The Relationship Among Top Managers' Cognitive,Corporate Dynamic Capabilities And Corporate Performance

With the development of social economy and the deepening of urbanization,the real estate industry is facing a complex and changeable macro environment as it develops rapidly.As the main body of real estate industry,the development of real estate enterprises is greatly influenced by policies,and has long been in an environment of fierce competition,high volatility and high risk.In the face of the market environment with increasing uncertainty,how to effectively cope with the environmental changes and achieve sustainable development is the core problem for each real estate development enterprise.Enterprise performance is the core index to measure the level of its development.The dynamic ability of the enterprise is the key to determine its competitive advantage and sustainable development in the complex and changeable environment,and it has an important influence on the promotion of enterprise performance.The cognition of senior managers is an important factor of dynamic capability and also has an effect on enterprise performance.The existing researches mainly focus on the dynamic capabilities and performance of enterprises,and there are few studies on the relationship between the three.In order to help real estate development enterprises to respond effectively to environmental changes and achieve sustainable development,it is necessary to study the mechanism of "senior managers cognition dynamic ability enterprise performance" from the perspective of real estate development enterprises,in order to help real estate development enterprises to gain and maintain competitive advantage in complex and changeable environment.Improve its dynamic capabilities and adaptability,and provide reference for its sustainable development.From the perspective of real estate development enterprises,this study focuses on 52 real estate companies listed in A shares of Shanghai and Shenzhen stock market for 2011-2016 years as the research object,and explores the role mechanism of senior managers' cognition,enterprise dynamic ability and enterprise performance.First,combing the relevant theoretical basis,combining the characteristics of real estate development enterprises and the connotation of dynamic ability,the concept and dimension of the dynamic capability of real estate development enterprises are put forward.Secondly,we propose the research hypotheses and determine the measurement dimensions of senior managers' cognition,enterprise dynamic capabilities and enterprise performance.From the selected annual reports of 52 listed real estate development enterprises,the required data were extracted and studied.The QSR Nvivo 11 is used to measure the cognitive variables of the senior managers,and the factor analysis method is used to determine the organizational change ability of the real estate development enterprises,and the multiple regression analysis is used to test the research hypothesis.It is found that the cognitive flexibility of senior managers has a significant impact on organizational change ability and has no significant impact on enterprise performance.The cognitive complexity of senior managers has significant influence on organizational change ability,resource allocation ability and enterprise performance;dynamic ability is in senior managers' cognition and corporate financial performance.The effect plays a mediating role.In this study,the abstract dynamic capability theory is applied to real estate development enterprises,so that the theory of dynamic capabilities of enterprises is more operational and practical.This study further analyzes the role mechanism of "senior managers' cognition dynamic ability enterprise performance",and improves the research on the cognition,dynamic ability,performance and mechanism of the real estate development enterprises,so as to effectively cope with the environmental changes and maintain competitive advantages for the real estate development enterprises.To provide reference for sustainable development.