Building on resource-based view (RBV) and contingency theory (CT), the purpose of this study is to explore how entrepreneurial alertness (EA) can promote entrepreneurial bricolage (EB), and then contributes to improving the new venture performance, with the environmental dynamism as the moderating variable. This study adopted a hierarchical regression analysis to test our hypotheses, using data from 463 founders of new ventures in China. The study found that: (1) EA has a positive effect on new venture performance, (2) EB mediates the effect of EA on new venture performance, (3) environmental dynamism (ED) moderates the relationship between EB and new venture performance, and (4) the mediating effect of EB is also moderated by ED. This article provides valuable and novel insights both theoretically and practically, that makes outstanding contributions to improving the performance of new ventures. Purpose: This study aims to explore how entrepreneurial alertness can promote entrepreneurial bricolage, and then contribute to improving the new venture performance, with the environmental dynamism as the moderating variable. Methods: We adopted a hierarchical regression analysis to test our hypotheses, using data from 463 founders of new ventures in China. Conclusions: Entrepreneurial alertness has a positive effect on new venture performance, entrepreneurial bricolage mediates the effect of entrepreneurial alertness on new venture performance, and environmental dynamism moderates the relationship between entrepreneurial bricolage and new venture performance. Moreover, the mediating effect of entrepreneurial bricolage is also moderated by environmental dynamism. Implications: This study (1) completes the theoretical model of how entrepreneurial alertness influences performance by studying the influence mechanism of entrepreneurial alertness on the performance in the context of new ventures, (2) provides novel insights to the entrepreneurship literature by investigating the mediating effect of entrepreneurial bricolage, and (3) contributes to strengthening the understanding of entrepreneurship process and expanding the knowledge base regarding contingency theory in the entrepreneurship field. Limitations: The cross-sectional data herein suggest that the conclusions may not reflect causality. Therefore, the dynamic model should be tested using longitudinal data in the future. This study focuses on the mechanism of entrepreneurial alertness on the performance in the context of new ventures, without considering the different stages of firm development, which should be tested in the future. CMV could still present a limitation, and future research should better control CMV via using questionnaires from multiple data sources.
