ENTREPRENEURIAL ORIENTATION, INNOVATION AND FIRM PERFORMANCE: MODERATING ROLE OF MARKETING CAPABILITIES

摘要

This paper examines the role of marketing capabilities in innovation. Building on the dynamic capabilities and value create/capture perspectives, we propose a 'pathway to profitability' model with a nuanced chain of linkages between firm's entrepreneurial orientation (EO), marketing capabilities, innovation, and profitability. The results indicate that: (1) EO has a curvilinear relationship with innovation following an inverted U-shaped pattern, (2) architectural marketing capability (value creating lever) moderates this curvilinear effect in a favorable manner by reducing the curvilinearity and enabling EO's impact on innovation to be more monotonically increasing, (3) specialized marketing capability (value capturing lever) positively moderates the impact of innovation on firm profitability, and (4) the mediating effect of EO on profitability through innovation is contingent (moderated mediation) on the levels of both architectural and specialized marketing capability. Together, these complex effects have interesting implications for literatures on strategic orientation, marketing capabilities, and value creation/capture.