Rowland Lorimer has published "Libraries, Scholars, and Publishers in Digital Journal and Monograph Publishing" in the latest issue of Scholarly and Research Communication.
Here's an excerpt:
In the 1970s, research libraries developed data systems and expertise that, in the 1990s, led to new services such as institutional repositories and journal hosting and, in the 2000s, led to forays into monograph publishing. In contrast, also beginning in the 1970s, university presses found themselves being cast out of their traditional role as providers of research publishing services that created the public record of knowledge and into the marketplace. Continued development of information and communication technology (ICT) in library operations and in research activity stimulated entrepreneurship and scholar/library partnerships with scholar-controlled digital journal publishing. Again in contrast, the market orientation of university presses, combined with a lack of appreciation in the library community for the value added by professional publishers, hampered the extension of collaboration into three-way partnerships among scholars, libraries, and publishing professionals. Recognition of the roles of all parties holds the greatest promise for the evolution of digital scholarly publishing.