Numerous studies showed that concurrent transmissions can boost wireless network performance despite collisions. While these works provide empirical evidence that concurrent transmissions may be received reliably, existing signal capture models only partially explain the root causes of this phenomenon. We present a comprehensive mathematical model that reveals the reasons and provides insights on the key parameters affecting the performance of MSK-modulated transmissions. A major contribution is a closed-form derivation of the receiver bit decision variable for arbitrary numbers of colliding signals and constellations of power ratios, timing offsets, and carrier phase offsets. We systematically explore the root causes for successful packet delivery under concurrent transmissions across the whole parameter space of the model. We confirm the capture threshold behavior observed in previous studies but also reveal new insights relevant for the design of optimal protocols: We identify capture zones depending not only on the signal power ratio but also on time and phase offsets.