External knowledge resources and new venture success in developing economies: Leveraging innovative opportunities and legitimacy strategies

Francis Donbesuur, Magnus Hultman, Pejvak Oghazi and Nathaniel Boso

Technological Forecasting and Social Change, 2022, vol. 185, issue C

Abstract: This study draws insights from entrepreneurial opportunity and organizational legitimacy perspectives to specify an intervening role of opportunity recognition and the contingency effect of entrepreneurial legitimacy to explain how and when external knowledge resources are associated with new venture performance. The conceptual model is tested on primary data from 230 new ventures operating in a sub-Saharan African economy: Ghana. Findings from the study indicate that the relationship between external knowledge resources and new venture performance is mediated by opportunity recognition and that high levels of both strategic and regulatory legitimacy strategies strengthen the indirect relationship. Theoretical implications and new venture management lessons drawn from these findings are discussed.

Keywords: External knowledge resources; Opportunity recognition capability; Legitimacy strategies; New venture performance; Developing economies (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:185:y:2022:i:c:s0040162522005558

DOI: 10.1016/j.techfore.2022.122034

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