기업가적 지향성이 기업성과에 미치는 영향

Abstract

This study empirically investigates the impact of entrepreneurial orientation (EO) on firm performance and the moderating effect of perceived corporate venturing. By employing the SUR (Seemingly Unrelated Regression) model, this research simultaneously analyzes the relationships between various types of firm performance, including the perceived entrepreneurial performance and the actual financial performance. The 2022 Entrepreneurship Survey data by the Korean Entrepreneurship Foundation was used to analyze 3,119 companies. The results show a positive relationship between EO and various firm performance measures. In addition, the authors find that organization’s perception on corporate venturing positively moderates the relationship between EO and firm performance. Sub-sample analyses further investigate potential variations in results based on company type (e.g., large-sized, medium-sized, small-sized firms) and industry growth stage (e.g., introduction phase, growth phase, maturity & decline phase). The findings of this study can be useful to guide managers in making informed decisions and implementing entrepreneurial strategies.