Ma ín-Idá aga, Diego A mando; Hu ado González, José Manuel; Cabello Medina,
Ca men
A icle
Fac o s a ec ing he e ec o exploi a ion and explo a ion
on pe o mance: A me a-analysis
BRQ Business Resea ch Qua e ly
P o ided in Coope a ion wi h:
Asociación Cien í ica de Economía y Di ección de Emp esas (ACEDE), Mad id
Sugges ed Ci a ion: Ma ín-Idá aga, Diego A mando; Hu ado González, José Manuel; Cabello
Medina, Ca men (2022) : Fac o s a ec ing he e ec o exploi a ion and explo a ion on
pe o mance: A me a-analysis, BRQ Business Resea ch Qua e ly, ISSN 2340-9444, Sage Publishing,
London, Vol. 25, Iss. 4, pp. 312-336,
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In oduc ion
The concep s o exploi a ion and explo a ion p oposed by
Ma ch (1991) ha e become a e e en ial amewo k o
explain o ganiza ional pe o mance (e.g., Belde bos e al.,
2010; Bie ly & Daly, 2007; Hsu e al., 2013; Ma ín-
Idá aga e al., 2016; Ojha e al., 2018; Yuen e al., 2019).
Whe eas exploi a ion is he e inemen o cu en compe-
encies by means o “choice, p oduc ion, e iciency, selec-
ion, implemen a ion and execu ion,” explo a ion implies
expe imen ing wi h new al e na i es, which in ol es
“sea ch, a ia ion, isks aking, expe imen a ion, lexibil-
i y and disco e y” (Ma ch, 1991, p. 71).
As exploi a ion and explo a ion compe e o sca ce
esou ces, i ms ha e o make explici o implici choices
be ween one o he o he (Li & Wang, 2019; Ma ch, 1991).
As a esul , some schola s s a e ha exploi a ion and
explo a ion, as well as he p ac ices, p ocesses, and o ms
ha suppo hem, end o be incompa ible and mu ually
exclusi e, in line wi h he pa adox o s abili y and change
adi ionally add essed in adminis a ion esea ch (Fa joun,
2010). F om his iew, i ms may all o some so o
myopia when hey mus sac i ice he sho e m o he
long e m o ice e sa ega ding he expec ed bene i s.
These decisions imply ha exploi a ion and explo a ion
ep esen subs i u e s a egies and en ail in e sely co e-
la ed associa ions, which indica es ha he mo e exploi a-
ion he e is, he less explo a ion, and ice e sa (Bie ly &
Fac o s a ec ing he e ec o
exploi a ion and explo a ion on
pe o mance: A me a-analysis
Diego A mando Ma ín-Idá aga1, José Manuel Hu ado González2
and Ca men Cabello Medina2
Abs ac
F om a con ingency iew, we aim o con ibu e o a be e unde s anding o how exploi a ion and explo a ion in luence
pe o mance. By conduc ing a me a-analysis, we aim o answe he ollowing esea ch ques ion: How do subs an i e
mode a o s (slack esou ces, o ganiza ional s uc u e, in e -o ganiza ional ela ionships, compe i i e in ensi y, and
en i onmen al dynamism), ex insic mode a o s ( egion, size, and sec o ) and me hodological mode a o s (da a sou ces
and pe o mance measu emen ) a ec he impac o exploi a ion and explo a ion on pe o mance? The esul s o
he me a-analysis, including 328 co ela ions, 102 s udies, and a sample o 41,298 cases, sugges ha he in luence o
exploi a ion and explo a ion on pe o mance depends on he p esence o he mode a ing ac o s included in ou analysis.
Fu he mo e, some o hese ac o s a e ele an o explaining a be e pe o mance o exploi a ion e sus explo a ion,
while o he mode a o s do no de e mine a di e en e ec o exploi a ion and explo a ion on pe o mance.
JEL CLASSIFICATION M10; M19; O3
Keywo ds
Exploi a ion, explo a ion, pe o mance, mode a ing ac o s, me a-analysis
1 Academic A ea o Managemen , Facul y o Economic-Adminis a i e
Sciences, Jo ge Tadeo Lozano Uni e si y, Bogo a, Colombia
2 Depa men o Managemen and Ma ke ing, Pablo de Ola ide
Uni e si y, Se ille, Spain
Co esponding au ho :
José Manuel Hu ado González, Depa men o Managemen and
Ma ke ing, Facul y o Business S udies, Pablo de Ola ide Uni e si y,
C a. de U e a, km1, ES-41013 Se ille, Spain.
Email: [email p o ec ed]
972707BRQ0010.1177/2340944420972707Business Resea ch Qua e lyMa ín-Idá aga e al.
esea ch-a icle2020
Regula Pape
Ma ín-Idá aga e al. 313
Daly, 2007; Li e al., 2010), whe e he p i ilege owa d one
p oduces a neglec o he o he (Adle e al., 2009;
Le in hal & Ma ch, 1993; Tu ne e al., 2013).
The pe spec i es ha analyze and es ablish explo a ion
and exploi a ion compe encies as con a y o subs i u es,
igno e he alue o o ganiza ional lea ning and he syne -
gies ha knowledge p oduces on pe o mance (Bie ly &
Daly, 2007). The e o e, as an al e na i e o he op ics o
he exchanges be ween exploi a ion and explo a ion, an
ex ensi e line o esea ch eme ges ha has shown he
complemen a y na u e be ween hem (Kno , 2002). The
s udies in his line o esea ch p opose he hesis o he
complemen a y balance be ween exploi a ion and explo a-
ion as a condi ion ei he o simul anei y (ambidex e i y)
o o sepa a ion in he o m o a successi e cycle, whe e
acco ding o en i onmen al and o ganiza ional ci cum-
s ances, bo h logics can coexis o be al e na ing and ecu -
si e in he sea ch o imp o e o ganiza ional pe o mance
(Gilsing & Noo eboom, 2006; Lewin e al., 1999; Piao,
2014). These opposi e iews abou how exploi a ion and
explo a ion mus be managed (sepa a ely o simul ane-
ously) ha e unde mined he cla i y conce ning he in lu-
ence o each o hem on o ganiza ional pe o mance.
Con e sely, some esea che s ha e ques ioned hese
assump ions and a gue ha exploi a ion and explo a ion
may be complemen a y compe ences and ha hei bal-
ance may d i e a g ea e o ganiza ional pe o mance (e.g.,
Cen obelli e al., 2019; Gibson & Bi kinshaw, 2004; Jansen
e al., 2012; Junni e al., 2013; Kauppila, 2010; Luge
e al., 2018; Simsek e al., 2009; Solís-Molina e al., 2018).
Ano he eason may ha e con ibu ed o his lack o an
accu a e pic u e o how exploi a ion and explo a ion could
imp o e pe o mance. As Benne and Tushman (2003) and
Auh and Menguc (2005) ha e claimed, a con ingency
app oach is being ex ensi ely applied in he esea ch on
o ganiza ional lea ning in an a emp o unde s and unde
which condi ions exploi a ion and explo a ion ha e a g ea e
e ec on pe o mance. As mani es ed by He and Wong
(2004), “s udies ha e shown ha explo a ion and exploi a-
ion equi e subs an ially di e en s uc u es, p ocesses,
s a egies, capabili ies, and cul u es o pu sue and may ha e
di e en impac s on i m adap a ion and pe o mance” (p.
481). Consequen ly, a conside able numbe o mode a ing
a iables ha e been b ough o s udy his phenomenon, bo h
e e ing o indus y-le el ac o s and i m-speci ic mode a-
o s (Hei a i e al., 2017; Li & Wang, 2019; Muelle e al.,
2013; Pe usa-O ega & Molina-Azo ín, 2018). This,
oge he wi h he a ie y o me hods used, he geog aphical
con ex s, and he indus ies analyzed, has mean ha a e
almos h ee decades since he p oposal o James Ma ch,
esea ch on exploi a ion and explo a ion has no ye de e -
mined which o hem, unde a numbe o in e nal and con-
ex ual ac o s, may ha e a bigge impac on pe o mance.
Al hough some me a-analy ical s udies in he ield ha e
shown he mode a ing e ec o di e en a iables (Fou né
e al., 2019; Muelle e al., 2013), he e a e s ill o he unan-
alyzed condi ions and a iables ha can help o be e
unde s and he e ec o explo a ion and exploi a ion on
pe o mance.
