Orientación emprendedora, hostilidad del entorno y la rentabilidad de la Pyme: una propuesta de contingencias
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Publicado
18-09-2018
Izaias Martins
Alex Rialp
Resumen
En este artículo se investiga el efecto de la orientación emprendedora (EO) en el desempeño financiero de las Pymes en un período de tres años, así como una propuesta de un modelo de contingencias para explorar los efectos moderadores de la hostilidad del entorno sobre la relación entre la EO y la rentabilidad. Para examinar las hipótesis propuestas se ha utilizado información de 121 Pymes pertenecientes a la industria manufacturera en España. Los resultados confirman la influencia positiva de la EO sobre la rentabilidad de las empresas, y más importante aún, la influencia es más positiva cuando existe un ajuste entre la EO y el entorno. Implicaciones para la academia y el mundo empresarial, con respecto a la EO en el contexto de las Pymes, son presentadas y discutidas.
Cómo citar
Martins, I., & Rialp, A. (2018). Orientación emprendedora, hostilidad del entorno y la rentabilidad de la Pyme: una propuesta de contingencias. Cuadernos De Gestión, 13(2), 67–88. https://doi.org/10.5295/cdg.110297iz
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Keywords
Orientación emprendedora, hostilidad del entorno, rentabilidad de la Pyme, España
References
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Chen, G., Firth, M. and Xu, L. 2009. Does the type of ownership control matter? Evidence from China’s listed companies, Journal of Banking & Finance, 33 (1), pp. 171-181.
Chow, I. H. 2006. The relationship between entrepreneurial orientation and firm performance in China, SAM Advanced Management Journal, 71 (3), pp. 11-20.
Covin, J. G. 1991. Entrepreneurial versus conservative firms: a comparison of strategies and performance, Journal of Management Studies, 28 (5), pp. 439-462.
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Covin, J. G. and Miles, M. P. 1999. Corporate entrepreneurship and the pursuit of competitive advantage, Entrepreneurship Theory and Practice, 23, pp. 47-63.
Covin, J. G. and Slevin, D. P. 1989. Strategic management of small firms in hostile and benign environments, Strategic Management journal, 10 (1), pp. 75-87.
Covin, J. G. and Slevin, D. P. 1991. A conceptual model of entrepreneurship as firm behavior, Entrepreneurship Theory and Practice, 16, (1), pp 7-25.
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Dewenter, K. L. and Malatesta, P. H. 2001. State-owned and privately owned firms: an empirical analysis of profitability, leverage, and labour intensity, The American Economic Review, 91 (1), pp. 320-334.
Dimitratos, P., Lioukas, S. and Carter, S. 2004. The relationship between entrepreneurship and International performance: The importance of domestic environment, International Business Review, 13 (1) pp. 19-41.
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Galbraith, J. R. 1973. Designing complex organizations, Reading, MA, Addison-Wesley.
Garengo, P. and Bititci, U. 2007. Towards a contingency approach to performance measurement: an empirical study in Scottish SMEs, International journal of Operations & Production, 27 (8), pp. 802-825.
Griffin, P. A., Lont, D. H. and Sun, Y. 2010. Agency problem and audit fees: further tests of the free cash flow hypothesis, Accounting and Finance, 50 (2), pp. 321-350.
Hair, J. F. J., Anderson, R. E., Tatham, R. L. and Black, W. C. 1998. Multivariate data analysis, 5th edn, Upper Saddle River, NJ, Prentice Hall.
Hoque, Z. 2004. A contingency model of the association between strategy, environmental uncertainty and performance measurement: impact on organizational performance, International Business Review, 13 (4), pp. 485-502.
Hult, G. T. M., Hurley, R. F. and Knight, G. A. 2004. Innovativeness: Its antecedents and impact on business performance, Industrial Marketing Management, 33 (5), pp. 429-438.
Jensen, M. C. 1986. Agency costs of free cash flow, corporate finance, and takeovers, American Economic Review, 76 (2), pp. 323-329.
Jokipii, A. and Vahamaa, S. 2006. The free cash flow anomaly revisited: Finnish evidence, Journal of Business Finance & Accounting, 33 (7-8), pp. 961-978.
