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Although co-creation draws attention from researchers and practitioners, the concept is theoretically discussed, and it is not known enough how to measure co-created value (CCV) substantially at service encounters. This study aims to conceptualize CCV from the service-dominant (S-D) logic perspective and develop a CCV scale for hospitality services.

In addition to the conventional psychometric procedure for scale development, this study combined text-mining techniques and interviews to generate items to capture the concept of CCV comprehensively. Exploratory and confirmatory factor analyses were conducted using two different surveys. Moreover, structural equation modeling was performed to test concurrent validity.

The study developed a CCV scale, including four sub-dimensions: CCV-in-use, CCV-in-interaction, CCV-in-involvement and CCV-in-experience. The validity test results demonstrated that the new scale effectively measured CCV in a hospitality setting.

The multidimensional constructs and the scale that this study developed will contribute to empirical research and improve understanding of CCV at the service encounter. Moreover, managers can enhance their competitive advantages by identifying and evaluating factors to facilitate CCV.

The study reconceptualized CCV, drawing on a resource-based view from S-D logic, and developed a scale to measure the degree to which customers perceive CCV. Furthermore, it achieved methodological advancement in adopting text mining of online reviews for the scale development process.