Value creation: from dynamic capabilities to knowledge-based dynamic capabilities

The aim of the paper is to carry out a literature review of studies on dynamic capabilities in order to find possible gaps that symbolize the current confusion around this research stream. The paper draws a systematic literature review methodology to answer the research questions through an overview of current debate on dynamic capabilities and knowledge-based dynamic capabilities. This methodology puts in evidence that there are still unresolved theoretical aspects due to the lack of empirical works. Indeed, this research aims to make a contribution to the current literature on dynamic capabilities, trying to cover the existing gaps and directing the further research efforts. This paper has a significant implication for the understanding of value creation process, underlying the strategic role of dynamic capabilities and knowledge-based dynamic capabilities and their results at both process-level and the firm level.