Rethinking business performance in global value chains
构建了一个理论框架，将企业绩效分解为运营效率、市场有效性和财务韧性三个可能相互强化或冲突的系统，并考察它们对盈利、增长和偿付能力的影响，帮助理解逆境下企业绩效的复杂动态。
This paper develops a theoretical foundation for rethinking business performance in global value chains amid the Covid-19 fallout. Specifically, we synthesize business performance into three potentially reinforcing but also conflicting performance systems: 1) operational efficiency, 2) market effectiveness and 3) financial resilience to examine their effect on a) profitability, b) growth and c) solvency. While some specific measures of business performance will suffice in times of stability and growth, they could make firms operating in global value chains vulnerable in times of adversity. Our comprehensive theoretical framework contributes to our understanding of the dynamic interplay of conflicting performance systems. We discuss implications for assessing business performance and provide directions for further research.