Value capture in open innovation: A literature review and a research agenda

While empirical research on open innovation initially focused on value creation, there has been a growing interest in value capture among academics and companies. Understanding value capture is crucial, as the success of open innovation activities depends on the value capture potential of all actors involved. To provide an overview of the key findings and guide future research, we conducted an integrative literature review of 69 empirical studies on value capture in open innovation. When analyzing these studies, we focused on what value is captured, who captures it, and how actor strategies influence the value captured in collaborative innovation activities. Our analysis identified four areas for further research, namely (i) broadening concepts and measures of value, (ii) understanding the importance of contextual factors in capturing value, (iii) adopting a dynamic perspective in studying value capture, and (iv) capturing social and environmental value in light of wicked problems.