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Performance of Russian SMEs during the economic crisis: The role of strategic entrepreneurship

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  • Shirokova, G.
  • Ivvonen, L.

Abstract

This study examines how components of strategic entrepreneurship (exploration and exploitation) relate to Russian SMEs performance during the economic crisis and to what extent combinations of firm resources determine these relationships. In order to address these issues we surveyed 651 Russian private SMEs. Our results show that during the economic crisis exploitation is positively associated with SME's performance. However, we found positive association of exploration with SME's performance during the economic crisis instead of negative association. Our results also indicate that relationship between exploration as well as exploitation and firm performance is dependent on different combinations of firm resources.

Suggested Citation

  • Shirokova, G. & Ivvonen, L., 2016. "Performance of Russian SMEs during the economic crisis: The role of strategic entrepreneurship," Working Papers 6454, Graduate School of Management, St. Petersburg State University.
    • Handle: RePEc:sps:wpaper:6454
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    2. Kean Lip Teh & Sazali Bin Abdul Wahab & Suzana Idayu Wati Osman & Ahmad Shaharudin Abdul Latiff & Nur Fadiah Mohd Zawawi & Syed Ali Fazal, 2018. "Factors of Sustainable Firm Performance and the Mediating Role of Strategic Opportunity Recognition: A Conceptual Study," International Journal of Asian Social Science, Asian Economic and Social Society, vol. 8(11), pages 1048-1058, November.

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    Keywords

    strategic entrepreneurship; exploration; exploitation; SME; sfirm performance; economic crisis; human capital; financial capital; Russia;
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