XSL How to render html within element with no CDATA tag

I'm having trouble rendering html tag from my xml. It comes out as text.

XML:

<output_citation>T. C. Lovejoy, Q. M. Ramasse, M. Falke, A. Kaeppel, R. Terborg, R. Zan, N. Dellby and O. L. Krivanek. (2012). Single atom identification by energy dispersive x-ray spectroscopy. <em>Applied Physics Letters</em>, 100(15), 154101.  eScholarID:<a class="escholarid"
        href="http://ift.tt/1LCJbA1">213891</a> | DOI:<a class="doi" href="http://ift.tt/1BbNQYE">10.1063/1.3701598</a>
  </output_citation>

XSL (1.0):

<xsl:for-each select="output_citation">
                        <xsl:sort select="//output_createddate"  data-type="text" order="descending"/> 

                        <li>                                
                            <xsl:value-of select="."  />                                   
                           </li>

                    </xsl:for-each>

Output comes out as raw tags and not html formatting:

<li>T. C. Lovejoy, Q. M. Ramasse, M. Falke, A. Kaeppel, R. Terborg, R. Zan, N. Dellby and O. L. Krivanek. (2012). Single atom
     identification by energy dispersive x-ray spectroscopy. Applied Physics Letters, 100(15), 154101.  eScholarID:213891 | DOI:10.1063/1.3701598

  </li>

I've tried using 'copy-of-select' which does output the html format but also includes the 'output_citation' tag which I don't want:

  <li>
     <output_citation>T. C. Lovejoy, Q. M. Ramasse, M. Falke, A. Kaeppel, R. Terborg, R. Zan, N. Dellby and O. L. Krivanek. (2012). Single atom
        identification by energy dispersive x-ray spectroscopy. <em>Applied Physics Letters</em>, 100(15), 154101.  eScholarID:<a class="escholarid" href="http://ift.tt/1LCJbA1">213891</a> | DOI:<a class="doi" href="http://ift.tt/1BbNQYE">10.1063/1.3701598</a>                  
     </output_citation>
  </li>

Also, disable-output-escaping has no effect as there are no CDATA wrapping.

Many thanks