Study On The Relationship Between The Dynamic Embeddability In Value Chain And Enterprise Performance

China's manufacturing industry is embedded in the global value chain under the background of globalization,and has made remarkable achievements.Nowadays,the environment at home and abroad has changed dramatically.In the past,the way of accepting international customer outsourcing business and embedding low-end into global value chain has presented huge disadvantages.One belt,one road,has been transformed from the global value chain to China's value chain.Some pioneers have been embedded in the regional value chain under the guidance of the "one belt and one road initiative".But for most Chinese enterprises,they are struggling to find a way out in the fast changing environment.The dynamic embeddability in value chain is a new proposition in this study.This study considers that the dynamic embeddability in value chain is an important ability for Chinese manufacturing enterprises to gain a rise in the value chain.China's manufacturing enterprises should strive to cultivate their own value chain dynamic embeddability ability,in order to effectively cope with the environmental turbulence and improve enterprise performance.Focusing on the theme of "how does the dynamic embeddability in value chain affect the performance of enterprises",this study adopts the methods of evolutionary theory,normative research,case study and large sample confirmation to answer the following questions: first,what is the basis of the dynamic embeddability in value chain? What is the underlying logic of the concept? Second,what is the dynamic embeddability in value chain? How to define its concept and connotation? Third,can the dynamic embeddability in value chain really improve the performance of enterprises,and what is the mechanism? What role does environmental turbulence play in it? Fourth,how does the dynamic embeddability of enterprise value chain form? What are the drivers?In order to answer these important questions,this study designed four sub studies.There is a progressive relationship among the four sub studies.Sub study 1: The conceptual logic of value chain dynamic embeddability: Based on the analysis of value chain evolution.This study mainly answers the first question: what is the underlying logic of value chain dynamic embeddability? On the basis of the main research conclusions at home and abroad,based on the theory of co evolution,this paper proposes anintegrated value chain evolution model with the path of "Multi Chain" embedding.From the perspective of risk and return,this paper studies the attributes of the main body in the "chain".It is found that breaking the asymmetry of risk and return is an important initial driving force for the transformation and upgrading of OEM enterprises;the size of enterprise risk and return comes from the difference of business ability;the strengthening of business ability makes OEM enterprises seek to embed more value chains of the same level,and the improvement of business ability makes OEM enterprises seek to embed more value chains of the same level The industry seeks to embed a higher-level value chain.The evolution of value chain relationship and business capability leads to the evolution of value chain of OEM enterprises,and the evolution result depends on the dynamic embeddability in value chain.Sub study 2:The concept and connotation of value chain dynamic embedding capability.This study mainly answers the second question: what is the dynamic embeddedness of value chain? How to define its concept and connotation? This research adopts the method of normative research,through theoretical deduction,puts forward the concept of dynamic embeddedness of value chain,uses the theory of dynamic capability for reference,and expounds its connotation.This study proposes that: the dynamic embeddedness of value chain refers to the ability of enterprises to quickly identify environmental changes,actively adjust the relationship with value chain partners,increase or reduce the number of embedded value chains and change their position in the value chain,actively use and integrate the resources and knowledge in the value chain,adjust the strategy and organizational structure through innovative learning,and create enterprise independence Special core competitive advantage,realize the active,active and contingency embeddedness in the relationship degree,spatial distribution and link difference of value chain.On the basis of sub study 1,combined with the theory of dynamic capability and the analytical framework of epistemology and ontology,this study proposes that the dynamic embeddability of value chain consists of four dimensions:environmental perception,value chain relationship and structural adjustment,innovative learning and strategic reconstruction.Dynamic embeddedness is not the negation of the original embeddedness theory,on the contrary,it is a kind of embeddedness strategy which is more suitable for Chinese traditional manufacturing industry to participate in GVC,combining with the production,division of labor status,difficulties faced by Chinesemanufacturing industry in recent decades and the enterprise practice of dynamic embeddedness.Value chain dynamic embeddedability is the development and extension of existing embeddedness theory and dynamic capability theory.Sub study 3: The relationship between value chain dynamic embeddability and firm performance: the impact of environmental turbulence.This study mainly answers the third question: under the turbulent environment,can the dynamic embeddability in value chain really improve the performance of enterprises,and what is the mechanism? In this study,correlation analysis,regression analysis and structural equation model are used to test the relationship among environmental volatility,value chain dynamic embeddability and enterprise performance.The results show that: first,environmental volatility plays a regulatory role,rather than a driving role,between the dynamic embeddability in value chain and corporate performance.That is to say,environmental volatility is a regulating variable rather than an independent variable;secondly,the dynamic embeddability in value chain has a positive impact on corporate performance;thirdly,the dynamic embeddability in value chain affects corporate performance through the value chain embeddedness;fourthly,the dynamic embeddability in value chain and the value chain embeddedness have no obvious impact on financial performance.Sub study 4: Evolution and driving factors of value chain dynamic embedding capability:Based on the vertical case study of Tebu company.This study mainly answers the fourth question: how does the dynamic embeddability in value chain form? What are the drivers? In this study,Tebu company is selected as a case,and through the method of vertical research,we find that: first,in the process of enterprise development,the dynamic embeddability in value chain is increasing in different stages of value chain embeddedness,which has more and more influence on enterprise performance;second,the evolution process of dynamic embeddability in value chain is dynamic,and its leading ability in different stages of evolution is not the same Third,the evolution of value chain dynamic embeddedability is mainly driven by organizational culture and entrepreneurship;competitive pressure and historical events do not play a direct role in driving,they play a role in enterprise performance through the interaction with value chain dynamic embeddedability.In this study,the concept of value chain dynamic embeddability is first proposed,and theconcept of value chain dynamic embeddability is deconstructed in an all-round way to explore the different dimensions of value chain dynamic embeddability and its formation mechanism.The concept framework further expands the theory of value chain embedding and the theory of dynamic capability,which has certain theoretical innovation.At the same time,the dynamic embeddability proposed in this study provides useful inspiration for the development of embeddedness theory.For the first time,this study classifies all kinds of capabilities in the value chain,and proposes "0-1-2 capabilities".Level 0 capability is the business capability of an enterprise,level 1 capability is the value chain embedding capability of an enterprise,and level 2 capability is the value chain dynamic embedding capability of an enterprise.This kind of ability grading clarifies the confusion of various documents in value chain ability theoretically,and promotes the development of ability theory to a certain extent.At the same time,to some extent,this study responds to a long-standing proposition in the field of strategic management: which of the external environment and internal capabilities has a greater impact on the performance of enterprises.This research follows the classic analysis framework of "external environment internal capability performance",which was introduced into the research field of value chain upgrading earlier.It combines external environment volatility and value chain dynamic embeddability to analyze its impact on enterprise performance.This kind of analysis thinking enriches the content of strategic management theory in value chain embeddedness,which is to value chain Chain embedding theory is a useful supplement.In addition,this study establishes a useful dialogue with embeddedness theory.This study proposes that enterprises in value chain are embedded not only in international customers,but also in value chain and external environment.The behavior and performance of enterprises are influenced by international customers(bilateral embedding),value chain(network embedding)and external environment(environment embedding).This further develops the "hierarchical embeddedness" of embeddedness theory,which is conducive to promoting the application of embeddedness theory in the field of value chain.