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| Research on the Influence Mechanism of Initial Strategic Orientation on Survival Rate of New Ventures |
| Zhang Haili,Zhang Xiaotang,Michael Song |
| (School of Economics and Management，Xi'an Technological University，Xi'an 710021，China) |
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Abstract This article investigates the differentiated mechanisms and effects of initial strategic orientations on the survival rate of new ventures. Empirical results from 523 new ventures in the U.S. indicate that，the aggressiveness strategy consumes organization's resources and increases the hazard rate of failure; the analytical strategy improves the quality of organizational decision-making, ensures the realization of organizational goals, and thereby significantly reduces the risk of failure; the defensiveness strategy encourages applications of technical tools and thereby significantly increases the survival rates; the futurity strategy does not have any significant effects on the survival rate of new ventures; the proactiveness strategy promotes organizational innovations that increases survival rate of new ventures; and the riskiness strategy does not increase the survival rate of new ventures.
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Received: 20 March 2019
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