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The effect of financial resource availability on entrepreneurial orientation, customer orientation and firm performance in an international context: an empirical analysis from Austria and Hungaria

Matthias Filser, Fabian Eggers, Sascha Kraus and Éva Málovic

Journal of East European Management Studies, 2014, vol. 19, issue 1, 7-30

Abstract: This study investigates the impact of financial resource availability on entrepreneurial orientation (EO), customer orientation (CO) and on growth in small- and medium-sized enterprises (SME) in Austria and Hungary. Structural equation modeling revealed that financial resource availability is attributed to EO and, subsequently, to firm growth. However, differences prevail between the two analyzed countries. While financial resource availability fosters CO in Hungary, there is no effect identified with regard to financial resource availability and CO in Austria. Furthermore, the effect of CO on firm growth showed negative effects in both of the analyzed countries.

Keywords: Entrepreneurship; Entrepreneurial Orientation; Customer Orientation; Innovativeness; Proactiveness; Risk-taking; Responsiveness; Financial resource availability; Firm performance; Multi-country study (search for similar items in EconPapers)
JEL-codes: L21 L22 L25 L26 M10 M13 M14 O16 O31 (search for similar items in EconPapers)
Date: 2014
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