Abstract:The development of Internet makes the social and economic environment fluctuate frequently. How to maintain the sustainable competitive advantage of agricultural e-commerce enterprises in the dynamic environment is very important to realize the development of agricultural modernization. Based on the dynamic capability theory and resource-based theory, this paper constructs a model of the relationship between social capital and performance of agricultural e-commerce enterprises in the dynamic external environment with dynamic capability as the intermediary variable, and makes an empirical analysis of 184 agricultural e-commerce enterprises in Jiangxi, Zhejiang and Hubei provinces. The results show that: (1) the social capital of agricultural e-commerce enterprises has a positive impact on performance; (2) the coordination, integration, reconstruction and transformation ability of agricultural e-commerce enterprises play a partial intermediary role between social capital and performance, that is, the social capital of agricultural e-commerce enterprises can improve their performance by improving their dynamic ability; (3) the dynamic environment plays an important role in the dynamic ability of agricultural e-commerce enterprises When the dynamic level of environment is high, the positive impact of coordination, integration and restructuring on enterprise performance is significantly weakened. The results reveal the role of dynamic capabilities of agricultural e-commerce enterprises in the process of social capital transformation, and the synergy effect of external environment of agricultural e-commerce enterprises in the process of resource transformation.