A Study On The Influence Mechanism Of Founder's Effectuation And Entrepreneurial Passion On Technology Commercialization Performance Of High-tech Start-ups

The Chinese economy is currently in a period of stalling between new and old kinetic energy.Promoting the growth of new kinetic energy is imminent.Promoting the commercialization of high-tech is the key to solve the current problem.High-tech start-ups at the cutting edge of technology are the most active players in promoting technology commercialization.The survival and development process of high-tech start-ups is the process of realizing technology commercialization.However,the high failure rate of high-tech commercialization is known as the "Valley of Death".The high uncertainty of Chinese emerging economy has exacerbated the challenges of high-tech start-ups in the process of technology commercialization.Therefore,how to improve the technology commercialization success rate of high-tech start-ups in a highly uncertain environment has become an important practical issue that needs to be urgently solved.The founder,as the founder and core task of high-tech start-ups,is considered an important determinant of improving technology commercialization performance.From the perspective of the founder,this research is based on the context of Chinese emerging economy,and takes high-tech start-ups as the research object.The rational cognitive factors of the founder under the uncertainty context are selected—effectuation and representative The founder's irrational emotional factor—entrepreneurial passion,studies its impact on the technological commercialization performance of high-tech start-ups and its mechanism.Further,this study explores the impact of the interaction between founder's effectuation and entrepreneurial passion on the technological commercialization performance of high-tech start-ups based on cognitive and emotional interaction perspectives.This research mainly includes three sub-researches:(1)The effect mechanism of founder's effectuation on technology commercialization performance of high-tech start-ups.(2)Research on the influence mechanism of founder's entrepreneurial passion on the technological commercialization performance of high-tech startups.(3)Research on the effect mechanism of founder's effectuation and entrepreneurial passion on the technological commercialization performance of high-tech start-ups.First,the research reviewed the important concepts in the literature,and then showed research design and data collection specifically.By using statistical regression software such as SPSS,the data was collated and analyzed,and a series of hypotheses proposed in this research were tested.Finally,the results were discussed in depth,and the theoretical and practical significance of the research conclusions were explained.The conclusions of this study include:In the context of Chinese emerging economy,the effects of founder's effectuation on the technological commercialization performance of high-tech start-ups were explored,and the mediating role of organizational exploratory learning and the moderating role of environmental uncertainty were also studied.The study found that founder's effectuation has a positive impact on technology commercialization performance of high-tech start-ups,and has a positive impact on organizational exploratory learning.Organizational exploratory learning plays an mediating effect between founder's effectuation and the technological commercialization performance of high-tech start-ups.The relationship between founder's effectuation and organizational exploratory learning is regulated by environmental uncertainty.The higher the market uncertainty,the stronger the promoting effects of founder's effectuation on organizational exploratory learning.However,the uncertainty of technology does not moderates the relationship between founder's effectuation and organizational exploratory learning.In the high uncertain environment of Chinese emerging economy,the influence of founder's entrepreneurial passion on the technological commercialization performance of high-tech start-ups was investigated.And the mediating role of organizational relationship networks establishment and the regulating role of entrepreneurial orientation were also studied.The research found that the founder's entrepreneurial passion has a positive impact on the technology commercialization performance of high-tech start-ups,and has a positive impact on organizational relationship networks construction.Namely organizational relationship networks construction plays an mediating effect between founder's entrepreneurial passion and the technological commercialization performance of high-tech start-ups.The relationship between organizational relationship networks establishment and technological commercialization performance of high-tech start-ups is regulated by entrepreneurial orientation.The higher the entrepreneurial orientation,the stronger the relationship between organizational relationship networks establishment and the technological commercialization performance of high-tech start-ups;the stronger the founder's entrepreneurial passion and the technological commercialization performance of high-tech start-ups.In the high uncertain Chinese emerging economy,the effects of the interaction between founder's effectuation and entrepreneurial passion on the commercialization performance of high-tech start-ups and the mediating role of organizational entrepreneurial capability were studied.The study found that founder's effectuation has a positive impact on organizational entrepreneurial capability and the technological commercialization performance of high-tech start-ups.Organizational entrepreneurial capability plays an mediating role in the relationship between founder's effectuation and technology commercialization performance of high-tech start-ups.And the higher the founder's entrepreneurial passion,the stronger the relationship between founder's effectuation and organizational entrepreneurial capability;the stronger the relationship between founder's effectuation and technology commercialization performance of high-tech start-ups.This study enriches the research on influencing factors of technology commercialization,applies the effectuation theory to the field of technology commercialization,and enriches the application scenarios of effectuation;expands the research on the influence of founders on organizational behavior and performance in the field of organizational strategy research.At the same time,it has enriched the research on the influence mechanism of founder's cognition and emotion on organizational decision-making,strategies and behaviors in the context of Chinese emerging economy,and expanded the influence of founders on the commercialization of high-tech start-ups from the perspective of cognition and emotion.The conclusions of this study provide guidances for entrepreneurs on how to increase the success rate of technology commercialization by cultivating effectuation and entrepreneurial passion,and provide effective guidances for the government to promote technology commercialization performance of high-tech start-ups.