Financial performance of firms with supply chains during the COVID-19 pandemic: the roles of dynamic capability and supply chain resilience
研究基于资源与知识基础理论，将动态能力分为资源型和知识型，通过台湾158家制造企业数据发现知识型动态能力对财务绩效和供应链韧性至关重要，而资源型动态能力反而抑制财务绩效。
Purpose This study proposes an integrated model to explore the relationships between dynamic capability and supply chain resilience (SCRE) and the relationships' impacts on firms' financial performance with supply chains (FPwSC) during the coronavirus disease 2019 (COVID-19) pandemic. Design/methodology/approach Based on resource-based theory and knowledge-based theory, the dynamic capability is classified into resource-based dynamic capability (RBDC) and knowledge-based dynamic capability (KBDC). The study collects 158 useable survey samples from manufacturers in Taiwan and analyzes the samples with the structural equation model. Findings The results show that knowledge is power; KBDC is crucial for FPwSC, SCRE and RBDC. In addition, SCRE mediates the relationship between KBDC and FPwSC. Finally, RBDC significantly suppresses FPwSC. Research limitations/implications Future researchers could replicate this study in other industries and expand this to other countries to generalize the results. Practical implications A firm with KBDC can adopt and implement strategies that exploit its internal strengths to respond to environmental opportunities, overcome internal weaknesses and mitigate external threats. Furthermore, a firm should fully utilize SCRE with proactive and reactive strategies. Exercising a firm's KBDC could facilitate SC collective intelligence to handle the risk of SC disruption and vice versa. Originality/value The study is the first to combine KBDC, RBDC and SCRE into an integrated model for FPwSC. Moreover, this study reveals that resilience relies on knowledge, not resources, as evidenced by SCRE being affected significantly by KBDC but not RBDC.