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Based on the theoretical frameworks on dynamic capabilities and business model innovation, we conducted a comprehensive survey and analysis involving 451 Chinese university student enterprises. The primary objective was to investigate the synergistic mechanism between these two factors, assessing their impact on business model innovation and tracing the evolutionary path. The study revealed the following key findings: (1) positive correlations exist between digital capabilities and business model innovation; (2) entrepreneurial passion serves as a mediator in the positive relationship between digital capabilities and the discovery of digital opportunities; (3) digital opportunity discovery acts as a mediator in the relationship between digital capabilities and business model innovation; (4) under the mediation of dynamic capabilities, digital opportunity discovery significantly promotes business model innovation. Our research contributes to the empirical exploration of digitization in enterprises, shedding light on the collaborative influence of digital capabilities and digital opportunity discovery on business model innovation. Importantly, it elucidates the contextual boundaries that influence business model innovation through diverse pathways, enhancing our comprehensive understanding of the dynamic landscape in the evolution of digital business transformations.
Li et al. (2024) studied this question.