The Determinants of Value Creation at the Firm, Industry and National Levels: A Framework and Evidence

We aim to bridge three (plus one) levels of (strategic) management theory of value capture and sustainable value creation; micro (firm), meso (industry, region), macro (national) (and also global). We propose a framework for value creation by firms and explore firm strategies for value capture and their relationship to value creation. We construct requisite variables and test our framework for 17 OECD countries using panel data. We find support for our integrative framework. We also explore the issue of sustainability and its implications for managerial practises, corporate governance, public policy and global governance that promote sustainable global value creation.