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Extant research has shown that entrepreneurial orientation (EO) is positively associated with firm performance, but several contingencies affect the strength of this relationship. This article uses insights from the resource-based view and upper echelons perspective to introduce top management’s transformational leadership behaviors as moderators in the EO–performance relationship. The theoretically derived model is tested using survey data obtained from 790 small-and medium-sized firms in six countries. Findings indicate that, regardless of national setting, four transformational behaviors—articulating a vision, providing an appropriate model, having high performance expectations, and showing supportive leader behavior—positively affect the relationship between EO and firm performance. Further, the performance consequences of EO are greater when top management adheres to a configuration characterized by the highest possible levels of transformational behaviors. Implications and directions for future research are discussed.

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Absorptive capacity (ACAP) is a firm's ability to innovate by identifying, assimilating, and exploiting knowledge available in its environment. ACAP has been widely researched, but this research has not sufficiently analyzed the influence of ACAP on an interfirm level, especially regarding the multidimensional character of this construct. The present study intends to reveal whether the relationship between ACAP and firm performance in small and mediun sized enterprises (SMEs) is mediated by strategic alliances. Furthermore, different moderating characteristics such as age and size of the companies are taken into consideration. The findings indicate that strategic alliances of SMEs mediate both the relationship between ACAP and firm performance and the relationship between each dimension of ACAP and firm performance. However, these results might not be valid under certain circumstances since strategic alliances have no mediating influence when it comes to young SMEs, for example.