Moderating Role of Environmental Turbulence on the Relationship between Innovative Practice, Mentoring, Social Capital and Small Business Performance

Muzaffar Hussain Shah, Abdul Rahim B Othman, Mohd Najib bin Mansor


This current study explores the relationship between mentoring, social capital, innovation practices, environmental turbulence and small business performance. A proposed model has been developed on the basis of extensive literature. However, literature failed to find consistent conclusion about the relationship between innovative practices, social capital, mentoring and business performance and a range of performance related variables such as, sales growth, profitability and survival, even there is no symmetrical and precise definition of these variables which are wildly accepted. The novelty of this current study is that it provides valuable information for the implication for different sort of organizations to conceive the effect of mentoring, social capital, innovation practices on small business. In addition, the major contribution of this paper is to explore the moderating role of environmental turbulence on the relationship between mentoring, social capital, innovation practices and small business performance in developing economies. This paper provides useful information and adds knowledge to the literature aiming to increase their business performance.


Innovative practices, social capital, mentoring, environmental turbulence and small business performance.

Full Text:



Abernethy, M. A., Bouwens, J., & Lent, L. (2013). The role of performance measures in the intertemporal decisions of business unit managers. Contemporary Accounting Research, 30(3), 925-961.

Alguezaui, S., & Filieri, R. (2010). Investigating the role of social capital in innovation: sparse versus dense network. Journal of knowledge management,14(6), 891-909.

Al-Najjar, B., & Elgammal, M. M. (2013). Innovation and credit ratings, does it matter? UK evidence. Applied Economics Letters, 20(5), 428-431.

Anderson, A. R., Harbi, S. E., & Amamou, M. (2012).Innovation culture and the economic performance of Tunisian ICT firms. International Journal of Entrepreneurship and Innovation Management, 16(3), 191-208.

Anokhin, S., & Schulze, W. S. (2009).Entrepreneurship, innovation, and corruption. Journal of Business Venturing, 24(5), 465-476.

Antoncic, B., & Prodan, I. (2008). Alliances, corporate technological entrepreneurship and firm performance: Testing a model on manufacturing firms. Technovation, 28(5), 257-265.

Arundel, A., Robertson, P., & Torugsa, N. (2013).The Development and Adoption of Product and Process Innovations in European Firms.In R&D Management Conference (pp. 1-15).

Atalay, M., Anafarta, N., & Sarvan, F. (2013). The relationship between innovation and firm performance: An empirical evidence from Turkish automotive supplier industry. Procedia-Social and Behavioral Sciences, 75, 226-235.

Augusto, M., & Coelho, F. (2009). Market orientation and new-to-the-world products: Exploring the moderating effects of innovativeness, competitive strength, and environmental forces. Industrial Marketing Management, 38(1), 94-108.

Azadegan, A., Patel, P. C., Zangoueinezhad, A., & Linderman, K. (2013).The effect of environmental complexity and environmental dynamism on lean practices. Journal of Operations Management, 31(4), 193-212.

Baderman, B. A. (2009). The female entrepreneur: An exploration of mentoring and perceived general self-efficacy (Doctoral dissertation, Capella University).

Balan, P., & Lindsay, N. J. (2010). Innovation capability, entrepreneurial orientation and performance in Australian hotels: An empirical study. Cooperative Research Centre for Sustainable Tourism.

Bernardes, E. S. (2010). The effect of supply management on aspects of social capital and the impact on performance: A social network perspective. Journal of Supply Chain Management, 46(1), 45-55.

Blackburn, R. A., Hart, M., & Wainwright, T. (2013). Small business performance: business, strategy and owner-manager characteristics. Journal of small business and enterprise development, 20(1), 8-27.

Bottazzi, G., Secchi, A., & Tamagni, F. (2014). Financial constraints and firm dynamics. Small Business Economics, 42(1), 99-116.

Brammer, S., Hoejmose, S., & Marchant, K. (2012). Environmental management in SMEs in the UK: practices, pressures and perceived benefits. Business Strategy and the Environment, 21(7), 423-434.

