The Impact Of Strategic Flexibility And Intern Ationalization Performance Under Environmental Uncertainty

Strategic flexibility is conducive to enterprise to respond and adapt to change in the environment in a timely manner.However,there is no consensus on the impact of existing scholars on strategic flexibility and corporate performance.The relationship between the two has a high degree of context dependence.Especially in China's multinational corporations,facing the host country's operating environment,which is quite different from the domestic ones,it is more necessary for multinational companies to use the "flexible" strategy to cope with the challenges brought by different environments.Faced with a complex and dynamic environment,how strategic flexibility should match the environment,so that enterprises have the ability to effectively identify opportunities and avoid risks.Therefore,how to effectively use strategic flexibility strategies to improve performance levels is urgently needed.Therefore,while studying the relationship between strategic flexibility and internationalization performance,this paper should also consider the impact of corporate environmental complexity and environmental dynamics,which can explore the context-dependent factors affecting the relationship between the two.In addition,considering the different nature,it may bring different influences to multinational corporations.This paper explores the nature of the enterprise on the basis of the whole sample.In the state-owned enterprises and non-state-owned enterprises,what will exist between strategic flexibility and international performance? And the difference between the impact.First of all,based on the three theories of resource dependence,resource base and dynamic capability,this paper selects 662 A-share multinational companies in the five years from 2013 to 2017 as the research sample of this paper,and uses the hybrid model's empirical research method to test the strategic flexibility and international.The transmission mechanism and mechanism of performance between performance,while separately discussing the adjustment mechanism of environmental complexity and environmental dynamics between strategic flexibility and international performance;secondly,based on strategic flexibility,corporate performance andenvironmental uncertainty,Based on the theoretical research obtained,the mechanism of interaction between strategic flexibility and international performance under environmental complexity and environmental dynamics is further explored and tested.From the perspective of multidimensional environmental factors,comprehensive study and research on strategic flexibility for international performance relationship influence,and construct relevant theoretical conceptual models and propose relevant research hypotheses;first,collecting and processing the financial data related to the research of this paper and conduct empirical tests and research on the research hypothesis;second,by clarifying the strategy in different enterprise nature differences in the impact of flexibility and international performance,According to the nature of the enterprise,the whole sample of this paper is divided into two categories:state-owned enterprises and non-state-owned enterprises.Finally,analyzing and discussing the results of empirical tests,and providing constructive suggestions on how to improve the internationalization performance of multinational companies.The main conclusions of the paper are as follows:(1)Strategic flexibility and international performance have a "U" relationship.Among them,the relationship between strategic flexibility and international performance.The results show that there is a positive correlation between strategic flexibility and international performance,and it has passed the significance test of 0.1(? =0.282,P<0.1);the relationship between strategic flexibility quadratic and internationalization performance.The results show that there is a significant “U”-type relationship between the strategic flexibility quadratic and internationalization performance,and a significant level test of 0.05(?=-0.001,P<0.05)is supported,supporting the hypothesis H1.That is to say,the excessive level of strategic flexibility is not only unfavorable to the improvement of international performance level,but will hinder the development of international performance level.(2)The adjustment effect of environmental complexity between strategic flexibility and international performance.The result shows that the regulatory effect of environmental complexity passes a positive significance level test between strategic flexibility and international performance,and passes the significance leveltest of 0.1(?=0.285,P<0.1),supporting the hypothesis H2 a.(3)Environmental dynamics plays a regulatory role between strategic flexibility and international performance.The result shows that the regulation of environmental dynamics can be tested by negative significance level between strategic flexibility and international performance,and passes the significance level test of 0.1(?=-0.008,P<0.1).supporting the hypothesis H2 b.(4)The influence of strategic flexibility on the internationalization performance in the nature of different enterprises.Among them,in the state-owned enterprises,the positive correlation between strategic flexibility and international performance is absorbed,assuming that H1 is not verified;and the positive correlation between strategic flexibility and international performance is strengthened compared with non-state-owned enterprises,and a positive significance level test of 0.05(?=0.726,P<0.05)was passed,supporting the hypothesis H1.According to the research conclusions,this paper puts forward suggestions on the positive effect of rationally adopting strategic flexibility and achieving the matching of environment and strategic flexibility,in order to help improve the overall performance level of multinational companies.