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Dynamic capabilities and performance in exporting SMEs during economic downturn

The paper examines the influence of dynamic capabilities (DCs) on firm’s performance during the recent economic downturn (2008-2011). In the baseline model, the direct impact of market-sensing and innovation DCs on performance are inspected. Theoretical framework of the study was drawn from organizational learning theory and resulted in three research hypotheses. The empirical study was carried out on the sample of 118 SMEs in Croatia that have continuous export activity. The findings suggest that DCs have a direct and positive impact on the firm’s performance. Also, the findings suggest that innovation capabilities partially mediate the link between market-sensing and performance outcomes. In the end, this study offers valuable theoretical and practical implications within the constituent fields of international marketing.

Dynamic capabilities, Economic downturn, Exporting, SMEs

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