The impact of institutions on the entrepreneurial orientation-performance relationship

IF 5.7 2区 管理学 Q1 BUSINESS Global Strategy Journal Pub Date : 2021-08-11 DOI:10.1002/gsj.1418
William Wales, Galina Shirokova, Tatiana Beliaeva, Evelyn Micelotta, Louis Marino
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引用次数: 9

Abstract

Research summary

In this study, we theorize how regulatory, normative, and cognitive institutions moderate the entrepreneurial orientation (EO)-performance relationship. We test our hypotheses using data from entrepreneurial ventures in 31 countries. In countries with well-developed legal and financial institutions and where entrepreneurship is normatively supported, entrepreneurs achieve higher returns from an entrepreneurial strategic posture. Institutions positively moderate this relationship through increased resource access, a critical element for innovative entrepreneurial strategies. The effect of institutions is further moderated by the stage of economic development. We advance our understanding of EO by exploring country-level institutional boundary conditions to its value and extend institutional theory through evidence of its moderating effects and interactions with economic development.

Managerial summary

A country's institutional environment influences the extent to which firms benefit from being entrepreneurially orientated (EO). Based on data from 31 countries, we show that entrepreneurs receive higher returns from an entrepreneurial strategic posture in countries where institutions—legal and financial systems, entrepreneurship education, and cultural support for entrepreneurship—are more developed. Well-developed institutions increase returns from EO indirectly by enhancing the ability of firms to access the resources needed to experiment and generate value from their strategic orientation. The influence of institutions on the EO-performance relationship further depends upon the stage of economic development of a country, with institutional impact being more pronounced within “efficiency-driven” economies compared to more developed “innovation-driven” economies.

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制度对创业导向-绩效关系的影响
在本研究中,我们理论化了监管制度、规范制度和认知制度如何调节创业取向与绩效的关系。我们使用来自31个国家的创业企业的数据来检验我们的假设。在法律和金融机构发达的国家以及在规范上支持企业家精神的国家,企业家从企业家战略姿态中获得更高的回报。机构通过增加资源获取来积极调节这种关系,资源获取是创新创业战略的关键因素。经济发展阶段进一步缓和了制度的作用。我们通过探索国家层面的制度边界条件来促进对经济绩效的理解,并通过其调节作用和与经济发展的相互作用的证据来扩展制度理论。一个国家的制度环境影响企业从创业导向(EO)中获益的程度。基于31个国家的数据,我们发现,在法律和金融体系、创业教育和对创业的文化支持等制度更发达的国家,企业家从创业战略姿态中获得的回报更高。发达的制度通过提高企业获得实验所需资源的能力和从战略导向中产生价值的能力,间接地增加了EO的回报。制度对绩效关系的影响进一步取决于一国的经济发展阶段,在"效率驱动"的经济体中,制度的影响比在"创新驱动"的较发达经济体中更为明显。
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来源期刊
CiteScore
14.20
自引率
11.80%
发文量
46
期刊介绍: The Global Strategy Journal is a premier platform dedicated to publishing highly influential managerially-oriented global strategy research worldwide. Covering themes such as international and global strategy, assembling the global enterprise, and strategic management, GSJ plays a vital role in advancing our understanding of global business dynamics.
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