资源配置视角下战略调整测度及其对绩效的影响

Abstract

Abstract: Notwithstanding that strategic changes significantly affect performance, there are conflicting results regarding the measurements of strategic changes and trajectory sketched. In this paper, a feasible way to measure strategic changes using a key strategic resource allocation vector is proposed. the angle, amplitude and total amount of strategic changes are approximated by the angle variation, norm variation and radians variation of the vector respectively. Our sample contains 1317 listed companies in China. The data of their annual report from 2005 to 2012 is collected, and the relationship between strategic changes and performance is examined. The results are intuitive. We suggest that strategic changes affect performance in an adaptive and disruptive way. We find that as the level of strategic changes increases, the adaptive effect declines and the disruptive effect increases. Last but least, the inverted U-shaped relationship between strategic changes and performance is also found. Our findings can be interpreted as a theoretical evidence for further exploring functional relationship between strategic changes and performance, and a reference for optimal decision-making in strategic changes.

Key words: strategic change, firm performance, resource allocation, adjustment angle variation

CLC Number:

F270.3

LI Chuan-guo, CHEN Shou, MAO Chao, LIU Duan. The Measurement of Strategic Change and Its Impact on Performance From the Perspective of Resource Allocation[J]. Chinese Journal of Management Science, 2014, 22(11): 19-26.

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The Measurement of Strategic Change and Its Impact on Performance From the Perspective of Resource Allocation

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