VALUE CAPTURE THEORY: A STRATEGIC MANAGEMENT REVIEW

• 成果类型: Review
• 署名作者: Gans, Joshua; Ryall, Michael D.
• 署名单位: University of Toronto
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.2592
• 发表日期: 2017
• 页码: 17-41
• 关键词: VALUE CREATION; VALUE CAPTURE; COMPETITION; Cooperative game theory

摘要

Research summary: This article provides the first review of a growing line of scholarly work in strategy that we refer to as value capture theory. The common thread in this work is its use of cooperative game theory as a general, mathematical foundation upon which to build a deep understanding of firm performance in market settings. Our review: (1) describes the primary elements of the theory; (2) highlights important blindspots that it resolves with respect to existing theoretical approaches; (3) calls attention to several of its novel insights; and (4) summarizes a myriad of applications and empirical studies that have appeared in recent years using value capture theory. Managerial summary: Traditionally, theoretical claims in strategic management have been supported by informal, qualitative reasoning. Recently, however, a new line of theoretical work based upon mathematical methods, known as value capture theory, has been gaining in popularity. This article reviews the recent advances in this line with a particular emphasis upon a number of its important insights, several of which challenge longstanding propositions from the traditional line. For managers, the formal nature of value capture theory is well-aligned with data-driven analyses of strategic situations. Copyright c 2016 John Wiley & Sons, Ltd.