Most empirical research on effectuation is based on experiments or field studies (Chandler et al., 2009). Especially, the critical question “under what circumstances which types of processes provide particular advantages and disadvantages” remains empirically unanswered (Sarasvathy, 2001: 249). But it is exactly the relationship between effectuation, causation and performance that is of particular interest for both researchers and practitioners. Therefore, this study tackles the question: Do effectuation and causation predict performance in new ventures and do factors such as innovativeness moderate this relationship? The opinions regarding this question are diverse. Sarasvathy (2001) suggests that effectuation and causation do not predict performance directly, whereas Read et al. (2009) find three effectual principles positively and directly linked to performance in their meta-analytic review.