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Institutional forces and knowledge search strategies as predictors of entrepreneurial venture performance

Year: 2021

Type: article

Abstract: We examine how institutional factors influence the strategies entrepreneurial ventures use as they seek the knowledge they need to perform and compete. With a focus on economic and ecosystem development, we propose a framework of interrelations between two principal knowledge-search strategies, their interactions with varying levels of institutional development, and the joint effects on venture performance. We utilize a sample of 1,470 entrepreneurial ventures to examine two hypotheses. Results, based on hierarchical regression, distributed lag analyses, and several assumption and robustness checks show that knowledge-search strategy interrelations are complementary when institutional development is high but substitutive when institutional development is low. We execute a post hoc analysis using separate data sources to replicate these results and strengthen our findings. Finally, we discuss implications for entrepreneurial practitioners, policymakers, and scholars.

Source: Journal of Small Business Management

DOI: 10.1080/00472778.2021.1890098

Authors: Jie Wu, Patrick J. Murphy, Jean Jinghan Chen, Michele D. Bunn

Institutions: University of Aberdeen, University of Alabama at Birmingham, University of Macau

Language: English

Topic: Entrepreneurship Studies and Influences

Subfield: Management of Technology and Innovation

Field: Business, Management and Accounting

Domain: Social Sciences

SDGs: Decent work and economic growth, Industry, innovation and infrastructure

Open Access status: green

OpenAlex ID: W3132797897