Orientación emprendedora, hostilidad del entorno y la rentabilidad de la Pyme: Una propuesta de contingencias
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This study investigates the effect of the entrepreneurial orientation (EO) on SME financial performance. The essay also proposes a contingency model to explore the moderating effects of environmental hostility on the relationship between EO and profitability. The study was conducted using a sample of 121 manufacturing SMEs in Spain. Results confirm the positive influence of EO on a firm's profitability. More importantly, the impact of EO on SME profitability is higher when there is a fit between EO and the external environment.
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