The Role of Influencing Factors on Brand Equity and Firm Performance with Innovation Culture as a Moderator: A Study on Art Education Firms in China

Ming Li, Chee Hua Chin (), Shangke Li, Winnie Poh Ming Wong, Jun Zhou Thong and Kang Gao
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Ming Li: North China University of Water Resources and Electric Power, Zhengzhou 450046, China
Chee Hua Chin: School of Business and Management, University of Technology Sarawak, Sibu 96000, Sarawak, Malaysia
Shangke Li: North China University of Water Resources and Electric Power, Zhengzhou 450046, China
Winnie Poh Ming Wong: School of Business and Management, University of Technology Sarawak, Sibu 96000, Sarawak, Malaysia
Kang Gao: North China University of Water Resources and Electric Power, Zhengzhou 450046, China

Sustainability, 2022, vol. 15, issue 1, 1-18

Abstract: Presently, particularly in China, the market for art education is still in the growth stage of industrial development. Nevertheless, there is a huge number of art education businesses competing for a share of China’s art education industry, which is of a very modest size. Given the evolution of the economy and innovative culture, it is of the utmost necessity to comprehend both brand equity and corporate success in the present day. This study explored the relationship between brand equity and company performance under the adjustment of innovation culture using Chinese art education businesses as the baseline study. The present study examined the relationship between the five components of brand equity that are primarily comprised of brand awareness, brand association, perceived quality, brand loyalty, brand relevance, and brand equity with the moderating impact of innovation culture. A total of 300 respondents, including art education firm managers, teachers, and other key employees, participated in the survey and WarpPLS 8.0 was used to evaluate the proposed model. Subsequently, the statistical findings revealed a significant positive relationship between the brand equity components (i.e., perceived quality and brand relevance) and a firm’s performance, while a firm’s innovation culture was discovered to moderate the said relationship. The implications of these findings are further discussed.

Keywords: China; brand equity; innovation culture; firm performance (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
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