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The purpose of this paper is to examine the generational differences among publicly traded family firms in regards to value creation and value appropriation in the innovation process by drawing upon the knowledge-based view (KBV) and family business literature with a focus on socioemotional wealth perspective.

The authors tests the hypotheses via longitudinal regression analyses based on 285 yearly cross-firm S & P 500 firm observations.

First, the authors found that family ownership with second or later generation’s majority exhibits lower levels of value creation capabilities compared to non-family firms, whereas there is no difference between those of the firms with family ownership with a first generation’s majority and non-family firms. Second, the authors also found that family owned firms with a first generation’s majority have higher value appropriation abilities compared to nonfamily firms, while there is no significant difference in value appropriation between the later generation family firms and non-family firms.

The study help scholars, family business members, and investors better understand family involvement, and how it impacts firm performance through value creation and value appropriation.

The paper contributes to the family business, innovation, and KBV literature in several ways. While previous family business studies drawing upon resource-based view and KBV often focus on the value creation in family governance, the authors investigate both value creation and value appropriation phases of innovation process.

This study aims to investigate whether higher value creation leads to higher value appropriation and to identify the boundary conditions in a buyer–supplier relationship that can explain why a particular supplier can appropriate higher value than others.

The study uses questionnaire surveys. The sample of the survey has 150 publicly-listed supplier firms in Taiwan. The unit of analysis is the buyer–supplier relationship.

In the buyer–supplier relationship, suppliers’ bargaining power, partnership and a supplier’s original brand manufacturing (OBM) business can strengthen the positive relationship between value creation and value appropriation.

This study adopts the unilateral viewpoint of suppliers; however, some constructs might require dyadic evaluation. This study only explores the spillover effect of OBM business on the relationship between value creation and appropriation.

The spillover effect of a supplier’s OBM business in a buyer–supplier relationship allows the buyer to share more common benefits and the supplier to capture more private benefits as compensation. By broadening its customer base, a supplier can increase its bargaining power. A supplier can also maintain a strategic partnership with each essential buyer.

To avoid the dark-side effect of partnership, the model provides the contingency that a supplier can capture more value from a buyer–supplier relationship.

Various authors have brought forth the idea that the increase in context turbulence and the relentless change in today's economic and competitive environments have rendered it essential for an effective firm strategy to combine both value appropriation and value creation (Porter, 1996; Moran & Ghoshal, 1999; Venkataraman & Sarasvathy, 2001; Hitt, Ireland, Camp, & Sexton, 2001b). Nonetheless, the methodological bases and the assumptions that characterize contributions concerning value appropriation and value creation are notably different and in many respects opposite to one another. These profound methodological differences hinder the possibility of a combined consideration of value appropriation and value creation issues within a coherent interpretative framework. By reinterpreting more conventional strategy studies in the light of the Austrian process view, this article builds a process framework which is able to consider and render mutually compatible both value appropriation and value creation within the unitary process of firm development. In addition, the use of the Austrian approach as an interpretative lens enables an evolution and extension of the resource-based theory that consents it, not only to grasp the mechanisms behind value appropriation, but also to suggest new ways of viewing post-industrial firm behavior that help to interpret its dynamic and proactive role in the value creation process.

Value appropriation is a central, yet neglected aspect in business exchange research. The purpose of the paper is to generate an overview of research on active value appropriation in business exchange and provide the foundation for further research into value appropriation, as well as some initial guidance for managers.

Literatures investigating value appropriation were identified by the means of a systematic review of the overall management literature.

The authors provide an overview and comparison of the literatures and find that they apply diverse understandings of the value appropriation process and emphasize different mechanisms and outcomes of value appropriation.

Based on the literature comparison and discussion, in combination with inspiration from alternative business exchange literature, the authors propose four areas with high potential for future research into value appropriation: network position effects, appropriation acts and behaviors, buyer-seller relationship effects, and appropriation over time.

Boundary spanning managers acting in industrial markets must master the difficult balance between value creation and appropriation. This review has provided an overview of the many managerial options for value appropriation and created knowledge on the effects of the various appropriation mechanisms enabling managers to secure company rents while not jeopardizing value creation.

To the authors' knowledge, this paper represents the first attempt at reviewing the management literature on value appropriation in business exchange. The authors provide overview, details, comparisons, and frame a research agenda as a first step towards establishing value appropriation as a key phenomenon in business exchange research.

The aim of this paper is to contribute to the service management literature by identifying the possible relationship between customer value seen from the customer perspective and from the firm perspective, and its potential influence on the value created for the service customer. The authors have not found any papers which focus on the relationship between these different perspectives of customer value, and the aim is to fill this gap in the literature.

The paper proposes that a relationship between the different perspectives exists and attempts to create an integrated vision of customer value.

The proposed model shows that it is the relationship between customer value from the customer ' s point of view and customer value from the firm ' s point of view that really creates value.

The paper can influence the current service management of firms with regard to customer value creation in several ways.

From the existing literature, it is deduced that customer value can be seen as perceived value (the customer perspective) or as value creation and appropriation (the firm perspective). The paper proposes that these three types of value are equivalent in an important level and should always be interrelated.