Brettel, M., Land, S., Thalmann, J., & Austermann, D. (2012). Cultural differences in leadership in SMEs: new product development in China and Germany. European Journal of International Management, 6(6), 651-675.

Brouthers, K. D. (2013). Institutional, cultural and transaction cost influences on entry mode choice and performance. Journal of international business studies,33(2), 203-221.

Burtan Doğan, B. (2013). Understanding and Measuring the Role of Investors’ Social Capital Level in the Development Process: A Case Study from Turkey. International Journal of Economics and Financial Issues, 3(2), 386-408.

Cadeaux, J., & Ng, A. (2012). Environmental uncertainty and forward integration in marketing: theory and meta-analysis. European Journal of Marketing, 46(1/2), 5-30.

Calantone, R. J., Cavusgil, S. T., & Zhao, Y. (2002).Learning orientation, firm innovation capability, and firm performance.Industrial marketing management, 31(6), 515-524.

Campbell, D. (2008). Nonfinancial Performance Measures and Promotion‐Based Incentives. Journal of Accounting Research, 46(2), 297-332.

Cao, L. (2011). Dynamic capabilities in a turbulent market environment: empirical evidence from international retailers in China. Journal of Strategic Marketing, 19(5), 455-469.

Carlsson, B. (1996). Innovation and success in Sweden: technological systems. Evolutionary Economics and the New International Political Economy, New York: Pinter.

Chao, G. T. (1997). Mentoring phases and outcomes.Journal of vocational behavior, 51(1), 15-28.

Chao, G. T., Walz, P., & Gardner, P. D. (1992). Formal and informal mentorships: A comparison on mentoring functions and contrast with nonmentored counterparts. Personnel psychology, 45(3), 619-636.

Chaston, I., Badger, B. and Sadler Smith, E. (1999), ‘Small firm organizational learning: comparing perceptions of need and style among UK support service advisors and small firm managers’, Journal of European Industrial Training, 23, 1, 36-43.

Chea, P. (2009). Relationship between entrepreneurs' value, firm financing, market practices and growth performance of small-medium enterprises in cambodia. Sintok, Kedah, Malaysia: PhD Thesis, UUM.

Chi, T., & Sun, Y. (2013). Development of firm export market oriented behavior: Evidence from an emerging economy. International Business Review, 22(1), 339-350.

Chrisman, J. J., Chua, J. H., Pearson, A. W., & Barnett, T. (2012).Family Involvement, Family Influence, and Family‐centered Non‐economic Goals in Small Firms. Entrepreneurship theory and practice, 36(2), 267-293.

Chun, J. U., Sosik, J. J., & Yun, N. Y. (2012).A longitudinal study of mentor and protégé outcomes in formal mentoring relationships.Journal of Organizational Behavior, 33(8), 1071-1094.

Clutterbuck, D. (2002), Why mentoring programmes and relationships fail. Retrieved

August 29, 2013 from

Cope, J. (2011). Entrepreneurial learning from failure: An interpretative phenomenological analysis. Journal of Business Venturing, 26(6), 604-623.

Cosh, A., Duncan, J., and Hughes, A. (1998), Investment in Training and Small Firm

Growth and Survival: An Empirical Analysis for the UK 1987-95, Research

Report No. 36, 36, Nottingham: Department for Enterprise and Education.

Cravo, T. A., Gourlay, A., & Becker, B. (2012).SMEs and regional economic growth in Brazil.Small Business Economics, 38(2), 217-230.

Cruz-González, J., López-Sáez, P., Navas-López, J. E., & Delgado-Verde, M. (2015). Open search strategies and firm performance: The different moderating role of technological environmental dynamism. Technovation, 35, 32-45.

Czarnitzki, D., & Kraft, K. (2004). Innovation indicators and corporate credit ratings: evidence from German firms. Economics Letters, 82(3), 377-384.

Damanpour, F. (1992).Organizational size and innovation. Organization studies, 13(3), 375-402.

Damanpour, F. (2010).An integration of research findings of effects of firm size and market competition on product and process innovations. British Journal of Management, 21(4), 996-1010.

