Entrepreneurial orientation and external technology acquisition: an empirical test on performance of technology-based new ventures

Abstract

This research investigates the effects of entrepreneurial orientation and external technology acquisition on the performance of technology-based new ventures in the context of a transitional economy. An analysis of the cross-sectional data from 123 Chinese technology-based new ventures was conducted. The results of the analysis support the contention that both the acquisition of external technology and entrepreneurial orientation improve new ventures’ performance. Additionally, the interaction of entrepreneurial orientation and external technology acquisition positively moderates the relationship between entrepreneurial orientation and performance of technology-based new ventures. Overall, this study contributes to our enhanced understanding of the complex relationship among entrepreneurial orientation, external technology acquisition and firm performance under transitional economic conditions. Firms from emerging economies, especially technologybased new ventures, may find the study findings useful in guiding their decision on external technology acquisition.

Keywords:

• technology-based new ventures
• entrepreneurial orientation
• external technology acquisition
• performance
• transitional economy
• China

JEL Classification:

• L25
• L26
• M13
• O32

Additional information

Notes on contributors

Li Cai

Li CAI (PhD, Jilin University, China) is Vice President and Professor of management at Jilin University, China. Concurrently she is also director of the Centre of Enterprise Research at Jilin University. She has published widely in the field of entrepreneurship and is a recognized expert on enterprise reform in China.

Qing Liu

Qing LIU (PhD, Jilin University, China) is a Research Fellow at the Center of Enterprise Research, Jilin University and has published a number of articles in the field of entrepreneurship and technological innovation.

Shengliang Deng

Shengliang DENG (PhD, Boston University, USA) is Professor of international business and marketing at Goodman Business School, Brock University, Canada. He is the author of nine management books and has published numerous research articles in North America and Europe. His main research interests include international business/marketing strategies and enterprise reform in emerging markets.

Dan Cao

Dan CAO (PhD, University of Hull, UK) is an Assistant Professor of marketing in the School of International Business Administration, Zhejiang International Studies University. She has published a number of papers in the field of marketing.