Research On Entrepreneurial Tie Influencing Enterprise Growth In Technology-based New Venture

Economic development in the New Era of China requires high-quality connotation.Technology-based new ventures have become important supporters for creating new supply and releasing new momentum,which are also important micro-components of high-quality economic development.However,influenced by international environmental factors such as the escalation of international trade disputes and the tightening of global financial environment,and domestic environmental factors such as industrial restructuring and labor redistribution,the environment faced by technological start-ups has become more diverse,heterogeneous and highly uncertain.Technology-based new ventures become more sensitive and intense ever about the resource they are depending and longing for.Acquiring and accumulating necessary resources to promote venture growth have become significant and long-term issues for technological start-ups with high resource dependence and sensitivity.However,extant research pay more attention to the overall characteristics of the network where enterprises are embedded in,or focus on the direct causal chain between external relations and firm growth,thus there lack theoretical annotations on the venture growth incentives regarding the internal micro-structure and characteristics of entrepreneurial tie,which lead to the neglects of the internal key processes and roles in the process of transforming entrepreneurial tie to venture growth.Therefore,based on resource-based theory,theoretical analysis and empirical research on the influence of entrepreneurial tie on venture growth are conducted through utilizing effectuation theory,institutional theory,social network theory,resource dependence theory and resource orchestration theory.Also,methods such as literature research,semi-structured interviews,exploratory multi-case study,factor analysis and regression analysis are utilized or conducted in this study.It could help enriching the contents regarding entrepreneurship and firm growth research;it could also help optimizing the managelent practice to promote venture growth.All in all,the study is of great theoretical value and practical significance to both the academy and practitioners.The main work of this paper is as follows:(l)Entrepreneurial tie are analyzed and constructed in this study.Through literature review and theoretical deduction,the multi-dimensional conceptual model of entrepreneurial tie is identified and formed from the perspectives of tie subject,tie object and tie structure.By conducting field study,semi-structured interviews and content analysis methods,the conceptual model is further explored and revised.Following the rules and procedures of scale development,the conceptual model of entrepreneurial tie with the best fitting effect is determined through factor analysis.The results show that entrepreneurial tie is a second-order six-factor model,which includes six main dimensions:boundary permeability,resource commitment,resource reciprocity,resource diversity,tie scale and tie intensity.(2)Internal process and mechanism of entrepreneurial tie influencing venture growth are explored in this study.The "why,and "how" issues concerning entrepreneurial tie influencing venture growth of technological start-ups are explored by utilizing exploratory multi-case study systematically.The "Entrepreneurial Tie-Venture Growth" path is explained and analyzed constructively through exploratory single case analysis.The resource effect path of"Entrepreneurial Tie---Resource Orchestration---Venture Growth",the capability effect path of "Entrepreneurial Tie---Entrepreneurial capability---Venture Growth" and the dual-effect path interaction relationship in "Resource Orchestration---Entrepreneurial capability" are concluded respectively through exploratory multi-case clustering analysis and SPS modeling.Six research propositions are proposed after literal replication test,theoretical replication test and exclusion of rival analysis.On this basis,a comprehensive analysis model of internal mechanism concerning entrepreneurial tie influencing venture growth from resource-based perspective is proposed,and the key effects and function paths of entrepreneurial tie influencing venture growth are described.Hence the internal process and mechanism regarding entrepreneurial tie influencing venture growth are revealed.(3)Research hypotheses are proposed and tested empirically in this study.Multiple regression analysis is conducted to fulfill large sample empirical test.Taking entrepreneurial tie of technology-based new ventures as breakthrough point,an integrated relationship model concerning entrepreneurial tie,resource orchestration,entrepreneurial capability and venture growth is constructed,with resource orchestration and entrepreneurial capability as dual mediators.The internal process and mechanism of transforming entrepreneurial tie to venture growth is thereby discussed,revealed and clarified.Through the empirical analysis,it can be concluded that there exist differences among the effect paths of entrepreneurial tie dimensions influencing venture growth.To be specific,all dimensions of entrepreneurial tie can draw direct influence on venture growth;through resource orchestration,entrepreneurial tie can affect venture growth indirectly;through entrepreneurial capability,entrepreneurial tie can affect venture growth indirectly;resource orchestration can affect entrepreneurial capability dramatically.