Exploring the role of psychological ownership in value co-creation in private clubs: Insights from social cognitive theory

Abstract

Private clubs are exclusive communities where members develop a sense of psychological ownership, which in turn shapes interpersonal dynamics and value co-creation among stakeholders. However, limited research has captured the dynamic nature of clubs or integrated the distinctive traits of members because of the industry's exclusivity and privacy. Building on Social Cognitive Theory (SCT), this study examines how the psychological ownership of club members influences their value co-creation attitudes and behaviors in private clubs using a dimensional approach. Structural equation modeling, based on 289 responses from two U.S. country clubs, reveals that psychological ownership, as a multidimensional construct, significantly shapes value co-creation attitudes and behaviors. Each psychological dimension fosters collaborative attitudes differently, reinforcing its central role in value co-creation. Moreover, each value co-creation attitude uniquely influences participation behaviors, highlighting the nuanced relationship between attitudes and actions. The findings enhance our understanding of member behaviors in private clubs while adapting the framework to the industry's dynamic nature. By extending SCT to private clubs, this study captures their unique characteristics, encompassing environmental and psychological factors as well as stakeholder interactions that shape collaborative attitudes and actions, which strengthens the theoretical foundations of club research. The study offers valuable practical implications for private club management, emphasizing the role of psychological ownership in fostering member collaboration. Strategies such as community-building initiatives, inclusive leadership selection, tailored participation opportunities, and responsive governance can enhance members’ collaborative behaviors and ensure the long-term success of private clubs.