Abstract

It is commonly acknowledged that there is a positive correlation between entrepreneurial orientation (EO) and firm performance. Wales at al. (2013) discovered a mediating effect in the EO-performance relationship when firms pursue new markets or initiate new ventures. The creation of these new ventures can either be achieved internally through R&D but also externally through corporate interrelationships, like venture capital investments, joint ventures or strategic alliances. Academic literature devoted major attention to the EO-performance link, however the immediate causal reason for this dependence has been neglected so far. This study explores these immediate outcomes and sheds light on how entrepreneurial oriented firms commit venturing activities.

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