Dew, D. W., Alan, G. M., & Tomlinson, P. (2008). Recruitment and retention of vocational rehabilitation counselors (Institute on Rehabilitation Issues Monograph No. 33). Washington, DC: George Washington University. Center for Rehabilitation Counseling Research and Education.

Didonet, S., Simmons, G., Díaz-Villavicencio, G., & Palmer, M. (2012).The relationship between small business market orientation and environmental uncertainty. Marketing Intelligence & Planning, 30(7), 757-779.

Doole, I., & Lowe, R. (2012).International marketing strategy. Cengage Learning.

Dougherty, T. W., Turban, D. B., & Haggard, D. L. (2007). Naturally occurring mentoring relationships involving workplace employees. The Blackwell handbook of mentoring: A multiple perspective approach, 139-158.

Eby, L. T., McManus, S. E., Simon, S. A., & Russell, J. E. A. (2000), The protégé’s

perspective regarding negative mentoring experiences: The development of a

taxonomy. Journal of Vocational Behaviour. 57(1), 1-21.

Eggert, A., Hogreve, J., Ulaga, W., & Muenkhoff, E. (2011). Industrial services, product innovations, and firm profitability: a multiple-group latent growth curve analysis. Industrial Marketing Management, 40(5), 661-670.

Ettlie, J. E., & Reza, E. M. (1992).Organizational integration and process innovation. Academy of Management Journal, 35(4), 795-827.

Filippetti, A., & Archibugi, D. (2011). Innovation in times of crisis: National Systems of Innovation, structure, and demand. Research Policy, 40(2), 179-192.

Forsman, H., & Temel, S. (2011). Innovation and business performance in small enterprises: an enterprise-level analysis. International Journal of Innovation Management, 15(03), 641-665.

Fullerton, R. R., & Wempe, W. F. (2009). Lean manufacturing, non-financial performance measures, and financial performance. International Journal of Operations & Production Management, 29(3), 214-240.

Galia, F., & Legros, D. (2004). Complementarities between obstacles to innovation: evidence from France. Research policy, 33(8), 1185-1199.

Gallego, J., Rubalcaba, L., & Hipp, C. (2013). Organizational innovation in small European firms: A multidimensional approach. International Small Business Journal, 31(5), 563-579.

Garvey, B., & Garrett-Harris, R. (2008). The Benefits of Mentoring: A literature review for East Mentor’s Forum. Sheffield: Sheffield Hallam University.

Gatti, U. B. E. R. T. O., & Tremblay, R. E. (2005).Social capital and physical violence. Developmental origins of aggression (eds RE Tremblay, WW Hartup & J. Archer), 398-424.

Geroski, P., Machin, S., & Van Reenen, J. (1993).The profitability of innovating firms.The RAND Journal of Economics, 198-211.

Gibb, S. (1994b), Evaluating mentoring .Education & Training, 36(5), 32-39.

Goedhuys, M., & Veugelers, R. (2012). Innovation strategies, process and product innovations and growth: Firm-level evidence from Brazil. Structural Change and Economic Dynamics, 23(4), 516-529.

Goktan, A. B., & Miles, G. (2011). Innovation speed and radicalness: are they inversely related?.Management Decision, 49(4), 533-547.

Gorgievski, M. J., Ascalon, M. E., & Stephan, U. (2011). Small business owners' success criteria, a values approach to personal differences. Journal of Small Business Management, 49(2), 207-232.

Gray, D. E., Ekinci, Y., & Goregaokar, H. (2011). Coaching SME managers: business development or personal therapy? A mixed methods study.The International Journal of Human Resource Management, 22(04), 863-882.

Gronum, S., Verreynne, M. L., & Kastelle, T. (2012).The Role of Networks in Small and Medium‐Sized Enterprise Innovation and Firm Performance.Journal of Small Business Management, 50(2), 257-282.

Gunday, G., Ulusoy, G., Kilic, K., & Alpkan, L. (2011).Effects of innovation types on firm performance.International Journal of Production Economics, 133(2), 662-676.

