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The purpose of this paper is to examine the indirect relationship between dynamic capabilities (DCs) and organizational outcomes through matching and creating market change. In addition, the research aims to gain a deeper understanding of the role of marketing in DCs and to extend beyond a simplistic discussion of DCs by studying proactive market orientation and value innovation as specific DCs.

A questionnaire was developed and data were collected from 270 senior executives. After ensuring reliability and validity, the hypotheses were examined by applying structural equation modeling and Monte Carlo simulation.

The findings indicate that dynamic marketing capabilities (DMCs) are critical in the reconfiguration of operational marketing capabilities, which in turn lead to enhanced organizational performance. The results also suggest that organizations with enhanced DMCs are able to initiate market disruption and achieve superior performance by out-competing their rivals.

The research provides guidelines for managers wanting to exploit their DMCs by showing that organizations can match the environment, create market turbulence or combine both strategies to fully exploit their DMCs. This study also provides managers with actionable tools that are specific, robust and easily applied.

This study is one of the few to incorporate induced market turbulence into the DC literature and conceptualize, develop and validate scales to measure it. The study provides empirical evidence for the claim that operational marketing capabilities are necessary to utilize the benefits of DMCs.

In this paper, the authors aim to introduce international dynamic marketing capabilities (IDMCs) theoretically derived from marketing capabilities (MCs), dynamic marketing capabilities (DMCs) and international marketing capabilities (IMCs) and provide a novel conceptualization of the concept by applying a holistic view of the international enterprise.

This is a literature review that maps the current research on MCs, DMCs and IMCs and serves as a basis for the theoretical conceptualization of a novel IDMCs concept as well as for the identification of research gaps and the development of future research directions on this phenomenon.

Existing typologies of MCs, DMCs and IMCs are classified into four categories: strategic, operational, analytical and value creation capabilities. A new typology of IDMCs is proposed, consisting of digital MC and dynamic internationalization capability as strategic capabilities, agile IMC, IM excellence and absorptive capability in IM as operational capabilities, IM resilience capability, IM knowledge management capability, AI-enabled IDMC and Industry 4.0-enabled IDMC as analytical capabilities, and ambidextrous IM innovation capability as value creation capability. Finally, the authors identify research gaps and develop research questions that open future research avenues for the coming years.

This paper offers a novel view of MCs, DMCs and IMCs and argues that, in contrast to the majority of previous research, a comprehensive understanding of these is only possible if all levels are considered simultaneously: the strategic, the operational, the analytical and the value creation level. A new conceptualization and typology of IDMCs follows this logic.

The purpose of this paper is to focus on the characteristics, efficiencies and interaction of many alternative market governance modes, by the approach of comparative institutional experimentation.

First, a highly simplified model of market economy is developed, which is embedded in a three‐layer governance structure. Then the model is transplanted into laboratory experimentation, so the characteristics and efficiencies of different governance modes can be identified by observing the subjects' behaviors under them.

The experimental results show that the market with governance structure based on rule is more efficient than the market with governance only based on long relation and based on preference or belief, and the dynamic improvement of governance based on rule has a destructive effect on the governance based on relation and governance based on preference or belief.

These results have profound implications for the development or enhancement of market institutions in transition or developing countries.

The purpose of this paper is to examine the impact of corporate governance, investor sentiment and financial liberalization on downside systematic risk and the interplay of socio-political turbulence on this relationship through static and dynamic panel estimation models.

The evidence is based on a sample of 230 publicly listed non-financial firms from Pakistan Stock Exchange (PSX) over the period 2008–2018. Furthermore, this study analyzes the data through Blundell and Bond (1998) technique in the full sample as well sub-samples (big and small firms).

The authors document that corporate governance mechanism reduces the downside risk, whereas investor sentiment and financial liberalization increase the investors’ exposure toward downside risk. Particularly, the results provide some new insights that the socio-political turbulence as a moderator weakens the impact of corporate governance and strengthens the effect of investor sentiment and financial liberalization on downside risk. Consistent with prior studies, the analysis of sub-samples reveals some statistical variations in large and small-size sampled firms. Theoretically, the findings mainly support agency theory, noise trader theory and the Keynesians hypothesis.

Stock market volatility has become a prime area of concern for investors, policymakers and regulators in emerging economies. Primarily, the existence of market volatility is attributed to weak governance, irrational behavior of market participants, the liberation of financial policies and sociopolitical turbulence. Therefore, the present study provides simultaneous empirical evidence to determine whether corporate governance, investor sentiment and financial liberalization hinder or spur downside risk in an emerging economy. Furthermore, the work relates to a small number of studies that examine the role of socio-political turbulence as a moderator on the relationship of corporate governance, investor sentiment and financial liberalization with downside systematic risk.

