The purpose of this research is to understand the relationship between corporate entrepreneurship and firm performance of large firms in emerging economies, with consideration of the moderating effect of environmental dynamism. This is a quantitative and cross-sectional study, utilizing a multivariate second-order hierarchical component model. The partial least squares structural equation modeling method was employed for analysis. The findings indicate a highly positive impact of entrepreneurial orientation on profitability, while corporate venturing had a high but negative impact on profitability. Regarding the growth model, it was shown that entrepreneurial orientation had a positive but statistically insignificant impact on firm growth, while corporate venturing had a highly negative but statistically insignificant impact on firm growth. Interestingly, the results indicate that environmental dynamism did not have a moderating effect in this context. This paper has significant implications for senior management decision-making regarding the importance of corporate entrepreneurship in the growth and profitability of companies. It is recommended that large companies invest in entrepreneurial orientation because of its positive influence on profitability. This research fills a gap in the literature on the relationship between corporate entrepreneurship and firm performance in large companies in emerging economies. It highlights the importance of context-specific contingencies to the impact of corporate entrepreneurship on the performance of large companies and cautions against generalizing results across different countries, even those with seemingly similar contexts. The study confirms the positive relationship between entrepreneurial orientation and corporate profitability, particularly for large companies.

本研究的目的是了解新兴经济体大企业的企业创业与企业绩效之间的关系，并考虑环境活力的调节作用。这是一项定量和横断面研究，利用多元二阶分层组件模型。采用偏最小二乘结构方程建模方法进行分析。研究结果表明，创业导向对盈利能力有高度积极的影响，而企业风险投资对盈利能力有很大但负面的影响。关于增长模型，研究表明，创业导向对企业增长有积极但统计上不显着的影响，而企业风险投资对企业增长有高度负面但统计上不显着的影响。有趣的是，结果表明环境活力在这种情况下没有起到调节作用。本文对于高级管理层关于企业创业对公司增长和盈利能力的重要性的决策具有重要意义。建议大公司进行创业导向投资，因为它对盈利能力有积极影响。这项研究填补了新兴经济体大公司企业创业与企业绩效之间关系的文献空白。它强调了特定背景的突发事件对企业创业对大公司业绩影响的重要性，并警告不要在不同国家（即使是那些背景看似相似的国家）推广结果。