In line wi h hose discussed by Guisado-González e al.
(2019), who iden i ied esea ch ha has no ye shown
conclusi e esul s (exploi a ion and explo a ion as com-
plemen a y, subs i u e, and independen ), we conclude ha
i is no ye clea how pe o mance beha es in he p esence
o exploi a ion and explo a ion, since we conside ha
he e a e a ious condi ions ha a ec he decisions o i s
subs i u abili y o complemen a i y. E en among schola s
who ecognize hem as complemen a y, i is no ye clea
whe he hey balance cyclically–al e na ely o simul ane-
ously. The e o e, ega ding pe o mance, we obse e ha
he impac i ecei es om exploi a ion and explo a ion
changes in he p esence o di e en con ingency ac o s
ha mode a e he ela ionship. Pe o mance he e is unde -
s ood as o ganiza ional e ec i eness in e ms o inancial
esul s (ROE, ROA, and ROS) and ma ke esul s (sales
g ow h a io, ma ke sha e, and Tobin’s Q), e alua ed bo h
objec i ely and subjec i ely (Venka aman & Ramanujam,
1986, 1987).
The p e ious e iew cons i u es he gap ha inspi ed
ou s udy, ca ied ou h ough a me a-analysis ha is an
ideal echnique o cla i y di e gences o con o e sies in a
pa icula heo e ical ield (Bo ens ein e al., 2009; Ca d,
2011). The e o e, we pose he ollowing esea ch ques ion:
How do di e en mode a o s a ec he impac ha exploi-
a ion and explo a ion ha e on pe o mance? In a me a-
analysis, di e en ypes o mode a o s can be iden i ied:
subs an i e, ex insic, and me hodological (Bo ens ein
e al., 2009; Lipsey & Wilson, 2001). Gi en ha he answe
o he ques ion equi es a con ingency, mo e han a uni e -
salis ic app oach, we p opose he analysis o subs an i e
mode a o s (slack esou ces, o ganiza ional s uc u e,
in e -o ganiza ional ela ionships, compe i i e in ensi y,
and en i onmen al dynamism), ex insic mode a o s
( egion, size, and sec o ) and me hodological mode a o s
(da a sou ces and pe o mance measu emen ). Fu he mo e,
we sepa a ely analyze he e ec o each mode a ing ac o
on he ela ionship be ween exploi a ion and pe o mance
and be ween explo a ion and pe o mance, since he com-
plemen a y in eg a ion (al e na ing o ambidex ous) does
no allow o iden i y hese e ec s independen ly, which is
he main objec i e o his s udy.
In his way, ou esea ch aims o p o ide a comp e-
hensi e iew o he indings om he o ganiza ional
adap a ion heo y and imp o es he unde s anding o
how exploi a ion and explo a ion in luence pe o -
mance.1 Ou me a-analysis has an impo an con ibu-
ion: i shows ha o imp o e pe o mance, decisions
ega ding in es men in exploi a i e and explo a o y
314 Business Resea ch Qua e ly 25(4)
ac i i ies a e in luenced by di e en con ingency ac-
o s, so ha slack and en i onmen al dynamism can
a o applica ion balanced on exploi a ion and explo a-
ion, ins ead o he ype o o ganiza ional s uc u e and
in e -o ganiza ional ela ionships leading o p i ilege
he subs i u abili y be ween exploi a ion and explo a-
ion. Fu he mo e, when compe i i e in ensi y inc eases,
companies dec ease hei exploi a i e and explo a o y
ac i i ies. Likewise, an addi ional con ibu ion o ou
me a-analysis is ha i demons a es ha he egion
whe e a s udy is ca ied ou , he size o he companies,
he echnology sec o , and he ways in which he da a a e
ob ained and pe o mance is measu ed, a ec he in lu-
ence ha exploi a ion and explo a ion ha e on pe o -
mance, such ha he e ec is s onge in s udies ca ied
ou in he Wes , in la ge companies in he high- ech sec-
o , and in he measu emen o a iables by su eys.
The a icle is di ided in o se en sec ions. In he second
sec ion, we add ess he heo e ical app oach o he con-
cep s o exploi a ion and explo a ion. In he hi d sec ion,
we p opose ou hypo heses ela ed o he mode a o a i-
ables ha could explain he di e en e ec s on pe o -
mance. In he ou h sec ion, he me a-analysis and he
me hod de eloped a e explained. The esul s a e desc ibed
in he i h sec ion. In he six h sec ion, we add ess he
discussion o he esul s as well as he main conclusions o
ou esea ch. Finally, he limi a ions and possible u u e
esea ch lines a e p esen ed.
Theo e ical amewo k
Figu e 1 illus a es he concep ual model.
Exploi a ion and explo a ion
The ini ial concep ion o Ma ch (1991) and Le in hal and
Ma ch (1993) ep esen ed an impo an challenge o sub-
sequen esea ch in he ield o o ganiza ional adap a ion,
consis ing o sol ing he pa adox ha implies ocusing
ei he on exploi a ion o explo a ion (A uahene-Gima,
2005; Lin e al., 2013). Gi en ha o ganiza ional esou ces
a e sca ce, he unde lying ques ion is how o combine
exploi a ion and explo a ion wi hou a ec ing pe o -
mance (Lee & Huang, 2012). Fo his eason, companies
ha e o choose o in es ei he in he e inemen and ex en-
sion o exis ing knowledge, skills, and p ocesses, o in he
acquisi ion o new knowledge, skills, and p ocesses (Chu
e al., 2011; Ka ila & Chen, 2008). The need o choose
o ces companies o apply exploi a ion and explo a ion in
a subs i u e o complemen a y way acco ding o hei
needs (Gup a e al., 2006).
De e mining whe he exploi a ion and explo a ion a e
subs i u e o complemen a y capabili ies has been one o
he main esea ch ques ions in his ield (And iopoulos &
Lewis, 2009; Bie ly & Daly, 2007; Kno , 2002; La ie
e al., 2010; Simsek, 2009; S e ne e al., 2014; Tu ne
e al., 2013). The empi ical s udies ha ha e analyzed he
ela ionship be ween bo h ha e shown con adic o y
esul s. As s a ed by Su e al. (2011), “al hough he signi i-
can pe o mance implica ions o explo a o y lea ning and
exploi a i e lea ning ha e been well documen ed, he issue
o whe he hey a e complemen a i ies o subs i u es s ill
emains a puzzle” (p. 697).
Some wo ks ha e demons a ed a nega i e and signi i-
can ela ionship (Beckman, 2006; Chu e al., 2011; Kim
Figu e 1. The concep ual model.
Sou ce: Own elabo a ion.
Ma ín-Idá aga e al. 315
e al., 2012; Ne ka , 2003; Voss e al., 2008), suppo ing
he a gumen ha , due o hei limi ed esou ces, i ms
ha e o decide be ween exploi ing and explo ing. This is
why hese compe ences end up as being exclusi e o sub-
s i u able (A uahene-Gima & Mu ay, 2007; Kim e al.,
2014; Li e al., 2010; Ma ch, 1991). Such esul s ein o ce
he idea o a ce ain ension be ween exploi a ion and
explo a ion and show ha some companies make disc e e
choices depending on he a ailabili y o esou ces o
o ganiza ional and en i onmen al condi ions (A uahene-
Gima, 2005; Gup a e al., 2006; La ie e al., 2010).
A second and b oade g oup o wo ks has shown a posi-
i e ela ionship be ween exploi a ion and explo a ion
(e.g., Auh & Menguc, 2005; Bie ly e al., 2009; Clausen
e al., 2013; Fang e al., 2012; Im & Rai, 2008; Li & Huang,
2013; Ro hae mel & Deeds, 2004), sugges ing ha i ms
can balance bo h o hem. Tha is, hey ake ad an age o
s o ed knowledge and os e con inuous imp o emen s o
achie e sho - e m pe o mance and, a he same ime, can
de elop new knowledge and echnologies o imp o e hei
long- e m pe o mance (Benne & Tushman, 2003; Bie ly
e al., 2009; La ie e al., 2011; Li e al., 2008). This bal-
ance ep esen s he complemen a i y be ween exploi a ion
and explo a ion (Bie ly & Daly, 2007; Kno , 2002).