Kaynak, E. and Kuan, W. K. 1993. Environment, strategy, structure, and performance in the context of export activity: an empirical study of Taiwanese manufacturing firms, Journal of Business Research, 27 (1), pp. 33-49.
Khandwalla, P. N. 1972. Environment and its impact on the organization, International Studies of Management & Organization, 2 (3), pp. 297-313.
Khandwalla, P. N. 1976/77. Some top management styles, their context and performance, Organisation and Administrative Sciences, 7 (4), pp. 21-51.
Khandwalla, P. N. 1977. The design of organizations, Jovanovich, New York, Harcourt Brace.
Lawrence, P. and Lorsch, J. 1967. Organization and environment, Cambridge, Harvard Business School.
Lengnick-Hall, C. A. 1992. Innovation and competitive advantage: What we know and what we need to learn. Journal of Management, 18 (2), pp. 399-429.
Lumpkin, G. T. and Dess, G. G. 1996. Clarifying the entrepreneurial orientation construct and linking it to performance, Academy of Management Review, 21 (1), pp. 135-172.
Lumpkin, G. T. and Dess, G. G. 2001. Linking two dimensions of entrepreneurial orientation to firm performance: the moderating role of environment and industry life cycle, Journal of Business Venturing, 16 (5), pp. 429-451.
Lumpkin, G. T., Wales, W. J. and Ensley, M. D. 2006. Entrepreneurial orientation effects on new venture performance: the moderating role of venture age, Academy of Management Best Conference Paper 2006, ENT: N1-N7.
Madsen, E. L. 2007. The significance of sustained entrepreneurial orientation on performance of firms – A longitudinal analysis, Entrepreneurship & Regional Development, 19 (2), pp. 185-204.
Miller, D. 1983. The correlates of entrepreneurship in three types of firms, Management Science, 29 (7), pp. 770-791.
Miller, D. and Friesen, P. H. 1982. Innovation in conservative and entrepreneurial firms: two models of strategic momentum, Strategic Management Journal, 3 (1), pp. 1-25.
Moreno, A. M. and Casillas, J. C. 2008. Entrepreneurial orientation and growth of SMEs: A causal model, Entrepreneurship Theory and Practice, 32 (3), pp. 507-528.
Nasrallah, W. F. and QawasmeH, S. J. 2009. Comparing multi-dimensional contingency fit to financial performance of organizations, European Journal of Operational Research, 194 (3), pp. 911-921.
Porter, M. E. 1985. Competitive advantage: creating and sustaining superior performance, New York, Free Press.
Prior, D. 2003. Rendibilitat i generació de tresoreria a l’empresa industrial catalana, Perspectiva Econòmica de Catalunya – Cambra de Comerç de Barcelona, Març (03), pp. 63-69.
Randolph, W. A., Sapienza, H. J. and Watson, M. A. 1991. Technology-structure fit and performance in Small businesses: An examination of the moderating effects of organizational states, Entrepreneurship: Theory and Practice, 16 (1), pp. 27-41.
Rauch, A., Wiklund, J., Lumpkin, G. T. and Frese, M. 2009. Entrepreneurial orientation and business performance: an assessment of past research and suggestions for the future, Entrepreneurship Theory and Practice, 33 (3), pp. 761-787.
Richard, O. C., Wu, P. and Chadwick, K. 2009. The impact of entrepreneurial orientation on firm performance: the role of CEO position tenure and industry tenure, The international Journal of Human Resource Management, 20 (5), pp. 1078-1095.
Robertson, C. and Chetty, S. K. 2000. A contingency-based approach to understanding export performance, International Business Review, 9 (2), pp. 211-235.
Shane, S. and Venkataraman, S. 2000. The promise of entrepreneurship as a field of research, Academy of Management Review, 25 (1), pp. 217-226.
Slater, S. and Narver, J. 1995. Market orientation and the learning organization, Journal of Marketing, 59 (3), pp. 63-74.
Stevenson, H. H. and Jarillo, J. C. 1990. A paradigm of entrepreneurship: entrepreneurial management, Strategic Management Journal, 11 (5), pp. 17-27.
Tang, J., Tang, Z., Marino, L. D., Zhang, Y. and Li, Q. 2008. Exploring an inverted u-shape relationship between entrepreneurial orientation and performance in Chinese ventures, Entrepreneurship Theory and Practice, 32 (1), pp. 219-239.
