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- Dynamic capabilities: antecedents and implications for firms' performancePublication . Correia, Ricardo Jorge; Teixeira, Mário Sérgio; Dias, José G.Purpose – This paper aims to explore a new causal link between learning, market and entrepreneurial orientations and firms’ performance by introducing dynamic capabilities and competitive advantages as mediator variables. Design/methodology/approach – The mediating role of dynamic capabilities and competitive advantages is tested using a sample of 1,190 Portuguese firms, and structural equation models. Findings – It is shown that dynamic capabilities mediate the relationship between the three orientations– learning, market and entrepreneurial–and competitive advantages of differentiation and cost leadership, and both competitive advantages lead to firm’s performance. It is also shown that learning orientation is an antecedent of market orientation and entrepreneurial orientation. Practical implications – This research shows that firm’s performance depends on the capacity of firms to learn, innovate, be proactive, take risks and collect the best market data. Indeed, by optimizing the internal management and knowledge dissemination, firms will develop a set of capabilities and competitive advantages that lead to an appropriate response to market challenges. Originality/value – This study tests the relationship between strategic orientations and firm’s performance by taking the mediating effects of dynamic capabilities and competitive advantages into account. This research was conducted in Portugal.
- Dynamic capabilities and competitive advantages as mediator variables between market orientation and business performancePublication . Correia, Ricardo Jorge; Dias, José G.; Teixeira, Mário SérgioPurpose – This paper aims to explore a new causal link between market orientation and business performance by introducing dynamic capabilities as a mediator of the relationship between market orientation and competitive advantages, which ultimately determine business performance. Design/methodology/approach – The mediating roles of dynamic capabilities and competitive advantages are tested with a sample of 1,190 Portuguese firms using a structural equation model. Findings – The results confirm the hypotheses regarding the mediating roles of the competitive advantages (differentiation and cost leadership) in the relationship between dynamic capabilities and business performance. Additionally, dynamic capabilities also mediate the relationship between market orientation and competitive advantages. Practical implications – This study shows that business performance depends on the capacity of firms to collect the best market information on customers and competitors, to disseminate this information throughout their internal structure and ultimately optimize its use to respond appropriately to market challenges and trends. These will provide firms with a set of capabilities and a competitive advantage. Originality/value – This study provides empirical evidence on the understanding of the relationship between market orientation and performance, through the mediating effects of both dynamic capabilities and competitive advantages.