Achie ing his balance is no an easy ask (Adle e al.,
2009; Fa joun, 2010), so he li e a u e has p oposed a i-
ous solu ions, which a e summa ized in wo pe spec i es.
The i s in ol es i s sepa a e applica ion, ei he s uc u -
ally, empo ally, o con ex ually, as a con inuous cycle,
known as balance by sepa a ion. The second implies i s
simul aneous applica ion, known as ambidex e i y
(O’Reilly & Tushman, 2013; Simsek, 2009). O ganiza ional
ambidex e i y has been analyzed in heo e ical and empi i-
cal esea ch o e e o an o ganiza ion’s abili y o simul a-
neously exploi and explo e (And iopoulos & Lewis, 2009;
Bi kinshaw & Gup a, 2013; Simsek, 2009). Ambidex ous
companies a e he e o e hose capable o e icien ly
exploi ing cu en capabili ies and explo ing new skills
wi h he same deg ee o skill (Benne & Tushman, 2003;
He & Wong, 2004).
Al hough exploi a ion, based on he use o local knowl-
edge, and explo a ion, h ough he ex e nal sea ch o new
knowledge, may sepa a ely a o o ganiza ional esul s
(Holmq is , 2004; Ne ka , 2003), he esea ch sugges s
ha he ambidex ous balance be ween he wo p oduces a
mo e signi ican impac on pe o mance. In his way,
adap abili y in he sho e m can be balanced wi h he
lexibili y necessa y o gua an ee du abili y in he long
e m, which leads o g ea e pe o mance o he o ganiza-
ion (Cao e al., 2009; He & Wong, 2004; Luba kin e al.,
2006).
Exploi a ion, explo a ion, and pe o mance
One o he main ocuses o a en ion in exploi a ion and
explo a ion esea ch has been he a emp o unde s and
and explain hei e ec on o ganiza ional pe o mance
(Bie ly & Daly, 2007; Junni e al., 2013; Lee & Huang,
2012). The esea ch on exploi a ion and explo a ion has
demons a ed hei posi i e e ec on pe o mance ei he in
a subs i u e o complemen a y way. Mo gan and Be hon
(2008) and McDe mo and P ajogo (2012) ound ha
he e is a posi i e in luence o exploi a i e and explo a o y
inno a ion on pe o mance, and Li e al. (2011) es ablish
ha bo h he long- e m de elopmen , enabled by explo a-
ion, and he sho - e m p oduc i i y, p o ided by exploi a-
ion, a e essen ial de e minan s o pe o mance and he
i m’s sus ainabili y. O he wo ks ha e ackled he analysis
o hese ela ionships om a mo e con ingency-based pe -
spec i e. Fo example, Menguc and Auh (2010) demon-
s a ed ha explo a o y ac ions imp o e pe o mance
when i ms ollow an “explo a o y” s a egy, while
exploi a i e ac ions imp o e pe o mance in i ms wi h a
“de ensi e” s a egy. Mo eo e , exploi a ion and explo a-
ion may in luence di e en ypes o pe o mance. In his
sense, he esea ch o Sande s (2008), abou di e en pa -
e ns o he use o in o ma ion echnologies, illus a es ha
he exploi a i e pa e n enhances ope a ional bene i s,
while he explo a i e pa e n imp o es s a egic bene i s.2
Belde bos e al. (2010) es ablished ha he exchange o
explo a o y echnological ac i i ies be ween he pa ne s
o a collabo a ion ne wo k b ing abou posi i e e ec s on
inancial pe o mance, and Yuen e al. (2019) demon-
s a ed ha “o ganisa ional slack and en i onmen al unce -
ain y nega i ely mode a e he ela ionship be ween
sus ainable exploi a ion capabili y and business pe o -
mance bu posi i ely mode a e he ela ionship be ween
sus ainable explo a ion capabili y and business pe o -
mance” (p. 90).
The a iabili y o he esul s in he as amoun o
esea ch on exploi a ion and explo a ion and hei e ec
(ei he sepa a ely o join ly) on pe o mance is mainly
explained by a numbe o con ex ual ac o s de e mining
he in ensi y and sign o his ela ionship (He & Wong,
2004; La ie e al., 2010). In he ollowing sec ions, we dis-
cuss he main in e nal and con ex ual ac o s ha can help
o be e unde s and and syn hesize he indings o he
esea ch on exploi a ion, explo a ion, and pe o mance.
Hypo heses de elopmen
The e a e di e en mode a o s ha may explain he di e -
ences in he impac on pe o mance o exploi a ion and
explo a ion. A mode a o is a quali a i e o quan i a i e
a iable ha a ec s he ela ionship be ween an independ-
en and a dependen a iable and, consequen ly, becomes a
sou ce o he e ogenei y in he esul s o s udies ha ana-
lyze a hypo hesized ela ionship (Bo ens ein e al., 2009).
Gi en ha me a-analysis e i ies he exis ence o he e o-
genei y in s udies, i becomes a use ul me hod o iden i y
which mode a ing a iables a e causing such a iabili y. In
his sense, in he managemen ield, se e al s udies using

316 Business Resea ch Qua e ly 25(4)
me a-analysis ha e analyzed he e ec s o p e iously
es ablished mode a o ac o s (Bowen e al., 2010;
Gue e o-Villegas e al., 2018; Pé ez-Cale o e al., 2019;
Rosenbusch e al., 2011).
In a me a-analysis, di e en ypes o mode a o s can be
iden i ied, as hey a ec he esul s o he s udies: subs an-
i e, ex insic, and me hodological (Bo ens ein e al.,
2009; Lipsey & Wilson, 2001). The subs an i e mode a-
o s can be conside ed as he mos ele an and e e o
o he a iables included in he s udies, o ming pa o he
hypo heses o de eloped heo ies. Al hough we acknowl-
edge ha he spec um o mode a o s o conside is b oad,
ollowing he same p ocedu e as Lee and Madha an
(2010), we iden i ied om he heo e ical li e a u e he
subs an i e mode a o s ha could a ec he ela ionship o
exploi a ion and explo a ion wi h pe o mance p oducing
he e ogenei y, and hen we selec ed hose ac o s ha had
g ea e p esence in he s udies included in ou me a-analy-
sis. Thus, he a iables slack esou ces, o ganiza ional
s uc u e, in e -o ganiza ional ela ions, compe i i e in en-
si y, and en i onmen al dynamism a e conside ed as sub-
s an i e mode a o s. Fo ex insic and me hodological
mode a o s, we included hose ha a e gene ally sugges ed
by he me a-analy ical li e a u e and ha a e he mos e-
quen ly e alua ed in he ield o managemen and business
o explain he e ogenei y (Camisón-Zo noza e al., 2004;
Ki ca e al., 2005; Lee & Xia, 2006). The ex insic mod-
e a o s a e exogenous condi ions o he analyzed ela ion-
ship ha could a ec he s eng h and di ec ion o his
ela ionship. In he p esen in es iga ion, he egion, as
well as he size and sec o o he companies, a e p oposed
as ex insic mode a o s. Finally, he me hodological mod-
e a o s e e o he me hods o ob aining and ope a ional-
izing he a iables in he s udies conside ed, which can
also be a sou ce o he e ogenei y in hei esul s. As me h-
odological mode a o s, we p opose he way o ob ain he
da a and he ype o measu emen o he dependen
a iable.
Subs an i e mode a o s
O ganiza ional slack. Al hough he o ganiza ional slack
e idences mul iple concep ions (Bou geois, 1981), in he
p esen s udy we ake he de ini ion o Noh ia and Gula i
(1996) o i s simplici y and cla i y: “We de ine slack as
he pool o esou ces in an o ganisa ion ha is in excess o
he minimum necessa y o p oduce a gi en le el o o gani-
sa ional ou pu ” (p. 1,246).
Some wo ks show ha when slack exis s (ope a ional,
inancial, o ela ed o human esou ces), i ms ha de elop
ac i i ies o exploi a ion achie e a highe pe o mance
(G e e, 2007; Le in hal & Ma ch, 1993; Voss e al., 2008).