The purpose of this study is to reconcile the positive, non-significant and even negative effects of guanxi on firm performance from two aspects. First, it explores the linear and curvilinear relationships between guanxi and distinct performance dimensions. Second, it examines the moderating effects of both exchange-related behavioral risk (reflected by contract enforcement in this study) and market-related environmental risk (reflected by market turbulence in this study) on the above relationship.

Based on data for 206 samples collected from distributors of house furnishings, computers and their components, a moderated regression is used to test the hypotheses.

The empirical test generally supports the conceptual model and demonstrates three findings. First, guanxi has a linear, positive effect on financial performance and an inverted U-shaped effect on strategic performance. Second, contract enforcement decreases the effect of guanxi on financial performance and enhances its effect on strategic performance. Third, market turbulence enhances the effect of guanxi on financial performance and weakens its effect on strategic performance.

First, this study collects data only from China. Future studies should collect data from other emerging markets to allow for either model validation or cross-country comparisons. Second, the data come only from buyers, and suppliers’ viewpoints are not included. Third, in addition to contract enforcement and market turbulence, other important contingencies should be considered in the guanxi–performance link.

The results provide important implications for managers to manage guanxi in an emerging economy. Managers should be very clear about their primary goal (i.e. pursuing short-term financial revenue or long-term strategic targets); next, they should understand how to match guanxi with various levels of contract enforcement and market turbulence to achieve that goal.

First, prior research has documented guanxi’s role in channel relationships, but it has not achieved consistent conclusions. Second, although existing studies have analyzed the contingencies of guanxi at the firm level, market level and institutional level, another important contingency “the dyadic relationship condition” is rarely considered. Third, although the extant research has realized the value of guanxi contingent on various market conditions, conflicting views exist. This study contributes by addressing these issues.

The purpose of this paper is to propose a relational view of supply chain management strategy (RSCMS) and its impact on organizational performance and examine the moderating role of technological and market turbulences on these relationships.

The authors propose a conceptual model that links supply chain (SC) strategies to operational and relational outcomes of organizational performance. The authors follow an interdisciplinary approach by integrating insights from domains such as supply chain management (SCM), operations, marketing, management, management information systems, and technology management.

The proposed RSCMS framework presents 15 propositions that examine SCM strategies and their interrelationships, and examine how these strategies result in superior organizational performance.

Through the RSCMS framework, the authors conceptualize transformation as a higher order SC strategy resulting from collaborative and integrative SCs, and tie the relational SC mix first to operational and relational outcomes and then to organizational performance.

The research provides a better understanding of SC strategies of collaboration, integration, and transformation, along with market and technological turbulences for more efficient and effective SCs.

In this research, the authors propose a unified RSCMS framework of SC mix strategies of collaboration, integration, and transformation and their influence on organizational performance; and explore how the RSCMS framework contributes to theory development, provide insights for managers, and explore avenues for further research.

The aim of this paper is to empirically examine whether environmental turbulence leads to the adoption of high-performance work systems (HPWS) and learning orientation (LO) in organizations and, if so, how these two elements contribute to innovativeness. Past research studies widely demonstrated that HPWS and LO are strong determinants of innovativeness. This study incorporates environmental turbulence as an antecedent and explains the interactions between these concepts.

This paper involves a questionnaire-based survey of 233 firms. For hypothesis testing, structural equation modeling (SEM) was used.

The results revealed the antecedent role of environmental turbulence in HPWS and LO. Additionally, HPWS and LO mediated the relationship between environmental turbulence and organizational innovativeness.

This research has the limitations of a cross-sectional study design. The study draws out some implications for firms facing turbulent conditions and intending to increase their innovativeness by stimulating a learning culture and focusing on human capital through HPWS.

The overarching contribution of this study is to test the assumption that organizations initiate changes in their internal systems as a response to environmental turbulence. By doing so, the study enriches current studies by exploring the mediator role of HPWS and LO between environmental turbulence and innovativeness. This research also contributes to the literature by demonstrating the antecedent role of environmental turbulence in HPWS for the first time. Additionally, it provides evidence for the relationship between environmental turbulence and LO.

