The impact of dynamic capabilities on SME performance during COVID-19

Marcus Dejardin (), Mario L. Raposo (), João J. Ferreira (), Cristina I. Fernandes (), Pedro M. Veiga () and Luís Farinha ()
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Mario L. Raposo: Universidade da Beira Interior
João J. Ferreira: Universidade da Beira Interior
Cristina I. Fernandes: Universidade da Beira Interior
Pedro M. Veiga: Polytechnic Institute of Viseu
Luís Farinha: NECE Research Unit in Business Sciences

Review of Managerial Science, 2023, vol. 17, issue 5, No 7, 1703-1729

Abstract: Abstract Dynamic capabilities (DCs) are a growing field of research within the scope of theoretical structures based on resource and strategic management. Given the demonstrated impact of DCs on company performance, it is important to study the effects of DCs on small and medium sized enterprises (SMEs) within the context of the COVID-19 pandemic. Hence, this research evaluates the role of DCs during the pandemic and its impact on the performance levels of SMEs. Analysing the responses of 209 SMEs using a structural equations model, we report that DCs positively affect company performance both prior to and during the pandemic. However, we also verify that while prior to the pandemic companies placed greater emphasis on the search for new opportunities, following the onset of the pandemic the focus shifted to getting their products to the market. These results contribute to the literature on strategic management and the DC based approach during periods of turbulence and pandemics.

Keywords: Dynamic capabilities; SME; Performance; COVID-19 pandemic (search for similar items in EconPapers)
JEL-codes: L10 M10 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s11846-022-00569-x

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