Dynamic capabilities and governance: An empirical investigation of financial performance of the higher education sector
研究了美国公立大学资源分配灵活性对财务绩效的影响，发现当外部治理允许更大支出自主权时，灵活性对预算盈余的促进作用更强。
Abstract Research Summary We postulate that resource allocation decisions consistent with dynamic capabilities can improve financial performance, but that governance moderates the relationship between resource allocation flexibility and financial performance. Using more than a decade of data on US public universities, we find that flexibility has much more impact when matched by lower levels of governance that allow greater expenditure autonomy for university executives and administrators. Managerial Summary Organizations are increasingly subject to conflicting demands imposed by their institutional environments. Given the importance of governance arrangements, we apply strategic management concepts to public universities and investigate the effect of external governance arrangements on university performance. We show that universities that reallocate resources more regularly are more likely to run larger budget surpluses. This is far more likely to be true at universities where external governance arrangements allow greater executive discretion.