Purpose: The purpose of this paper is to provide a conceptual analysis of the literature on different kinds of value-creating networks; to provide a new conceptual framework of value-creating networks given their inherent nature of complexity in terms of multiplicity, and heterogeneity.

Design/methodology/approach: The paper takes a critical review of the relevant literature, 29 contributions being identified in a search of three major databases and a range of other published work for the broader perspective, illustrated by real-world examples from ten case studies.

Findings: Central dimensions of different kinds of value-creating networks are identified and a model incorporating their contingencies in the form of technology, market, and firm contextual factors is delineated.

Research limitations/implications: The theoretically and empirically grounded conceptualization of linkages between contextual factors and the constitution of different categories of value-creating networks is based on a limited number of articles and cases. However, it can serve as a starting point for the development of a formal contingency model of value-creating networks.

Originality/value: This structured and critical review contributes to the literature on value-creating networks, by developing a contingency model as a basis for future studies and current management strategy. The paper provides a novel theoretically and empirically grounded conceptualization of complexities and contingencies of different categories of value-creating networks, and as such contributes to our understanding of the dynamics of value-creating networks. The concept of network logic is introduced into the research discourse regarding value-creating networks.