Abstract: Abstract：This paper discussed the relationship and interactive affections among enterprise dynamic capabilities, strategic reaction rate and performance, based on the framework of limited rationality, and then built the research model, on the basis of relevant theory, which included dynamic capabilities, strategic reaction rate and performance. We also discussed the conditions of enterprise obtain the competitive advantage through empirical research. From the empirical research result, the research found strategic reaction rate and dynamic capabilities have significant effect on the performance, and there is intermediary effect of dynamic capabilities between strategic reaction rate and performance.

摘要： 摘 要：本文基于有限理性约束的分析框架，对企业动态能力、企业战略决策以及企业绩效三者之间的关系效应展开讨论，在理论研究的基础上，构建了包括动态环境、企业动态能力、企业战略决策以及企业绩效的研究模型，并依据实证分析结果阐述了企业获得竞争优势的实现条件。从实证研究的结果来看，战略反应速度以及动态能力对企业绩效均有显著影响，且企业动态能力对战略反应速度与绩效之间的关系有显著的中介效应。