Product returns management (PRM) is a core supply chain management process. Though the importance of value creation and appropriation is acknowledged, extant studies on value in product returns tend to be limited to the residual asset value (cost recovery) of the returned products. Further, value discussion in PRM is limited to the value implications for a single party in the returns transaction rather than all the product returns chain entities. The purpose of this paper is to explore value creation and appropriation in a triad of supplier-retailer-3PL in the product returns chain.

The study uses an inductive qualitative approach. Semi-structured interviews with executives in a triad of organisations formed the primary data source for the study.

The paper identifies six value drivers and develops a value creation and appropriation framework. It shows that facilitation, value orientation, process alignment and relational factors are key drivers of value creation and appropriation in PRM.

The findings reinforce the view that value creation and appropriation are the outcomes of multi-party interactions in a product return chain. The framework presented contributes to the literature by showing the linkages amongst key drivers.

The findings show the important role of external process facilitation and how a 3PL contributes to value creation in a triadic relationship.

Research based on a triadic product returns chain is a unique dimension of this study.

The purpose of this paper is to explore the processes of value creation and appropriation among companies in a reverse clothing supply chain.

This research is based on an inductive case study approach at fashion retailers, charity organisations, commercial recyclers, and specialised sorting companies involved in take-back schemes for used clothes in the reverse clothing supply chain.

Value creation and appropriation processes are illustrated for different members of the reverse clothing supply chain. Results of different types of value and value co-creation explain the relatively high degree of collaboration among members in the “beginning” of the reverse supply chain. Here, collaboration outmanoeuvres the traditional value appropriation mechanism of price negotiation.

This research does not cover all tiers in this global industry, and practices among different regions may hamper the generalisability of the findings presented.

This research allows a comprehensive picture of the members in the reverse clothing supply chain and outlines some of the major processes involved, decisive for value creation, and appropriation.

The research draws upon the value concept and combines processes of value creation and appropriation in one, single empirical study. By doing that, the research disseminates the reverse clothing supply chain in a new way and facilitates improved understanding of the structure and rationales for members taking part in it.

This paper aims to investigate how different trajectories can be detected and classified in business models (BMs) at the level of their underlying product development value-structure (value-creation and appropriation), and what are the drivers. Such BMs are run by multinational firms to accommodate various technologies and innovations; however, this is stressful because of inherent incompatibilities and conflicts.

An explorative study of six product cases from Du Pont’s Textiles Fiber Division (DTFD), namely, nylon yarns, knits and wovens, DTFD blockbusters, Coolmax^®, MicroMattique™, filling materials and Supriva™, is conducted.

In value-creation, technology push or market pull yields resultant technology-forward or market-back trajectories. For value appropriation, new growth opportunities or continuous market expectations lead to breakthrough or continuous innovations. Consistent and inconsistent combinations of these trajectories yield four differential drivers: technological breakthrough, market-back technology, continuous technology and continuous market-back. This is supported by relevant supply chain strategies, either focused through joint ventures and licensees for commodities or vertically integrated for specialty products.

The paper adds to the analysis of ambidexterity in the value structure of BMs along constituent value-creation and appropriation, thus providing a logical lens to understand various complementarities that exist in terms of opposing technology trajectories and product innovation repertoire.

This study contributes to the knowledge of product innovation management in the textile industry, where both large-scale innovation and operational excellence are challenged over the past few decades.

The lessons learnt address the fundamental issue of higher value generation through configuration of multiple contrasting value-structure elements.

This chapter examines the factors that may influence the total value created in a joint venture (JV) and also the relative value appropriated by each partner in the venture. We look at the effects of both partners’ embeddedness in prior networks of relationships and the asymmetry of business relatedness of two partners with the JV on these two important outcomes. Results of an event study of stock market reaction to JV announcements by the largest U.S. firms during 1987–1996 suggest that both network embeddedness of partners and the asymmetry of business relatedness of two firms with the JV affect the total value creation of all partners but not the relative value appropriation between the partners.

Understanding how firms manage multiple stakeholders is an academic and business call. This paper aims to describe a firm’s processes to implement a stakeholder value creation system, defined as the firm’s processes to create appropriate value with multiple stakeholders.

The authors based their investigation on a conceptual framework extracted from a previous literature review. From there, the authors conducted qualitative empirical research designed as a multiple-case study. In-depth interviews with 47 people from 11 different firms are the key source of this study.

This paper proposes a framework demonstrating how a firm can implement a stakeholder value creation system. Results pointed to three processes: value creation, distribution and capture. Value distribution mechanisms are drivers for both value creation and capture processes. The system is a set of multiple flow relationships between the firm and its stakeholders.

This research is limited to the Brazilian context.

The stakeholder value creation system is composed of seven elements: walk-the-talk organizational behavior, stakeholder business model, societal non-attended need, stakeholder preference matrix, stakeholder bargaining power, retention of rents and governance mechanism. Managers may design their firm’s unique processes using these elements as drivers.

The present investigation demonstrates that societal issues matter for firms to formulate strategies that positively impact their economic, social and environmental results.

The authors investigated competitive strategy concepts of value creation and appropriation from a combination of resource-based and stakeholder theories and a system perspective. The framework of this study consolidated both theories’ ideas from a complementary perspective. The authors suggest managers and academics should adopt the power of the “AND” position instead of the “OR” trade-off position.