Examining the effects of technological capabilities on value creation: Mediated moderation role of disruptive business model and market turbulence

Q1 Economics, Econometrics and Finance

Journal of Open Innovation: Technology, Market, and Complexity Pub Date : 2025-10-03 DOI:10.1016/j.joitmc.2025.100658

Sandy Osei , Ahmed Agyapong , Desmond Tutu Ayentimi , Benjamin Cobbinah

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Abstract

This study investigates how technological capabilities (TC) influence value creation (VC) among manufacturing SMEs in an emerging market context, drawing on the Resource-Based View (RBV) and Dynamic Capabilities Theory (DCT). It further explores the mediating role of disruptive business models (DBMs) and the moderating effect of market turbulence (MT) on these relationships. Using a time-lagged, multi-source survey of 399 manufacturing SMEs in Ghana, data were analyzed using Hayes PROCESS macro (Models 4 and 14) to test for direct, indirect, and moderated mediation effects. The results suggest that TC significantly enhances VC, both directly and indirectly through DBMs. Moreover, MT positively moderates the DBM–VC relationship, amplifying the indirect effect of TC on VC under high market turbulence. The results underscore the importance of aligning technological investments with business model innovation, especially in dynamic and resource-constrained environments. The study offers theoretical contributions to RBV and DCT and provides practical and policy implications for SMEs in emerging markets.

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技术能力对价值创造的影响研究：颠覆性商业模式与市场动荡的中介调节作用

本文运用资源基础理论（RBV）和动态能力理论（DCT），探讨了新兴市场背景下制造业中小企业的技术能力（TC）对价值创造（VC）的影响。本文进一步探讨了颠覆性商业模式（DBMs）的中介作用以及市场动荡（MT）对这些关系的调节作用。通过对加纳399家制造业中小企业的时间滞后、多源调查，使用Hayes PROCESS宏观（模型4和14）对数据进行分析，以检验直接、间接和调节的中介效应。结果表明，TC通过数据库直接或间接地显著提高了VC。此外，MT正向调节DBM-VC关系，放大了市场剧烈波动下TC对VC的间接影响。研究结果强调了将技术投资与商业模式创新相结合的重要性，特别是在动态和资源受限的环境中。该研究为RBV和DCT提供了理论贡献，并为新兴市场的中小企业提供了实践和政策启示。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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