“…Entrepreneurial orientation (EO), an attribute of a new venture that manifests as a strategic posture based on the extent to which the firm exhibits a sustained pattern of risk-taking, innovative and proactive behavior (Covin & Wales, 2019), has attracted considerable scholarly attention over the past two decades. EO is particularly popular among Asian (Hughes, Hodgkinson, Arshad, Hughes, & Leone, 2018a;Hughes, Hodgkinson, Hughes, & Arshad, 2018b) and Chinese studies (Cui, Fan, Guo, & Fan, 2018;Zheng & Zhao, 2017) because a disposition towards entrepreneurship among new ventures is vital to long-term competitiveness in economically-burgeoning and increasingly market-oriented countries such as China (e.g., Miller, 2011). New venture success promotes economic growth and social well-being in China (Cui et al, 2018).…”