This study aims to present and test an integrated model of two representative theories that predict team performance: the resource-based view and the dynamic capability view. The resource-based view holds that a team's competitive advantage and performance are determined by whether the team possesses differentiated capital for achieving high performance, whereas the dynamic capability view argues that for a team to achieve performance, it is important to establish the team's unique work methods and processes that enable it to adapt well to rapidly changing environments. The integrated model argues that, as predicted by the resource-based view, the combination of differentiated resources possessed by a team can directly influence team effectiveness, but on the other hand, team effectiveness can also be achieved through team-specific routines—that is, dynamic capabilities—that combine, utilize, coordinate, and integrate existing team resources. Therefore, this study not only examines the direct effects of team capital and team dynamic capabilities on team effectiveness but also tests the integrated hypothesis that team capital generates team performance through the mediating role of team dynamic capabilities. To test the hypotheses, team-level analysis was conducted on 693 members from 121 teams across five domestic companies where team systems are well established. The results showed that, as hypothesized, team capital and team dynamic capabilities directly influenced team performance, and simultaneously, team capital had a positive effect on performance through the mediating role of dynamic capabilities. This paper discusses the practical and theoretical implications of these research findings in depth.