Entrepreneurial orientation (EO) is a construct of vital importance to the organizational literature, having been utilized in a wide variety of research settings. However, the most commonly employed operationalization of EO does not allow researchers to objectively assess firm-level entrepreneurial activity (e.g., Jennings & Young, 1990). This is a particularly acute problem given that the dimensions of EO represent attributes that are amenable to objective measurement utilizing secondary data. The primary purpose of this study is to identify and develop a complimentary objective measure that correlates to the well established perceptual measures of EO developed by Miller (1983) and Covin and Slevin (1989).