Unleashing value cocreation on industrial internet platforms: a multi-theoretical perspective on SEM and fsQCA

Purpose This study aims to synthesize the research perspectives of affordance, synergy and actor-network theories to construct a theoretical model for the value cocreation of industrial internet platforms. Qualitative and quantitative methods validate the model, thereby identifying the prerequisites of value cocreation and the paths of realization for industrial internet platforms. Design/methodology/approach The authors use structural equation modeling (SEM), necessity analysis, fuzzy set qualitative comparative analysis (fsQCA) and robustness tests of the 584 samples from Chinese industrial internet platform enterprises. Findings The SEM results indicate that the value cocreation of industrial internet platforms is significantly and positively influenced by eight preconditions across three dimensions: platform affordance, resource synergy and actor-network governance. Resource synergy and actor-network governance mediate between platform affordance and value cocreation, producing a chain mediation effect. The fsQCA results reveal that value cocreation is propelled by the concerted influence of three dimensions, all of which are imperative. Moreover, three distinct driving modes facilitate the accomplishment of platform value cocreation. Additionally, the conclusions shed light on the driving forces and development trajectories of the present three mainstream types of industrial internet platforms. Originality/value By integrating affordance, synergy, actor-network and value cocreation theories, this study proposes a novel framework for understanding value cocreation in industrial internet platforms. The findings not only extend theoretical boundaries but also offer strategic guidance for platform development.