Research On The Mechanism Of Entrepreneurial Learning To New Venture Performance

As new sources in market economy development,new ventures have played an important role in promoting employment,stimulating innovation and increasing market vitality.The State Council has launched a comprehensive initiative to promote mass entrepreneurship and innovation since 2014 so as to stimulate innovative vitality and promote the transformation and upgrading of the national economy.A large number of policy measures in promoting innovation and entrepreneurship have been formulated and promulgated in succession.Due to our country's high-level promotion,policy guidance and active support,an upsurge of investment and entrepreneurship has emerged in China,which has led to an increase in the quality of Chinese entrepreneurial activities.However,the current situation of low productivity,delayed development and volatile performance in our new ventures has seriously threatened the implementing effect and developing goals of our national innovation strategy.There are many deficiencies in new ventures,such as the lack of entrepreneurial competence,the lower level ability of identifying entrepreneurial opportunities,and the great influence of environmental fluctuations,which restricts the growth and development of new ventures.Entrepreneurial learning has been claimed as an important way for new ventures to gain competition advantages,to better identify opportunities and to enhance entrepreneurial abilities,which as a result promotes new venture performance.Driven by the national arrangements,major universities have increased research and practice on entrepreneurial learning.However,consensus has not been reached on how entrepreneurial learning can promote new venture performance effectively at present.The mechanism of entrepreneurial learning to new venture performance and its influencing factors need further research and discussion.So this study is committed to solving the issues of how to increase the success rate of entrepreneurship,how to carry out entrepreneurial education,how entrepreneurial learning acts on new venture performance,how to make up for the deficiencies in the field of entrepreneurship research,how to guide new ventures to get out of entrepreneurship dilemma and reak through the bottleneck of development.This study aims to increase the participation and success rate of entrepreneurship,to deepen the philosophy of entrepreneurship and innovation and to promote the transformation and upgrading of the national economy.Based on the above theories and practical backgrounds,this study intensively analyzes the mechanism of entrepreneurial learning to new venture performance by introducing entrepreneurial competence,entrepreneurial opportunity identification and environmental dynamism as variables.This study chooses new ventures from six major regions of the country as researching targets,puts forward research hypotheses and carries out empirical test by analyzing the concepts,dimensions and measuring methods of independent variables,intermediary variables,moderator variables and dependent variables.Firstly,this study sorts out the theoretical sources,researching foundations,connotations and dimensions of the 5 chosen variables,clarifies the relationship among them and selects appropriate survey scales that both meet our national conditions and the requirements of the study by extensively reviewing of relevant literature.Secondly,this study constructs an integrated model which includes entrepreneurial process theory,resource-based theory,organizational learning theory and entrepreneurial opportunity theory,and thus puts forward 29 research hypotheses.Thirdly,this study carries out in-depth interviews,pre-investigation and large-scale questionnaire survey,tests the data collected and verifies the reliability and validity of sample data.All the hypotheses put forward in this study have been tested.Fourthly,the conclusions,theoretical contributions,practical implications,research limitations and future researching directions of this study are clearly proposed and comprehensively discussed.This study arrives at the following conclusions.Firstly,the positive effect of entrepreneurial learning on new venture performance is significant.Secondly,entrepreneurial competence plays a part of intermediary role between entrepreneurial learning and new venture performance.Entrepreneurial learning and its two dimensions have significant positive effects on entrepreneurial competence in which exploitative learning has greater influence on entrepreneurial competence than exploratory learning does.Entrepreneurial competence and its four dimensions have significant positive effects on new venture performance.Thirdly,entrepreneurial opportunity identification plays a part of intermediary role between entrepreneurial learning and new venture performance.Entrepreneurial learning and its two dimensions have significant positive effects on entrepreneurial opportunity identification.Entrepreneurial opportunity identification and its two dimensions have significant positive effects on new venture performance.Fourthly,the chain mediation between entrepreneurial competence and entrepreneurial opportunity identification has been examined.Entrepreneurial competence and its four dimensions have significant effects on entrepreneurial opportunity identification.Entrepreneurial competence and entrepreneurial opportunity identification play a chain mediating role between entrepreneurial learning and new venture performance.Fifthly,the moderating effect of environmental dynamism has been examined.Environmental dynamism has a significant moderating effect on the relationship between entrepreneurial learning and new venture performance.The moderating mediating effect of environmental dynamism has been examined.Environmental dynamism positively moderates the indirect effect of entrepreneurial learning on new venture performance through entrepreneurial opportunity identification.This study has made certain theoretical contribution and practical enlightenment through the research on the mechanism of entrepreneurial learning to new venture performance.Firstly,it enriches empirical research on entrepreneurial learning by applying quantitative analysis methods.It comprehensively analyzes the influences of different modes of entrepreneurial learning on new venture performance which makes up for the deficiency of the existing research literature and lays a foundation for future research on entrepreneurial learning.Secondly,the study has explored the formation mechanism of new venture performance and expanded the way of achieving it based on entrepreneurial process theory,resource-based theory,organizational learning theory and entrepreneurial opportunity theory.This research route makes up for the deficiencies of insufficient attention on organizational learning perspective in existing research literature,and provides a new perspective for new venture performance research.Thirdly,this study constructs an integrated model of the mechanism of entrepreneurial learning to new ventures performance.It analyzes the internal function mechanism,finds out the influence route and finally opens the "black box" between the two variables.It makes up for the deficiencies in the existing literature and provides new methods and measures for future reference.As for practical enlightenment,firstly,this study proves that promoting new venture performance can boost greater achievements of our mass entrepreneurship and innovation strategy.Secondly,this study explains the differences in performance among new ventures that apply entrepreneurial learning,and provides theoretical basis for new venture performance promotion.Thirdly,by analyzing the influence of environmental dynamism on entrepreneurial learning,this study helps new ventures adapt to the current market environment rapidly,adjust their business strategy and achieve steady development.