Effectuation, Exploratory Learning and New Venture Performance: Evidence from China
研究了中国转型经济背景下，效果逻辑如何通过探索式学习的中介作用提升新创企业绩效，对创业者和学者有参考价值。
This paper examines the effect of effectuation on new venture performance in the context of Chinese transitional economy. To determine how new ventures benefit from effectuation, we examine the role of exploratory learning as a key mediator. Using data from 266 Chinese new ventures, our results show that effectuation has a positive effect on new venture performance. Exploratory learning plays a fully mediating role in the relationship between effectuation and new venture performance. This empirical evidence contributes to the development of the theory of effectuation and also provides managerial guidelines for new ventures facing uncertain business environments like transitional economies.