Research In Entrepreneurial Characteristics And Growth Of Small And Medium-Sized Listed Companies

Since the reform and opening up, small and medium-sized enterprises (SMEs) have become an important part of our national economy after thirty years of vigorous development, playing an irreplaceable role in China’s socio-economic take-off and making great contributions to absorbing the population employment, promoting economic development, optimizing the economic structure, promoting technological progress, and encouraging fair competition. Joseph A. Schumpeter, American economist once said:entrepreneurs are the engine of economic development as well as a source of economic development. It is ever-changing products created by outstanding entrepreneurs that constitute a material carrier for the whole development of human society, and the conduct codes and philosophy for companies formed under the guidance and norms of outstanding entrepreneurs have extended to the spiritual driving force of social progress. When facing different options of strategic tactics, risk control and information use, different personality traits will make entrepreneurs make different choices, thus showing very different enterprise efficiency and generating a major impact on the sustainable development of enterprises.Thus it can be seen that as a very important strategic resource for the enterprise, entrepreneurial personality characteristics determines the growth of SMEs to a certain extent, and holds the key to prosperity and development. Therefore, to study the relationship between them is a far-reaching topic with high theoretical and practical significance. Currently, there are some defects on the subject at home and abroad, for example, there are many researches in the characteristics of entrepreneurs from a more qualitative point of view, while relatively few quantitative empirical analysis of entrepreneurial traits; there are many researches in the current situation and problems of entrepreneurs from a macro view, while there are less specifically system analyses of the entrepreneurs of small and medium-sized listed companies. Considering this as a starting point, the author has analyzed the correlation between characteristics of entrepreneurs of small and medium-sized listed companies and business growth through empirical study based on information and data from679small and medium-sized listed companies to explore which characteristics that entrepreneurs possess will contribute to high growth of enterprises.The author has adopted the method of combining normative and empirical research. First, the study reviewed entrepreneurs and entrepreneurial characteristics, corporate growth, characteristics of entrepreneurs and SME growth theory, which has laid theoretical basis for the text, and then it analyzed the constitutive elements of entrepreneurial characteristics, and further explored the influence mechanism of entrepreneurial characteristics on business growth. It put forward hypotheses on this basis to construct the correlation models; then it used SPSS18and other software tools to make an empirical research in the correlation between entrepreneurial characteristics of listed companies and growth data of growth, tested hypotheses and analyzed the results. From the regression results, it can be seen that the business growth, strategic planning capacity, risk awareness, social capital, and management effectiveness of entrepreneurs have a high correlation. Therefore, this study suggests to promote entrepreneurial characteristics from four aspects to contribute to the growth of small and medium listed companies:"to indicate a great trend from a small sign and to act with extreme caution" and "to take precautions before it is too late and to wait for an opportunity to act" on maintaining risk awareness;"to be practical and realistic, and to respect the law" and "to make the best use of everything and complement each other’s advantages" on enhancing strategic planning capacity; to "be goal-oriented and let the regulations to be foremost" and "whole process management and let all things serve their proper purpose" on improving management effectiveness;"to be correctitude and conform to the national culture" and "to mate one’s words to his deeds and achieve a win-win situation" on accumulating social capital. The above-mentioned statements have pointed out the direction to promote the growth of small and medium-sized listed companies through enhancing the entrepreneurial characteristics.