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Dynamic capabilities and firm performance in a financial crisis

Author

Listed:
  • Makkonen, Hannu
  • Pohjola, Mikko
  • Olkkonen, Rami
  • Koponen, Aki

Abstract

In this study, an organization means an active actor that can, at least to some extent, adapt to the environment, mainly within the limits of its resources and capabilities. The article enhances understanding of and explains organizational adaptive behavior in weathering the storm in the business environment resulting from the global financial crisis of 2008. The literature on dynamic capabilities, organizational change, and innovation in the context of organizational performance and survival captures this kind of adaptive behavior. The empirical study builds on a quantitative survey and a qualitative case study covering the food processing, maritime, and media industries. Structural equation modeling, group analysis, and qualitative case comparisons shed light on the connection between the constructs in question. Implications for theory and practice culminate in suggestions for future research.

Suggested Citation

  • Makkonen, Hannu & Pohjola, Mikko & Olkkonen, Rami & Koponen, Aki, 2014. "Dynamic capabilities and firm performance in a financial crisis," Journal of Business Research, Elsevier, vol. 67(1), pages 2707-2719.
  • Handle: RePEc:eee:jbrese:v:67:y:2014:i:1:p:2707-2719
    DOI: 10.1016/j.jbusres.2013.03.020
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Martin-Rios, Carlos & Parga-Dans, Eva, 2016. "Service response to economic decline: Innovation actions for achieving strategic renewal," Journal of Business Research, Elsevier, vol. 69(8), pages 2890-2900.
    2. repec:hig:fsight:v:11:y:2017:i:3:p:103-111 is not listed on IDEAS
    3. Soumodip Sarkar & Dulce Matos Coelho & João Maroco, 2016. "Strategic Orientations, Dynamic Capabilities, and Firm Performance: an Analysis for Knowledge Intensive Business Services," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 7(4), pages 1000-1020, December.
    4. Mikalef, Patrick & Pateli, Adamantia, 2017. "Information technology-enabled dynamic capabilities and their indirect effect on competitive performance: Findings from PLS-SEM and fsQCA," Journal of Business Research, Elsevier, vol. 70(C), pages 1-16.
    5. Elena Cefis & Orietta Marsili, 2018. "Good Times, Bad Times: Innovation and Survival over the Business Cycle," LEM Papers Series 2018/02, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    6. repec:eee:tefoso:v:120:y:2017:i:c:p:163-175 is not listed on IDEAS
    7. repec:eee:iburev:v:26:y:2017:i:6:p:1088-1099 is not listed on IDEAS
    8. Aimilia Protogerou & Yannis D. Caloghirou & Glykeria Karagouni, 2014. "The relevance of the 'dynamic capabilities' perspective in low-tech sectors," Chapters,in: Knowledge-Intensive Entrepreneurship in Low-Tech Industries, chapter 7, pages 138-165 Edward Elgar Publishing.
    9. Adelheid Holl & Ruth Rama, 2015. "Economic crisis and innovation: Do regions matter?," ERSA conference papers ersa15p87, European Regional Science Association.
    10. Rima Zitkiene & Egle Kazlauskiene & Mindaugas Deksnys, 2015. "Dynamic Capabilities for Service Innovation," MIC 2015: Managing Sustainable Growth; Proceedings of the Joint International Conference, Portorož, Slovenia, 28–30 May 2015, University of Primorska, Faculty of Management Koper.
    11. Stav Fainshmidt & Amir Pezeshkan & M. Lance Frazier & Anil Nair & Edward Markowski, 2016. "Dynamic Capabilities and Organizational Performance: A Meta-Analytic Evaluation and Extension," Journal of Management Studies, Wiley Blackwell, vol. 53(8), pages 1348-1380, December.
    12. Ana Ferreira & Ana Lúcia Teixeira & Ana Roque Dantas, 2015. "Non-technological innovation activities mediate the impacts of the intra- and extra-organizational contexts on technological innovation outputs," Enterprise and Work Innovation Studies, Universidade Nova de Lisboa, IET/CICS.NOVA-Interdisciplinary Centre on Social Sciences, Faculty of Science and Technology, vol. 11(11), pages 9-43, December.
    13. repec:eee:jbrese:v:80:y:2017:i:c:p:24-34 is not listed on IDEAS

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