IDEAS home Printed from
   My bibliography  Save this article

Dynamic capabilities and their indirect impact on firm performance


  • Aimilia Protogerou
  • Yannis Caloghirou
  • Spyros Lioukas


This article seeks to empirically explore the relationship between dynamic capabilities and firm performance. In particular, it addresses the question of whether dynamic capabilities impact directly or indirectly on performance. In doing so, the article articulates and measures a construct of dynamic capabilities and using structural equation modeling it examines whether their impact on performance is mediated through operational--marketing and technological--capabilities. The proposed model is tested in different levels of environmental dynamism using data on 271 Greek firms belonging to the manufacturing sector. Empirical findings suggest that dynamic capabilities impinge on operational capabilities which in turn have a significant effect on performance. Direct effects on performance are found to be insignificant. Furthermore, similar effects seem to hold for both higher and lower levels of environmental dynamism. Theoretical and practical implications are discussed. Copyright 2012 The Author 2011. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.

Suggested Citation

  • Aimilia Protogerou & Yannis Caloghirou & Spyros Lioukas, 2012. "Dynamic capabilities and their indirect impact on firm performance," Industrial and Corporate Change, Oxford University Press, vol. 21(3), pages 615-647, June.
  • Handle: RePEc:oup:indcch:v:21:y:2012:i:3:p:615-647

    Download full text from publisher

    File URL:
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. 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.
    2. Elena Feltrinelli & Roberto Gabriele & Sandro Trento, 2013. "Do middle managers matter?," DEM Discussion Papers 2013/11, Department of Economics and Management.
    3. repec:bla:indres:v:56:y:2017:i:2:p:293-318 is not listed on IDEAS
    4. Baltar, Fabiola, 2013. "A suitable 'GPS' for SME's: the strategic planning and organizational learning nexus," Nülan. Deposited Documents 1877, Universidad Nacional de Mar del Plata, Facultad de Ciencias Económicas y Sociales, Centro de Documentación.
    5. Schneckenberg, Dirk & Truong, Yann & Mazloomi, Hamid, 2015. "Microfoundations of innovative capabilities: The leverage of collaborative technologies on organizational learning and knowledge management in a multinational corporation," Technological Forecasting and Social Change, Elsevier, vol. 100(C), pages 356-368.
    6. Elisa Martinelli & Giulia Tagliazucchi & Gianluca Marchi, 2015. "Disastri Naturali e Dynamic Capabilities nel Commercio," Department of Economics 0066, University of Modena and Reggio E., Faculty of Economics "Marco Biagi".
    7. repec:spr:manint:v:58:y:2018:i:2:d:10.1007_s11575-017-0337-8 is not listed on IDEAS
    8. Verreynne, Martie-Louise & Hine, Damian & Coote, Len & Parker, Rachel, 2016. "Building a scale for dynamic learning capabilities: The role of resources, learning, competitive intent and routine patterning," Journal of Business Research, Elsevier, vol. 69(10), pages 4287-4303.
    9. Richard Arend, 2014. "Entrepreneurship and dynamic capabilities: how firm age and size affect the ‘capability enhancement–SME performance’ relationship," Small Business Economics, Springer, vol. 42(1), pages 33-57, January.
    10. Côrte-Real, Nadine & Oliveira, Tiago & Ruivo, Pedro, 2017. "Assessing business value of Big Data Analytics in European firms," Journal of Business Research, Elsevier, vol. 70(C), pages 379-390.
    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.

    More about this item


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:indcch:v:21:y:2012:i:3:p:615-647. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.