Abstract
When discussing the role of value creation in international business, the meanings and interpretations of “value” are essential in understanding its contextual manifestations. Somehow, it seems we know what “value” means, but if we try to use it in different processes and contexts, in relation to diverse actors, we might be surprised by the various interpretations given to it. Some equate value with the monetary equivalence of what people do or buy; others interpret it in a much broader sense as merit or worth, which can be either tangible or intangible, yet hard to define. Often, authors assume that either the reader knows what value is and discuss what affects it or how it is created, or simply explore it in a specific setting. Economics, accounting, strategic management, marketing, sociology, and various other academic disciplines have developed their specific interpretations and models of value that are embedded in the perceptions of the worth of the subject matter (for a review of conceptualizations of value in relevant disciplines see Ahen 2015: 83–86).
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Ahen, F.A. (2015). Strategic corporate responsibility orientation for sustainable global health governance: Pharmaceutical value co-protection in transitioning economies, Series A-5:2015, Turku School of Economics, Turku, Finland.
Autio, E. (2005). Creative tension: The significance of Ben Oviatt’s and Patricia McDougall’s article “Toward a Theory of International New Ventures”. Journal of International Business Studies, 36, 9–19.
Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99–120.
Benner, M. J., & Tushman, M. L. (2003). Exploitation, exploration, and process management: The productivity dilemma revisited. Academy of Management Review, 28(2), 238–256.
Bourdieu, P. (1990). The logic of practice. Stanford: Stanford University Press.
Christensen, C. M., Grossman, J. H., & Hwang, J. (2009). The innovator’s prescription: A disruptive solution for healthcare. New York: McGraw-Hill.
Colman, H. L., & Lunnan, R. (2011). Organizational identification and serendipitous value creation in post-acquisition integration. Journal of Management, 37, 839–860.
Giddens, A. (1984). The constitution of society: Outline of the theory of structuration. Oxford: Polity Press.
Gulati, R., Nohria, N., & Zaheer, A. (2000). Strategic networks. Strategic Management Journal, 21(3), 203–215.
Hakansson, H., & Snehota, I. (1989). No business is an island: The network concept of business strategy. Scandinavian Journal of Management, 5(3), 187–200.
Hall, E. T. (1989). Beyond culture. New York: Anchor Books.
Hansen, M. T. (1999). The search-transfer problem: The role of weak ties in sharing knowledge across organization subunits. Administrative Science Quarterly, 44, 82–111.
Heide, J. B., & John, G. (1990). Alliances in industrial purchasing: The determinants of joint action in buyer-supplier relationships. Journal of Marketing Research, 27(1), 24–36.
Integrated Reporting Council (IIRC) (2013). The international IR framework. http://integratedreporting.org/wp-content/uploads/2013/12/13-12-08-THE-INTERNATIONAL-IR-FRAMEWORK-2-1.pdf. Accessed 26 Dec 2015.
Kaplan, R. S., & Norton, D. P. (2004). Strategy maps: Converting intangible assets into tangible outcomes. Boston: Harvard Business School Press.
Katz, M. L., & Shapiro, C. (1985). Network externalities, competition, and compatibility. The American Economic Review, 75(3), 424–440.
Keupp, M. M., & Gassmann, O. (2009). Innovation and internationalisation: Why do transnational approaches to international innovation fail? Research in International Business and Finance, 23(2), 206–222.
Kim, Y., & Choi, T. (2015). Deep, sticky, transient, and gracious: An expanded buyer-supplier relationship typology. Journal of Supply Chain Management, 51(3), 61–86.
Kogut, B. (2000). The network as knowledge: Generative rules and the emergence of structure. Strategic Management Journal, 21, 405–425.
Krackhardt, D. (1992). The strength of strong ties: The importance of philos in organizations. In N. Nohria & R. Eccles (Eds.), Networks and organizations: Structure, form,and action (pp. 216–239). Boston: Harvard Business School Press.
Penrose, E. (1959). The theory of the growth of the firm. New York: Wiley.
Porter, M. E. (1985). The competitive advantage: Creating and sustaining superior performance. New York: Free Press.
Roos, G., & Roos, J. (1997). Measuring your company’s intellectual performance. Long Range Planning, 30(3), 413–426.
Sainio, L. M., Saarenketo, S., Nummela, N., & Eriksson, T. (2011). Value creation of an internationalizing entrepreneurial firm: The business model perspective. Journal of Small Business and Enterprise Development, 18(3), 556–570.
Say, J.B. (1821). Letters to Mr. Malthus on several subjects of political economy and on the cause of stagnation of commerce. Reprint by Kelly, A.M. New York.
Schumpeter, J.A. (1934/2008). The theory of economic development: An inquiry into profits, capital, credit, interest and the business cycle Translated from German by Redvers Opie. New Brunswick/London: Transaction Publishers.
Seth, A. (1990). Value creation in acquisitions: A re-examination of performance issues. Strategic Management Journal, 11(2), 99–115.
Sewell, W. H. (1992). A theory of structure: Duality, agency, and transformation. American Journal of Sociology, 98(1), 1–29.
Shimizu, K., Hitt, M. A., Vaidyanath, D., & Pisano, V. (2004). Theoretical foundations of cross-border mergers and acquisitions: A review of current research and recommendations for the future. Journal of International Management, 10(3), 307–353.
Smith, A. (1776). An inquiry into the nature and causes of the wealth of nations. London: W. Strahan and T. Cadell.
Stabell, C. B., & Fjeldstad, Ø. D. (1998). Configuring value for competitive advantage: On chains, shops, and networks. Strategic Management Journal, 19(5), 413–437.
Teece, D. J. (1987). Profiting from technological innovation: Implications for integration, collaboration, licensing, and public policy. In D. J. Teece (Ed.), The competitive challenge (pp. 185–219). Cambridge, MA: Ballinger Publishing Co..
Vargo, S. L., Lusch, R. F., Akaka, M., & He, Y. (2010). Service dominant logic: A review and assessment. Review of Marketing Research, 6, 125–167.
Acknowledgement
The editors acknowledge the contribution of the project “Value Creation in International Growth: Focus on Acquisitions and Joint Ventures” (Project number: 250613), financed by the Academy of Finland.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2017 The Editor(s) (If applicable) and the Author(s)
About this chapter
Cite this chapter
Marinova, S., Larimo, J., Nummela, N. (2017). Meanings and Interpretations of Value and Value Creation. In: Marinova, S., Larimo, J., Nummela, N. (eds) Value Creation in International Business. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-30803-6_1
Download citation
DOI: https://doi.org/10.1007/978-3-319-30803-6_1
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-319-30802-9
Online ISBN: 978-3-319-30803-6
eBook Packages: Business and ManagementBusiness and Management (R0)