Entrepreneurial Orientation of Russian Firms: The Role of External Environment

Galina Shirokova, Karina Bogatyreva () and Tatiana Beliaeva ()
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Karina Bogatyreva: Graduate School of Management, St. Petersburg University, Russia
Tatiana Beliaeva: Graduate School of Management, St. Petersburg University, Russia

Foresight and STI Governance (Foresight-Russia till No. 3/2015), 2015, vol. 9, issue 3, 6-25

Abstract: The paper investigates the relationship between the dimensions of entrepreneurial orientation (EO) — innovativeness, pro-activeness, and readiness to take risks — and firm performance of Russian SMEs. We assess the effects of EO on firm performance in the context of an emerging market taking into account environmental contingencies. Our findings are underpinned by the results of a survey of managers in 104 Russian small and medium firms. The data were processed using structural equation modeling. We find that EO structure in the context of the Russian market differs from the traditional three-dimensional conceptualization of entrepreneurial orientation that is typical of Western countries. Emerging markets — as illustrated by Russia — are characterized by a two-dimensional EO structure: innovativeness and pro-activeness are perceived as a single dimension, while readiness to take risks is a separate component. Moreover, a positive relationship between the united dimension of entrepreneurial orientation — innovativeness and pro-activeness – and firm performance is manifested only in a dynamic or hostile external environment. Particular features of Russia’s institutional and cultural environment may help to explain our findings.

Keywords: entrepreneurial orientation; firm performance; external business environment; emerging markets; structural equation modeling (search for similar items in EconPapers)
JEL-codes: L26 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (1)

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