Abstract
"The Value-Price-Cost framework and the associated ideas of value creation and value capture are core concepts in the field of management. This paper seeks to extend these concepts, created in the context of developed markets, into emerging and subsistence markets to identify their boundary conditions. Grounded in institutional theory, our reasoning suggests that the notions of value, price, and cost are significantly different as one moves from a developed, to an emerging, and to a subsistence market context, and that these differences do not follow a linear pattern. To reflect this institutional embeddedness, we recommend adopting different terminologies for the framework in different markets." Source : Best Paper Proceedings of the 2nd Biennial Conference of the Africa Academy of Management