Artistic orientation, financial literacy and entrepreneurial performance

Abstract

PurposeThis study aims to examine the relationship between artistic orientation and entrepreneurial performance and how other central entrepreneurial resources, namely, entrepreneurial orientation and financial literacy, affect this relationship.Design/methodology/approachRegulatory focus theory was used to develop the model. A survey of 375 small creative business entrepreneurs was conducted in Yogyakarta, Indonesia, and a hierarchical linear regression was used for data analysis.FindingsThe results reveal a positive correlation between artistic orientation, entrepreneurial orientation, financial literacy and entrepreneurial performance. Therefore, artistic orientation affects a creative firm’s financial and nonfinancial performance. In addition, artistic orientation and financial literacy provide a positive influence on the overall performance of a creative venture. However, the interaction effect of entrepreneurial orientation and financial literacy on the artistic orientation – performance relationship – is invisiblePractical implicationsThis research provides guidance on how creative firms may focus on the acquisition, development and protection of useful resources, namely, artistic orientation and financial literacyOriginality/valueThis research is the first systematic empirical test evaluating the relationship between artistic orientation and entrepreneurial performance