Study On The Relationship Among Corporate Entrepreneurship, Knowledge Capital And Entrepreneurial Performance

The theory of enterprise lifecycle states that the business is a living organism,experiencing the birth, growth, maturity and the recession until death journey throughlife. Growth and development is the eternal theme of enterprises pursuit. Enterpriseswill go through certain stages of development with different characteristics and crisisin the growth process. They must adjust their development strategies in time andreform continuously with adaptation to survive. The biggest problem encountered bymany companies in the growth and development is the corporate entrepreneurship;especially the small and medium-sized enterprises, or the SMEs, because of theirsmall size generally, still non-standard management, poor anti-risk ability and growthuncertainty. Even those who have successfully crossed the start-up period areprobably influenced by the market, capital, organizational structure and many otherfactors. In the highly competitive environment,the SMEs to achieve greater success,to adapt to the changing environment, we should pay more attention to corporateentrepreneurship.Different from the general sense of entrepreneurship, corporate entrepreneurshipis the second entrepreneurial activity within the company with certain profitability,including innovation, venture capital and strategic reconstruction. Corporateentrepreneurship does not require that all things change, but on the basis of theexisting organizational resources together. Through local change to a higher level andstrengthening the company’s core competencies, realize their entrepreneurialperformance while improving business performance. Corporate entrepreneurship isthe integration of resources ability in the case of not breaking the original pattern.Therefore, this integration will inevitably involve knowledge capital. In the context ofthe knowledge-based economy, knowledge capital is an indispensable resource for enterprises to bring more performance and increase their competitive advantage.With further academic entrepreneurship,gradually discovered thatentrepreneurial activity has an important role in the development process. In the1990of the20th century, scholars began to research on corporate activities abroad. Moststudies suggest that corporate entrepreneurship is an important factor influencingentrepreneurial performance, knowledge capital in the company plays an importantrole in the entrepreneurial process, study on the relationship between corporateentrepreneurship and entrepreneurial performance conclusions differ, nor onknowledge capital in the company studied the relationship between corporateentrepreneurship and entrepreneurial performance in the role. Entrepreneurship in alate start in China, most for entrepreneurship research focuses on new ventureentrepreneurship activities, In terms of corporate entrepreneurship research, only afew scholars of China research on entrepreneurial activities have just started to try,generally agreed that corporate entrepreneurship and knowledge capital has a positiveimpact on entrepreneurial performance, to promote knowledge accumulation andutilization. But there is no relationship between corporate entrepreneurship andentrepreneurial performance in more dimensions divided on the basis of an in-depthstudy, nor on knowledge capital in the company to study relationship betweencorporate entrepreneurship and entrepreneurial performance in the role.On the basis of theoretical research analysis of the relationships among corporateentrepreneurship, knowledge capital and entrepreneurial performance on the SMEs inNortheast China as research samples is carried out; these three variables model isbuilt and34hypotheses are put forward on the basis of the model. The datum whichused in this article are collected by questionnaire. On the base of analysis ofreliability and validity about measurement scale, through the datum collected usingfactor analysis, correlation analysis, regression analysis on corporate entrepreneurship,knowledge capital and business performance relationship assumes, an empirical testanalysis is carried out,32hypotheses are proved and two hypotheses are not verified.The conclusions of the study are as follows:First, corporate entrepreneurship has a positive influence on the knowledgecapital. It is shown that degree of innovation, venture capital and strategic reconstruction, the three dimensions of corporate entrepreneurship produce a positiveaffection on human capital, organizational capital and social capital, the threedimensions of knowledge capital. Second, corporate entrepreneurship has a positiveinfluence on entrepreneurial performance. It is shown that degree of innovation,venture capital and strategic reconstruction, the three dimensions of corporateentrepreneurship produce a positive affection on the growth performance, innovationperformance, the two dimensions of entrepreneurial performance. Innovation degreeof corporate entrepreneurship has a positive impact on the financial performance ofthe entrepreneurial performance, but the venture capital and strategic reconstructionof entrepreneurial have no significant effect on them. Again, knowledge capital has apositive influence on entrepreneurial performance. It is shown that human capital,organizational capital and social capital, the three dimensions of knowledge capitalhave a positive impact on financial performance, growth performance and innovationperformance, the three dimensions of entrepreneurial performance. Finally,knowledge capital plays an intermediary role between corporate entrepreneurship andentrepreneurial performance. Human capital, organizational capital and social capital,the three dimensions of knowledge capital play an intermediary role betweenentrepreneurship and entrepreneurial performance.The study found that corporate entrepreneurial behavior impact knowledgecapital accumulation and entrepreneurial performance of the SMEs in NortheastChina significantly, but financial performance only is impacted by degree ofcorporate entrepreneurship innovation significantly, not by risk investment andstrategic reconstruction of corporate entrepreneurial significantly. When venturecapital and strategic reconstruction are carrying out in corporate it’s paid moreattention to the long-term development of enterprises, not the short-term financialperformance of the enterprises. Knowledge capital has a significant and positiveeffect on entrepreneurial performance, and it plays an important intermediary rolebetween corporate entrepreneurship and entrepreneurial performance. It’s furtherillustrated that knowledge capital plays an importance role in the process of enterprisedevelopment.Based on the study of the relationships among corporate entrepreneurship, knowledge capital and entrepreneurial performance of the SMEs in Northeast China,the theory of entrepreneurship research is further enriched at the present stage, andthe theoretical model of entrepreneurship, knowledge capital and entrepreneurialperformance is built. Put corporate entrepreneurship, knowledge capital andentrepreneurial performance into a unified analytical framework, it’s made up for thelack of research on the relationships between them. And it’s explained with theknowledge capital as a mediating variable whether the knowledge capital plays amediating role between entrepreneurship and entrepreneurial performance. Promotingthe study on knowledge capital within the corporate entrepreneurship, the knowledgecapital of enterprises is improved through entrepreneurial. It’s provided a theoreticalexplanation by improving entrepreneurial performance with knowledge capital.Regarding the SMEs in Northeast China as samples, using a combination ofqualitative and quantitative analysis, carrying out the empirical tests analysis, it’scontributed to the research of the different regions of the comprehensive comparativeanalysis and further to reveal the connotation essence of entrepreneurial process. Atthe same time, the innovation performance as the entrepreneurial performance of adimension, together with the financial performance, growth performance measureentrepreneurial performance. It further enriched the connotation of entrepreneurialperformance. It can provide realistic guidance for the SMEs development inNortheast China on the two aspects of corporate entrepreneurship and knowledgeaccumulation.