The Influence of Institutional Support on the Innovation Performance of New Ventures: The Mediating Mechanism of Entrepreneurial Orientation

Abstract

Existing research on enterprise innovation focuses on internal perspectives such as resource and capabilities. However, enterprise innovation needs not only the input of enterprises themselves, but also the support of institutional environments. Based on the institution–strategy–performance research paradigm, which combines perspectives from both institutional theory and resource-based theory, this research explores the mechanism of institutional support on the innovation performance of new ventures, focusing on the mediating role of entrepreneurial orientation and the moderating role of innovative resource acquisition. An empirical analysis based on 278 survey samples shows that: (formal/informal) institutional support positively affects the innovation performance of new ventures; entrepreneurial orientation plays an intermediary role between institutional support and the innovation performance of new ventures; innovation resource acquisition not only positively regulates the relationship between entrepreneurial orientation and the innovation performance of new ventures, but also enhances the mediation of entrepreneurial orientation between institutional support and innovation performance. The conclusion shows that institutional support plays an important role in the innovation practice of new ventures, and can provide guidance for the innovation management practices of new ventures. This study discusses the theoretical and managerial implications for enterprise innovation research in detail by identifying and testing the relationships among these constructs.