Friend or foe? Customer engagement’s value-based effects on fellow customers and the firm

•Positive/negative customer engagement (CE)’s value-based effects remain hazy.•In particular, a gap exists regarding CE’s value-based effects on multiple actors.•Based on this gap, we explore CE value-based effects on fellow customers/the firm.•We develop a typology of CE’s value-based effects on these stakeholders.•CE value-based effects can see differing (positive/negative) perceived valence.