Abstract：Dynamic capabilities are the capacities of a firm to purposefully create,extend and integrate its resources base.The purpose of this article is to analyze the effects of dynamic capabilities on innovation performance.Firstly,an integrative framework of four levels including innovation subjects,dynamic capabilities,operational capabilities,and resource portfolio is constructed according to the objects,behavior and subjects of capabilities.Then,dynamic capabilities are disaggregated into four elements such as sensing,learning,integrating and innovating capabilities and their relationships with innovation are discussed.Lastly,a longitudinal case of CSR's bullet train from 2005 to 2011 is analyzed to test the relevant conclusions.The findings that dynamic capabilities have indirect effects on innovation performance by updating operational capabilities and resource portfolio are proposed.
2014, 
