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Journal Article The Effects of Network Reliance on Opportunity Recognition: A Moderated Mediation Model of Knowledge Acquisition and Entrepreneurial Orientation
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Authors
Geunhye Song, Sujin Min, Seungmin Lee, Yongseok Seo
Issue Date
2017-04
Citation
Technological Forecasting and Social Change, v.117, pp.98-107
ISSN
0040-1625
Publisher
Elsevier
Language
English
Type
Journal Article
DOI
https://dx.doi.org/10.1016/j.techfore.2017.01.004
Project Code
17ZE1100, A study on the Enhancement of R&D Planning Capacity for Insuring Global ICT Industry Leadership, Han Seong-Soo
Abstract
Opportunity recognition is one of the most important aspects of entrepreneurship. It is particularly crucial for new enterprises, as the identification of opportunities is an indispensable initial step for entrepreneurial activities. This study investigates the internal mechanism through which network reliance affects opportunity recognition. To reveal this internal mechanism, we propose a moderated mediation model of knowledge acquisition and entrepreneurial orientation. Using survey data from 278 startup managers in South Korea, hierarchical regression analysis and bootstrapping analysis are used to investigate mediation and moderation effects. The results show that knowledge acquisition positively mediates the relationship between network reliance and opportunity recognition. Moreover, entrepreneurial orientation negatively moderates not only the relationship between knowledge acquisition and opportunity recognition, but also the overall mediation model. This demonstrates that low entrepreneurial orientation individuals recognize opportunities better when they have accumulated enough business knowledge. Based on these findings, we conclude that opportunity recognition may be achieved more effectively through the complex process of networking, knowledge acquisition, and entrepreneurial orientation.
KSP Keywords
Business knowledge, Entrepreneurial activities, Entrepreneurial orientation, Hierarchical regression analysis, Initial step, Knowledge Acquisition, Mediation and moderation, Mediation model, South Korea, complex process, moderated mediation