Entrepreneurial Ecosystem and Organisational Performance: The Moderating Role of Government Regulations
Keywords:
Competitive advantage; Institutional supports; Market share; Innovation capabilitiesAbstract
The study analysed insurance business responses to entrepreneurial ecosystems operating in Lagos State, Nigeria, by using government regulations as a moderator. Extant research has examined the impact of entrepreneurial ecosystems on organisational performance using the Network Theory and Systems Theory, which provide a comprehensive perspective on the structure and dynamics of entrepreneurial ecosystems. In terms of approach, the survey gathered complete participants’ responses from 261 top managers at 42 insurance firms employing both quantitative methods and the positivist approach to produce data. The applied validity tests yielded positive results because Average Variance Extracted (AVE) values exceeded 0.5 while the reliability assessments indicated that Cronbach’s alpha outputs remained between 0.70-0.91. Government regulations were not related to the relationship between entrepreneurial ecosystems and organisational performance according to multiple and hierarchical regression analyses at p < 0.05 level (ΔR² = 0.001, ΔF = 0.345, p > 0.05). Ultimately, the study reveals that there are additional factors that influence insurance company operations in Nigeria more than regulatory measures do. Thus, the study encourages leading policymakers and business leaders to focus on innovation capabilities with access to finance and market conditions to enhance performance levels.
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