Antecedents and consequences of university perceived value, according to graduates: The moderating role of Higher Education involvement

The aim of the present work is to validate a model of antecedents and consequences of university perceived value among graduates, and to analyse the moderating role of their level of involvement with Higher Education. Perceived value is proposed as the principal antecedent of perceived value, comprising four dimensions: teaching staff, infrastructures, administration staff, and support services. Overall satisfaction with the university and the overall image of the institution are taken as consequences, for the purpose of this study. The final sample – comprising 352 university graduates from all areas of knowledge – was obtained via computer-assisted telephone interviewing (CATI). The theoretical model was estimated using Consistent Partial Least Squares (PLSc) and Multi-group Analysis (PLS–MGA). The results of the analysis confirm that perceived quality is a multidimensional construct formed by four distinct dimensions. It is found to determine perceived value, which, in turn, has a major influence on overall satisfaction and overall image of the institution, although the latter depends directly on satisfaction but not on perceived value in the case of graduates with a high level of involvement. These findings contribute to a better understanding of how university management can improve graduate satisfaction, via perceived quality and perceived value, and how graduate satisfaction is a major antecedent of overall image-formation. Further, the present results confirm that the extent of graduates’ involvement in Higher Education appears to moderate the effect of value on image, this moderation being greater among those graduates presenting a lower level of involvement. The conclusions from the research provide valuable information that can help guide university management in decision-making and strategy development.