| dc.description.abstract | The Dynamic Capabilities perspective is an outstanding theoretical lens in the scope of strategic management, considering that its focus is on driving firms to superior performance. In this scenario of discussions, several perspectives of concepts and forms of analysis are observed, which end up reflecting on the difficulty of consensus on this theme. The studies, so far, have not addressed this theme in a longitudinal manner and with objective metrics, being found in the literature, predominantly, short-term analyzes, with the use of questionnaires, subjective metrics (perception of managers) and measuring the capacities of specific areas of the firms. A longitudinal approach is necessary, as well as an assessment of the multiple dimensions of performance that comprise the firm, since it would allow a more complete view on the development, accumulation and effects of Dynamic Capabilities along the trajectory of organizations and, consequently in its performance. Therefore, the aim of the present study was to investigate the effect of the presence and articulation of Dynamic Capabilities, in multiple dimensions of performance, through a longitudinal analysis. To enable further research, a new objective metric for measuring Dynamic Capabilities was built on the Sensing, Seizing and Reconfiguring pillars, through a textual analysis at the firm level, using a longitudinal panel research design. The performance metrics covered four different dimensions: profitability performance; market performance; growth performance and management performance. The sample used ninety publicly traded Brazilian firms, listed on the Bovespa, between 2009 and 2019, totaling 990 observations. To assess whether the effects of Dynamic Capabilities on performance are different according to environmental dynamism, the sample was segmented by the level of technological intensity. The results of this study were different in the effects of Dynamic Capabilities in relation to performance metrics. In the Reconfiguring pillar, there were positive effects in certain performance dimensions (Return on Assets and Revenues) for all groups of firms. In other dimensions, as well as in the Sensing and Seizing pillars and in the interaction between the three pillars, the results diverged, which may suggest that Dynamic Capabilities do not always lead to better performance. The present study advances methodologically, with the use of a differentiated approach to research in the scope of strategic management, through innovation in the way of measuring Dynamic Capabilities, considering a textual analysis of the objective data of the firm. These results and the applied methodology contribute to deepen the debate about the role of Dynamic Capabilities and its pillars in the organizational trajectory and in the different approaches that constitute performance. | en |
