Research On The Effects Of Entrepreneurial Orientation, Arbitrage Orientation On Resource Acquisition: The Mediating Of Organizational Learning

Entrepreneurship plays an important role in economy development inChina due to its contribution to economic growth and job creation.However, there are still fewer new ventures that get success and growquickly. In this situation, studies on the factors that influence theprocess of entrepreneurship get more and more important. According toresource based view, companies are constituted of resources andentrepreneurial actions can be seen as a series of resource developmentprocess. Resource acquisition is an important sub-process in resourcedevelopment, because new ventures usually face resource constraints inthe process of creating. This paper based on the relationship betweenstrategic orientation and resource acquisition, reviewed relativestudies on entrepreneurial orientation, arbitrage orientation andresource acquisition. Then build a conceptual model about therelationships among entrepreneurial orientation, arbitrage orientation,organizational learning and resource acquisition. This paper aims toanswer the following questions:Firstly, under conditions of transformational economy in China, whyimitation strategies and following strategies are more important to newventures success than other strategies. What are the theories behind thephenomena.Secondly, entrepreneurial orientation reflects innovation,proactiveand risk-taking of new ventures.However, how entrepreneurialorientation influences entrepreneurial activities and then improveentrepreneurial success? Thirdly, previous studies only focused on single strategicorientation. How the relationship between strategic orientation andentrepreneurial activities change when there are two or more strategicorientation?Fourthly, how Chinese context affects the role played by strategicorientation?Based on the above questions, this research mainly includes thefollowing contents: Firstly, this paper puts forward "arbitrageorientation" this new concept based on entrepreneurial phenomena in thecurrent China and the relative theories. Then make the concept clear,design questionnaires and empirically examine this concept.Secondly, this research explored the directed relationship betweenentrepreneurial orientation and resource acquisition, which aims toanswer "why some scholars think entrepreneurial orientation positivelyinfluence the process of resource acquisition, while other scholarsthink resource acquisition influence entrepreneurial orientation".Thirdly, this research explored the in-directed relationshipbetween entrepreneurial orientation and resource acquisition. Accordingto previous relative studies on entrepreneurial orientation and resourceacquisition, organizational learning helps entrepreneurial orientationplay a role in resource acquisition. Therefore this paper brings inorganizational learning as mediated variable, and explores the influencemechanism between entrepreneurial orientation and resource acquisition.Fourthly, the relationship between entrepreneurial orientation andresource acquisition is complex, which may be influenced by other factors,especially some environmental context variables. However, these factorsstill need more attention. This research aims to explore the relationshipbetween entrepreneurial orientation and resource acquisition underdifferent conditions. Specifically, this research finds that arbitrage orientation plays an important role in the relationship betweenentrepreneurial orientation and resource acquisition. This researchwould explore the combined effect of entrepreneurial orientation andarbitrage orientation on resource acquisition.Fifthly, this paper explores the direct relationship betweenarbitrage orientation and resource acquisition. This paper explored therole played by arbitrage orientation. Specifically, arbitrageorientation reflects the entrepreneurs' and managers' attitude to pursueshort term profits, to get big profits by the least payment. This kindof strategic orientation depends on resources deeply.Sixthly, this paper explored the in-directed relationship betweenarbitrage orientation and resource acquisition. After deeply reviewedand summarized relative studies about arbitrage orientation and resourceacquisition, the author finds that arbitrage orientation firstlyinfluence new ventures learning, then improve the status of new ventures.This process would consume resources and need new ventures to acquiremore resources. Specifically, this paper brings in organizationallearning as mediated variable and explored the influence mechanismbetween arbitrage orientation and resource acquisition.This paper puts forward eight hypothesis based on the above contents.In order to examine those hypotheses, this research collected sample fromChangchun, Guangzhou and Beijing. At the end, this research got 361validated questionnaires and examined those hypotheses through factoranalysis and multiple regression analysis and so on. All those hypothesisgot through and the conclusions are as followings: entrepreneurialorientation has positive direct effect on resource acquisition;organizational learning plays a mediating role during the relationshipbetween entrepreneurial orientation and resource acquisition; arbitrageorientation has direct positive effect on resource acquisition; organizational learning mediates the relationship between arbitrageorientation and resource acquisition; arbitrage orientation negativelymoderate the relationship between entrepreneurial orientation andresource acquisition.Compared to the previous studies, this research has some innovationresults:(1) this paper put forward the new concept "arbitrageorientation" under conditions of China's transformational economy,which will direct the entrepreneurial actions in China;(2)this paperexplored the combination effect of entrepreneurial orientation andarbitrage orientation on resource acquisition;(3) this paper exploredthe relationship between strategic orientation and resource acquisition,which helps to explain how strategic orientation influence resourceacquisition.The structure of the paper is organized as follows: the first chaptershows the research question, research contents, research meaning andresearch methods and so on. This chapter mainly describes the wholeframework and system. In chapter two, it mainly reviewed relative studieson entrepreneurial orientation, arbitrage orientation, resourceacquisition and organizational learning, which laid the theoreticalfoundation for the follow-up study.Chapter three builds the whole framework and design research ideasand research methods. Chapter four builds a theory model in relative inentrepreneurial orientation, resource acquisition and organizationallearning, which is examined empirically. Chapter five also builds atheory model including arbitrage orientation, resource acquisition andorganizational learning, which gets empirical examination. Chapter sixputs forward some theory hypothesis around entrepreneurial orientation,resource acquisition and arbitrage orientation and empirically examinedthe theory model. At last chapter seven made a conclusion about the whole research and made some expectations about the future research. Thischapter also made the main research conclusions and put forwardinnovative points about this research. And this chapter pointed out thelimitations of this study and future research directions.