Binary Governance Mode of Digital Platforms—An Exploratory Case Study from the Perspective of Value Co-creation
The digital economy has given rise to numerous new technologies,deeply transforming the development environment and inter-action mode of digital platforms,and reconstructing their governance modes and mechanisms.The core issue of digital platform govern-ance lies in how to manage participants for value co-creation and promote healthy platform development.Based on the perspective of value co-creation,this paper explores the governance modes and mechanisms of digital platforms.Through a longitudinal case study of 51WORLD,a leading digital platform in the digital twinning field,this paper proposes a binary governance mode that integrates digital and non-digital governance.In the initial stage,platform owners employ resource integration mechanisms and reputation governance mechanisms to stimulate participants'capabilities and willingness for value co-creation,thus achieving foundational value co-creation.In the growth stage,platform owners utilize technology adaptation mechanisms and multilateral trust mechanisms to enhance participants'capabilities and willingness for value co-creation,thus achieving scalable value co-creation.In the mature stage,platform owners employ technology sharing mechanisms and benefit commitment mechanisms to reinforce participants'willingness and capabilities for value co-creation,thus realizing sustained value co-creation.Through in-depth analysis,we find that digital governance and non-digital governance have both complementary and reinforcing effects,with digital governance enhancing participants'ability for value co-creation and non-digital governance stimulating their willingness for value co-creation,both of which jointly promote the realization of value co-creation by participants.The research conclusion reveals the multi-dimensional structure of digital platform governance,deepens our un-derstanding of the relationship between digital and non-digital governance,contributes to the development of digital platform governance theory and the connotation of governance mechanisms,and provides a new perspective and theoretical support for digital platform govern-ance.
digital platformbinary governance modegovernance mechanismsvalue co-creation
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