Hashim, J. (2008). Competencies acquisition through self-directed learning among Malaysian managers.Journal of workplace learning, 20(4), 259-271.

Hegstad, C. D., & Wentling, R. M. (2004).The development and maintenance of exemplary formal mentoring programs in fortune 500 companies.Human Resource Development Quarterly, 15(4), 421-448.

Henard, D. H., & Dacin, P. A. (2010). Reputation for Product Innovation: Its Impact on Consumers*. Journal of Product Innovation Management, 27(3), 321-335.

Heunks, F. J. (1998). Innovation, creativity and success.Small Business Economics, 10(3), 263-272.

Hoigaard, R., & Mathisen, P. (2009).Benefits of formal mentoring for female leaders.International Journal of Evidence Based Coaching and Mentoring, 7(2), 64-70.

Hotho, S., & Champion, K. (2011). Small businesses in the new creative industries: innovation as a people management challenge. Management Decision, 49(1), 29-54.

Howieson, J., Lawley, M., & Selen, W. (2014).New Product Development in Small Food Enterprises.Journal of New Business Ideas and Trends, 12(1), 11-26.

Hsu, Y. (2011). Design innovation and marketing strategy in successful product competition. Journal of Business & Industrial Marketing, 26(4), 223-236.

Hung, K. P., & Chou, C. (2013). The impact of open innovation on firm performance: The moderating effects of internal R&D and environmental turbulence. Technovation, 33(10), 368-380

Jansen, R. J., Curseu, P. L., Vermeulen, P. A., Geurts, J. L., & Gibcus, P. (2011). Social capital as a decision aid in strategic decision-making in service organizations.Management Decision, 49(5), 734-747.

Jiménez-Jiménez, D., & Sanz-Valle, R. (2011).Innovation, organizational learning, and performance.Journal of business research, 64(4), 408-417.

Johannesson, J., & Palona, I. (2010). Environmental turbulence and the success of a firm's intelligence strategy: development of research instruments. International Journal of Management, 27(3), 448.

Kanazawa, S., & Savage, J. (2009). Why nobody seems to know what exactly social capital is. Journal of Social, Evolutionary, and Cultural Psychology, 3(2), 118.

Kaya, N., & Patton, J. (2011). The effects of knowledge‐based resources, market orientation and learning orientation on innovation performance: An empirical study of Turkish firms. Journal of international development, 23(2), 204-219.

Kennan, W. R., & Hazleton, V. (2006).Internal public relations, social capital, and the role of effective organizational communication.Public relations theory II, 311-338.

Kent, T., Dennis, C., & Tanton, S. (2003). An evaluation of mentoring for SME retailers.International Journal of Retail & Distribution Management, 31(8), 440-448.

Kim, Y., &Gao, F. Y. (2013). Does family involvement increase business performance? Family-longevity goals’ moderating role in Chinese family firms.Journal of Business Research, 66(2), 265-274.

Koyuncu, M., J. Burke, R., Alayoglu, N., & Wolpin, J. (2014). Mentoring relationships among managerial and professional women in Turkey: Potential benefits?.Cross Cultural Management, 21(1), 2-22.

Laforet, S. (2008). Size, strategic, and market orientation affects on innovation. Journal of business Research, 61(7), 753-764.

Lechner, C., & Gudmundsson, S. V. (2014). Entrepreneurial orientation, firm strategy and small firm performance.International Small Business Journal, 32(1), 36-60.

Leonidou, L. C., & Samiee, S. (2012). Born global or simply rapidly internationalizing? Review, critique, and future prospects.M. Gabrielsson and VHM Kirpalani, eds, 16-35.

Lin, J., & Steven, X. S. (2010). Can Guanxi be a problem? Contexts, tics, and some unfavorable consequences of social capital in China. Asia Pacific Journal of Management, 27(3), 561-581.

LiPuma, J. A., Newbert, S. L., & Doh, J. P. (2013). The effect of institutional quality on firm export performance in emerging economies: a contingency model of firm age and size. Small Business Economics, 40(4), 817-841.

