Title: Radical innovation, market orientation, and risk-taking in Chinese new ventures: an exploratory study

Authors: Li Cai; Xiaoyu Yu; Qing Liu; Bang Nguyen

Addresses: School of Management, Jilin University, Changchun City, Jilin Province, 130022, China ' School of Management, Shanghai University, Shanghai, 200444, China ' School of Management, Jilin University, Changchun City, Jilin Province, 130022, China ' School of Business, East China University of Science and Technology, Shanghai, 200237, China

Abstract: Market orientation and innovation are important for economic growth. We examine market orientation, innovation radicalness, and propensity towards risk-taking in the unique context of China's transitional economy. Analysis of 235 responses from Chinese new ventures, created during the past eight years, suggests that innovation radicalness is affected by both responsive and proactive market orientation. Propensity towards risk-taking also positively affects innovation radicalness. Our results on responsive market orientation are counter to findings in Western contexts. Implications of the findings are useful to improve our understanding of innovation and entrepreneurship in transitional economies, particularly in the Chinese context.

Keywords: market orientation; radical innovation; risk taking; new ventures; China; transitional economies; entrepreneurship.

DOI: 10.1504/IJTM.2015.065896

International Journal of Technology Management, 2015 Vol.67 No.1, pp.47 - 76

Accepted: 14 Nov 2013
Published online: 29 Apr 2015 *

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