Entrepreneurial orientation (EO) has been identified as a central construct to understand how firms compete and perform effectively in increasingly competitive environments. Drawing on regulatory focus theory, this study examines how chief executive officers' (CEOs') regulatory focus, a motivational attribute that entails a promotion focus for growth and a prevention focus for safety, affects the EO of small and medium-sized enterprises (SMEs). Results from 110 UK SMEs show promotion focus positively, and prevention focus negatively affect EO when the two foci are examined independently. Our findings also demonstrate that EO varies significantly among firms led by CEOs with different combinations of the two foci. Specifically, firms engaged in significantly higher levels of EO when they are led by CEOs with a high rather than a low promotion focus, where prevention focus is at a high level. This study extends the literature by uncovering regulatory focus as a motivational microfoundation of EO.

中文翻译：

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首席执行官监管聚焦对中小企业创业导向的影响

创业导向（EO）已被确定为了解企业如何在竞争日益激烈的环境中有效竞争和表现的核心结构。本研究借鉴监管焦点理论，探讨首席执行官 (CEO) 的监管焦点（一种激励属性，需要促进增长和预防安全）如何影响中小型企业 (SME) ）。来自 110 家英国中小企业的结果显示，当单独检查这两个焦点时，促进焦点对 EO 产生积极影响，而预防焦点对 EO 产生负面影响。我们的研究结果还表明，在首席执行官领导的公司中，两个焦点的组合不同，EO 差异很大。具体来说，当首席执行官高度重视晋升而非低度（预防重点处于高水平）领导时，公司的 EO 水平显着提高。本研究通过揭示监管焦点作为 EO 的激励微观基础来扩展文献。