Tang, J., Tang, Z., Zhang, Y. and Li, Q. 2007. The impact of entrepreneurial orientation and ownership type on firm performance in the emerging region of China, Journal of developmental Entrepreneurship, 12 (4), pp. 383-397.
Teece, D. J., Pisano, G. and Shuen, A. 1997. Dynamic capabilities and strategic management, Strategic Management Journal, 18 (7), pp. 509-533.
Teece, D. J. 2007. Explicating dynamic capabilities: the nature and microfoundations of (suatainable) enterprise performance, Strategic Management Journal, 28 (13), pp. 1319-1350.
Venkataraman, S. 1997. The distinctive domain of entrepreneurship research: an editor’s perspective, In Advances in Entrepreneurship , Firm Emergence, and Growth, Katz, J. and Brockhaus, R. (Eds.), Greenwich, CT, pp. 119-138.
Wernerfelt, B. 1984. The resource-based view of the firm, Strategic Management Journal, 5 (2), pp. 171-180.
Wiklund, J. 1999. The sustainability of the entrepreneurial orientation–performance relationship, Entrepreneurship Theory and Practice, 24 pp. 37-48.
Wiklund, J. and Shepherd, D. 2005. Entrepreneurial orientation, and small business performance: a configurational approach, Journal of Business Venturing, 20 (1) pp. 71-91.
Yamada, K. and Eshima, Y. 2009. Impact of entrepreneurial orientation: Longitudinal analysis of small technology firms in Japan, The Academy of Management Proceedings, Annual Meeting Proceedings (Conference Theme: Green Management Matters).
Yeoh, P. and Jeong, I. 1995. Contingency relationship between entrepreneurship, export channel structure and environment: a proposed conceptual model of export performance, European Journal of Marketing, 29 (8), pp. 95-115.
Zahra, S. A. and Covin, J. G. 1995. Contextual influences on the corporate entrepreneurship-performance relationship: a longitudinal analysis, Journal of Business Venturing, 10 (1), pp. 43-58.
Barney, J. 1991. Firm resources and sustained competitive advantage, Journal of Management, 17 (1), pp. 99-120.
Basso, O., Fayolle, A. and Bouchard, V. 2009. Entrepreneurial orientation: the making of a concept, The International Journal of Entrepreneurship and Innovation, 10 (4), pp. 313-321.
Brush, T. H., Bromiley, P. and Hendrickx, M. 2000, The free cash flow hypotheses for sales growth and firm performance, Strategic Management Journal, 21 (4), pp. 455-472.
Chandler, A. D. 1962. Strategy and structure, chapters in the History of the American Industrial Enterprise, Cambridge, MA, MIT Press.
Chen, G., Firth, M. and Xu, L. 2009. Does the type of ownership control matter? Evidence from China’s listed companies, Journal of Banking & Finance, 33 (1), pp. 171-181.
Chow, I. H. 2006. The relationship between entrepreneurial orientation and firm performance in China, SAM Advanced Management Journal, 71 (3), pp. 11-20.
Covin, J. G. 1991. Entrepreneurial versus conservative firms: a comparison of strategies and performance, Journal of Management Studies, 28 (5), pp. 439-462.
Covin, J. G. and Covin, T. J. 1990. Competitive aggressiveness, environmental context, and small firm performance, Entrepreneurship Theory and Practice, 14 (4), pp. 35-50.
Covin, J. G. and Miles, M. P. 1999. Corporate entrepreneurship and the pursuit of competitive advantage, Entrepreneurship Theory and Practice, 23, pp. 47-63.
Covin, J. G. and Slevin, D. P. 1989. Strategic management of small firms in hostile and benign environments, Strategic Management journal, 10 (1), pp. 75-87.
Covin, J. G. and Slevin, D. P. 1991. A conceptual model of entrepreneurship as firm behavior, Entrepreneurship Theory and Practice, 16, (1), pp 7-25.
Covin, J. G., Green, K. M. and Slevin, D. P. 2006. Strategic process effects on the entrepreneurial orientation-sales growth rate relationship, Entrepreneurship Theory and Practice, 30 (1), pp. 57-81.
