中文摘要：

基于动态能力和社会资本理论,深入分析企业动态能力和社会关系对企业绩效的作用机制,并在此基础上考察企业运作能力的中介作用和环境动态性的调节效应。针对企业管理层发放并收集到164份有效问卷,采用结构方程模型和调节效应的检验方法对研究假设进行实证检验。研究结果表明：（1）动态能力与企业绩效之间无显著直接关系,运作能力在其中发挥了中介作用,动态能力根据外界环境变化对运作能力进行重构,而重构后的运作能力能够有效提升企业绩效。（2）企业社会关系不对企业绩效产生直接作用,而是通过提升运作能力而间接作用于企业绩效。（3）环境动态性能够有效调节运作能力的中介作用。在低度动态环境条件下,运作能力在企业动态能力、社会关系与企业绩效关系间起完全中介作用,而在高度动态环境条件下起部分中介作用。（4）在任何环境条件下,动态能力对企业绩效的作用均大于社会关系对企业绩效的作用。

英文摘要：

Business environment and competition among firms are becoming increasingly dyunmic and intanse becanse of the rapid developmant of economic globalization. The industry and academia are particularly interested in learning how to enhance firms＇ capabilities to facilitate environmental adaptability and achieve excellent performance. As a higher-order capability, dynamic capability enables firms to reconstruct their various resources and capabilities to adapt to turbulent business environment. Some scholars consider the dynamic capability as an important factor affecting firm＇s performance. Social ties, which are the firm＇s informal and valuable resources in Chinese cultural context, play significant roles in substituting the formal rules to some extent and improving the process of operation and resources acquisition. Thus, social ties are also beneficial to firm＇s performance. However, the current literature has inconsistent findings about how dynamic capability and social ties influence firm＇s performance. Some scholars believe dynamic capability and social ties have a direct effect on firm＇s performance, while some other scholars argue there are mediating variables between these relationships. In addition, some research finds that under different environmental dynamisms, the relationship between dynamic capability and performance would be different because environmental dynamism may have moderating effect on the relationship. Unfortunately, there is no verification in the research about whether and how the relationship between dynamic capability and performance varies under different environmental dynamisms. This situation is also applied to the relationship between social ties and performance. Therefore, this paper carefully analyzes the mechanism of dynamic capability, social ties and firm＇s performance on basis of dynamic capability theory and social capital theory. Moreover, this study examines the mediating effect of operational capability and moderating effect of environmental dynamism. This