Abstract: This paper examined the mediating effect of business model innovation and the moderating role of environment on the link between opportunity recognition and firm performance. Results showed that opportunity recognition was positively linked to firm performance, and business model innovation mediated this relationship. Furthermore, environmental munificence and demand uncertainty weakened the impact of opportunity recognition on business model innovation, but competitive intensity strengthened this impact.

Key words: opportunity , business model innovation , environmental munificence , demand uncertainty , competitive intensity

摘要： 机会识别是创业研究的一个核心话题，然而我们对创业机会的绩效转化机制还缺乏认识。基于交易成本理论和资源依赖理论，通过引入商业模式创新这一概念，本文探讨了在动态变化的环境中企业将创业机会转化为绩效的机制与路径。实证研究发现，创业机会识别能够显著改善企业绩效。本文还分析了商业模式创新中介机会识别对企业绩效的影响，需求不确定与环境包容性削弱机会识别对商业模式创新的影响，竞争强度加强机会识别对商业模式创新的影响。商业模式创新的引入为企业将创业机会转化为绩效提供了现实操作路径，基于交易成本和资源依赖理论的对比分析较好地解释了创业机会与商业模式创新之间的关联，从而为商业模式理论发展做出了贡献。

关键词: 机会 , 商业模式创新 , 环境包容性 , 需求不确定 , 竞争强度