The purpose of this paper is to investigate different approaches in measurement of the
concept of dynamic capabilities. The paper focuses on a formative measurement model
by Wilden and colleagues (2013) and a reflective model by Li and Liu (2014). The models
were tested on Ukrainian firms in relation to their performance. A Ukrainian and Russian
translation of both measurements is introduced and tested. The proposed measurements
were tested by applying a partial least squares algorithm using SmartPLS™ software. The
sample contained 113 randomly selected firms from the city of Dnipropetrovs’k and the
Dnipropetrovs’k region. The results showed that, first, both measurement approaches
produced similar results. There were no statistically significant differences between the
results received from these measurements. Second, organizational settings like firm size
and firm type did not influence the results. Third, dynamic capabilities proved to be a
reliable predictor of a firm’s performance. This study is unique in that it applies and
compares two different measuring models (reflective and formative) and provides
empirical data on the usefulness of both methods