O he s udies indica e ha slack also acili a es sea ching
and expe imen ing and, in his con ex , he ac i i ies o
explo a ion may achie e hei goals mo e e ec i ely and
imp o e pe o mance (Ka ila & Shane, 2005; La ie e al.,
2010; Sidhu e al., 2004). Finally, some esea ch concludes
ha slack p omo es balance in he alloca ion o esou ces o
p omo e bo h exploi a ion and explo a ion ac i i ies and,
he e o e, gua an ees a be e pe o mance (Geige & Mak i,
2006; Huang & Li, 2012).
Consequen ly, we p opose he ollowing hypo hesis:
H1. O ganiza ional slack posi i ely mode a es he
in luence o (a) exploi a ion on pe o mance and (b)
explo a ion on pe o mance.
O ganiza ional s uc u e. O ganiza ional s uc u e is
de ined as he way in which wo k is di ided and i s la e
coo dina ion is ca ied ou (Min zbe g, 1979). O e all,
o ganiza ional heo y classi ies o ganiza ional s uc u es
in o mechanis ic and o ganic. Mechanis ic s uc u es ha e
a high o maliza ion, a high cen aliza ion, and na ow
spans o au ho i y. O ganic s uc u es a e cha ac e ized by
a low o maliza ion, a g ea e decen aliza ion, and b oade
spans o au ho i y (Bu ns & S alke , 1961; McCaskey,
1974).
On he whole, mechanis ic s uc u es a o exploi a ion
and complica e explo a ion (He & Wong, 2004; La ie
e al., 2010). The e y cen aliza ion and o maliza ion o
mechanis ic s uc u es hinde he ac i i ies o explo a ion
by inhibi ing he sea ch o new knowledge and al e na i e
solu ions o non- ou ine p oblems, which would equi e an
o ganic s uc u e. On he con a y, his o maliza ion and
s anda diza ion acili a e exploi a ion and he inc emen al
imp o emen in p ocesses and p oduc s (Jansen e al.,
2006; La ie e al., 2010). The bene i s o he i be ween
he ype o s uc u e and exploi a ion and explo a ion
ac i i ies ha e been demons a ed by Raisch (2008) and
Zhang e al. (2012), among o he s.
We he e o e p esen he ollowing hypo hesis:
H2. The mechanis ic o ganiza ional s uc u e mode -
a es (a) he in luence o exploi a ion on pe o mance
posi i ely and (b) he in luence o explo a ion on pe -
o mance nega i ely.
In e -o ganiza ional ela ionships. Th ough in e -o ganiza-
ional ela ionships, i ms build collabo a i e ne wo k in
e ms o he complemen a i y o esou ces, ecip ocal
ag eemen s, and s a egic nego ia ions in which o ganiza-
ions au onomously c ea e collec i e in e dependences
(Oli e , 1990). These a e a icula ed ia alliances and
coope a ion ag eemen s which acili a e he exploi a ion
and gene a ion o knowledge (Holmq is , 2004; La ie &
Rosenkop , 2005; Phelps, 2010).
The esea ch has shown con lic ing esul s unde di e -
en con ingency condi ions. Fo example, Guisado-
González e al. (2019) showed ha inno a i e pe o mance,
due o exploi a ion o explo a ion alliances, depends on he
Ma ín-Idá aga e al. 317
age o he company. They ound a subs i u e ela ionship in
which young companies achie e highe inno a i e pe o -
mance when hey implemen only explo a ion-o ien ed
alliances, and hey a ec hei inno a i e pe o mance by
implemen ing exploi a ion-o ien ed alliances. Rega ding
collabo a i e ag eemen s wi h la ge companies, Yang e al.
(2014) ound ha , in gene al, small companies ob ain
g ea e bene i s wi h exploi a ion alliances han wi h
explo a ion alliances.
On he whole, in e -o ganiza ional ela ionships a e a
sou ce o oppo uni ies o bo h exploi a ion and explo a-
ion (Koza & Lewin, 1998) and c ea e a con ex whe e he
wo o hem may be e con ibu e o pe o mance. On one
hand, by means o in e -o ganiza ional ela ionships, i ms
can apidly access esou ces and capabili ies ha inc ease
hei local lea ning and help o imp o e hei cu en ech-
nologies and p ocesses (Hoang & Ro hae mel, 2010;
Noo eboom e al., 2007; Ro hae mel, 2001; H. Yang e al.,
2014). On he o he hand, in e -o ganiza ional ela ion-
ships ep esen a sui able con ex o explo a ion as each-
ing ou o new pa ne s becomes a p omising way o
explo ing new oppo uni ies (La ie e al., 2011; Phelps,
2010; Rosenkop & Ne ka , 2001; Ro hae mel & Deeds,
2004).
In his sense, he ollowing hypo hesis is p oposed:
H3. In e -o ganiza ional ela ionships posi i ely mod-
e a e he in luence o (a) exploi a ion on pe o mance
and (b) explo a ion on pe o mance.
Compe i i e in ensi y. Compe i i e in ensi y ep esen s he
deg ee o compe i ion ha a i m aces in he ma ke whe e
i ope a es. I is conside ed o be one o he main h ea s o
he o ganiza ion (De Cle cq e al., 2014) and an impo an
ex e nal ac o ha a ec s pe o mance (Jawo ski & Kohli,
1993; Kim & A uahene-Gima, 2010).
When compe i i e in ensi y is high, i ms expe ience
s ong p essu es owa d cos e iciencies and p ice educ-
ions, which na ow u ili y ma gins and educe he o gani-
za ional slack (Li e al., 2010; Mille & F iesen, 1983;
Zah a, 1996). In his con ex , exploi a ion may help o
compe e h ough he con inuous imp o emen o p od-
uc s, se ices, and p ocesses, aking ad an age o he cu -
en esou ces and he accumula ed knowledge and
a oiding he cos s and isks o new sea ches and de elop-
men s. In his line, esea ch demons a es ha when com-
pe i i e in ensi y is high, exploi a ion shows a posi i e
linea ela ionship wi h pe o mance (Ne ka , 2003; Yang
& Li, 2011).
Explo a ion may also help o de elop new sou ces o
compe i i e ad an age in highly compe i i e con ex s
(Jansen e al., 2006; La ie e al., 2010; Le in hal & Ma ch,
1993). Indeed, in such scena ios he i ms should balance
exploi a ion and explo a ion o a oid echnological obso-
lescence and o p oac i ely an icipa e ma ke changes.
This would allow i ms o en ich hei cu en p ocesses, o
b oaden hei ange o p oduc s, o imp o e hei ma ke
posi ion, and o ob ain g ea e yields om hei in es -
men s (Abebe & Ang iawan, 2014; Auh & Menguc, 2005;
Chang e al., 2011; Lumpkin & Dess, 2001).
Consequen ly, he ollowing hypo hesis is o mula ed:
H4. Compe i i e in ensi y posi i ely mode a es he
in luence o (a) exploi a ion on pe o mance and (b)
explo a ion on pe o mance.
En i onmen al dynamism. En i onmen al dynamism is he
deg ee o change and unp edic abili y o he en i onmen
whe e he i m ope a es (Dess & Bea d, 1984; Jansen
e al., 2009; Jawo ski & Kohli, 1993). In a e y dynamic
con ex , di e en ex e nal ac o s (economic, social, poli i-
cal, e c.) concu and in luence he i m pe o mance in
condi ions o high unce ain y (Bu on & Obel, 2004).
Accele a ed changes in echnology, unexpec ed a ia ions
in cus ome s’ p e e ences, un o eseeable luc ua ions in
he demand o p oduc s, and he supply o ma e ials a e
some o he ac o s causing en i onmen al dynamism
(Jansen e al., 2006; Jawo ski & Kohli, 1993). I ep esen s
a pa icula condi ion ha p essu es companies o a ce ain
exploi a i e and explo a o y beha io (Chang e al., 2011),
gi ing ise o di e en s a egic al e na i es o achie e
e iciency and e ec i eness (Auh & Menguc, 2005; Li &
Huang, 2013).