What leads to new product success (NPS) is a very complex issue. Although prior research widely demonstrates that entrepreneurial orientation (EO) is a determinant for NPS and environmental turbulence is a form of unpredictability which impacts on the success of a product, little research has been conducted to examine if and to what extent environmental turbulence induces the EO behaviors of a firm and how these behaviors contribute to NPS. The paper aims to discuss these issues.

This study, which used data collected from 244 China-based electronics manufacturers, proposed and tested the theoretical relationships among the three constructs in the context of the electronics industry in China.

Results revealed that the three dimensions of EO (innovativeness, proactiveness and risk-taking) drive NPS. Environmental turbulence strongly influenced all three dimensions of EO, though its influence on NPS was mixed as there existed a strong negative but insignificant direct association between the two constructs. Innovativeness, which was found to be most effective in driving NPS in the EO and NPS relationship, was relatively less responsive to environmental turbulence than proactiveness. The study confirmed the postulated role of environmental turbulence in inducing the EO behaviors of a firm, signaling environmental turbulence, if tactfully leveraged, can play a positive role in new product development (NPD).

The study is quantitative using data emanating from the electronics manufacturing industry in China, further empirical study would be useful to verify and complement the results in other industries and other countries.

This study contributes to the scholarly inquiry of EO and NPD by exploring the influences of environmental turbulence and EO on NPS. As environmental turbulence induces EO and EO mediates the relationship between environmental turbulence and NPS, simultaneous consideration of these two constructs can lend useful insight into their joint impacts on NPD. Theoretical and managerial implications were examined and policy implications, especially the practicality of the findings to policymakers in China, were discussed.

This study aims to explore the interface of competitive productivity (CP) levels in times of turbulence.

Drawing from a sample of 507 Athenian holidaymakers, the study uses a fuzzy-set qualitative comparative analysis (fsQCA) to examine the chaordic systems amongst perceived risks (social; destination; price; quality) in tourism purchasing intentions. It considers three grouping variables (age; monthly income; trip [domestic; overseas]). It further evaluates the effect sizes of those risks upon purchasing intentions by complementary using necessary condition analysis (NCA).

fsQCA revealed three sufficient configurations: price-quality nexus (micro); generated experience (meso) and perceived destination image (macro). NCA showcased that the effect size of the examined perceived risks is relatively low, while destination risks have the highest impact.

Only a few studies use fsQCA and NCA in the field of tourism and hospitality studies thus, their full potential and implications of exploring the interface of tourism decision-making components with CP levels are still unexplored.

This is the first study examining the nonlinearity of risk-induced decision-making triggers of holidaymakers affected by the recession in line with the principles of CP. Its theoretical contribution lays in the exploration of the interface of CP and its three levels of application (micro [tourist], meso [firm/business], macro [destination]) in times of turbulence. Managerially, it strengthens the assumption that CP and customer loyalty are strongly associated even in times of turbulence when destinations and firms should make a strong point to maintain their competitive edge. Methodologically, the study highlights the value of fsQCA for identifying multiple pathways, a relatively new method in tourism. Furthermore, it introduces NCA, a new complementary method in tourism research.

Companies need guidance on how to operate in turbulent environments to improve their innovative performance. However, few studies have been done specifically about how to market and technological turbulence affects the innovative performance in emerging markets. This paper aims to propose model with market turbulence, technological turbulence and firm’s bricolage behavior as antecedents of organizational innovativeness.

Two conceptualizations of the role of environmental turbulence are examined as follows: that market turbulence and technological turbulence are established as direct antecedents to organizational innovativeness performance; and the model has a mediating effect through the bricolage behavior. In this sense, the strengths of the paths differ depending on the presence of bricolage. Data were collected from 215 firms operating in Brazil, analyzed using the partial least squares (PLS)-structural equation modeling (SEM) technique as a quantitative method to test the hypotheses.

The results indicate that the mediating effect evidenced by the bricolage behavior was supported. In other words, the path from market and technological turbulence to organizational innovativeness is significantly better when permeated by bricolage behavior in the organization.

It can be suggested to conduct similar research with larger sample size and applying control variables such as the size of the company, as smaller companies have less access to resources and maybe the engagement in bricolage can be even more substantial for them to keep innovating and to remain competitive in times of turbulence.

Some managerial recommendations and implications are provided. Managers should recognize the possible improvements in the organizational innovativeness development by actively including the bricolage behavior among their companies’ activities.

The theoretical contribution to the academic knowledge lies in corroborating with previous studies, which pointed out that bricolage has an influence on a firm’s innovativeness and some studies, which address perspectives in the organizational learning field.