The Research On The Impact Of Dynamic Capability Of Technological Innovation On Enterprise Performance

In the rapidly changing market environment,enterprises can only embrace the change to achieve long-term growth.As global competition in technology intensifies,the original innovation mode of enterprises is changing,and the volatile external environment necessitates that companies to have the dynamic capability of technological innovation to strengthen environmental resilience and improve enterprise performance.The dynamic capability of technological innovation can help enterprises to identify and respond to innovation opportunities in the market before competitors and promote enterprises to carry out appropriate innovation activities.Therefore,it is reasonable to speculate that dynamic capability of technological innovation can influence enterprise performance through influencing ambidextrous innovation(exploration,exploitation,the equilibrium of ambidextrous innovation).In addition,the accumulation of enterprises’ innovation capability and the choice of innovation activities are inextricably related to executives’ behavior,while executive shareholding,as an important means of corporate governance and an objective situational factor inside the firm,may affect the relationship between dynamic capability of technological innovation,ambidextrous innovation and enterprise performance.Therefore,in order to improve corporate profitability,it is necessary to study the relationship between dynamic capability of technological innovation,ambidextrous innovation,executive shareholding and enterprise performance.This paper takes Chinese high-tech manufacturing enterprises as the research object,and constructs a theoretical model by incorporating six variables: dynamic capability of technological innovation,exploration,exploitation,the equilibrium of ambidextrous innovation,executive shareholding and enterprise performance to investigate the impact of dynamic capability of technological innovation on enterprise performance and its mechanism of action.Firstly,we combed through relevant domestic and international studies on enterprise performance,dynamic capability of technological innovation,ambidextrous innovation and executive shareholding.Secondly,it summarizes the relevant viewpoints of resource-based theory,dynamic capability theory,organizational duality theory and principal-agent theory.Thirdly,it puts forward research hypotheses,including the impact of dynamic capability of technological innovation on enterprise performance,the mediating role of ambidextrous innovation and the moderating role of executive shareholding in this process.Then,the research subjects and variable measurement indicators were identified,and data collection and processing were completed.Then,Stata software was used to test the hypotheses.Finally,based on the results of empirical analysis,conclusions are drawn,targeted management suggestions are made,and shortcomings and future research directions are pointed out.The empirical analysis draws the following conclusions: First,the dynamic capability of technological innovation positively affects enterprise performance.Second,the dynamic capability of technological innovation positively affects exploration,exploitation and the equilibrium of ambidextrous innovation.Third,exploration,exploitation and the equilibrium of ambidextrous innovation plays a mediating role in the relationship between the dynamic capability of technological innovation and enterprise performance.Fourth,executive shareholding positively moderates the relationship between dynamic capability of technological innovation and enterprise performance.Fifth,executive shareholding positively moderates the mediating role of exploration and exploitation.The innovation of this paper is: from the perspective of dynamic capability of technological innovation,it studies the impact of dynamic capability of technological innovation on enterprise performance,and discusses the mediating role of ambidextrous innovation and the moderating role of executive shareholding in it.Studying the role path of dynamic capability of technological innovation on enterprise performance is helpful to improve the innovation effect and profitability of enterprises,and promote the sustainable development of enterprises.