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重构、重组与企业绩效:动态能力与环境动态性

Reconfiguration, Restructuring and Firm Performance: Dynamic Capabilities and Environmental Dynamism

《Strategic Management Journal》2017        作者:Stéphane J. G. Girod ,Richard Whittington

内容摘要

Research summary: Reorganization has been proposed as a key dynamic capability. This studycompares the performance outcomes of two forms of reorganization, differing in their pervasiveness:organizational restructuring and organizational reconfiguration. Our dynamic panel dataanalysis of large U.S. corporations between 1985 and 2004 finds contrasting performance outcomesfor these two forms of reorganization: in general, the more pervasive restructuring isassociated with positive performance outcomes, while the more limited reconfiguration is associatedwith negative performance outcomes. However, outcomes vary by environment. Consistentwith dynamic capabilities theory, we find evidence that in dynamic environments reconfigurationoutcomes turn positive, while restructuring outcomes turn negative. We discuss implications fordynamic capabilities theory and managerial policy.

Managerial summary: Firms need to reorganize in order to adapt to change. This study comparesthe financial performance consequences of two forms of reorganization: organizationalrestructurings and organizational reconfigurations. Restructurings involve fundamental change inorganizational principles and are typically irregular; reconfigurations involve incremental changeand are frequent. Examining a set of large U.S. corporations, we find these two forms of reorganizationhave contrasting financial consequences, depending on context. In the general case,fundamental restructurings have positive consequences, while incremental reconfigurations havenegative consequences. However, this general result reverses in specifically dynamic environments,where reconfigurations are positive financially, while restructurings are negative. We conclude thatthe relative frequency of reconfigurations helps adaptation in dynamic environments. Managersshould choose forms of reorganization according to the rate of environmental change.. Copyright© 2016 John Wiley & Sons, Ltd.


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