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Effectuation, Exploratory Learning and New Venture Performance: Evidence from China

Author

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  • Li Cai
  • Runping Guo
  • Yupeng Fei
  • Zhao Liu

Abstract

This paper examines the effect of effectuation on new venture performance in the context of Chinese transitional economy. To determine how new ventures benefit from effectuation, we examine the role of exploratory learning as a key mediator. Using data from 266 Chinese new ventures, our results show that effectuation has a positive effect on new venture performance. Exploratory learning plays a fully mediating role in the relationship between effectuation and new venture performance. This empirical evidence contributes to the development of the theory of effectuation and also provides managerial guidelines for new ventures facing uncertain business environments like transitional economies.

Suggested Citation

  • Li Cai & Runping Guo & Yupeng Fei & Zhao Liu, 2017. "Effectuation, Exploratory Learning and New Venture Performance: Evidence from China," Journal of Small Business Management, Taylor & Francis Journals, vol. 55(3), pages 388-403, July.
    • Handle: RePEc:taf:ujbmxx:v:55:y:2017:i:3:p:388-403
    DOI: 10.1111/jsbm.12247
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    Cited by:

    1. Willem Smit, 2023. "Top Manager Heuristics Under Knightian Uncertainty: Control Versus Prediction and the Moderating Impact of Framing," Journal of Management Studies, Wiley Blackwell, vol. 60(5), pages 1302-1340, July.
    2. Valerija Botric & Sonja Radas & Bruno Skrinjaric, 2023. "Gender differences in management styles during crisis and the effect on firm performance," Working Papers 2301, The Institute of Economics, Zagreb.
    3. Talukder, Sazzad & Barner-Rasmussen, Wilhelm, 2024. "Exploring the language choice dilemma of international small firms: A social exchange perspective on English-only versus multilingualism," International Business Review, Elsevier, vol. 33(3).
    4. Cherbib, Jihene, 2024. "Exploring the interplay between entrepreneurial orientation, causation and effectuation under unexpected covid-19 uncertainty: Insights from large French banks," Technological Forecasting and Social Change, Elsevier, vol. 200(C).
    5. Liangxing He & Huihui Li & Yuli Zhang, 2024. "A Dual Mediation Model between Entrepreneurial Intention and Subsequent Actions: Loss Aversion and Affordable Loss," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 3122-3146, March.
    6. Martin Hemmert & Adam R. Cross & Ying Cheng & Jae-Jin Kim & Masahiro Kotosaka & Franz Waldenberger & Leven J. Zheng, 2022. "New venture entrepreneurship and context in East Asia: a systematic literature review," Asian Business & Management, Palgrave Macmillan, vol. 21(5), pages 831-865, November.
    7. Maryia Akulava & Maribel Guerrero, 2023. "Entrepreneurial gendered ambidexterity in Belarusian SMEs," The Journal of Technology Transfer, Springer, vol. 48(6), pages 1919-1944, December.

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