-Analysis. In: Katsoni, V., Segarra-Oña, M. (eds) Smart Tourism as a Driver for Culture and Sustainability. Springer Proceedings in Business and Economics. Springer, Cham. https://doi.org/10.1007/978-3-030-03910-3_8
Download citation
DOI: https://doi.org/10.1007/978-3-030-03910-3_8
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-03909-7
Online ISBN: 978-3-030-03910-3
eBook Packages: Business and ManagementBusiness and Management (R0)