Extant management literature provides a quite comprehensive picture of the dynamic nature of value creation, whereas value appropriation has received much less scholarly attention. The number of research works devoted to the complex issues of value receiving, protecting and retaining is at the moment relatively modest, concerning both theoretical and empirical dimension. There is a paucity of coherent theoretical frameworks providing insights into the dynamic nature of value appropriation. This book addresses the gap in the body of strategic management literature by providing a dynamic capability-based framework of value appropriation, discussed on a theoretical level and deployed in an empirical investigation.