Research On The Relationship Of Entrepreneurial Orientation And Firm Performance

Under the background of economic transformation, the uncertainty of enterprise environment increasingly strengthens, so the enterprises need to continuously explore, find, use the opportunity, and actively select appropriate entrepreneurial way. From the reality perspective of our country, entrepreneurial behavior has been seen as a critical path of obtaining sustainable competitive advantage and performance improvement. In order to cope with the rapidly changing environment, and achieve healthy enterprise growth, it is very necessary to introduce the entrepreneurial orientation strategy.The implementation of entrepreneurial orientation needs the support of a large number of internal and external knowledge resources. With the rapid development of science and technology, the enterprises, even those most innovative ones, cannot only rely on their inheritance and development of internal knowledge to gain survival and growth. Therefore, the capacity of acquisition, digestion, transformation and exploition external knowledge resources, that is, absorptive capacity has increasingly become a key component of entrepreneurial activity. At present, many scholars begin to pay close attention to the enterprise knowledge absorptive capacity, and the main research object of western scholars is the enterprise under the background of western developed economy. There is a lot of reference significance of these research achievements, but there is also further research space.The theory and practice experience in the field of entrepreneurship shows that entrepreneurial orientation can play a positive role to firm performance. Absorptive capacity and environment also have some influence on the relationship between them. At present, the normative empirical research on the relationship between entrepreneurial orientation and firm performance, under the background of transition economy, is relatively rare. Therefore, based on the domestic enterprise data, there is the relevant relationship analysis between entrepreneurial orientation and firm performance, as well as the mediating role analysis of absorptive capacity and the moderating role analysis of uncertainty environment between them in this paper. There is some theoretical significance and practical significance of the research conclusion:to establish the correct entrepreneurial orientation, obtain competitive absorptive capacity and improve firm performance. The research purpose of the paper is to provide reference suggestions for enterprise entrepreneurial policy.The following questions will be discussed in this paper:the first one is the influence on firm performance of entrepreneurial orientation; the second one is the influence on absorptive capacity of entrepreneurial orientation; the third one is the influence on firm performance of absorptive capacity; the fourth one is the absorptive capacity’s mediating role between entrepreneurial orientation and firm performance; the fifth one is the uncertainty environment’s moderating role between entrepreneurial orientation and firm performance; the sixth one is the uncertainty environment’s moderating role between absorptive capacity and firm performance.In this paper, the relevant data is statistical analyzed to study the relationship of entrepreneurial orientation, absorptive capacity, uncertainty environment and firm performance. The main conclusions are as follows:First, there is significant positive influence on firm performance of entrepreneurial orientation. However, the influential relationships between different dimensions of entrepreneurial orientation and firm performance are different. The innovativeness, risk-taking and proactiveness dimensions all have significant influence on enterprise growth, but the innovativeness, risk-taking and proactiveness dimensions all have not significant influence on enterprise profitability. Second, there is significant positive influence on absorptive capacity of entrepreneurial orientation. However, the influential relationships between different dimensions of entrepreneurial orientation and absorptive capacity are not same. There are significant influences on knowledge acquisition capacity, knowledge assimilation capacity, knowledge transformation capacity of the innovativeness, risk-taking and proactiveness, as well as significant influence on knowledge utilization capacity of proactiveness. But there aren’t significant influences on knowledge utilization capacity of innovativeness and risk-taking. Third, there is significant positive influence on firm performance of absorptive capacity, and there are also significant positive influences on firm performance of absorptive capacity different dimensions. The stronger the acquisition capacity, assimilation capacity, transformation capacity and utilization capacity are, the higher the enterprise profitability is. And the stronger the acquisition capacity, assimilation capacity, transformation capacity and utilization capacity are, the higher the enterprise growth is. Fourth, absorptive capacity plays a mediating role between entrepreneurial orientation and firm performance. However, the mediating roles between entrepreneurial orientation and firm performance different dimensions are not same. The acquisition capacity, assimilation capacity, transformation capacity and utilization capacity play significant mediating roles between entrepreneurial orientation and growth. But the acquisition capacity, assimilation capacity, transformation capacity and utilization capacity don’t play significant mediating roles between entrepreneurial orientation and profitability. Fifth, there is a moderating role of uncertainty environment between entrepreneurial orientation and firm performance. However, the moderating roles of uncertainty environment different dimensions between entrepreneurial orientation and firm performance are different. There is a significant moderating role of the hostile dimension between them. But there isn’t significant moderating role of the dynamic dimension between them. Sixth, there is a significant moderating role of uncertainty environment between absorptive capacity and firm performance, and there are also significant moderating roles of uncertainty environment different dimensions between absorptive capacity and firm performance, that is, moderating role of dynamic dimension and hostile dimension between them are both existed.