Dewenter, K. L. and Malatesta, P. H. 2001. State-owned and privately owned firms: an empirical analysis of profitability, leverage, and labour intensity, The American Economic Review, 91 (1), pp. 320-334.
Dimitratos, P., Lioukas, S. and Carter, S. 2004. The relationship between entrepreneurship and International performance: The importance of domestic environment, International Business Review, 13 (1) pp. 19-41.
Donaldson, L. 2001. The contingency theory of organizations, United Kingdom, Sage Publications.
Ferreira, J., Azevedo, S. G. and Ortiz, R. F. 2011. Contribution of resource-based view and entrepreneurial orientation on small firm growth, Cuadernos de Gestión, 11 (1) pp. 95-116.
Galbraith, J. R. 1973. Designing complex organizations, Reading, MA, Addison-Wesley.
Garengo, P. and Bititci, U. 2007. Towards a contingency approach to performance measurement: an empirical study in Scottish SMEs, International journal of Operations & Production, 27 (8), pp. 802-825.
Griffin, P. A., Lont, D. H. and Sun, Y. 2010. Agency problem and audit fees: further tests of the free cash flow hypothesis, Accounting and Finance, 50 (2), pp. 321-350.
Hair, J. F. J., Anderson, R. E., Tatham, R. L. and Black, W. C. 1998. Multivariate data analysis, 5th edn, Upper Saddle River, NJ, Prentice Hall.
Hoque, Z. 2004. A contingency model of the association between strategy, environmental uncertainty and performance measurement: impact on organizational performance, International Business Review, 13 (4), pp. 485-502.
Hult, G. T. M., Hurley, R. F. and Knight, G. A. 2004. Innovativeness: Its antecedents and impact on business performance, Industrial Marketing Management, 33 (5), pp. 429-438.
Jensen, M. C. 1986. Agency costs of free cash flow, corporate finance, and takeovers, American Economic Review, 76 (2), pp. 323-329.
Jokipii, A. and Vahamaa, S. 2006. The free cash flow anomaly revisited: Finnish evidence, Journal of Business Finance & Accounting, 33 (7-8), pp. 961-978.
Kaynak, E. and Kuan, W. K. 1993. Environment, strategy, structure, and performance in the context of export activity: an empirical study of Taiwanese manufacturing firms, Journal of Business Research, 27 (1), pp. 33-49.
Khandwalla, P. N. 1972. Environment and its impact on the organization, International Studies of Management & Organization, 2 (3), pp. 297-313.
Khandwalla, P. N. 1976/77. Some top management styles, their context and performance, Organisation and Administrative Sciences, 7 (4), pp. 21-51.
Khandwalla, P. N. 1977. The design of organizations, Jovanovich, New York, Harcourt Brace.
Lawrence, P. and Lorsch, J. 1967. Organization and environment, Cambridge, Harvard Business School.
Lengnick-Hall, C. A. 1992. Innovation and competitive advantage: What we know and what we need to learn. Journal of Management, 18 (2), pp. 399-429.
Lumpkin, G. T. and Dess, G. G. 1996. Clarifying the entrepreneurial orientation construct and linking it to performance, Academy of Management Review, 21 (1), pp. 135-172.
Lumpkin, G. T. and Dess, G. G. 2001. Linking two dimensions of entrepreneurial orientation to firm performance: the moderating role of environment and industry life cycle, Journal of Business Venturing, 16 (5), pp. 429-451.
Lumpkin, G. T., Wales, W. J. and Ensley, M. D. 2006. Entrepreneurial orientation effects on new venture performance: the moderating role of venture age, Academy of Management Best Conference Paper 2006, ENT: N1-N7.
Madsen, E. L. 2007. The significance of sustained entrepreneurial orientation on performance of firms – A longitudinal analysis, Entrepreneurship & Regional Development, 19 (2), pp. 185-204.
Miller, D. 1983. The correlates of entrepreneurship in three types of firms, Management Science, 29 (7), pp. 770-791.
Miller, D. and Friesen, P. H. 1982. Innovation in conservative and entrepreneurial firms: two models of strategic momentum, Strategic Management Journal, 3 (1), pp. 1-25.
Moreno, A. M. and Casillas, J. C. 2008. Entrepreneurial orientation and growth of SMEs: A causal model, Entrepreneurship Theory and Practice, 32 (3), pp. 507-528.