Macpherson, A. and Wilson, A. (2003), ‘Enhancing SMEs’ capability: opportunities in

supply chain management’, Journal of Small Business and Enterprise

Development, 10(2), 167-179

Malhotra, R., & Temponi, C. (2010). Critical decisions for ERP integration: Small business issues. International Journal of Information Management, 30(1), 28-37.

Matanda, M. J., & Freeman, S. (2009). Effect of perceived environmental uncertainty on exporter–importer inter-organisational relationships and export performance improvement.International Business Review, 18(1), 89-107.

Matook, S. (2013).Measuring the performance of electronic marketplaces: An external goal approach study.Decision Support Systems, 54(2), 1065-1075.

Mavondo, F. T., Chimhanzi, J., & Stewart, J. (2005).Learning orientation and market orientation: Relationship with innovation, human resource practices and performance.European journal of marketing, 39(11/12), 1235-1263.

McGregor, J., & Tweed, D. (2002).Profiling a new generation of female small business owners in New Zealand: Networking, mentoring and growth.Gender, Work & Organization, 9(4), 420-438.

Moreno, A. M., & Casillas, J. C. (2008). Entrepreneurial orientation and growth of SMEs: A causal model. Entrepreneurship Theory and Practice, 32(3), 507-528.

Muchau, R. N. (2013). The effect of mentorship program on business performance amongst Micro, Small and Medium Enterprises (MSME) in Nairobi County (Doctoral dissertation, University of Nairobi).

Murphy, G. B., Trailer, J. W., & Hill, R. C. (1996).Measuring performance in entrepreneurship research.Journal of business research, 36(1), 15-23.

Murray, M. (2002).Beyond the myths and magic of mentoring: How to facilitate an effective mentoring process. John Wiley & Sons.

Nandakumar, M. K., Ghobadian, A., & O'Regan, N. (2010). Business-level strategy and performance: The moderating effects of environment and structure. Management Decision, 48(6), 907-939.

Naranjo Valencia, J. C., Sanz Valle, R., & Jiménez Jiménez, D. (2010).Organizational culture as determinant of product innovation.European Journal of Innovation Management, 13(4), 466-480.

Nasir, H., Mansor, M. F., & Abu, N. H. (2015). The Moderating Effect of Intellectual Capital on the Relationship of Innovation Practices in SME’s Performance. Advanced Science Letters, 21(5), 1409- 1412.

Njoku, A. C., Ihugba, O. A., & Odii, A. (2014).Theoretical analysis of entrepreneurship challenges and prospects in Nigeria.International Letters of Social and Humanistic Sciences, (05), 21-34.

Nooteboom, B. (1994). Innovation and diffusion in small firms: theory and evidence. Small Business Economics, 6(5), 327-347.

Núñez-Cacho Utrilla, P., & Grande Torraleja, F. Á. (2013).The importance of mentoring and coaching for family businesses. Journal of Management & Organization, 19(04), 386-404.

Oke, A., Walumbwa, F. O., & Myers, A. (2012). Innovation Strategy, Human Resource Policy, and Firms' Revenue Growth: The Roles of Environmental Uncertainty and Innovation Performance*. Decision Sciences, 43(2), 273-302.

Olson, E. M., Walker Jr, O. C., & Ruekert, R. W. (1995).Organizing for effective new product development: the moderating role of product innovativeness.The Journal of Marketing, 48-62.

Pakistan Economic Survey (2013-2014). Government of Pakistan, Economic Advisor’s Wing, Finance Division, Islamabad, Pakistan.

Parker, S. C., & van Praag, C. M. (2012). The entrepreneur's mode of entry: Business takeover or new venture start?.Journal of Business Venturing, 27(1), 31-46.

Perks, P. S., & Oosthuizen, N. (2013). Exploring Supplier Negotiation Best Practices and Supplier Relationships Strategies in South Africa.Rev.

Pirolo, L., & Presutti, M. (2010).The Impact of Social Capital on the Start‐ups' Performance Growth.Journal of Small Business Management, 48(2), 197-227.

