Testing the Time‐Variancy of Explanatory Factors of Strategic Change1
提出一个实证框架，检验战略变化的适应性与惯性观点，并发现解释因素的效果随时间变化，表明战略变化模型具有时间或情境依赖性。
The article proposes an empirical framework able to: (1) assess the relative validity of both adaptive and inertial views of strategic change and (2) verify the potential time‐ or context‐dependency by testing the structural stability of the empirical model, in Spanish banks, 1983–1997. Results offer inconclusive findings regarding (1) but strong evidence to answer (2). The assumption of structural stability is rejected and the effect of many explanatory factors considered in the empirical model varies over time as some factors show different effects and/or significance levels depending on the period considered. These findings suggest that explanatory models of strategic change should be viewed as ‘time‐’ or ‘context‐dependent’. The article provides a conceptual model in which alternative explanations operate in a sequential way. The results highlight, first, that inconclusive past findings about adaptive versus inertial views should be reviewed under this new evidence, and future empirical research must assure that its methods and interpretations are robust to potential structural breakdowns; and second, the limitations raised by the static approach offered by the available theories/models when approaching the dynamic and complex nature of strategic change. Theoretical developments and implications for managerial practice are suggested.