Nasrallah, W. F. and QawasmeH, S. J. 2009. Comparing multi-dimensional contingency fit to financial performance of organizations, European Journal of Operational Research, 194 (3), pp. 911-921.
Porter, M. E. 1985. Competitive advantage: creating and sustaining superior performance, New York, Free Press.
Prior, D. 2003. Rendibilitat i generació de tresoreria a l’empresa industrial catalana, Perspectiva Econòmica de Catalunya – Cambra de Comerç de Barcelona, Març (03), pp. 63-69.
Randolph, W. A., Sapienza, H. J. and Watson, M. A. 1991. Technology-structure fit and performance in Small businesses: An examination of the moderating effects of organizational states, Entrepreneurship: Theory and Practice, 16 (1), pp. 27-41.
Rauch, A., Wiklund, J., Lumpkin, G. T. and Frese, M. 2009. Entrepreneurial orientation and business performance: an assessment of past research and suggestions for the future, Entrepreneurship Theory and Practice, 33 (3), pp. 761-787.
Richard, O. C., Wu, P. and Chadwick, K. 2009. The impact of entrepreneurial orientation on firm performance: the role of CEO position tenure and industry tenure, The international Journal of Human Resource Management, 20 (5), pp. 1078-1095.
Robertson, C. and Chetty, S. K. 2000. A contingency-based approach to understanding export performance, International Business Review, 9 (2), pp. 211-235.
Shane, S. and Venkataraman, S. 2000. The promise of entrepreneurship as a field of research, Academy of Management Review, 25 (1), pp. 217-226.
Slater, S. and Narver, J. 1995. Market orientation and the learning organization, Journal of Marketing, 59 (3), pp. 63-74.
Stevenson, H. H. and Jarillo, J. C. 1990. A paradigm of entrepreneurship: entrepreneurial management, Strategic Management Journal, 11 (5), pp. 17-27.
Tang, J., Tang, Z., Marino, L. D., Zhang, Y. and Li, Q. 2008. Exploring an inverted u-shape relationship between entrepreneurial orientation and performance in Chinese ventures, Entrepreneurship Theory and Practice, 32 (1), pp. 219-239.
Tang, J., Tang, Z., Zhang, Y. and Li, Q. 2007. The impact of entrepreneurial orientation and ownership type on firm performance in the emerging region of China, Journal of developmental Entrepreneurship, 12 (4), pp. 383-397.
Teece, D. J., Pisano, G. and Shuen, A. 1997. Dynamic capabilities and strategic management, Strategic Management Journal, 18 (7), pp. 509-533.
Teece, D. J. 2007. Explicating dynamic capabilities: the nature and microfoundations of (suatainable) enterprise performance, Strategic Management Journal, 28 (13), pp. 1319-1350.
Venkataraman, S. 1997. The distinctive domain of entrepreneurship research: an editor’s perspective, In Advances in Entrepreneurship , Firm Emergence, and Growth, Katz, J. and Brockhaus, R. (Eds.), Greenwich, CT, pp. 119-138.
Wernerfelt, B. 1984. The resource-based view of the firm, Strategic Management Journal, 5 (2), pp. 171-180.
Wiklund, J. 1999. The sustainability of the entrepreneurial orientation–performance relationship, Entrepreneurship Theory and Practice, 24 pp. 37-48.
Wiklund, J. and Shepherd, D. 2005. Entrepreneurial orientation, and small business performance: a configurational approach, Journal of Business Venturing, 20 (1) pp. 71-91.
Yamada, K. and Eshima, Y. 2009. Impact of entrepreneurial orientation: Longitudinal analysis of small technology firms in Japan, The Academy of Management Proceedings, Annual Meeting Proceedings (Conference Theme: Green Management Matters).
Yeoh, P. and Jeong, I. 1995. Contingency relationship between entrepreneurship, export channel structure and environment: a proposed conceptual model of export performance, European Journal of Marketing, 29 (8), pp. 95-115.
Zahra, S. A. and Covin, J. G. 1995. Contextual influences on the corporate entrepreneurship-performance relationship: a longitudinal analysis, Journal of Business Venturing, 10 (1), pp. 43-58.
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