Market Position, Information Advantage and Entrepreneurial Orientation:A Study on the Moderating Effect of Legal Environment

Abstract

Abstract:

Entrepreneurial orientation means decision-making and practice of market entry, which is one of the driving forces for the growth of micro-economic entities. Through the theoretical analysis and empirical test, this paper discusses the influence of enterprises' market position on their entrepreneurial orientation under the condition of information advantage. As information is not symmetrical and evenly distributed throughout the market, information advantage means potential economic values, which can stimulate the entrepreneurial orientation of enterprises; enterprises' market position will not necessarily make enterprises to enhance their entrepreneurship, while companies may be more inclined to use their market position to obtain benefits. This research shows that information advantage has direct effect on enterprises' entrepreneurial orientation, and also plays complementary role with their market position. The information advantage has a significant effect in reversing the non-active entrepreneurial orientation brought by the market position. Furthermore, the improvement of legal environment can enhance the mutual trust and cooperation and reduce the occurrence of opportunistic behavior among these enterprises, thus positively moderating the mechanism in which information advantage and market position act on entrepreneurial orientation.

Key words: market position, information advantage, legal environment, entrepreneurial orientation

Li Dehui, Fan Libo, Wu Shuang. Market Position, Information Advantage and Entrepreneurial Orientation:A Study on the Moderating Effect of Legal Environment[J]. , 2019, 31(4): 58-69.

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