Empi ical esea ch has shown ha he dynamic en i-
onmen p oduces a mode a ing e ec on he in luence ha
exploi a ion and explo a ion ha e on pe o mance, wi h
esul s ha a e no ye conclusi e and in some cases con-
adic o y. Fo example, in hei s udy, Be nal e al. (2019)
demons a ed ha echnological and ma ke e olu ion p o-
duces di e en in luences on he ela ionship be ween
exploi a ion and explo a ion wi h inno a i e pe o mance;
Yuen e al. (2019) ound ha in he ace o g ea e en i on-
men al unce ain y, companies ob ain be e pe o mance
o explo a o y capaci y han o exploi a i e capaci y, and
Li and Wang (2019) showed ha companies wi h a highe
inancial slack end o o m mo e explo a ion and less
exploi a ion alliances, bu when he en i onmen is highly
unce ain hey end o es ablish exploi a i e ela ionships,
a oiding explo a i e collabo a ions. O he s udies ha e
ound ha en i onmen al dynamism leads companies o
dec ease hei exploi a i e ac i i ies, since hey may ace
excessi e ou iniza ion and ine ia a ec ing lexibili y and
p opensi y o change (A uahene-Gima, 2005; Chang e al.,
2011; Kim & A uahene-Gima, 2010; Wang & Li, 2008).
Likewise, some s udies ha e ound ha in a dynamic en i-
onmen , he ope a ional uni s esis he h ea o obsoles-
cence, inc easing he unlea ning o he ou ines es ablished
o ob ain new knowledge (Bie ly & Daly, 2007; Li e al.,
2010). As Moss e al. (2014) indica ed, in s able en i on-
men s companies should p omo e g ea e exploi a ion o
achie e g ea e e iciency, while in dynamic en i onmen s,
a g ea e ocus on explo a ion will be needed o p omo e
318 Business Resea ch Qua e ly 25(4)
new echnologies and p oduc s. Simila ly, a ious s udies
a gue ha he nega i e e ec p oduced by exploi a ion on
pe o mance in dynamic en i onmen s is o se when
companies de elop a balanced s a egy be ween exploi a-
ion and explo a ion (Jansen e al., 2012; Pe usa-O ega &
Molina-Azo ín, 2018; Sa kees e al., 2010).
Finally, Jansen e al. (2006) showed ha en i onmen al
dynamism posi i ely mode a es he ela ionship be ween
explo a o y inno a ion and inancial pe o mance, and
nega i ely mode a es he ela ionship be ween exploi a-
i e inno a ion and inancial pe o mance.
In his pe spec i e, he ollowing hypo hesis is
p oposed:
H5. En i onmen al dynamism mode a es (a) he in lu-
ence o exploi a ion on pe o mance nega i ely and (b)
he in luence o explo a ion on pe o mance
posi i ely.
Ex insic mode a o s
Region. Se e al wo ks using he me a-analysis echnique
ha e shown ha he egion mode a es he ela ionship
be ween he independen a iable and he i m pe o -
mance (Ca ney e al., 2011; Hancock e al., 2013). In he
ield o exploi a ion and explo a ion, he egion unde
s udy has p o ed o be a ele an ac o ha in luences he
esul s. Fo example, he s udy o Ka ila and Ahuja (2002)
on he global obo ic indus y ound ha Ame ican and
Eu opean i ms pe o m mo e exploi a ion and explo a-
ion han hei coun e pa s in Japan. Simila ly, Kim e al.
(2012) ound ha he in luence o ambidex e i y on he
p ocess o o ganiza ional lea ning is mo e e iden in
Ame ican and Eu opean i ms han in Japanese i ms.
Thus, i may be specula ed ha capaci ies o exploi a ion
and explo a ion a e mo e e ec i ely de eloped in he
Ame ican and Eu opean a eas han in he Asian egion. In
u n, his could be explained by he dynamism and apid-
i y o hei pene a ion s a egies in o eign ma ke s,
which allows hem be e abso p ion and de elopmen o
knowledge (Hsu e al., 2013), suppo ed by hei abili y o
de elop alliances (Ro hae mel, 2001). In addi ion, com-
panies wi h a g ea e capaci y o global expansion a e
mo e p one o exploi a ion and explo a ion (P ange &
Ve die , 2011). The e o e, he ollowing hypo hesis is
pos ula ed:
H6: The egion in which he s udy was conduc ed mod-
e a es he in luence o (a) exploi a ion on pe o mance
and (b) explo a ion on pe o mance, wi h he e ec
being s onge in wes e n egions han in eas e n
egions.
Size. The size o he o ganiza ion has been an impo an
mode a ing a iable in me a-analy ic s udies (Camisón-
Zo noza e al., 2004; Lee & Xia, 2006). In he ield o
exploi a ion and explo a ion, he incidence o size has
yielded ambiguous esul s, since i has some imes been
ound ha la ge companies a e mo e liable o exploi –
explo e, while in o he s his si ua ion has been mo e p om-
inen in small and medium-sized en e p ises (SMEs; La ie
e al., 2010; Lee & Huang, 2012; Raisch, 2008).
Al hough smalle companies can de elop be e hei
exploi a i e and explo a o y skills, due o hei lexibili y
and he absence o ine ia in hei p ocesses, hei sca ce
esou ces limi hem in he sea ch o oppo uni ies (Lee &
Huang, 2012). As a gued by Moss e al. (2014), while i
makes sense ha la ge companies ha e ins i u ionalized
no ms and s uc u al ine ia ha limi change, i is also ue
ha hey ha e a g ea e esou ce slack han small compa-
nies o co ec he poo esul s o s a egic decisions. In
ac , some s udies ound ha la ge companies, due o hei
g ea e esou ces, ha e a g ea e p opensi y o adop adi-
cal o explo a o y inno a ions (Dewa & Du on, 1986;
E lie & Rubens ein, 1987).
Fu he mo e, because o he co ela ion be ween age
and size—conside ing ha young companies end o be
smalle and ma u e companies end o be la ge —some
au ho s showed ha “young companies achie e be e pe -
o mances wi h he implemen a ion o explo a ion-o ien ed
alliances and ma u e companies wi h he implemen a ion o
exploi a ion-o ien ed alliances” (Guisado-González e al.,
2019, p. 402).
Indeed, mos s udies on exploi a ion and explo a ion
ha include size as a con ol a iable show ha hey a e
mo e common in la ge companies (Anand e al., 2009;
Fang e al., 2012; Luba kin e al., 2006; Sa kees e al.,
2010; Zhou & Wu, 2010). Fo la ge companies i is easie
o exploi and explo e, since hey ha e a g ea e a ailabil-
i y o esou ces and be e economies o scale (Cao e al.,
2009; Sa kees e al., 2010). Likewise, la ge companies
ha e consolida ed s uc u es, cha ac e ized by a clea ly
de ined hie a chical and unc ional di ision ha acili a es
he o ganiza ional balance be ween exploi a ion and explo-
a ion, so ha hey can exploi in one a ea and explo e in
ano he (La ie e al., 2010; Raisch e al., 2009). As indi-
ca ed by Mom e al. (2007), “bo h exploi a ion and explo-
a ion concu in he o ganisa ion, bu in di e en places in
he s uc u e” (p. 925). Mo eo e , esea ch has shown ha
he c ea ion o ag eemen s o he explo a ion o new p od-
uc s and he exploi a ion o cu en ma ke s is posi i ely
ela ed wi h size, since la ge companies can ealize e i-
cal in eg a ion o ca y ou p ojec s, in ol ing u he
p oduc and ma ke de elopmen (Ro hae mel & Deeds,
2004).
In sum, gi en he g ea e a ailabili y o esou ces
(slack) and a mo e consolida ed o ganiza ional s uc u e,
la ge companies will be be e able o exploi and explo e
han SMEs. I is expec ed, he e o e, ha he ela ionship
be ween exploi a ion, explo a ion, and pe o mance is sig-
ni ican and s onge in la ge companies han in SMEs, so
he ollowing hypo hesis is posi ed:
Ma ín-Idá aga e al. 319
H7: The size o he companies s udied mode a es he
in luence o (a) exploi a ion on pe o mance and (b)
explo a ion on pe o mance, such ha he e ec is
s onge in la ge companies han in SMEs.
