CONTINGENCIES WITHIN DYNAMIC MANAGERIAL CAPABILITIES: INTERDEPENDENT EFFECTS OF RESOURCE INVESTMENT AND DEPLOYMENT ON FIRM PERFORMANCE

被引:549
作者
Sirmon, David G. [1 ]
Hitt, Michael A. [1 ]
机构
[1] Texas A&M Univ, Mays Business Sch, Dept Management, College Stn, TX 77843 USA
关键词
dynamic managerial capabilities; asset orchestration; resource management; resource investment; resource deployment; contingency theory; PROFESSIONAL SERVICE FIRMS; EMPIRICAL-EXAMINATION; STRATEGY; IMPACT; VIEW; DIVERSIFICATION; PERSPECTIVE; BANKING; ENTRY; FIT;
D O I
10.1002/smj.791
中图分类号
F [经济];
学科分类号
020101 [政治经济学];
摘要
Dynamic managerial capabilities focus on managers resource-related decisions. Asset orchestration, a central component of dynamic managerial capabilities and of resource management, highlights the importance of integrating (matching) resource investment and deployment decisions Building on these recent theoretical advances, we examine the contingent nature of resource investment and deployment decisions. The results, based on a sample of banking firms, indicate that firm performance suffers when managers' investment decisions deviate from the norms of rivals for both human and physical capital. However, when deployment decisions support investment decisions, greater investment deviation, both high and low, generally enhances performance. Specifically, firm performance is optimized by making congruent resource investment and deployment decisions as opposed to maximizing or economizing either decisions independently. Therefore, resource management via asset orchestration is vital for superior performance. Copyright (C) 2009 John Wiley & Sons, Ltd.
引用
收藏
页码:1375 / 1394
页数:20
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