In an era when new ideas are brought to the market by global value networks of specialists rather than by one company, a key question is who captures the most value from innovation in such a structure, and why? This paper addresses the question of who benefits from innovation in global value...

In today’s global electronics industry, innovation is carried out by various value chain participants, including brand-name manufacturers (sometimes called lead firms), contract manufacturers, and component suppliers, but there is little understanding of who benefits most from innovation in...