Abstract: In previous studies, the relationship between entrepreneurial orientation, ethical orientation and firm performance emphasized the regulatory role of legitimacy. However, the boundary conditions and mechanism of these models are still not fully discussed, and the intermediary factors have not been proved yet. Based on the New Institutionalism theory and the strategy-oriented allocation perspective, this paper analyzes the legitimacy path between interaction and performance of entrepreneurial orientation and ethical orientation, and firm perfomance by establishing a regression model and testing the hypothesis. Empirical results show that entrepreneurial orientation and ethical orientation can positively affect firm performance through legitimacy, but the interaction between them have no a significant positive effect on firm performance.

Key words: entrepreneurial orientation, ethical orientation, legitimacy, firm performance