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The analysis of the relation between entrepreneurial orientation, market orientation and business perfor- mance has become a focus of interest for researchers over the last decade. The relations between entrepreneurial orientation and business performance, and between market orientation and business performance are well docu- mented in the two bodies of specialized literature. However, despite the fact that the literature appears to indicate that both business orientations are not exclusive but actually complementary, very few studies have examined the joint effect of both orientations on business performance. The aim of this paper is to analyze the relation between both orientations in such a way as to draw conclusions that will contribute to clarifying the order of dependence bet- ween them. The results of our study enable us to throw some light on the relation between both business orienta- tions. The comparison of models that consider each orientation as an antecedent alternately allows us to state that entrepreneurial orientation can be considered as an antecedent of market orientation.
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