Pompa, C. (2012). Literature Review on enterprise mentoring.

Portes, A. (2000). Social capital: Its origins and applications in modern sociology. LESSER, Eric L. Knowledge and Social Capital. Boston: Butterworth-Heinemann, 43-67.

Raymond, L., Marchand, M., St-Pierre, J., Cadieux, L., & Labelle, F. (2013). Dimensions of small business performance from the owner-manager's perspective: a re-conceptualization and empirical validation. Entrepreneurship & Regional Development, 25(5-6), 468-499.

Rehfeld, K. M., Rennings, K., & Ziegler, A. (2007). Integrated product policy and environmental product innovations: An empirical analysis. Ecological Economics, 61(1), 91-100.

Robinson, D. M., & Reio Jr, T. G. (2012).Benefits of mentoring African-American men.Journal of Managerial Psychology, 27(4), 406-421.

Rody, R. C., & Stearns, T. M. (2013).Impact of Entrepreneurial Style and Managerial Characteristics on SME Performance in Macao SAR, China.Journal of Multidisciplinary Research, 5(1), 27-44.

Rosenbusch, N., Brinckmann, J., & Bausch, A. (2011). Is innovation always beneficial? A meta-analysis of the relationship between innovation and performance in SMEs.Journal of Business Venturing, 26(4), 441-457.

Saira, K., Zariyawati, M. A., & Annuar, M. N. (2010). Information system and firms’ performance: the case of Malaysian small medium enterprises.International business research, 3(4), p28.

Salunke, S., Weerawardena, J., & McColl-Kennedy, J. R. (2011). Towards a model of dynamic capabilities in innovation-based competitive strategy: Insights from project-oriented service firms. Industrial Marketing Management, 40(8), 1251-1263.

San, O. T., Theen, Y. M., & Heng, T. B. (2012).The reward strategy and performance measurement (evidence from Malaysian insurance companies).International Journal of Business, Humanities and Technology, 2(1), 211-223.

Scandura, T. A. (1998). Dysfunctional mentoring relationships and outcomes.Journal of Management, 24(3), 449-467.

Scandura, T. A., & Pellegrini, E. K. (2007). Workplace mentoring: Theoretical approaches and methodological issues. The Blackwell handbook of mentoring: A multiple perspectives approach, 71-91.

Sethi, R., & Sethi, A. (2009). Can Quality‐Oriented Firms Develop Innovative New Products?.Journal of Product Innovation Management, 26(2), 206-221.

Sheikh, M., Hasnu, S., & Khan, I. (2016). Link between HR practices and organizational performance in small firms: A case for manufacturing sector of Pakistan. Management Science Letters, 6(1), 71-86.

Sherifat, Y. O. (2013). Gender Differentials in Factors Affecting Performance of Small-Scale Enterprises in Lagos State, Nigeria. Innovative Issues and Approaches in Social Sciences, 6(2), 21-39.

Slater, S., Olson, E., & Finnegan, C. (2011). Business strategy, marketing organization culture, and performance. Marketing Letter, 22, 227-242.

St-Jean, E., & Tremblay, M. (2011). Opportunity recognition for novice entrepreneurs: The benefits of learning with a mentor. Academy of Entrepreneurship Journal, 17(2), 37-48.

Storberg, J. (2002). The evolution of capital theory: A critique of a theory of social capital and implications for HRD. Human Resource Development Review, 1(4), 468-499.

Stuetzer, M., Goethner, M., & Cantner, U. (2012). Do balanced skills help nascent entrepreneurs to make progress in the venture creation process?.Economics Letters, 117(1), 186-188.

Subhan, Q. A., Mehmood, M. R., & Sattar, A. (2013, January).Innovation in Small and Medium Enterprises (SME’s) and its impact on Economic Development in Pakistan. In Paper was presented in 6th International Business and Social Sciences Research Conference, 3-4.

Sundqvist, S., Kyläheiko, K., Kuivalainen, O., & Cadogan, J. W. (2012).Kirznerian and Schumpeterian entrepreneurial-oriented behavior in turbulent export markets.International Marketing Review, 29(2), 203-219.

