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Dynamic capabilities and SME performance: The moderating effect of market orientation

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  • Remedios Hernández-Linares
  • Franz W. Kellermanns
  • María Concepción López-Fernández

Abstract

We investigate how the four dimensions of the dynamic capabilities (DC) construct (sensing, learning, integrating, and coordinating) individually affect firm performance and the moderating role of market orientation (MO) in the process. Our findings, based on a sample of 509 Spanish small and medium-sized enterprises (SMEs), suggest that not all DC dimensions are equally important for SME performance. We further found MO to significantly moderate the relationships between both the sensing capability and the learning capability and firm performance. The implications for research and practice are discussed.

Suggested Citation

  • Remedios Hernández-Linares & Franz W. Kellermanns & María Concepción López-Fernández, 2021. "Dynamic capabilities and SME performance: The moderating effect of market orientation," Journal of Small Business Management, Taylor & Francis Journals, vol. 59(1), pages 162-195, January.
    • Handle: RePEc:taf:ujbmxx:v:59:y:2021:i:1:p:162-195
    DOI: 10.1111/jsbm.12474
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    Cited by:

    1. Sadeghi, Arash & Aliasghar, Omid & Bouguerra, Abderaouf, 2023. "Unpacking the relationship between post-entry speed of internationalization and export performance of SMEs: A capability-building perspective," Journal of International Management, Elsevier, vol. 29(1).
    2. Vuorio, Anna & Torkkeli, Lasse, 2023. "Dynamic managerial capability portfolios in early internationalising firms," International Business Review, Elsevier, vol. 32(1).
    3. Weinzimmer, Laurence & Esken, Candace A. & Michel, Eric J. & McDowell, William C. & Mahto, Raj V., 2023. "The differential impact of strategic aggressiveness on firm performance: The role of firm size," Journal of Business Research, Elsevier, vol. 158(C).
    4. Arjan J. Frederiks & Sílvia Costa & Boudewijn Hulst & Aard J. Groen, 2024. "The early bird catches the worm: The role of regulatory uncertainty in early adoption of blockchain’s cryptocurrency by fintech ventures," Journal of Small Business Management, Taylor & Francis Journals, vol. 62(2), pages 790-823, March.
    5. Junaid Aftab & Nabila Abid & Huma Sarwar & Anam Amin & Mahsa Abedini & Monica Veneziani, 2024. "Does corporate social responsibility drive financial performance? Exploring the significance of green innovation, green dynamic capabilities, and perceived environmental volatility," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(3), pages 1634-1653, May.
    6. Rasha A. A. ElNaggar & Mayar Farrag ElSayed, 2023. "Drivers of business model innovation in micro and small enterprises: evidence from Egypt as an emerging economy," Future Business Journal, Springer, vol. 9(1), pages 1-17, December.
    7. Lu, Qicheng & Meng, Xiangju & Su, Jiaoyue & Au Kai Ming, Alan & Wu, Yongjie & Wang, Chengqi, 2023. "TMT functional background heterogeneity and SMEs’ performance: The role of dynamic capabilities and business environment," Journal of Business Research, Elsevier, vol. 160(C).
    8. Fei Jiang & Filzah Md Isa & Sin Pei Ng & Mariam Bhatti, 2023. "The Impact of Supply Chain Integration to Supply Chain Responsiveness in Chinese Electronics Manufacturing Companies," SAGE Open, , vol. 13(4), pages 21582440231, December.

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