Purpose

Firms aiming to enhance firm performance require specific investment and qualification of capability. However, the relationship between these factors and firm performance is influenced by boundary conditions. This study focuses on the role of shared values as a governance mechanism in moderating the relationship between specific investment, qualification of capability, and firm performance.

Design/methodology/approach

Drawing on transaction cost analysis, the authors develop a theoretical model to explore how shared values moderate the relationship between specific investment, qualification of capability, and firm performance. The authors collected data from 156 firms in Cote d’Ivoire, resulting in a sample of 216 observations. The authors employed hierarchical regression analysis and the “pick-a-point approach” to examine how specific investment and qualification of capability impact firm performance at different levels of shared values.

Findings

The results indicate that specific investment and qualification of capability have a partially positive impact on firm performance. Interestingly, shared values are an important moderating variable, acting as a boundary condition that affects the relationship between specific investment, qualification of capability, and firm performance. Specifically, specific investment leads to excellent firm performance only when shared values are not sufficiently high, whereas qualification of capability leads to superior firm performance only when shared values are sufficiently high.

Research limitations/implications

This study has three research implications. First, this study enriches TCA literature by identifying shared values as a boundary condition and examining the moderating role of shared values. Second, the study findings discover new insights into how specific investment and qualification of capability enhance or inhabit organizational performance at different levels of shared values. Third, this study extends the existing research and reveals the specific conditions for positive or negative relationships between specific investment and organizational performance and qualification of capability and organizational performance.

Practical implications

First, compared to specific investment, qualification of capability has greater effect on organizational performance. Second, when considering whether to increase specific investment or/and improve qualification of capability, executives are encouraged to first evaluate their firm's level of shared values and then make appropriate strategic decision accordingly. Third, six tactics are recommended for enhancing shared values.

Originality/value

This study enriches the literature on transaction cost analysis and contributes to understanding the moderating role of shared values. The findings shed light on the specific investment, qualification of capability, and firm performance relationships. Additionally, this research highlights the importance of considering shared values as a boundary condition in examining these relationships.

中文翻译：

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具体投资和能力资格是否促进或阻碍公司绩效：共同价值观的调节作用

目的

旨在提高公司绩效的公司需要特定的投资和能力资格。然而，这些因素与企业绩效之间的关系受到边界条件的影响。本研究重点关注共享价值观作为治理机制在调节特定投资、能力资质和公司绩效之间关系方面的作用。

设计/方法论/途径

作者利用交易成本分析，建立了一个理论模型，探讨共享价值观如何调节特定投资、能力资质和公司绩效之间的关系。作者收集了科特迪瓦 156 家公司的数据，得出了包含 216 个观察值的样本。作者采用层次回归分析和“选择点方法”来研究特定投资和能力资格如何影响不同共享价值观水平上的公司绩效。

发现

结果表明，特定投资和能力资质对企业绩效具有部分正向影响。有趣的是，共同价值观是一个重要的调节变量，作为影响特定投资、能力资质和公司绩效之间关系的边界条件。具体而言，只有当共享价值不够高时，特定投资才会带来优异的企业绩效，而只有当共享价值足够高时，能力资格才会带来优异的企业绩效。

研究局限性/影响

这项研究具有三个研究意义。首先，本研究通过将共同价值观确定为边界条件并检验共同价值观的调节作用，丰富了 TCA 文献。其次，研究结果发现了关于特定投资和能力资格如何在不同层面的共同价值观下增强或抑制组织绩效的新见解。第三，本研究扩展了现有的研究，揭示了特定投资与组织绩效以及能力资质与组织绩效之间正向或负向关系的具体条件。

实际影响

首先，与具体投资相比，能力资质对组织绩效的影响更大。其次，在考虑是否增加专项投资或/和提高能力资质时，鼓励高管首先评估公司的共享价值观水平，然后据此做出适当的战略决策。第三，提出了增强共同价值观的六种策略。

原创性/价值

这项研究丰富了交易成本分析的文献，并有助于理解共同价值观的调节作用。调查结果揭示了具体投资、能力资格和公司绩效关系。此外，这项研究强调了在检查这些关系时将共同价值观视为边界条件的重要性。