Research On The Relationship Between Dynamic Capability And Value Co-creation Of Service-oriented Logic Of Internet Financial Enterprises

In the new century,as a new financial industry,Internet finance has developed rapidly,it has become a new type of business that can not be ignored in the whole financial ecosystem at present.With more and more Internet Finance players entering the market,at present,with the increasing homogenization competition and the increasingly strict supervision,the pressure on the survival and development of Internet financial enterprises is increasing.meanwhile,in recent years,the era of sharing economy is coming,sharing economy has become a national strategy and has spread rapidly in all fields of our society at an unprecedented speed,depth changed the internal and external Environment for industry development,due to the characteristics of Internet Finance and sharing economy,internet finance is one of the industries most affected by sharing economy.In-depth penetration,comprehensive integration and re-innovation of the sharing economy into the Internet financial industry,puts forward new and higher requirements for the innovative development of Internet financial enterprises.The innovation and development of Internet financial enterprises need the guidance and induction of relevant theories.Based on the background of the era of sharing economy,this study systematically combs the relevant literature in this field at home and abroad,and takes the Internet finance theory,sharing economy theory,value creation theory and dynamic theory as the support,based on the summary of the experience of domestic leading enterprises of Internet Finance--A and B in the innovation and development of Internet finance,this paper focuses on the impact of logic innovation and dynamic capability improvement on the value co creation of Internet finance enterprises,and uses dynamic capability as the intermediary variable to build a conceptual model of service-oriented logic influencing the value co creation of Internet finance enterprises,This paper discusses the micro mechanism of the service leading logic affecting the dynamic capability of Internet financial enterprises and then value co creation in the era of sharing economy,so as to provide some guidance for the innovation practice of Internet financial enterprises in the era of sharing economy,and help internet financial enterprises to maximize value co creation and enhance market competitiveness.This study aims to explore the impact of logic innovation and dynamic capability improvement on the value co creation of Internet financial enterprises in the era of sharing economy,further insight into the internal mechanism of the innovative development of Internet financial enterprises,to enhance its ability of innovation development,in order to maximize the value co-creation and enhance market competitiveness.This study puts forward the following three research questions:(1)In the era of sharing economy,what driving factors do Internet financial enterprises rely on to create value?(2)In the era of sharing economy,what is the relationship between the driving factors of innovation and development of Internet financial enterprises?(3)To explore the mechanism of Internet financial enterprises’ innovative development with the help of driving factors in the era of sharing economy?Through the study of the above problems,it can not only help us clearly grasp the driving factors for the innovation and development of Internet financial enterprises in the era of sharing economy,to understand the relationship between different ability factors,and the micro mechanism of innovation and development of Internet financial enterprises driven by different driving factors,help internet financial enterprises make better use of these factors for innovation and development,promote the long-term development and foundation.The innovation and contribution of this paper are as follows:First,refine the core factors that Internet financial enterprises rely on for innovation and development in the era of sharing economy,focus on the innovation and development of Internet financial enterprises in the future,open the black box of enterprise innovation and development in the era of sharing economy.The innovation of Internet financial enterprises is a complex and dynamic process,restricted and influenced by many factors,the driving factor is the key to guarantee and promote its innovation and development.Due to the strong relevance and inherent vulnerability of Internet finance,the factors that affect its innovation and development are complex and diverse,if internet financial enterprises want to achieve innovative development,must make full use of the internal and external favorable factors.However,most of the existing studies focus on the impact of external driving factors on the innovation and development of Internet financial enterprises,such as information technology environment,technological progress,etc,there is a lack of examining the impact of internal factors on the innovation and development of enterprises from their own perspective,there is a certain lag and one sidedness in theoretical research,its explanatory power is limited,it is not clear what driving factors Internet financial enterprises should have for innovation and development.This paper take two leading enterprises in China’s Internet finance industry,a and B,as examples,analyzes on the Operation Mode of Internet Financial Business,starting from the inside of the enterprise,refining the driving factors to promote its innovation and development.The results show that service dominant logic,dynamic capability and value co-creation are the main driving factors for the innovation and development of Internet financial enterprises in the era of sharing economy,the research results not only make up for the lack of exploring the driving factors for the innovation and development of Internet financial enterprises,it also makes up for the lack of paying attention to external factors and ignoring the role of enterprise’s own factors in its innovation and development.Second,focus on the impact of logic innovation and dynamic capability improvement on the value co-creation of Internet financial enterprises in the era of sharing economy,explored the relationship between these factorsIn the era of sharing economy,Service oriented logic,dynamic capability and value co-creation are the pre influencing factors for the innovation and development of Internet financial enterprises,the analysis of the relationship between these variables is relatively weak,the quantitative analysis is still blank.From the perspective of service leading logic,Sharing economy has changed the value logic of Internet financial enterprises,that from product oriented logic to the service-oriented logic;In terms of the way of value creation,The sharing economy has also changed the way Internet financial enterprises create value,from creating value alone to creating value together with multiple subjects;From the perspective of value creation process,Whether it’s the acquisition and integration of Internet and artificial enterprise resources,advanced product or service development,or knowledge sharing,digestion,absorption and transformation in the ecosystem it builds,all of these demonstrate the role of dynamic capabilities in helping Internet financial enterprises to maximize value co-creation and enhance market competitiveness.This paper proposes and supports the theoretical hypothesis that service-oriented logic influences the value co-creation of Internet financial enterprises in the era of sharing economy through dynamic capabilities,the relationship among the three is clear,That is,service leading logic-Dynamic Capability Improvement-value co creation,it makes up for the limited understanding of how the service-oriented logic and value co-creation are realized,it highlights the intermediary role of dynamic capabilities in value co creation.Third,it discusses the mechanism of the above three driving factors on the value co-creation of Internet financial enterprises in the era of sharing economy,to provide some guidance for the innovation practice of China’s Internet financial enterprisesIn the innovation and development of Internet financial enterprises in the era of sharing economy,the service-oriented logic does not directly affect the value co-creation of Internet financial enterprises,but indirectly influences their value co-creation through dynamic capabilities,whether it is the integration capability of Internet and the whole financial absorptive capability or the three dimensions,both of them play an intermediary role in the relationship between service leading logic and value co-creation,the improvement of the overall dynamic ability and the level of the three dimensions are helpful to promote the value co-creation of Internet financial enterprises.In the era of sharing economy,Value co-creation has become the focus of Internet financial enterprises,the value not only comes from the Internet financial enterprises themselves,but also is based on the active participation and interaction of consumers and partners(collectively referred to as platform users),they are the protagonists of value creation,therefore,we should encourage and guide users to participate in the value co creation of Internet financial enterprises through various forms,not only pay attention to users and their needs,but also pay attention to interaction,at the same time,we should pay attention to promoting the coordinated development and comprehensive improvement of the platform’s dynamic capabilities such as knowledge integration,knowledge absorption and knowledge innovation,only in this way can we gain unique competitiveness in the increasingly developing and complex economic environment.