Can platform-based enterprises’ social value drive economic value? A moderated chain mediation effect analysis

Abstract Creating shared value (CSV) is subtly affecting both reform and innovation in platform-based enterprises, but the intrinsic role of social value and economic value in platform-based enterprises has not received sufficient attention. Based on the CSV perspective, this paper takes the data for Chinese-listed platform-based enterprises as research samples and uses piecewise SEM software to explore the internal mechanism of the impact of platform-based enterprises’ social value on their economic value. The results show that the social value of platform-based enterprises can significantly affect the economic value and that the innovation input of enterprises and user-perceived value have a chain mediating effect in the relationship between social value and economic value. Furthermore, through the framework analysis of the mechanism of the external environment of platform-based enterprises, the moderating effect is tested. It is found that environmental flexibility and environmental uncertainty inhibit the influence of platform-based enterprises’ social value on innovation input and of innovation input on economic value. This study provides a new research perspective for the sustainable development of platform-based enterprises, expands the application field of piecewise SEM, and provides practical insights for platform-based enterprises regarding how to deeply promote embedding social value in enterprise innovation and stakeholder management to realize economic value.