Buddhist entrepreneurs and new venture performance: the mediating role of entrepreneurial risk-taking

This study examines how Buddhism as an Eastern religion influences new venture performance. We propose that Buddhist values and associations can bring unique benefits to new ventures founded by Buddhist entrepreneurs and help improve new venture performance. We further advance that at least part of these religious benefits will be realized through an entrepreneurial risk-taking strategy, as reflected in research and development investment and debt financing. Analysis of a sample of 1032 entrepreneurs in China provides supportive evidence for our arguments. The study has implications for research on the relationships among religion, risk-taking, and performance, and on the differences between Eastern and Western religions.