How does entrepreneurial culture influence entrepreneurial financial performance through organizational learning, creativity, and competitive advantage?

This research aims to investigate the influences of entrepreneurial culture on entrepreneurial financial performance via the mediating functions of organizational learning, creativity, and competitive advantage. The authors performed a questionnaire survey to obtain data from 315 entrepreneurs of new ventures in Ho Chi Minh City region, Vietnam in the period from November 2021 to June 2023. The partial least squares structural equation modeling (PLS-SEM) was applied to test the associations between variables in the research framework. Organizational learning, organizational creativity, firm competitive advantage, and entrepreneurial financial performance were all shown to increase in direct correlation with the sharing of positive success stories and social norms. The results also demonstrated the partial mediating roles of organizational learning, organizational innovation, and firm competitive advantage in shaping the connections between entrepreneurial culture dimensions (social norms and success stories) and entrepreneurial financial performance. Thus, this study mitigated ongoing debates in the literature, while strengthening the resource-based view theory in the entrepreneurship context. However, this study showed that there is no direct effect of entrepreneurial culture dimensions on entrepreneurial financial performance. The findings provide recommendations for new ventures to better understand and appreciate the cultural factors that are necessary to expand their knowledge and skillset, spark new ideas, and gain a competitive edge, ultimately leading to their sustainable financial success.