Sec o . The indus y in which companies ope a e is an
impo an mode a o o o ganiza ional esul s (Camisón-
Zo noza e al., 2004; Junni e al., 2013). In he ield o
exploi a ion and explo a ion, s udies ha e been ca ied
ou on sec o s o di e en echnological le els, wi h con-
lic ing esul s. Fo example, Beckman (2006) ound ha
in he biomedical indus y mo e explo a ion capaci ies a e
de eloped and ha in manu ac u ing companies he e is a
g ea e de elopmen o exploi a i e ac ions. Howe e ,
Bie ly and Daly (2007) indica ed ha bo h exploi a ion
and explo a ion a e mo e e iden ac ions in high- ech
companies, since in low- ech companies cus ome s could
unde es ima e echnological ad ances due o hei p e e -
ence owa d he b and and he p ice.
To be success ul in he ma ke , high- ech companies
mus make s a egic decisions ha allow hem o de elop
compe i i e ad an ages, a pu pose o which he explo a-
ion o new p ocesses/p oduc s and he exploi a ion o
cu en p ocesses/p oduc s a e c ucial (Chand aseka an
e al., 2012; Gedajlo ic e al., 2012). Huang (2009) s a es
ha in high- ech companies he s a egic enewal o hei
compe i i e capabili ies s ems om con on ing ine ia
and dis up ion by exploi ing exis ing knowledge and
explo ing new ways o lea ning. Fo example, in he bio-
pha maceu ical indus y, i ms ha e shown p o ound
changes as a esul o he con inuous disco e y cycle
be ween exploi a ion and explo a ion (Gilsing &
Noo eboom, 2006). High- ech companies a e mo e likely
o make s a egic alliances, bo h h ough explo a ion
ag eemen s ha allow hem o de elop new p oduc s and
exploi a ion ag eemen s ha a o he de elopmen o
hei ma ke s (Ro hae mel & Deeds, 2004).
In sum, bo h exploi a ion and explo a ion a e mo e e i-
den in high- ech companies, since in low- ech companies
he cus ome s could unde es ima e echnological ad ances
in exchange o hei p e e ence owa d he b and and he
p ice (Bie ly & Daly, 2007). Thus, in low- ech i ms,
incen i es o in es in exploi a i e and explo a o y ac i i-
ies will be lowe .
In iew o his, i is expec ed ha he ela ionship
be ween exploi a ion and explo a ion wi h pe o mance
will be signi ican and s onge in he high echnology sec-
o (e.g., biomedical, mic ocompu e ) han in o he , low-
echnology sec o s (e.g., manu ac u ing and se ices), so
he ollowing hypo hesis is pu o wa d:
H8: The sec o in which he s udy was conduc ed mod-
e a es he in luence o (a) exploi a ion on pe o mance
and (b) explo a ion on pe o mance, such ha he e ec
is s onge in he high- ech sec o han in he low- ech-
nology sec o .
Me hodological mode a o s
Ways o ob aining da a. Se e al me a-analy ical s udies in he
o ganiza ional ield ha e conside ed ha he ela ionships
analyzed a e mode a ed by he way he da a we e ob ained
(Camisón-Zo noza e al., 2004; Junni e al., 2013). Fo exam-
ple, he me a-analysis ca ied ou by Van Wijk e al. (2008)
included, as a mode a ing ac o , he way o cap u ing da a
(p ima y s. seconda y da a). They ound ha he e ec size
was g ea e in he s udies based on su eys.
S udies analyzing he ela ionship be ween exploi a-
ion, explo a ion, and pe o mance ha e used di e en
ways o ob aining da a, speci ically (a) ques ionnai es
(e.g., A uahene-Gima, 2005; Bie ly & Daly, 2007; Chang
e al., 2011; Si én e al., 2012; Zhan & Chen, 2013), (b)
da abases (e.g., Anand e al., 2009; Belde bos e al., 2010;
Kim e al., 2014; W. Li & Wang, 2019; Schul z e al., 2013;
Solís-Molina e al., 2018), and (c) a combina ion o p i-
ma y and seconda y da a (e.g., Calan one & Rube a, 2012;
Fe nhabe & Pa el, 2012; Jansen e al., 2012; Pa el e al.,
2012; Shi oko a e al., 2013; Vo hies e al., 2011). Di e en
ways o ga he ing da a can lead o andom e o s ha cause
he e ogenei y in he esul s. As indica ed by Van Wijk
e al. (2008), he ope a ionaliza ion o he a iables can
a ec he eal co ela ions.
In his esea ch, we assume ha ques ionnai es may
p o ide mo e p ecise in o ma ion abou exploi a ion and
explo a ion, since hey a e specially designed o measu e
he a iables unde analysis ( his allows a close assess-
men o he ac s and beha io s). Fu he mo e, such p eci-
sion occu s since in gene al he scales used in he s udies
end o be simila , which was e i ied by Nicolau-Juliá
e al. (2015), who ound ha he exploi a ion and explo a-
ion measu es a e equally alid in low- echnology sec o s
as in he medium and high echnology.
On he con a y, seconda y da a implies he use o da a-
bases ha we e designed o o he pu poses, which educes
he accu acy o in o ma ion abou he a iables unde
s udy. Fo his eason, i is expec ed ha he ela ionship
be ween exploi a ion and explo a ion on pe o mance will
be signi ican and s onge when he in o ma ion is
ob ained wi h p ima y da a compa ed wi h ha ob ained
wi h seconda y o mixed da a.
Pe o mance measu emen s. Pe o mance has ep esen ed
one o he mos ep esen a i e a iables in he esea ch
agendas o s a egic managemen . Al hough pe o mance
can ha e di e en seman ic conno a ions, i is gene ally
de ined as he scope o o ganiza ional e ec i eness. This
has been speci ied as he concomi ance be ween e ec i e-
ness and e iciency. The o me is unde s ood as he
achie emen o objec i es and he la e as he op imal use
o esou ces (Auh & Menguc, 2005; Bu on & Obel, 2004).
The measu emen o o ganiza ional pe o mance is
s ill a subjec o deba e among academics due o i s mul i-
dimensional condi ion ha makes his a iable a complex
326 Business Resea ch Qua e ly 25(4)
slack may allow i ms o success ully ca y ou bo h ech-
nological p ocesses o imp o emen and scien i ic ac ions
o de elopmen (Fleming & So enson, 2004; Geige &
Mak i, 2006; Huang & Li, 2012).
The ype o o ganiza ional s uc u e, he second sub-
s an i e ac o , may de e mine di e ences in he impac o
exploi a ion and explo a ion on pe o mance. In his
sense, mechanis ic s uc u es, cha ac e ized by s ong o -
maliza ion, cen aliza ion, and e ical di e en ia ion
(Bu on & Obel, 2004; Sun & Pan, 2011), lead o a highe
e ec o exploi a ion on pe o mance. Tha is, lea ning
h ough o ganiza ional ou ines and s anda dized p o-
cesses seems o con ibu e o g adual imp o emen s
which a o e iciency and p o i s in he sho e m (Adle
e al., 2009; He & Wong, 2004; Hsiao & Wu, 2020; Jansen
e al., 2006). Ne e heless, we could no demons a e a
nega i e mode a ing e ec o hese mechanis ic s uc u es
on he ela ionship be ween explo a ion and pe o mance.
Thus, al hough s ong o maliza ion and cen aliza ion
may limi he ini ia i e and c ea i i y necessa y o
s eng hen expe imen a ion and inno a ion, ce ain p oce-
du es and p o ocols may con ibu e o a icula ing and
making he p ocess o explo a ion success ul. As Cabello-
Medina e al. (2011) demons a ed, some deg ee o o -
maliza ion could help people o manage complex,
unce ain, and mul idisciplina y in o ma ion in adical
inno a ion p ocesses. Howe e , since in ou me a-analy-
sis he s udies ha analyze he o ganiza ional s uc u e
co espond o mechanical ype s uc u es, he esul s
could be ob ia ing o he con ingen ci cums ances, such
as o ganiza ional inno a ion. As Guisado-González e al.
(2017) demons a ed, he ela ionships be ween exploi a-
ion and explo a ion wi h o ganiza ional inno a ion a e
complemen a y, so ha pe o mance can be imp o ed i
companies simul aneously implemen exploi a ion, explo-
a ion, and o ganiza ional inno a ion ac i i ies. In his
case, when o ganiza ions make he o ganiza ional s uc-
u e mo e lexible, making hem mo e o ganic o in o-
duce be e managemen p ac ices (e.g., wi h he design o
pa allel subs uc u es), hey will ha e he possibili y o
balancing he esou ces alloca ed o exploi a i e and
explo a o y ac i i ies (Raisch, 2008).
