This study examines the relationship between CEO entrepreneurial orientation and the magnitude of strategic change initiated by the firm. Based on the upper echelons perspective and the attention-based view, this study proposes that CEO entrepreneurial orientation affects a firm’s overall magnitude of strategic change. In addition, the relationship between CEO entrepreneurial orientation and strategic change is strengthened when the environmental discretion or the firm’s financial slack is relatively high, as well as when the CEO is the chair of the board. The results on analyzing 1452 observations from S&P 500 firms collected for an 18-year period support our hypotheses.

这项研究考察了CEO创业取向与公司发起的战略变革幅度之间的关系。基于高层观点和基于关注点的观点，本研究建议CEO的创业方向会影响公司战略变革的整体规模。此外，当环境自由裁量权或公司的财务赤字相对较高时，以及在首席执行官担任董事会主席时，CEO创业导向与战略变革之间的关系也会增强。分析来自标普500指数公司18年的1452项观察结果的结果支持了我们的假设。