This article analyses the contingent factors which influence the relationship between entrepreneurial passion and venture profit. While research on entrepreneurial passion is burgeoning, studies that analyse contingent factors and boundary conditions surrounding entrepreneurial passion theory are sparse. Moreover, we know very little about how the influence of entrepreneurial passion on venture outcomes might vary in emerging markets, typically characterised by higher levels of bureaucratic involvement and institutional deficiencies. We extend entrepreneurial passion theory by testing a contingent model that evaluates the influence of political connections and environmental dynamism on the relationship between entrepreneurial passion and venture profit. More specifically, we examine the role of passion on venture profit and the moderating impact of political connections and perceived environmental dynamism. Using time-lagged data from 231 small businesses in Ghana, we find that political connections amplify the potency of passion as a driver of venture profit. In addition, we find that this interaction is conditioned by environmental dynamism; specifically, the moderating effect of political connections on the relationship between entrepreneurial passion and venture profit is stronger when dynamism is high. Our fine-grained analysis increases the conceptual scope and generalisability of entrepreneurial passion to non-Western contexts.

本文分析了影响创业热情与创业利润关系的或有因素。虽然对创业激情的研究正在蓬勃发展，但分析围绕创业激情理论的偶然因素和边界条件的研究却很少。此外，我们对创业热情对风险投资结果的影响在新兴市场可能有何不同知之甚少，这些新兴市场的典型特征是官僚参与程度较高和制度缺陷。我们通过测试一个评估政治联系和环境活力对创业热情和风险利润之间关系的影响的或有模型来扩展创业热情理论。进一步来说，我们研究了激情对风险利润的作用以及政治关系和感知环境活力的调节影响。使用来自加纳 231 家小企业的时滞数据，我们发现政治关系放大了激情作为风险利润驱动力的效力。此外，我们发现这种相互作用受环境活力的制约；具体而言，当活力高时，政治关系对创业热情与风险利润之间关系的调节作用更强。我们的细粒度分析将创业热情的概念范围和普遍性扩大到非西方环境。我们发现，政治关系放大了激情作为风险利润驱动力的效力。此外，我们发现这种相互作用受环境活力的制约；具体而言，当活力高时，政治关系对创业热情与风险利润之间关系的调节作用更强。我们的细粒度分析将创业热情的概念范围和普遍性扩大到非西方环境。我们发现，政治关系放大了激情作为风险利润驱动力的效力。此外，我们发现这种相互作用受环境活力的制约；具体而言，当活力高时，政治关系对创业热情与风险利润之间关系的调节作用更强。我们的细粒度分析将创业热情的概念范围和普遍性扩大到非西方环境。