Entrepreneurial orientation and performance: Is innovation speed a missing link?

Existing research on entrepreneurial orientation primarily examines how entrepreneurial orientation contributes to the performance and survival rate of new ventures. This study develops a conceptual model to examine how innovation speed mediates the relationship between entrepreneurial orientation and performance. To test the proposed theoretical model, we collected data from 153 new ventures. While this study finds that faster innovation speed leads to superior performance, the empirical evidence challenge traditional views. Innovativeness increases, not decreases, innovation speed. Risk-taking reduces, not increases, innovation speed. Finally, proactiveness has inverted U-shaped effects on innovation speed. (C) 2015 Elsevier Inc. All rights reserved.