Ecosystem leadership as a dynamic capability

We analyze the role and effect of ecosystem leadership understood as exercise effort towards others with purpose establishing maintaining an around a focal systemic innovation. While there has been much attention to firms that sponsor ecosystems in literature, leaders are usually characterized atheoretical manner, emphasis is on, existing ecosystems, thus neglecting might play emergence. clarify provide theoretical grounding for important emerging maturing ecosystems. Building on transaction cost economics, we conceptualize governance structure enables sustains coordination cooperation among multiple economic agents innovative value proposition. Our basic argument emergence such hampered by problems which markets price system cannot solve itself. Resolving these requires assistance, assistance what call leadership. To further characterize use Teece's tripartite dynamic capabilities scheme. Leadership through three externally-oriented capabilities: facilitating formation shared vision (sensing), inducing make ecosystem-specific investments (seizing) engaging ad hoc problem solving create maintain stability (reconfiguring/transforming). The latter capability particular often continues be mature ecosystem. characterization argue leader likely stems from having successfully exercised their also puts prime position capture. discuss implications our arguments theories, managers policy makers.