Research On The Entrepreneurs' Capacity And Its Impact On The Growth Of Hi-tech SMEs

Small and medium-sized enterprises (SMEs) are an important part of the national economy.They have become the most active groups in China's economic and social development, and especially it has become the consensus of sectors concerned that they are playing a unique role in the all-around implementation of innovation-driven development strategy and constructing an innovative country. As an important part of SMEs, those hi-tech SMEs benefiting from their flexible mechanism of operation and unremitting pursuit of innovation are becoming a key force and important carrier in economic and social development. They are playing a very important role in rapid growth of economy, optimizing industrial structure, and stabilizing social development.Hi-tech SMEs in China, however, are facing such serious problems as high proportion of bankruptcy and failure, which have prevented them from performing their important functions.Nevertheless,some of hi-tech SMEs have achieved rapid growth, even some of which become the best in their own industry. What on earth are the internal reasons leading to the tremendous differences among those hi-tech SMEs? By reviewing the existing literature, it has been found that most of the researchers blamed insufficient capital as the main reasons for the plight of development of hi-tech SMEs. From the life essence of the hi-tech SMEs,the more important and crucial factor is the entrepreneur. In recent years, many scholars have pointed out in their studies that the sustainable growth of SMEs depends to some extent on the personal capacity of the entrepreneur concerned. Especially in the early development stages of SMEs, this feature is more obvious. Therefore, based on the existing research achievements, with the hi-tech SMEs as the research objective, this paper reveals the different characteristics of capacity of entrepreneurs and the basic mechanism of SME growth effect. It has an important function and theoretical value to construct the theoretical system of the growth of the hi-tech SMEs in our country.In the process of the research, this paper, combining empirical and normative analyses as well as quantitative and qualitative analyses,aims to analyze the characteristics of entrepreneurs,the basic mechanism of entrepreneurs' capacity influence on hi-tech SME growth, and explores the empirical evidence which may guide practice, so as to provide facilitating guidance to promote the growth of the hi-tech SMEs. Based on this,the research of this paper mainly includes the following aspects:Firstly, the paper constructs a framework model of the influence of key competence dimensions of entrepreneurial capacity on the growth of hi-tech SMEs. Based on literature review,in-depth theoretical deduction is done respectively. From the theoretical aspect, it analyzes the influence of entrepreneur's capacity on the growth of small and medium-sized enterprise growth,the mediating effect of entrepreneur's capacity on the entrepreneur's characteristics and the enterprise growth, and the adjusting effect of entrepreneurial orientation to hi-tech SME entrepreneur's capacity and enterprise growth. Based on theoretical analysis, the paper proposes the theoretical research assumptions, and constructs the conceptual model.Secondly, this paper makes empirical research design on the relationship between hi-tech SME entrepreneurial capability and enterprise growth. With regard to the empirical research method, the paper firstly makes operation treatment of the variables, which mainly involves the hi-tech SME entrepreneur's capacity, entrepreneurial orientation, and enterprise growth. On this basis, questionnaires are designed and reliability is discussed according to expert's advice in order to ensure the questionnaire's validity. As for the data collection, to ensure the representativeness of samples, large sample studies are carried out with the help of the university alumni associations.Explanations of the analytical methods in the process of the empirical research are added at the end of the research.Thirdly, the paper makes empirical analysis of hi-tech SME entrepreneur's capacity and enterprise growth. Based on the illustrated theoretical analysis and research assumptions, this research tests the reliability and validity of hi-tech SME entrepreneur's capacity by using factor analysis, reliability analysis and validity analysis. On this basis, further correlation analysis is carried out to check the variables, including entrepreneurial capacity, enterprise growth, and to test the existence of severe multiple collinear problems. Finally, this research tests the mediation effect by using structural equation model, tests the adjusting effect by using multiple regression model,empirically tests the proposed theoretical assumptions, and analyzes and discusses the statistical analysis results. Consequently, experimental evidence is provided to the study of inner mechanism of hi-tech SME entrepreneur's influence on enterprise growth.Fourthly, main implications for management of the research are discussed. On the basis of illustrated theoretical analysis and empirical tests, this research systematically summarized the main research conclusions and important points. On this basis, combined with the development reality of Chinese hi-tech SMEs, this paper puts forward countermeasures and suggestions of promoting those enterprises' growth in China from the aspects of environment condition,mechanism construction and so on.Based on the research content and research results, this paper has three major innovation points:First, it constructs the theoretical analysis framework of the "hi-tech SME entrepreneurial orientation-entrepreneur's capacity-enterprise growth". This paper put forward the new framework to analyze the influence of the entrepreneur's capacity on the enterprise growth, which is also the main logic line of this research. The crucial element of the hi-tech SME growth is entrepreneur,and the main point is whether those entrepreneurs have the required capacity to match the demands of different stages of enterprise growth. Besides, the various resources gained by entrepreneur's abilities may become the major driving force of the hi-tech SME, which serves as an important foundation of the sound development of the hi-tech SMEs.Second, it reveals the entrepreneur ability of binding factors and entrepreneurs' capacity effect of the hi-tech SME. According to the research of human capital theory, entrepreneur ability is mainly affected by related factors of themselves. So this paper reveals the basic function mechanism that how the different characteristics of the entrepreneur's capacity influence the growth of the small and medium sized enterprises. On this basis,it puts forward the composite measurement index of SME growth, and examines the different entrepreneurial capabilities on SME growth contribution, thus forming the analysis model of studying science and technology-based enterprise growth from the angle of entrepreneurs' capacity.Third, it defines key dimensions of hi-tech SME entrepreneur's capacity and explores the mediating function of entrepreneurial orientation. It endeavors to construct an evaluation system of hi-tech SME entrepreneur's capacity by incorporating such six dimensions as abilities of hunting opportunity, political relationship, commercial relationship, learning, innovation and risk control. Through such variables of entrepreneur's capacity,the paper attempts to expose the differences of SME development concerning entrepreneurs and in turn explores the pattern of sustainable growth of hi-tech SME, consequently analyzing the inherent interaction mechanism of entrepreneur's capacity to enterprise growth. Meanwhile, it studies the mediating role of entrepreneurial orientation in the relationship of hi-tech SMEs and enterprise growth through analyzing such three dimensions as initiative,innovation,and risk tendency.