Too small to do it all? A meta-analysis on the relative relationships of exploration, exploitation, and ambidexterity with SME performance

• Meta-analysis of 34 studies including 5,488 SME observations. Exploration, exploitation, and ambidexterity all increase SMEs’ performance. SMEs benefit more from exploration or exploitation than ambidexterity. Property rights protection prevents knowledge spillovers imitation. reduces benefits in SMEs. We tailor theory on the relative performance implications exploration, to unique characteristics small medium-sized enterprises (SMEs). First, as limited resources make it unclear whether is superior SMEs, we investigate their effects Second, resource particularly constraints property (PRP) pertinent these firms, examine PRP a moderator. Consistent with our hypotheses, meta-analytical evidence across suggests that: (1) has less positive relationship both (2) decreases between Unexpectedly, Building findings, develop roadmap for SME-specific research, focusing sequential switching contingency factors direct relationships.