This study investigates the influence of perceived environmental uncertainty by the manager and the performance measurement through financial and non-financial indicators on startups’ performance. Our study was carried out through a survey sent to startups registered in the Brazilian Startup Association (ABStartups), and the sample used in the data analysis is composed of 103 startups. Our results indicate that financial indicators assist managers in the assessment of startups’ reality and contribute to their perceived performance. On the other hand, non-financial indicators and perceived environmental uncertainty did not have influence. Moderating effects of perceived environmental uncertainty in the relationship between performance measurement and performance were also investigated. In this case, we observed that the perceived environmental uncertainty by entrepreneurs did not influence on startups’ performance and significant use of financial indicators to improve decision making. However, the relationship between non-financial indicators and performance, moderated by environmental uncertainty, became more reliable for the decision-making process of strategies adopted by startups.

本研究调查了经理感知环境不确定性的影响，以及通过财务和非财务指标对初创企业绩效的绩效衡量。我们的研究是通过对在巴西创业协会 (ABStartups) 注册的创业公司进行的一项调查进行的，数据分析中使用的样本由 103 家创业公司组成。我们的结果表明，财务指标有助于管理者评估初创公司的现实，并有助于他们感知到的绩效。另一方面，非财务指标和感知的环境不确定性没有影响。还研究了感知环境不确定性在绩效测量和绩效之间的关系中的调节作用。在这种情况下，我们观察到，企业家感知到的环境不确定性并没有影响初创公司的业绩和财务指标的大量使用以改善决策。然而，在环境不确定性的影响下，非财务指标与绩效之间的关系对于初创企业所采用的战略决策过程变得更加可靠。