Entrepreneurial orientation, market orientation and networking: impact on innovation and firm performance
01 Dec 2015-Journal of Developmental Entrepreneurship (World Scientific Publishing Company)-Vol. 20, Iss: 04, pp 1550024
TL;DR: In this article, the authors examined the relationship among entrepreneurial orientation, market orientation and networking on firm performance with radical and incremental innovation as the mediator, and found that firms initiating radical innovation take longer for new product performance because of lack of information about customer needs in the market but networking assists in providing market information that enables commercialization of new products.
Abstract: The study examines the relationships among entrepreneurial orientation, market orientation and networking on firm performance with radical and incremental innovation as the mediator. The present study draws on the resource-based view theory to provide insights about intangible resources and capabilities among SMEs. The study adopts a subjectivist approach and is based on multiple case study method by conducting interviews with 7 SMEs purposively operating in different sectors. The research findings seem to support both proactive and responsive market orientation (PMO, RMO), entrepreneurial orientation (EO) and networking have positive relationships on firm performance with radical and incremental innovation as the mediator. It appears firms initiating radical innovation take longer for new product performance because of lack of information about customer needs in the market but networking assists in providing market information that enables commercialization of new products. Further, networking among firms drives performance while strong ties are practiced to a lesser extent.
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TL;DR: In this paper, a comprehensive qualitative review of the empirical accumulated knowledge on the relationship between entrepreneurial orientation (EO) and market orientation (MO) is provided, which reveals that EO-MO relationship research has made considerable strides in recent years and is accelerating and broadening.
Abstract: The purpose of this study is to provide a comprehensive qualitative review of the empirical accumulated knowledge on the relationship between entrepreneurial orientation (EO) and market orientation (MO).,To systematically review the empirical literature that simultaneously tests the core tenets of EO and MO, this study followed a multi-step approach, which has served as a replicable literature review method in previous studies. A final sample of 121 papers published between 1987 and 2016 was developed.,The results show that EO–MO relationship research has made considerable strides in recent years and is accelerating and broadening. This interest is manifested in the 83 journals and 266 authors that were identified. Additionally, the results confirm that the Anglo region contributed the majority of EO–MO relationships in the study sample. Finally, the 121 papers in the sample were organized into six different approaches, which in turn represent 53 research models where the unidimensional conceptualizations of EO and MO were predominant.,This study has shown that the EO–MO relationship has been studied from different approaches, which revealed several research models that advance the knowledge on relationships between EO and MO. EO and MO are, in turn, also positively associated with firm performance. Thus, the study results highlight numerous and varied fertile areas for future research that may offer a more detailed understanding of the EO–MO relationship.
42 citations
Dissertation•
01 Jan 2017
TL;DR: In this article, the authors examined the relationship between resources such as finance, financial literacy of owner-managers, market orientation strategy, managerial capability, and small firm financial and non-financial growth in the context of Bangladesh.
Abstract: Firm growth has received profound attention due to its significant contributions towards the economy. Nonetheless, growth in the context of small firms is suffering from the absence of any unified theory or model. Based on the theory of Resource Based View (RBV), which argues that firms’ resources have direct and indirect effects on firms’ performance and growth, the study examined the relationship between resources such as finance, financial literacy of owner-managers, market orientation strategy, managerial capability, and small firm financial and non-financial growth in the context of Bangladesh. The study also considered the moderating role of government and private organizations support. A quantitative research approach was employed and a structured questionnaire was used as the research instrument. A survey design was adopted and the unit of analysis was small firms operating in Bangladesh and the owner-managers of the small firms were the respondents. The study employed non- probabilistic sampling technique, with a sample size of 407 small firms. The Partial Least Squares to Structural Equation Modelling (PLS-SEM) approach was applied for analysing the data. The findings of the study show that finance, financial literacy and market orientation are the strong predictors of small firm financial and non-financial growth in Bangladesh. Managerial capability is shown to have a positive significant relationship only with non-financial growth. The study also indicates that government support is not useful while private organizations play only a minor role in assisting small firm growth in Bangladesh. The novelty of this study is in pioneering the integration of tangible and intangible resources in a single domain with the moderating effect of government and private organizations support in explaining small firm growth. Based on the empirical evidences, practitioners and policy makers should pay more attention to the financial access, literacy development and marketing success of small firms in Bangladesh.