In e -o ganiza ional ela ionships, he hi d subs an i e
ac o , ein o ce he in luence o explo a ion on pe o -
mance. Pa icipa ing in alliances may be a use ul s a egy
o abso b ex e nal knowledge, sha ing esou ces, and
capabili ies wi h pa ne s and in e changing R&D ac i i-
ies (Holmq is , 2003; La ie e al., 2011; Li e al., 2014;
Phelps, 2010), all o which may con ibu e o imp o ing
he esul s o explo a ion (La ie & Rosenkop , 2005; Li &
Wang, 2019). Ne e heless, in e -o ganiza ional ela ion-
ships do no seem o be as aluable when i ms a e in ol ed
in exploi a ion ac i i ies. As has been s a ed in p io
esea ch, exploi a ion may be a undamen ally in a-o gan-
iza ional condi ion (Auh & Menguc, 2005; Benne &
Tushman, 2003; Du a, 2012; He & Wong, 2004). Al hough
Table 8. Summa y o hypo hesis e i ica ion.
No. Con en Ve i ica ion
H1 O ganiza ional slack posi i ely mode a es he in luence o (a) exploi a ion on pe o mance and (b)
explo a ion on pe o mance.
Suppo ed
H2 The mechanis ic o ganiza ional s uc u e mode a es (a) he in luence o exploi a ion on pe o mance
posi i ely and (b) he in luence o explo a ion on pe o mance nega i ely.
Pa ially
suppo ed
H3 In e -o ganiza ional ela ionships posi i ely mode a e he in luence o (a) exploi a ion on pe o mance and (b)
explo a ion on pe o mance.
Pa ially
suppo ed
H4 Compe i i e in ensi y posi i ely mode a es he in luence o (a) exploi a ion on pe o mance and (b)
explo a ion on pe o mance.
No
suppo ed
H5 En i onmen al dynamism mode a es (a) he in luence o exploi a ion on pe o mance nega i ely and (b) he
in luence o explo a ion on pe o mance posi i ely.
Pa ially
suppo ed
H6 The egion in which he s udy was conduc ed mode a es he in luence o (a) exploi a ion on pe o mance and
(b) explo a ion on pe o mance, wi h he e ec being s onge in wes e n egions han in eas e n egions.
Suppo ed
H7 The size o he companies s udied mode a es (a) he in luence o exploi a ion on pe o mance and (b)
explo a ion on pe o mance, such ha he e ec is s onge in la ge companies han in SMEs.
Suppo ed
H8 The sec o in which he s udy was conduc ed mode a es he in luence o (a) exploi a ion on pe o mance
and (b) explo a ion on pe o mance, such ha he e ec is s onge in he high- ech sec o han in he low-
echnology sec o .
Suppo ed
H9a The way o ob aining he da a mode a es he in luence o (a) exploi a ion on pe o mance and (b) explo a ion
on pe o mance, such ha he e ec is s onge when he da a a e ob ained h ough a su ey han when
ob ained om da abases.
Suppo ed
H9b The way o measu ing pe o mance mode a es he in luence o (a) exploi a ion on pe o mance and (b)
explo a ion on pe o mance, such ha he e ec is s onge when measu ed subjec i ely han objec i ely
Suppo ed
SMEs: small and medium-sized en e p ises.

Ma ín-Idá aga e al. 327
i ms can exploi in an in e -o ganiza ional manne (Hoang
& Ro hae mel, 2010; Holmq is , 2004; Russo & Vu o,
2010), he bene i s a e no as signi ican a he i m le el
(La ie e al., 2011). In addi ion, his ela ionship may be
a ec ed by di e en con ingency ac o s, such as age,
since, as Guisado-González e al. (2019) showed, exploi a-
ion alliances dec ease he company’s inno a i e pe o -
mance, whe eas inno a ion alliances inc ease i .
The ou h subs an i e ac o , compe i i e in ensi y,
does no seem o be he sui able con ex o bo h exploi a-
ion and explo a ion, al hough mos s udies in his ield
poin in he opposi e di ec ion. Rega ding exploi a ion,
i ms acing an en i onmen o echnological and ma ke
i al y, which can h ea en hei compe i i e posi ion, a e
expec ed o exploi o main ain hei pe o mance a
app op ia e le els (Jansen e al., 2006; Kim & A uahene-
Gima, 2010; Yang & Li, 2011). None heless, wha ou
esul s sugges is ha , in a highly compe i i e en i on-
men , e o s owa d e iciency may no p oduce g ea e
pe o mance. This could be due o he p oblems s emming
om he ine ia and ou iniza ion ha exploi a ion en ails
(Adle e al., 2009; Wang & Li, 2008), as well as he ac
ha , in si ua ions o high compe i i e in ensi y, he e o s
o op imize p ocesses and a ionalize cos s a e insu icien
o coun e ac he compe i ion in p ices and he dec ease o
ope a ional ma gins (Mille & F iesen, 1983; Zah a,
1996). Rega ding explo a ion, ou esul s sugges ha in
highly compe i i e con ex s, explo a ion ac i i ies may
no be success ul. As has been discussed in p e ious
esea ch, compe i i e in ensi y ends o inc ease unce -
ain y and, in u n, isk a e sion, hampe ing, and discou -
aging sea ch p ocesses, expe imen a ion and he
de elopmen o new knowledge o p oduc s (Jansen e al.,
2006; Li e al., 2010).
Ou esul s also sugges ha a dynamic en i onmen ,
he i h subs an i e ac o , seems o be a a o able con ex
o de eloping bo h exploi a ion and explo a ion ac i i ies.
Al hough o ganiza ions ha exploi a e expec ed o su -
i e and be success ul in s able en i onmen s, a ce ain
deg ee o change and dynamism may encou age i ms o
e ine hei cu en compe encies and imp o e hei e i-
ciency. Dynamism may especially bene i explo a i e
“o ganisa ions ha can p omp ly ake ad an age o eme g-
ing oppo uni ies and abandon expi ing ce ain ies” (La ie
e al., 2010, p. 119). Fi ms could ace his un o eseeable
en i onmen ia p oducing new knowledge, wi h a g ea e
echnological sea ch, a di e si ica ion in hei o e po o-
lio, a b oadening o hei cus ome base, and a s onge
ma ke de elopmen (Jansen e al., 2006; Kim & A uahene-
Gima, 2010; Wang & Li, 2008). Rega ding he e olu ion
o he ma ke , hese esul s ag ee wi h hose ound by
Be nal e al. (2019), who a gue ha “ he inno a ions
esul ing om he de elopmen o explo a ion and exploi-
a ion s a egies can bo h be accommoda ed in an en i on-
men cha ac e ised by apid ma ke e olu ion” (p. 315).
Al hough, as hese au ho s ha e shown, explo a o y and
explo a o y compe ences can be di e se in di e en en i-
onmen al condi ions (e.g., in echnological e olu ion),
ou me a-analysis e u es he idea ha he dynamic en i-
onmen discou ages exploi a ion and shows ha compa-
nies in es in exploi a i e and explo a o y ac i i ies o ace
he unce ain y ha en i onmen al changes b ing and o
imp o e pe o mance, which is consis en wi h he ind-
ings o Zhan and Luo (2008).
Rega ding he ex insic mode a o s, o he case o he
egion, ou esul s sugges ha exploi a ion and explo a-
ion ac i i ies a e mo e success ul in Wes e n o ganiza-
ions han in hei Asian coun e pa s, which is consis en
wi h wha has been s a ed in some s udies (Ka ila & Chen,
2008; Kim e al., 2012; Ro hae mel & Deeds, 2004).
Ame ican and Eu opean companies seem o ace s ong
compe i i e demands ha induce hem o accele a e hei
in e na ionaliza ion p ocess, so hey mus make quick
decisions ha imply be e use o hei cu en capabili ies
and a s ong d i e owa d global expansion (Hsu e al.,
2013).
In e ms o size, he second ex insic ac o , i was ound
ha in la ge companies he e is a g ea e e ec o exploi a-
ion and explo a ion on pe o mance. Al hough, o SMEs,
exploi a ion and explo a ion can be easily managed due o
hei low ou iniza ion and ew bu eauc a ic es ic ions
(Lee & Huang, 2012), hey do no seem o achie e as good
esul s as la ge companies. La ge companies, wi h a g ea e
a ailabili y o esou ces and wi h he capaci y o achie e
economies o scale, can de elop be e skills, whe he
exploi a i e and explo a o y (Cao e al., 2009; La ie e al.,
2010; Sa kees e al., 2010).
