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Casting a wider performance net: The role of entrepreneurial orientation in boosting overall firm stakeholder value

Published online by Cambridge University Press:  02 September 2015

Ali M Shahzad ,
William J Wales ,
Mark P Sharfman  and
Christopher M Stein
Ali M Shahzad*
Affiliation:
Department of Management, James Madison University, Harrisonburg, VA, USA
William J Wales
Affiliation:
School of Business, University at Albany, Albany, NY, USA
Mark P Sharfman
Affiliation:
Division of Management and Entrepreneurship, Price College of Business, University of Oklahoma, Norman, OK, USA
Christopher M Stein
Affiliation:
Department of Management, College of Business Administration, University of Central Florida, Orlando, FL, USA
*
Corresponding author: shahzaam@jmu.edu
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Abstract

This study offers a broader perspective on the effects of entrepreneurial orientation beyond its well-established implications for firm financial performance. Herein, it is suggested that through higher firm innovativeness, risk taking, and proactiveness entrepreneurial orientation contributes to an increase in the overall value accrued by the firm’s base of stakeholders. In doing so, we offer a broader perspective on the significance of an entrepreneurial orientation strategic posture for increasing stakeholder value beyond simply the financial value captured by firm shareholding stakeholders. Results from a comprehensive sample of 1,015 public US corporations indicate significant relationships between the three core dimensions of entrepreneurial orientation (innovativeness, risk taking, proactiveness) and stakeholder value, suggesting that how organizations behave entrepreneurially plays an important role in the firms generation of stakeholder value.

Keywords

entrepreneurial orientationstakeholder valuefirm performancelongitudinal research
Type
Research Article
Information
Journal of Management & Organization , Volume 22 , Issue 2 , March 2016 , pp. 272 - 290
Copyright
Copyright © Cambridge University Press and Australian and New Zealand Academy of Management 2015 

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