The moderating effect of governance form on the relationship between corporate technological entrepreneurship activities and corporate financial performance: An empirical study on Chinese high-tech firms

While corporate entrepreneurship (CE) was regarded important to revitalize companies and improve their financial performance, the relationship between CE and firm performance is more complex than linear. Of many factors moderating corporate entrepreneurship-performance relationship, governance form is one that received inadequate research attention. The study studied the moderating effect that governance form has on the relationship between corporate technological entrepreneurship and firm performance. The result showed that alliance governance form positively moderated the relationship between corporate TE and performance, but mergers and acquisitions (M&A) governance form negatively moderated it in Chinese setting.