| Resource bundling is the process by which capabilities are formed. It is widelyrecognized as a critical source of competitive advantages. Since resource bundling ofnew venture is different from mature one, and rare studies focused on resourcebundling of new venture, it is necessary to study the entrepreneurial resource b undling.We suppose that operating under conditions of substantial uncertainty makes itdifficult to predict the future and attain resource for new venture. Furthermore,identifying opportunities is likely to be serendipitous. As a result, firms must useresource bundling to create more capabilities, to optimize the value created forcustomers and to develop and maintain competitive advantages. Therefore, we studythe impact of environment uncertainty on entrepreneurial resource bundling. Wepropose that both environment uncertainty and entrepreneurial resource bundling areformative, multidimensional construct. The former one have two sub-dimensions(dynamism and hostility), the latter is a construct with two associated sub-dimensions(entrepreneurial resource cohesion and entrepreneurial resource coupling). And basedon effectuation, we also introduce three sub-dimensions of effectuation (affordableloss, flexibility and pre-commitments) and make a further research about whetherthree sub-dimensions mediate the impact of environment uncertainty onentrepreneurial resource bundling. At last, we hypothesis that entrepreneurialself-efficacy moderates the environment uncertainty’s impact on effectuation.This study takes an empirical analysis based on data about enterprises andentrepreneurs of287new ventures in Zhejiang with validate measures, then draws threeconclusions: First, environment dynamism and environment hostility both haveremarkably positive influence on entrepreneurial resource cohesion and entrepreneurialresource coupling; Second, the effects mentioned above are taken through threesub-dimensions of effectuation (affordable loss, flexibility and pre-commitments). Wealso show that, as specified by Sarasvathy (2001), three sub-dimensions of effectuationare positively correlated with environment uncertainty; Third, entrepreneurialself-efficacy (ESE) positively moderates the relationship between environmentdynamism and flexibility, while ESE negatively moderates environment hostility’seffect on flexibility. Overall, the major contributions of this study are capturingentrepreneurialresource bundling’s particularities and studyingthe relationship betweenenvironment uncertainty and entrepreneurial resource bundling. |
