Abstract
Drawing on environmental determinism and environmental management perspectives, this study examines the roles of strategy in the relationship between environment and performance in new ventures. With data from 184 ventures in China's high technology industries, I found that new venture strategies play differential roles in dealing with different environmental dimensions to affect performance. In particular, the results suggest that marketing differentiation strategy plays a significant role in mediating the positive effect of perceived industry growth on performance. Market breadth and marketing alliance strategies significantly moderate the negative impact of perceived environmental hostility on performance. Product innovation strategy plays both mediating and moderating roles in the environment–performance relationship. Theoretical and managerial implications are discussed.
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