Abstract
The aim of this study is to examine the roles of entrepreneurial orientation (EO) and the guanxi network with parent university (GNPU) in the creation of university spin-offs (USOs). The study replicates and extends previous research on academic entrepreneurship by providing an empirical analysis using data from 140 USOs in China. The empirical results indicate that three dimensions of EO (innovativeness: IN; proactiveness: PR; and risk-taking: RT) and GNPU have positive effects on the financial performance (FP); PR, RT, and GNPU have positive effects on non-financial performance (NFP) of USOs. In the context of moderating effects, this study finds that only GNPU positively moderates the relationships between IN and FP as well as between PR and NFP, failing to find others. Generally speaking, EO is an important strategic asset and GNPU is an important organisational resource that underpin the establishment of USOs. In addition, we also provide some important theoretical and practical implications for scholars, practitioners, and policy-makers.
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