Top Management Team Attributes, Dynamic Capabilitis And Enterprise Performance: The Empirical Research Of Nonlinear Moderation Relationship

Obtaining lasting competitive advantage is one of the important strategic objectives of the enterprise market competition. Strategic theory claim that the external environment is the most important objective factor to determine and influence the formation of enterprise competitive advantage. Therefore, in the face of rapidly changing competitive environment, enterprises’ top managers must consider how to make enterprises obtain the dynamic competitive advantage. On the basis of summarizing strategic theoretical research paradigm, such as resource-based view, industry structure analysis, strategic conflict, Teece and others put forward the concept of enterprise dynamic capability. They think that having dynamic capability to adapt to the dynamic environment is a precondtion for the enterprise to maintain lasting competitive advantage and obtain excess performance. Along with the direction, subsequent researchers carry on extensive studies around the relationship among dynamic capability, competitive advantage and enterprise performance, which also made dynamic capability gradually become a frontier branch of enterprise competence theory research in the strategic theory.With the promotion and the expansion of the quantitative research, scholars carry on studies to the related question of dynamic capability by quantitative methods. While the rise of dynamic capability empirical research greatly promoted the normation and universality of dynamic capability theory, it exists some deficiencies:on one hand, the vast majority of former research on the relationship among dynamic capability, competitive advantage and corporate performance analysis is linear relationship, but in the enterprise strategy practice, the influence of enterprise capability to performance is more likely to be nonlinear; on the other hand, the existing quantitative research on the relationship between enterprise performance and dynamic capability is ignored the analysis of important boundary condition factors that affecting the relationship established, such as enterprise top management team attributes. Therefore, deeply exploring and analyzing the nonlinear relationship among dynamic capabilities, top management team, the environmental dynamism and enterprise performance by quantitative empirical method is not only the deepening of the existing theoretical research on dynamic capabilities, but also make the research on enterprise competence theory conform to practice and needs of the enterprise.Based on the review of existing related research, this paper constructs an integrated nonlinear correlation model of dynamic capabilities and enterprise performance, and inspecting and analyzing the model through the quantitative empirical research. The data analysis results of the paper indicate that dynamic capability has a positive linear influence on enterprise performance, while top management team attribute and environmental dynamism have inverted u-shaped moderate nonlinear influence on the relationship between dynamic capability and enterprise performance.Related conclusion and analysis have positive function and meaning to further reveal the mechanism of enterprise ability affecting enterprise performance, and to confirm the essential point of enterprise strategy management practices.