From Competition to Collaboration: How Digital Transformation Reshapes value capture Orientation in Manufacturing Supply Chains

Obtaining fair and reasonable value returns from supply chain collaboration is crucial for maintaining the security and stability of the supply chain and for building a competitive advantage based on supply chain dynamics. Can digital transformation drive enterprises to adopt a common-interest orientation that emphasizes the overall interests of the supply chain? Theoretical derivation and empirical evidence from publicly listed manufacturing companies indicate that digital transformation enables enterprises to shift towards a value capture orientation based on shared interests. This conclusion remains robust after a series of tests for robustness and endogeneity. Mechanism analysis reveals that digital transformation facilitates this shift through three pathways: customer value co-creation, collaborative innovation with customers, and the stabilization of customer relationships. Heterogeneity analysis shows that the transformation towards a value capture orientation under digital transformation is particularly pronounced in certain categories of enterprises: those operating in regions with higher marketization levels, firms in highly competitive industries, non-state-owned enterprises, and companies that emphasize research and development innovation. This study verifies the transition towards a value capture orientation from the unique perspective of supply chain power, deepening the theoretical understanding of supply chain value transformation under digitalization and providing insights for enterprises seeking to gain supply chain-based competitive advantages. JEL codes:L14; 033 ; M15