Abstract: The value creation activities of business model are evolving from individual enterprise conduct to the joint efforts of the main enterprise, partners and customers. Only the value acquisition based on reasonable value sharing can guarantee the continuous value creation of business model innovation, and ensure the success of innovation. It is studied in this paper how the value of business model innovation is shared between the main enterprise and various stakeholders, and what are the conditions for reasonable value sharing.
Firstly according to the reference of previous literatures about how the added value of enterprise or business model is measured, this paper proposes the method of measuring the value of business model innovation. Then based on the Shapley value method, the added value after the business model innovation is shared between the main enterprise and other stakeholders. This method considers the amount of contribution of the main enterprise and various stakeholders to the business model innovation, and takes it as the basis of value sharing, which somehow shows the "individual rationality" and "collective rationality" of the value sharing of business model innovation. According to the result of calculation, the amount of the added value gained by the principal enterprise and other stakeholders are compared. Lastly the reasonable conditions for value sharing are also obtained, that is, the relationship between the variables which affect the value sharing(such as the variation of the price that customers pay, or the variation of the capitalised costs that the principal enterprise pay the suppliers or the partners and so on) and the variables of the achievements of the innovation (such as the variation of the capacity of the market, the variation of the price of the product or service, or the variation of the costs of providing its own resources by the principal enterprise in the business model and so on). Above all, this is of some guiding significance for the enterprises to innovate the business models. In order to improve the enthusiasm of all stakeholders to participate in innovation, it is necessary to adjust the parameters that affect value sharing according to different innovation results.
The results show that, the stakeholders who have no direct contribution to business model innovation may also share the value of innovation, however, the objects and quantities of value sharing are different based on different innovation results. The change of innovation result parameters will affect the sharing value in different extent. In order to improve the enthusiasm of all stakeholders to participate in the innovation, it is necessary to adjust the sharing value to the results of different innovations. Only with the reasonable value sharing, the value of business model innovation can be realized better through the joint promotion of each participant in the innovation value network. This research makes up for the research gap of value sharing in business model innovation.

Key words: business model innovation, value sharing, Shapley value