Abstract: Abstract：In recent years, corporate entrepreneurship is becoming a focus of entrepreneurship research, as a research branch of corporate entrepreneurship; intrapreneurship has drawn the attention of scholars. Based on a case studies of Yatai, we discussed how high-level management support , policy and environment , degree of autonomy, similarity between old and new business effect intrapreneurship process in order to built path model from the perspective of dynamic capability .Results show that from the dynamic capabilities perspective, top management support, new business independently and similarity between old and new business has a positive effect on resource availability, this relationship is moderated by the policy and the environment; Policy and environment impact dynamic external coordination ability, this relationship is moderated by the dynamic information using ability; Top management support, degree of similarity between old and new business, new business independent and resource availability affect dynamic resource access and internal integration ability. Finally, the results are discussed, we point out the limitations of this study and future research direction.

Key words: dynamic capability, corporate entrepreneurship, M&A intrapreneurship, new business transformation