The Impact Of Institutional Environment On New Venture’s Innovation Performance Mediated Through The Innovation For Opportunity

Scott proposed three elements of dynamic matching model which is called regulationdimension, specification dimension and cognitive dimension, is the classical institutiontheory model. At the same time, the theory of entrepreneurial opportunity that includeopportunity perception, opportunity identification, opportunity discovery and opportunitycreation have been the attention to the scholars who study the perspective of differententrepreneurial mechanism. But for entrepreneurs, there is impossible for them to achievethe purposes that only own the opportunity. Institutional environment guarantee thepossible of business, and innovation property of opportunity ensure the growth ofenterprise, innovation performance guarantee the sustainable development of enterprises.Therefore, this research combines institutional environment, opportunities for innovation,and innovation performance, hoped to break through but investigate only the one-sidednessof single factors. By reviewing of the literature research, which includes the theory ofinstitution and the theory of opportunity, the study will define institutional environment,opportunities for innovation and innovation performance, explore the relationship betweenthe three, and through the empirical analysis to reveal the mechanism of institutionalenvironment and innovation performance. The study mainly discusses the followingcontents:1.The paper will review related theories and literatures, and put forward researchideas. The theory of institutional and entrepreneurial opportunities that studies theinstitutional environment and entrepreneurial opportunities. Based on these theories, thestudy defines the connotation and generalizes the influence factors of the institutionalenvironment, opportunities for innovation and the innovation performance, Then putsforward the research ideas of this paper.2.This paper builds up a theoretical model of the relationship among institutionalenvironment, opportunities for innovation, and innovation performance. Combing therelationship between institutional environment, opportunities for innovation, andinnovation performance, and put forward the model which is the mediation model of theopportunities for innovation between institutional environment and innovationperformance.3.On the basis of theoretical framework, the paper detailed the correlativity amongthese research variable and proposed10hypothesizes, including3hypothesizes of therelations between institutional environment and innovation performance;4hypothesizes ofthe relations between opportunities for innovation and innovation performance;3hypothesizes of mediation effect of opportunities for innovation on institutionalenvironment and innovation performance.4.Empirical research. To measure the research variable, design questionnaires and testhypothesizes by using multi-variable regression model and SPSS17.0statistics software.This paper received109effective copies of questionnaires. Test revealed that10hypothesizes all verified.5.The debate of the results. Discussing the meaning of the paper’s research in boththeory and practice. The10hypothesizes which are supported analyzed in this paper, anddiscussed the enlightenment and significance of the results.This research innovation place mainly reflects in:1.It Investigates and analyzes relationship among the institutional environment,opportunity, innovation, and forms valid scales.2.This paper combine the view of institutional and opportunities, breakthrough thetraditional research approach which is used to divided the the institutional environment andopportunity separately. Introduced the entrepreneurial opportunities into the relations between institution and innovational performance, and then discussed the mediation effectsof opportunities for innovation on the relations between institutional environment andinnovation performance.