| Military-civilian integration development is an internal requirement to realize the unification of a rich country and a strong military,military-civilian integration enterprises are the main body of China’s military-civilian integration development strategy,and their stable enterprise performance is an important guarantee to cope with complex national security and win national strategic advantages.However,at present,China’s military-civilian integration enterprises are facing problems such as relative separation of management systems,barriers to entry into the military or civilian market,asymmetric demand information,and unreasonable resource allocation.At the same time,China’s military-civilian integration enterprises rely more on secondary technological innovation to improve their scientific and technological innovation capabilities,and there are problems such as few original innovations and relatively single breakthrough points to achieve innovation.In the context of "mass entrepreneurship and innovation",business model innovation is a new path for military-civilian integration enterprises to improve their independent innovation ability,and also an effective way for military-civilian integration enterprises to break through market difficulties,capture customer needs,rationally allocate resources and realize value creation.Based on this,this paper takes China’s military-civilian integration enterprises as the research object,and on the basis of studying the relationship between business model innovation and enterprise performance,further analyzes the regulating role of internal and external situational factors on the relationship between the two,and effectively plays the role of business model innovation in promoting the performance of military-civilian integration enterprises and improving the comprehensive strength of military-civilian integration enterprises.This paper uses 1130 sets of data of China’s military-civilian integration listed enterprises from 2012 to 2020 as a research sample.Firstly,Based on the theory of value network,highorder theory and environmental uncertainty,the relationship between business model innovation and enterprise performance,as well as the moderating effect of senior management team heterogeneity and environmental uncertainty on the relationship between the two,are analyzed theoretically,and a research hypothesis is put forward,and then the research hypothesis is verified by the constructed model..In further analysis,this paper deeply explores the differences in the impact of business model innovation and equity nature on corporate performance in different dimensions,at the same time,the impact of different degrees of heterogeneity of senior management teams and environmental uncertainty on the relationship between the two is analyzed more specifically.The results show that: first,the business model innovation can significantly improve enterprise performance;the impact of different dimensions of business model innovation on enterprise performance is different,among which,the stronger the revenue realization ability and fixed asset ability of military-civilian integration enterprises,the more conducive to the improvement of enterprise performance;The degree of impact of business model innovation on enterprise performance of military-civilian fusion enterprises of different equity nature is different,and the business model innovation of non-state-owned enterprises has a greater role in promoting enterprise performance.Second,the age heterogeneity of the senior management team plays no obvious role in regulating the relationship between business model innovation and enterprise performance,and the heterogeneity of professional background negatively regulates the relationship between business model innovation and enterprise performance.Third,market dynamics and competitive strength positively adjust the relationship between business model innovation and enterprise performance;meanwhile,when the market dynamics level exceeds the critical value of 3.5572,the promotion effect of business model innovation on enterprise performance is enhanced,and when the competition intensity is lower than the critical value of-0.2676,the promotion effect of business model innovation on enterprise performance is enhanced. |