A research on the moderator effects of environmental factors in relationship between entrepreneurship tendency, innovation capacity and financial performance

The aim of this study is to investigate the moderator effects of environmental factors on the relationship between entrepreneurship orientation, innovation capacity and financial performance. From this point of view, the main aim of the study is the dimensions of entrepreneurship orientation; To determine the relationship levels between innovation, proactivity and risk taking "and the concepts of innovation capacity and financial performance and to demonstrate the moderator effect of environmental dynamism and environmental competitiveness in this relationship.. For this purpose, the scope of the study consists of 210 firms that have got 50 or more employees with Research&Development centre in Istanbul and Kocaeli, and deliberate sampling method has been used. In the research, 167 survey forms were filled by face-to-face interviews, by telephone or by e-mail in August 2018 and June 2019 and department manager has been chosen, at least at the level of R & D. SPSS and SmartPLS3 programs were used in the analysis of the data obtained from the questionnaires. Before analyzing the research model, reliability and validity analyzes of the variables included in the research were done. Within the scope of reliability analysis; Cronbach's Alpha and rho_A, Composite Reliability values in structure reliability were used for internal consistency reliability. In the validity analysis, Average Variance Extracted (AVE) an values explained by factor loadings was used. Using the SmartPLS3 statistical program, the PLS algorithm was used to calculate linearity, path coefficients, R² and effect size (f²) values of the model and Blindfolding analyzes were used to calculate the predictive power (Q²). In order to evaluate the significance of PLS path coefficients, t-statistic values were calculated by taking 5000 sub-samples from the sample by re-sampling (Bootstrapping). According to the results of the analysis; while there was a statistically significant relationship between entrepreneurship orientation and innovation capacity and entrepreneurship orientation and financial performance, no significant relationship was found between innovation capacity and financial performance. Similarly, when the moderator effects of environmental factors are analyzed in the relationship between entrepreneurship orientation, innovation capacity and financial performance, it has been found that environmental dynamism and environmental competitiveness moderators are not statistically significant. Key Words: Entrepreneurship Orientation, Innovation Capacity, Financial Performance, Moderator Variable.