Assessing the entrepreneurial business performance from a dynamic capability and TOE framework: moderating role of crowdfunding support

Bindu Singh, Shefali Srivastava, Ranjan Chaudhuri, Sheshadri Chatterjee, Demetris Vrontis

    Research output: Contribution to journalArticlepeer-review

    Abstract

    Purpose: This study aims at assessing entrepreneurial business performance (EBP) from dynamic capability (DC) and technology-organization-environment (TOE) framework perspectives, taking support from crowdfunding. Design/methodology/approach: With the inputs from the literature, supported by TOE framework and the dynamic capability view (DCV), a model has been proposed. This model has been tested by the factor-based partial least squares structural equation modeling (PLS-SEM) technique through a survey and quantifying the responses of 406 respondents on a five-point Likert scale has been used. Findings: The study has found that crowdfunding support (CFS) has an effective influence on the improvement of EBP. Also, the DC supports to improve the EBP. Environmental dynamism (END) has also a critical role in impacting business performance. Research limitations/implications: Crowdfunding involves investors who have a similar interest in the business, close friends, family members, venture capitalists, investment groups, etc. Thus, the proposed model can be used by these stakeholders for investment purposes as well as for improving EBP. This study is a cross sectional research work which has limitations. Moreover, the sample size of this project is limited and did not include global respondents, Thus, the findings of this study cannot be generalizable which is another limitation of this study. Practical implications: Crowdfunding involves investors who have a similar interest in the business, such as close friends, family members, venture capitalists, investment groups, etc. Thus, the proposed model can be used by these stakeholders for investment purposes as well as for improving EBP. The study can help policymakers understand the importance of crowdfunding in promoting entrepreneurship activities in a region, which helps in the economic development of that region. Originality/value: This research work enriches the extant literature in the fields of crowdfunding and investment, DC and entrepreneurship. Not many studies have dealt with the issues of CFS for the improvement of EBP. Hence, this study may be considered novel. Moreover, the proposed research framework related to crowdfunding possesses a high predictive power. This makes the study unique.

    Original languageEnglish
    JournalJournal of Small Business and Enterprise Development
    DOIs
    Publication statusAccepted/In press - 2024

    Keywords

    • Business performance
    • Crowdfunding
    • Dynamic capability
    • Entrepreneurship
    • Environmental dynamism
    • TOE framework

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