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Linking entrepreneurial orientation to firm performance in a post-socialist market context: the case of Hungary
Entrepreneurial orientation provoked the interest of numerous scholars as
well as political and administrative decision-makers. Both start-ups and already
established corporate entities are increasingly persecuting new opportunities,
products, and business models in order to establish superiority above their
competitive environment. The tendencies evince an optimist impact of
entrepreneurial orientation on business performance, namely on financial
performance. Beyond the aforementioned relationship, there are impulses such as
environmental and organizational factors, which are affecting the businesses. The
results of this study provide evidence of the effect of entrepreneurial orientation on
business performance in a post-socialist context. We test the impact of three
moderators on this bivariate relationship. In contrast to the substantial body of
literature for Western markets, we contribute to minimizing the considerable gap of
research in post-socialist economies. Entrepreneurial orientation as an
organizational behavior may affect the financial performance of businesses
differently in distinct market contexts. Both, internal and external factors are crucial
to identifying, analyze and monitor, to achieve superior performance and to overcome
competitors. This study builds upon a stratified sampling survey of Hungarian
company owners and managers from the Amadeus database. The study uses a
deductive approach. For the analysis, we rely on structural equation modeling using
the PLS algorithm. Our study contributes to the existing literature by means of
confirming the entrepreneurial orientation to firm performance relationship for
Hungary. In this context, we test the moderating effects of environmental dynamism,
environmental hostility as environmental factors and firm age as an organizational
factor. Environmental hostility is closely related to an unfavorable environment,
deriving from rapid and radical changes in the industry, which are typical for post-
soviet economies. In such dynamic environment, destructive innovations of the
industrial actors appear more often as the economy switches to an open competition,
capitalist market. The results confirm that the internal and external factors have no
significant influence on the entrepreneurial orientation to financial performance
direct relationship.
Autor
Prof. Dr. Ralf Wagner
David Kovacs; Katrin Zulauf; Taylan Ürkmez; Dominik Brockhaus
 
ArtikelFachbereichFachrichtung
2016BetriebswirtschaftslehreMarketing/Absatz
 
Schlagwörter
Entrepreneurial Orientation, Post-Socialist Economy, enviromental dynamism, enviromental hostility, financial performance, firm age