新企业创业导向与绩效的倒 Ｕ形关系——基于资源整合能力的调节效应研究

近年来, 创业导向与绩效的正向关系不断受到挑战.诸多学者强调, 创业导向与绩效的关系是“难以捉摸”的.新企业由于“新且小”的先天不足抑制了创业导向对绩效的积极功效.新企业的创业实践表明, 资源整合能力之资源识取能力和资源配用能力对于创业导向与绩效的关系具有重要影响.文章基于234份新企业样本实证检验了上述关系, 结果表明, 新企业创业导向与绩效的关系并非主流研究成果所认可的正向线性关系, 而是呈现出了倒U形的曲线关系.资源识取能力和资源配用能力对创业导向与绩效的倒U形关系分别具有调节效用, 即当这两种能力提升时, 低度创业导向对绩效的正面作用会增强, 高度创业导向对绩效的负面作用会降低.这说明了新企业创业导向并不总是有助于绩效的提升, 只有拥有适度创业导向的新企业才会有较好的绩效表现, 而要确保创业导向对绩效的积极作用, 新企业必须完善并提升其资源整合能力.

Exploring the inverted U-shape between EO and performance of new ventures: The moderating role of resource integration capability

The positive relationship between entrepreneurial orientation and performance has been challenged recently and some researchers argue that their relationship is elusive. Liabilities of smallness and newness of new ventures have restrained the positive effect of EO on their performances. The practices of start-ups shows that the resource identification and acquisition capabilities and resource allocation and leverage capabilities of resource integration capabilities have crucial effects on the above relationship. Based on 234 samples of new ventures, this empirical study shows that entrepreneurial orientation has an inverted U shape relationship with performance, which is opposed to the mainstream results. Resource identification and acquisition capabilities and resource allocation and leverage capabilities moderate the nonlinear inverted U shape relationship, which means that increasing resource identification and acquisition capabilities or resource allocation and leverage capabilities increases the positive effect of low levels of EO on performance and reduces the negative effect of high levels of EO on performance. The results show that a reasonable entrepreneurial orientation will enhance the performance while lower or higher entrepreneurial orientation will cause the performance to decrease. In order to maintain the positive effect of entrepreneurial orientation on the performance, new ventures must improve their resource integration capability.