Is one mechanism for value creation through market-based asset management sufficient to drive firm value?
(A2025-130424)

AUTHORS

Irina Staroverova, Graduate School of management of Saint Petersburg State University; Maria Smirnova, Saint Petersburg State University, Graduate School of Management

ABSTRACT

This study revisits how market-based assets create chains of effects that sustain competitive advantage, firm performance, and long-term value. While prior research has examined their contribution to firm value, it often relies on fragmented frameworks, isolating asset development from financial outcomes or overlooking intermediate linkages. This study integrates two value creation mechanisms, balancing long-term performance goals with asset objectives, and traces their cascading effects. By analyzing these chains, the study identifies gaps in existing models, such as disconnects between asset deployment and measurable returns.