A good movie must balance the action and storytelling so that it keeps the pace without boring the audience with too much story.
Now the questions is how should the action and story be balanced in a video game?
Should there be more story or more action?
I would like to see some research papers about this topic if they exist.
I believe this question has a flawed assumption at its very core:
It assumes story and "combat" are separate.
That was often the case of games of eras passed. Just remember games like Final Fantasy, where you had separate cinematic/dialogue moments and a very clunky combat system. But what was good enough then, aint necessairly good enough now. The approach to handling narrative in games changes a lot. Just look at Telltale Games, like the Wolf Among Us or Walking Dead. The story and decisions made by the player are part of the gameplay and gameplay facilitates story.
The problem with dissecting gameplay and stroy into two separate things is that players that are into your story will treat combat gameplay like an irritating break in the narrative - an artificial pause, making them wait for what they want (which is learning what happens now in the story). It's true the other way around too. If I'm mostly into kicking some orc ass, I'll skip all your story and dialogue with a "blah blah blah" in the back of my head.
A better solution would be to blend the two. Incorporate decision making into the gameplay mechanic. Make the story a part of the gameplay, not a book that is being read to you in breaks between gameplay sequences.
So my advice for you is: maybe you should ask how to incorporate storytelling into your gameplay mechanics?
If you want to know more on the topic, I kindly suggest starting with this Extra Creditz video
