Entrepreneurial Orientation Development in Russian SMEs: Role of Institutional Environment
Abstract
The paper examines the impact of the perceived characteristics of institutional environment on the creation and development of entrepreneurial orientation (EO) in Russian SMEs. As the result of empirical analysis of 500 Russian SMEs it was found that perception of environment as hostile and dynamic is connected to Russian SMEs being more prone to innovation, rick-taking and proactiveness in order to remain competitive. Perception of institutions as protection of private property rights, business dependence on personal relationships with people in power, compliance with departmental standards and availability a contract with state are positively related to the level of EO in Russian SMEs. Whereas, the level of protection of the firm by contract law is negatively related to the level of EO in Russian SMEs.
Keywords:
entrepreneurial orientation, institutional environment, SMEs, Russia
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Articles of the Russian Management Journal are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.