Transformations  in
Business & Economics

WIN OR FAIL TOGETHER? THE EFFECT OF TEAM ENTREPRENEURIAL PASSION ON NEW VENTURE PERFORMANCE⁵
Yuyan Shen, Yan Qian

ABSTRACT: In recent years, innovation and entrepreneurship have become the important impetus of technological and industrial development. The growth and development of new ventures have aroused widespread concern. However, few empirical studies on the relationship of team entrepreneurial passion, entrepreneurial learning and new venture performance based on the moderating effect of team cooperative orientation have been conducted. To explore the entrepreneurial learning methods to improve new venture performance, using 326 valid questionnaire data of new ventures in the Yangtze River Delta in China, the relationship among team entrepreneurial passion, entrepreneurial learning and new venture performance were empirically analysed. Furthermore, the moderating effects of team cooperative orientation on team entrepreneurial passion and new venture performance were explored. Results show that team shared identity, team shared affect, and team autonomous motivation significantly and positively influence new venture performance. Furthermore, exploratory learning and exploitative learning mediate the relations among team shared identity, team shared affect, and team autonomous motivation and new venture performance. Additionally, team cooperative orientation moderates the interaction between team entrepreneurial passion and new venture performance positively. This study discloses the influencing mechanism of team entrepreneurial passion on new venture growth to some extent and provides decision references to management and practices to improve new venture performance.

KEYWORDS:  team entrepreneurial passion, entrepreneurial learning, new venture performance, pursue innovation, cooperation efficiency, communication and interaction, exploratory learning, exploitive learning, shared identity, cooperative inclusiveness.

JEL classification:  M14, M19, P2.

⁵Acknowledgments:  This study was supported by the Soft Science Project of Zhejiang province in China (2021C35122); the Zhejiang Educational Science Planning in China (2022SCG025); the Scientific Research Fund of Qianjiang College, Hangzhou Normal University (2022QJJG01); the Higher Education Research Project of Zhejiang province (2022-416).