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The global stakeholder capitalism model of digital platforms and its implications for strategy and innovation from a Schumpeterian perspective

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  • Harold Paredes-Frigolett

    (Diego Portales University)

  • Andreas Pyka

    (University of Hohenheim)

Abstract

In this article, we introduce the global stakeholder capitalism model of digital platforms. We describe the role that big data plays in the formation of the new extended innovation ecosystems of digital platforms and explain how these extended innovation ecosystems give rise to this new model. We discuss the implications of this new model for the strategy of digital platforms from a Schumpeterian perspective and show how digital platforms profit from innovation by capturing a form of rents that differs from standard Schumpeterian rents rooted in innovation economics. We conclude that the sustainability of this model depends on a new form of governance that assumes multi-fiduciary corporate duties in the extended innovation ecosystems of digital platforms.

Suggested Citation

  • Harold Paredes-Frigolett & Andreas Pyka, 2022. "The global stakeholder capitalism model of digital platforms and its implications for strategy and innovation from a Schumpeterian perspective," Journal of Evolutionary Economics, Springer, vol. 32(2), pages 463-500, April.
    • Handle: RePEc:spr:joevec:v:32:y:2022:i:2:d:10.1007_s00191-022-00760-z
    DOI: 10.1007/s00191-022-00760-z
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    References listed on IDEAS

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    Cited by:

    1. Zibiao Li & Han Li & Siwei Wang, 2022. "How Multidimensional Digital Empowerment Affects Technology Innovation Performance: The Moderating Effect of Adaptability to Technology Embedding," Sustainability, MDPI, vol. 14(23), pages 1-27, November.

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