Research question/purpose - This study focuses on the following two issues: (1) the continuous improvement capability of the car-sharing platform to affect passenger loyalty; (2) the role of perceived value, passenger trust and transaction costs in the influence of continuous improvement capabilities of car-sharing platform on passenger loyalty. Design/methodology/approach - Based on the theory of perceived value, trust theory and transaction cost theory, this study constructs a conceptual model of structural equations considering the mediating role of passenger perceived value, passenger trust and transaction costs (see Figure 1). Then 755 data were collected by stratified sampling, and the structural equation model analysis was performed using the data (see Figure 2). To test the robustness of the theoretical model, this study proposed two alternative models for verification, i.e. Alternative Model 1 (see Figure 3) and alternative Model 2 (see Figure 4). Figure 5 shows the parameter estimates of the theoretical model and the coefficient of determination (R2) of the endogenous variables. Finally, the multi-group analysis was conducted from the perspectives of "driving license" and "experience". Originality/value - Most existing studies consider the quality of service, passenger satisfaction, social norms, and usage scenarios as the factors influencing passenger loyalty. This study takes the continuous improvement of car-sharing platforms as a dependent variable and explores the mediating role of passenger perceived value, passenger trust and transaction costs in continuous improvement and passenger loyalty.

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