Abstract
With the escalation of the strategy of " mass entrepreneurship and innovation", dual innovation has become a new engine of China’ s economic and social development, contributing to the progress and transformation of society. However, the high enthusiasm of entrepreneurship in the society and the low survival rate of new ventures are in stark contrast, mainly due to the uncertain entrepreneurial environment, which makes it difficult for entrepreneurs to make effective entrepreneurial decisions. So, how can entrepreneurs make effective entrepreneurial decisions to break through the resource and opportunity constraints faced by new ventures in an uncertain environment, so as to achieve the survival and growth of new ventures? This is the key question that new ventures need to solve urgently. We are based on the TIMMONS entrepreneurial factor theory and opportunity resource integration theory, polynomial regression and response surface analysis were conducted with data from 282 new ventures to explore the influencing mechanism of the consistency of promotion and prevention effectuation and the entrepreneurial performance of new ventures. The results show that compared with the effectuation consistent of " low promotion - low prevention", the entrepreneurial performance is higher when the effectuation of " high promotion - high prevention " is consistent. Compared with the effectuation inconsistent of " low promotion - high prevention", the entrepreneurial performance was higher in the case of " high promotion - low prevention" effectuation. The higher the consistency of effectuation, the higher the entrepreneurial performance; The integration of entrepreneurial opportunities and resources plays a mediating role between the consistency of effectuation and entrepreneurial performance. Entrepreneurial orientation positively moderates the relationship between entrepreneurial opportunity and resource integration behavior and entrepreneurial performance. High entrepreneurial orientation is more likely to stimulate the promotion effect of entrepreneurial opportunity and resource integration behavior on entrepreneurial performance. The conclusion of this study is of great significance for solving the resource and opportunity dilemma faced by new ventures and improving the success rate of entrepreneurs. This study has three theoretical contributions. Firstly, from the perspective of entrepreneurs' cognition, this paper reveals the reasons for the inconsistent influence of effectuation on entrepreneurial performance in existing studies. According to the four principles of effectuation, two decision - making attitudes of entrepreneurs (" promotion " and" prevention ") are identified, and the influence of their combination configuration on entrepreneurial performance is explored, which promotes a more comprehensive understanding of the structural dimension and influence mechanism of effectuation. Secondly, it expands the application range of the research paradigm of decision logic (consistency of effectuation) - behavior (integration behavior of entrepreneurial opportunities and resources) - performance (entrepreneurial performance) . It makes up for the lack of in - depth, continuous and effective understanding of the mechanism between effectuation and performance due to the existing research only considering opportunity exploitation or resource patchwork. The exploration of the integration behavior of entrepreneurial opportunities and resources can essentially reveal the core elements of the entrepreneurial process and can strengthen the academic community’ s understanding of the origin of entrepreneurship. It not only enriches the research on the factors influencing the entrepreneurial performance of new ventures, but also promotes the research on the mechanism between effectuation and entrepreneurial performance. Finally, it enriches the understanding of the boundary conditions between entrepreneurial opportunity resource integration behavior and entrepreneurial performance. Based on the TIMMONS theory of entrepreneurial factors, this paper introduces strategic orientation as an influencing factor of entrepreneurial performance, and investigates its moderating effect on entrepreneurial opportunity resource integration behavior and entrepreneurial performance, which enriches the theoretical boundary between entrepreneurial opportunity resource integration behavior and entrepreneurial performance, and expands the research on the theory of opportunity resource integration.
| Translated title of the contribution | "Promote" or "prevent"? Consistency of effectuation and entrepreneurial performance of new ventures |
|---|---|
| Original language | Chinese (Traditional) |
| Pages (from-to) | 1695-1704 |
| Number of pages | 10 |
| Journal | Studies in Science of Science |
| Volume | 42 |
| Issue number | 8 |
| Publication status | Published - 15 Aug 2024 |