顾客参与价值共创可以提升企业的品牌资产,但还没有学者进行该方面的验证。为了弥补该方面研究的不足,对虚拟品牌社区环境下顾客参与价值共创与品牌资产的关系进行了实证研究,并验证了品牌体验在二者关系中的中介作用。研究结果发现:顾客参与两种类型的价值共创对品牌资产都具有直接显著影响作用,加入品牌体验中介变量之后,品牌体验在顾客参与发起的价值共创和品牌资产关系中具有部分中介作用,品牌体验在顾客参与自发的价值共创和品牌资产关系中具有完全中介作用。该研究丰富了价值共创理论的研究成果。 Customer participation in value creation can enhance the company’s brand equity, but no scholars have done so. In order to make up for the lack of research in this aspect, this paper empirically studies the relationship between customer participation in value creation and brand equity under the virtual brand community environment, and verifies the intermediary role of brand experience in the relationship between the two. The results show that: customer participation in both types of value creation has a direct and significant effect on brand equity. After joining brand experience intermediary variables, brand experience plays a partial mediating role in the relationship between value creation and brand equity initiated by customer participation, Brand experience in customer participation in the spontaneous value creation and brand equity relationship has a complete intermediary role. This research enriches the research results of value creation theory.