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

• 成果类型: Article
• 署名作者: Sirmon, David G.; Hitt, Michael A.
• 署名单位: Texas A&M University System; Texas A&M University College Station; Mays Business School
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.791
• 发表日期: 2009
• 页码: 1375-1394
• 关键词: dynamic managerial capabilities; asset orchestration; resource management; resource investment; resource deployment; CONTINGENCY THEORY

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.