Intellectual Capital and Value Co‑Creation: an Empirical Analysis from a Marketing Perspective

Abstract

The aim of this study is to investigate intellectual capital (IC) drivers that may influence Italian consumers’ decision to participate in value co‑creation (VCC) activities with firms. Given the exploratory nature of the research, after a review of the relevant literature, we conducted a survey among Italian consumers to see if IC principal sub‑dimensions (i.e. Relational Capital, Human Capital and Structural Capital) played a role in triggering VCC processes. Using a Principal Component Analysis (PCA), we analyzed 270 usable questionnaires finding that, in order to decide to co‑create value with firms, IC sub‑dimensions actually play a critical role. Our findings showed that the motivations (i.e., IC components) that influence Italian consumers’ decision to participate in value co‑creation activities with firms are quite homogeneous and similar both for those who already participated in past in these activities as well for those who never participated. The study has several managerial implications as well as limitations. In fact, the survey has been conducted only among Italian consumers and therefore the research should be extended by a geographically standpoint. Moreover, the research analyzed only the demand‑side, while it would be certainly useful to know the point of view of companies also adopting other research methods (e.g., in‑depth interviews). This study provides to practitioners important suggestions and warnings about the importance of the development of IC sub‑dimensions to (co‑)create value with external actors and consequently suggests the importance of adopting a “open” approach towards consumers to establish an effective and interactive relationship with them. The study fills a gap in the literature, since there are not so many references in literature for a deep understanding of the concrete relationship between IC and VCC. In addition, to our best knowledge this paper is the first that explore IC‑related issues from a marketing perspective.