Abstract: Most studies have found the positive effects of knowledge search on product innovation performance(PIP), but few explored the relationship between rivals searching time choice and PIP. Tests using data on 215 new ventures in clusters explore the effects of leading search and following search on PIP as well as the moderating effects of managerial ties. Results indicate that (1) both leading search and following search have curvilinear (inverted U-shaped) effects on PIP ; (2) the curvilinear link between leading search and PIP is positively moderated by extra-cluster managerial ties; (3) in contrast, intra-cluster managerial ties weaken the curvilinear effect of leading search on PIP, but strengthen the curvilinear effect of following search on PIP. This paper enriches the studies that focus on the parallel search - PIP linkage. Hopefully, the findings provide guidance for new ventures to conduct innovation search and improve PIP.

Key words:  new ventures, parallel search, product innovation performance, managerial ties