關於動態能力的測量

Abstract

ABSTRACT

In this paper, we construct a universally applicable measure by which the dynamic capability of any one firm, for a given period, may be expressed and analytically compared to that of others in the system, based on readily available, critically unambiguous, financial statement data. In order to express the capacity for dynamic capability mathematically we employ the beta coefficient of a simple linear regression equation that examines the covariance of a target firm’s pre-tax operating margin change against the aggregate mean change of pre-tax operating margin for all companies within the system. Utilizing the net change in pre-tax operating margin for the system, we may then calculate the change in pre-tax operating for a target firm that may be ascribable to the function of this capacity for dynamic capability. We contend this last measure constitutes a measurement of the effectiveness of dynamic capability on firm performance for a given period. We validated the proposed measurement with about 2000 public companies in the US during 2002-2011.

ABSTRACT

In this paper, we construct a universally applicable measure by which the dynamic capability of any one firm, for a given period, may be expressed and analytically compared to that of others in the system, based on readily available, critically unambiguous, financial statement data. In order to express the capacity for dynamic capability mathematically we employ the beta coefficient of a simple linear regression equation that examines the covariance of a target firm’s pre-tax operating margin change against the aggregate mean change of pre-tax operating margin for all companies within the system. Utilizing the net change in pre-tax operating margin for the system, we may then calculate the change in pre-tax operating for a target firm that may be ascribable to the function of this capacity for dynamic capability. We contend this last measure constitutes a measurement of the effectiveness of dynamic capability on firm performance for a given period. We validated the proposed measurement with about 2000 public companies in the US during 2002-2011.