Abstract

This study draws upon the theory of Value Co-Creation to develop a "Dynamic Capability-Value Co-Creation-Competitiveness" model aimed at exploring the mechanisms influencing competitiveness within cross-border alliances in the elderly care real estate sector. Utilizing structural equation modeling, we analyzed responses from 489 senior executives and validated the direct impact of dynamic capabilities—specifically, the ability to integrate, innovate, and relate—on competitiveness. Furthermore, we investigated the mediating effects of both alliance value co-creation (characterized by dialogue, channels, and transparency) and user value co-creation, while also assessing the moderating role of perceived value (encompassing functional, social, and emotional dimensions). The findings indicate that dynamic capabilities exert a significant positive direct influence on competitiveness. Notably, both alliance and user value co-creation positively contribute to enhancing competitiveness. Additionally, perceived value serves as a positive moderator in the relationship between dynamic capabilities and value co-creation. This research extends beyond a singular analytical framework, and uncovers the multi-faceted logic of "capability development-activation of co-creation-value enhancement" within cross-border alliances in the elderly care real estate sector. The insights gained provide actionable recommendations for government initiatives targeting constructing digital platforms, bolstering alliance capabilities, and optimizing value management. Overall, this study offers theoretical and practical pathways for improving competitiveness within the industry.