The Synergistic Effects of Innovativeness, Risk-taking and Proactiveness on Performance of Tourism Firms

ABSTRACT

This work aims to resolve the debate on the multidimensionality of entrepreneurial orientation, analyzing how the dimensions of this orientation – innovativeness, risk-taking and proactiveness - impact on firm performance. The study examines the direct, indirect and moderating effects of these three dimensions to explain the performance of tourism companies. The empirical study is conducted on a sample of 238 tourism firms located in three of Peru’s World Heritage Sites (Arequipa, Cusco and Lima), using partial least squares structural equation modeling. The results show that proactiveness has a positive, significant, direct effect on firm performance, while risk-taking only has an indirect effect on firm performance through proactiveness. Furthermore, innovativeness has a positive moderating effect on the relationship between proactiveness and firm performance. The findings suggest theoretical and practical implications for tourism firms.

KEYWORDS:

• Innovativeness
• risk-taking
• proactiveness
• firm performance
• cultural tourism

Disclosure statement

No potential conflict of interest was reported by the author(s).

Additional information

Funding

This research was supported by the Universidad Nacional de San Agustín de Arequipa, Perú [Project: IBA-CS-04-2020-UNSA].