External knowledge resources and new venture success in developing economies: Leveraging innovative opportunities and legitimacy strategies

Francis Donbesuur, Magnus Hultman, Pejvak Oghazi*, Nathaniel Boso

*Corresponding author for this work

Research output: Contribution to journalArticleScientificpeer-review

4 Citations (Scopus)

Abstract

This study draws insights from entrepreneurial opportunity and organizational legitimacy perspectives to specify an intervening role of opportunity recognition and the contingency effect of entrepreneurial legitimacy to explain how and when external knowledge resources are associated with new venture performance. The conceptual model is tested on primary data from 230 new ventures operating in a sub-Saharan African economy: Ghana. Findings from the study indicate that the relationship between external knowledge resources and new venture performance is mediated by opportunity recognition and that high levels of both strategic and regulatory legitimacy strategies strengthen the indirect relationship. Theoretical implications and new venture management lessons drawn from these findings are discussed.

Original languageEnglish
Article number122034
Peer-reviewed scientific journalTechnological Forecasting and Social Change
Volume185
ISSN0040-1625
DOIs
Publication statusPublished - 22.09.2022
MoE publication typeA1 Journal article - refereed

Keywords

  • 512 Business and Management
  • Developing economies
  • External knowledge resources
  • Legitimacy strategies
  • New venture performance
  • Opportunity recognition capability

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