Abstract: Based on the resource-based theory and the strategic fit theory, taking exploration innovation and exploitation innovation as mediators and strategic flexibility as the moderator, a theoretical model of the relationship between entrepreneurial orientation, network orientation, and new venture growth was built in the digital world. An empirical study of 403 new ventures show that entrepreneurial orientation has a greater impact on new venture growth during the start-up and growth stages than network orientation. Exploration innovation mediates the relationship between network orientation and new venture growth. Exploitation innovation is the mediator between entrepreneurial orientation, network orientation, and new venture growth. Strategic flexibility moderates the relationship between entrepreneurial orientation, exploration innovation, exploitation innovation, and new venture growth. In the start-up period, exploitation innovation has a greater impact on new venture growth. However, in the growth period, exploration innovation has a greater impact on new venture growth.

Key words: entrepreneurial orientation, network orientation, exploration innovation, exploitation innovation, new venture growth

摘要： 基于资源基础理论和战略匹配理论，以探索式创新和利用式创新为中介变量，战略柔性为调节变量，构建了数字化情境下，创业导向和网络导向对新创企业成长的影响的理论模型。通过对403家新创企业展开实证研究，结果表明：在初创期和成长期，创业导向对新创企业成长的影响大于网络导向，探索式创新在网络导向与新创企业成长间起中介作用，利用式创新在创业导向和网络导向与新创企业成长间起中介作用，战略柔性正向调节创业导向、探索式创新和利用式创新与新创企业成长间的关系；初创期，利用式创新对新创企业成长的影响更大，而成长期探索式创新对新创企业成长的影响更大。

关键词: 创业导向, 网络导向, 探索式创新, 利用式创新, 新创企业成长