Value co-creation activities, dynamic capabilities and innovation performance of digital start-ups

Breaking through the resource shackles through participating in value co-creation activities is an essential way for digital start-ups to improve their innovation performance. However, current research does not fully explore its mechanism. According to the resource-based view and dynamic capability theory, this paper aims to explore the mechanisms through which value co-creation activities impact the innovation performance of digital start-ups. The research findings indicate that value co-creation activities positively influence the innovation performance of digital start-ups. Meanwhile, dynamic capabilities play a partially mediating role between value co-creation activities and innovation performance of digital start-ups. Environmental dynamics positively moderate the relationship between value co-creation activities and alliance management capability. However, environmental dynamics exhibit an inverted U-shaped moderating effect on the relationship between value co-creation activities and new product development capability, and an inverted U-shaped moderating effect between value co-creation activities and innovation performance. The findings enrich the research on the pathways and effects of value co-creation activities in business-to-business contexts, providing theoretical guidance for effectively promoting value co-creation activities and improving innovation performance of digital start-ups.