Ou esul s also sugges ha he sec o , he hi d ex in-
sic ac o , mode a es he ela ionships analyzed, in he
sense ha in he high- echnology sec o s he posi i e e ec
o exploi a ion and explo a ion on pe o mance is in ensi-
ied. In e ms o exploi a ion, high- ech companies a e
cons an ly e ining hei in e nal esou ces o op imize
hei R&D ac i i ies, allowing hem o imp o e hei p o-
cesses and make hem mo e e icien (Chand aseka an
e al., 2012; Chand aseka an & Mish a, 2012). In e ms o
explo a ion, companies belonging o hese sec o s, ope a -
ing in highly ola ile echnological en i onmen s, in es
mo e in esea ch, expe imen a ion, and de elopmen o
enhance hei capabili ies (Gedajlo ic e al., 2012).
Rega ding he me hodological condi ions, hey a e con-
side ed as ep esen a i e mode a ing ac o s in a me a-anal-
ysis (Bo ens ein e al., 2009; Hun e & Schmid , 2004;
Lipsey & Wilson, 2001). We ound ha he way o ob ain-
ing he da a as well as he pe o mance measu emen s
a ec he esul s o he s udies: s udies based on su eys on
exploi a ion and explo a ion, using a subjec i e measu e-
men o pe o mance, p oduce a la ge e ec size. This
inding was simila o ha ob ained in o he me a-analy ical
s udies in he ield o managemen and o ganiza ions
328 Business Resea ch Qua e ly 25(4)
(Camisón-Zo noza e al., 2004; Lee & Xia, 2006; Van Wijk
e al., 2008). Al hough su eys can p o ide a ai h ul ep e-
sen a ion o he eali y o he company because hey meas-
u e he ac s as hey a e expe ienced by hei ac o s, some
au ho s ha e wa ned ha he signi ican esul s could come
om a i icial co ela ions due o he ope a ionaliza ion o
he a iables (Ki ca e al., 2005; Van Wijk e al., 2008).
To sum up and answe ou esea ch ques ions, exploi a-
ion and explo a ion ha e di e en impac s on pe o -
mance, depending on he p esence o se e al mode a ing
ac o s. No all he ac o s conside ed a e ele an o
explain a be e pe o mance o exploi a ion e sus explo-
a ion, and ice e sa. In his sense, slack esou ces and a
dynamic en i onmen con ibu e o he success o bo h
exploi a ion and explo a ion ac i i ies, while compe i i e
in ensi y seems o hampe he wo s a egies. The es o
he ac o s analyzed in ou s udy de e mine a di e en
e ec o exploi a ion and explo a ion on pe o mance,
ei he ega ding he in ensi y o he e ec ( egion, size,
sec o , da a sou ces, pe o mance measu emen ) o he sig-
ni icance o he ela ionship (o ganiza ional s uc u e,
in e -o ganiza ional ela ionships). In his sense, ou
esea ch may con ibu e o a be e unde s anding o how
exploi a ion and explo a ion in luence pe o mance.
Ou esul s p o ide ele an indings o managemen
p ac ice ega ding subs an i e ac o s. A mo e p ecise
knowledge o he na u e and beha io o exploi a ion and
explo a ion enables manage s o design he app op ia e
s a egies o imp o e o ganiza ional pe o mance. Bo h
explo a ion and exploi a ion can con ibu e o imp o ing
he i m pe o mance, bu ce ain mode a o ac o s mus
be conside ed, gi en ha hey can ei he in ensi y o
weaken his in luence. To be awa e o he con ex in which
he i m ope a es (slack esou ces, o ganiza ional s uc u e,
in e -o ganiza ional ela ionships as well as he deg ee o
compe i ion and dynamism) will help manage s o subs an-
ially imp o e he e iciency o he s a egies designed.
Limi a ions and u u e esea ch lines
Fi s , gi en ha in ou me a-analysis we only include s ud-
ies ha p esen independen ly co ela ions be ween exploi-
a ion and pe o mance and be ween explo a ion and
pe o mance, and ha we only conside ed some s udies
ha p opose ambidex e i y hypo heses i hey p esen ed
hese co ela ions sepa a ely (exploi a ion on pe o mance
and explo a ion on pe o mance), u u e me a-analysis
could assess he e ec o ambidex e i y on pe o mance as
an in eg a ed cons uc .
Besides, al hough he mode a o a iables included in
ou analysis can be conside ed as some o he mos ele-
an in he s udies on he e ec o exploi a ion and explo-
a ion on pe o mance, i could be conside ed ha hey a e
only a subse o all he po en ial mode a o s. Fu u e
esea ch should explo e he ole o o he a iables ha also
could de e mine di e ences in he e ec o exploi a ion
and explo a ion on pe o mance.
Rega ding he analysis o some o he mode a o s, he
low numbe o p e ious s udies, due o he no el y o s ud-
ies in he ield o exploi a ion and exploi a ion, may limi
he gene aliza ion o he esul s. Ne e heless, and in line
wi h o he me a-analyses in he managemen ield
(Camisón-Zo noza e al., 2004; Hancock e al., 2013;
Rosenbusch e al., 2013), his should no a ec he alidi y
o he indings.
Acco ding o some au ho s, empi ical wo ks included
in a me a-analysis may p esen inconsis encies, due o
issues o how he me hod is applied and he analysis
le el, which may a ec he esul s (G een, 1984;
Rosen hal, 1991). This s udy included all esea ch wo ks
ound in he ield o exploi a ion and explo a ion, wi hou
disc imina ing on he le el o analysis. The e o e, a sub-
sequen me a-analy ical s udy could analyze he indi id-
ual, o ganiza ional, and sec o le el o compa a i ely
assess he consis ency o hese esul s. In ac , an indi id-
ual-cen e ed in es iga ion would be e y in e es ing and
co espond wi h he new esea ch end on he cons uc-
ion o exploi a ion and explo a ion, consis ing o s udies
a he indi idual le el (especially in 2019). These in es-
iga ions ha e shown he di e en ways people in he
o ganiza ion ca y ou pa icula exploi a ion and explo-
a ion ac i i ies ha a ec he o e all pe o mance o he
company (e.g., G eco e al., 2019; Kasso aki, 2019;
Lau ei o-Ma inez e al., 2019; Schnellbäche e al.,
2019; Wilms e al., 2019).
Acknowledgemen s
The au ho s hank he wo anonymous e e ees o hei insigh -
ul and de ailed commen s and sugges ions.
Decla a ion o con lic ing in e es s
The au ho (s) decla ed no po en ial con lic s o in e es wi h
espec o he esea ch, au ho ship, and/o publica ion o his
a icle.
Funding
The au ho (s) disclosed eceip o he ollowing inancial suppo
o he esea ch, au ho ship and/o publica ion o his a icle: We
acknowledge he Spanish Minis y o Economy and
Compe i i eness o inancial suppo (P ojec ECO2016-
75047-P and ECO2016-78882-P).
ORCID iD
Diego A mando Ma in Ida aga h ps://o cid.o g/0000-0002
-5021-6331
No es
1. The con ibu ion o James Ma ch has been a i ied as he
heo y o o ganiza ional adap a ion (Benne & Tushman,
2003; Ky gidou & Pe idou, 2011).
Ma ín-Idá aga e al. 329
2. Fo Sande s (2008), ope a ional bene i s a e hose ha a e
ob ained as a esul o a educ ion o cos s o an imp o e-
men in p ocesses, while s a egic bene i s a e he esul o
a s onge ela ionship wi h he cus ome which os e s an
inc ease in sales.
3. Au ho s such as Hedges and Olkin (1985), Hun e and
Schmid (2004), Bo ens ein e al. (2009), and Ca d (2011)
ecommend ca ying ou he analysis o he a e age e ec
size conside ing he andom e ec s model, gi en ha wi h
his i is assumed ha all he s udies a e unc ionally di -
e en and hey ha e been applied o di e en popula ions
(which is he case in his esea ch).
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