Tan, J., Fischer, E., Mitchell, R., & Phan, P. (2009). At the center of the action: Innovation and technology strategy research in the small business setting. Journal of Small Business Management, 47(3), 233-262.

Teeratansirikool, L., Siengthai, S., Badir, Y., & Charoenngam, C. (2013). Competitive strategies and firm performance: the mediating role of performance measurement. International Journal of Productivity and Performance Management, 62(2), 168-184.

Terziovski, M. (2010). Innovation practice and its performance implications in small and medium enterprises (SMEs) in the manufacturing sector: a resource‐based view. Strategic Management Journal, 31(8), 892-902

Tsai, K. H., & Yang, S. Y. (2014).The contingent value of firm innovativeness for business performance under environmental turbulence.International Entrepreneurship and Management Journal, 10(2), 343-366.

Wagner, E. R., & Hansen, E. N. (2005). Innovation in large versus small companies: insights from the US wood products industry. Management Decision, 43(6), 837-850.

Wang, M. C., & Fang, S. C. (2012).The moderating effect of environmental uncertainty on the relationship between network structures and the innovative performance of a new venture.Journal of Business & Industrial Marketing, 27(4), 311-323.

Wang, Z., & Wang, N. (2012).Knowledge sharing, innovation and firm performance.Expert systems with applications, 39(10), 8899-8908.

Watson, W., Cooper, D., Pavur, R., & Torres, J. L. N. (2011). Managerial characteristics, operational observations, and small business performance: A comparison of US and Mexican ventures. International Journal of Intercultural Relations, 35(5), 604-613.

Weiss, B., & Welsh, D. H. (2013). Entrepreneurship and small business in Eastern Europe: overcoming challenges, sustaining growth. International Journal of Globalisation and Small Business, 5(3), 148-169.

Wiklund, J., & Shepherd, D. (2005). Entrepreneurial orientation and small business performance: a configurational approach. Journal of business venturing, 20(1), 71-91.

Willebrands, D., Lammers, J., & Hartog, J. (2012). A successful businessman is not a gambler. Risk attitude and business performance among small enterprises in Nigeria.Journal of Economic Psychology, 33(2), 342-354.

Wiltbank, R., Read, S., Dew, N., & Sarasvathy, S. D. (2009). Prediction and control under uncertainty: Outcomes in angel investing. Journal of Business Venturing, 24(2), 116-133.

Wolff, J. A., & Pett, T. L. (2006). Small‐Firm Performance: Modeling the Role of Product and Process Improvements*. Journal of Small Business Management, 44(2), 268-284.

Yang, J. (2012). Innovation capability and corporate growth: An empirical investigation in China. Journal of Engineering and Technology Management, 29(1), 34-46.

Yang, R., & He, X. (2014). A Framework for Research and Practice: Relationship between Expatriate Knowledge Transfer, Subsidiary Absorptive Capacity, and Subsidiary Performance. Open Journal of Business and Management, 2014.

Yongqiang, L., Armstrong, A., & Clarke, A. (2012).An instrument variable model of the impact of financing decisions on performance of small businesses in Australia’s Pre-global Financial Crisis.Journal of Modern Accounting and Auditing, Victoria University, Melbourne, Australia, 8(7), 1052-1065.

Zahra, S. A., & Garvis, D. M. (2000). International corporate entrepreneurship and firm performance: The moderating effect of international environmental hostility. Journal of Business Venturing, 15(5), 469-492.

Zhang, J., & Duan, Y. (2010). The impact of different types of market orientation on product innovation performance: evidence from Chinese manufacturers. Management Decision, 48(6), 849-867.

Zhu, Y., Wittmann, X., & Peng, M. W. (2012).Institution-based barriers to innovation in SMEs in China.Asia Pacific Journal of Management, 29(4), 1131-1142.


  • There are currently no refbacks.

Creative Commons License
This work is licensed under a Creative Commons Attribution 3.0 License.