How coupled knowledge flows impact value co-creation in the innovation ecosystem? An empirical study based on the open innovation theory

Purpose This study aims to explore whether the activities of coupled knowledge flows between enterprises have a positive impact on the realization of value co-creation in the innovation ecosystem. Design/methodology/approach Open innovation theory emphasizes the crucial role of resource flows, especially knowledge flows, in enabling value co-creation among different entities. This study is thus motivated to specifically investigate the impact of coupled knowledge flows and their moderating factors on value co-creation within the innovation ecosystem. The study constructs the mechanism model of coupled knowledge flows affecting value co-creation, taking 364 high-tech Chinese enterprises participating in the innovation ecosystem as samples, empirically examining the relationship and changes between coupled knowledge flows and value co-creation and the moderating role of institutional support and knowledge reconstruction ability by using the hierarchical regression analysis method. Findings The test results confirm that coupled knowledge flows have a significant positive impact on value co-creation. Institutional support has a significant positive moderating role on the relationship between coupled knowledge flows and value co-creation. Knowledge reconstruction ability has a significant positive moderating role on the relationship between coupled knowledge flows and value co-creation. Originality/value The research aims to incorporate variables such as institutional support and knowledge reconstruction ability into the model empirically examining the impact of coupled knowledge flows on value co-creation, expanding the application boundary of open innovation theory, revealing the internal relationship between coupled knowledge flows and value co-creation and contributes to the existing literature on knowledge management of enterprises in the innovation ecosystem. The research conclusion can provide the theoretical basis for multiple subjects in the innovation ecosystem to achieve value co-creation.