Value creation is often at the core of many organizational activities and is often reflected in the exploration and exploitation of opportunities to foster organizational growth. In modern organizations, information technology (IT) plays a significant role in creating business value and building substantial competitive advantage. While in the traditional conception of the process, value creation often occurred within the organization through its activities and outside markets, present day organizations often open their organizational boundaries to engage external expertise, innovate continuously, and locate new sources of value creation. Towards this end, the present dissertation looks at new sources, processes, and outcomes of value creation. Using a theory informed approach, we examine the financial and accounting impacts of three value sources--C-level IT expert board directors, acquisition of software knowledge, and the acquisition of entrepreneurial IT firms. Our findings contribute to the growing research literature on IT related value creation by finding empirical evidence of firm level value for firms that engage with these value sources. Our research also informs practitioners of effective strategies and best practices so that they may derive the most from their investments in these value sources. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com.bibliotheek.ehb.be/en-US/products/dissertations/individuals.shtml.]