16 citations
19 Jan 2020
TL;DR: In this paper, the authors investigated the effect of audit committee characteristics, which includes independence (ACIN), size (ACSIZE), competence (ACCO), and frequency of meetings (ACMT), on the financial performance (PERF) of manufacturing firms listed on the Indonesian Stock Exchange for the year of 2016 and 2017.
Abstract: This research investigates the effect of audit committee characteristics, which includes independence (ACIN), size (ACSIZE), competence (ACCO), and frequency of meetings (ACMT) on the financial performance (PERF) of manufacturing firms listed on the Indonesian Stock Exchange for the year of 2016 and 2017. PERF is measured and proxy with the return on assets (ROA); ACIN is measured by the percentage of members from outside the company; ACCO is measured using percentage of audit committee members who have accounting and finance educational background; and ACMT is measured using the number of audit committee meetings in 2016 and 2017. The study finds that all of the characteristics of audit committee positively affect the company's performance. The research also uses three control variables, which are the quality of auditors (BIG4), financial leverage (LEV) and company size (SIZE). BIG4 and LEV positively affect the company's financial performance, while the financial performance of the company is negatively affected by SIZE.
13 citations
Abstract: Article history: Received: October 19, 2018 Received in revised format: November 18, 2018 Accepted: January 8, 2019 Available online: January 8, 2019 This study aims to examine the entrepreneurial orientation (EO) of the Small Rural Business (SRB) entrepreneurs in Malaysia by taking Business Networking (BN) as the antecedent. BN is used to explain the influence of EO as a mediator and its’ consequences towards SRB Business Sustainability (BS). The survey method was employed in this study and the data was analyzed using Structural Equation Modelling (SEM) multivariate data analysis. Based on the SEM analysis, it can be concluded that in this study, the relationship between BN and BS was not mediated by EO. However, BN has direct effect towards EO. Moreover, EO and BN were significant as predictors towards BS. Size, age and technology of SRB were used as control variables in this study. © 2019 by the authors; licensee Growing Science, Canada
12 citations
Cites result from "Entrepreneurial orientation, market..."
...This finding is in parallel with the previous studies by Bucktowar et al. (2015), Arief et al. (2013) and Soininen et al. (2012) which found that there were significant positive effects of Entrepreneurial Orientation on business performance....
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...The findings are similar to the results of the studies by Klewitz (2017), Setya et al. (2017) and Bucktowar et al. (2015) which have mentioned the positive effects of business networking on business sustainability of small business....
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TL;DR: In this article, the authors investigated the relationship between audit committee characteristics (size, independence, meeting and financial expertise) and the profitability of industrial companies listed on the Amman Stock Exchange (ASE) for the years 2013 to 2017.
Abstract: This study attempts to investigat the relationship between audit committee characteristics (size, independence, meeting and financial expertise) and the profitability of industrial companies listed on the Amman Stock Exchange (ASE) for the years 2013 to 2017. The model of this study is theoretically founded on both the agency theory and the resource dependence theory. To examine the developed model, the data were gathered from the annual reports of 51 listed industrial firms. To analyse the data, this study utilized the panel data methodology on 51companies with 255 observations. Moreover, this study used company size and leverage as control variables. Based on the panel data results, the fixed-effect model was used to examine the effect of the experimental variables on profitability, measured by return on investment (ROI) and return on equity (ROE). The results show that the audit committee characteristics have a significant effect on profitability of the industrial companies listed on the ASE. This study evinces that the RD theory is more significant compared to the agency theory when describing CG practices in Jordan.
10 citations
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