Towards an understanding of the nature of dynamic capabilities in high-velocity markets of China
研究了中国十个高速行业中跨国公司的动态能力，发现这些能力是分析性、战略性、高频的流程，依赖全球与本地知识的结合，并受环境速度和所有权优势影响。
Dynamic capabilities are arguably of more value in the internationalization process, particularly of multinational companies (MNCs) that operate in highly dynamic international markets. Yet there is a scarcity of research on the nature of dynamic capabilities in such highly relevant contexts. This exploratory study presents observations of dynamic capabilities of MNCs operating in ten tightly-defined high-velocity industries of China that shed light on the nature of the concept. The findings suggest that (1) dynamic capabilities of MNCs in high-velocity markets are analytic, strategically planned high-frequency processes and routines, (2) they are highly complicated, and (3) they rely extensively on combined knowledge derived from global and local knowledge. They are likely influenced by diverse sources of environmental velocity and the degree of the MNC's ownership advantages. The complexity and sophistication observed have led us to propose a way to conceptualize dynamic capabilities of MNCs in high-velocity markets.