We study if dynamic capabilities alleviate enterprises' revenue losses after an external shock. Contextually, we study Norwegian enterprises before and after the price decline of crude oil in 2014, which strongly affected economic activities across industries in some regions, while others were practically unaffected. Empirically, we combine data of regional oil dependency and enterprise- and person-level data before the decline and enterprise-level revenues before and after the decline. Analyses of 4,060 enterprises in 51 labor market regions show that unrelated education diversity alleviates revenue losses for enterprises in strongly affected regions, while related education diversity has an opposite negative effect. R&D investments and innovation alter revenue growth, but as the effects are consistent across more or less affected regions, the concepts are static enterprise resources and not dynamic capabilities.

中文翻译：

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地区困境时期的外部冲击与企业动态能力

我们研究动态能力是否能减轻外部冲击后企业的收入损失。从上下文来看，我们研究了 2014 年原油价格下跌前后的挪威企业，这对一些地区的跨行业经济活动产生了强烈影响，而另一些几乎没有受到影响。根据经验，我们结合了地区石油依赖数据和下降前的企业和个人数据以及下降前后的企业级收入。对 51 个劳动力市场地区的 4,060 家企业的分析表明，不相关的教育多样性减轻了受影响严重地区企业的收入损失，而相关的教育多样性则具有相反的负面影响。研发投资和创新改变了收入增长，但由于受影响地区或多或少的影响是一致的，