Research On Relationship Between External Social Capital， Knowledge Acquisition And The Performance Of New Venture

Technical progress, Social transformation and Economic reform is lifting the entrepreneurship upsurge worldwide; however, compared with the active entrepreneurial activity, the new ventures in our country is with a rather low survival rate. Especially, due to the disadvantages of growth in new ventures, it is rather difficult to gain knowledge resources with competitive advantage through internal creation. Therefore, it is essential to examine how to promote the sustainable growth of new ventures from the angle of external factors. As one kind of asserts which new ventures obtain from the social network, the external social capital of new ventures, is of great significance to the explanation of the knowledge gains and performance promotion in the intricate entrepreneurial environment. Based on this, this thesis will put emphasize on two aspects of new ventures from the angle of social capital, the knowledge acquisition of external social capital and the influence mechanism of performance, thus to make up the limitation of research in this field.This thesis is divided into three parts:Firstly, it deals with the the related home and abroad literature review and the definition of new venture’s external social capital, knowledge acquisition, new venture performance and the relationship among them. The external social capital is divided into three divisions, structural dimensions, relational dimension and cognitive dimensions. Propose corresponding hypothesis of social capital, knowledge acquisition, new venture performance and establish the research model on this basis.Secondly, based on the related theory and literature, the author has designed a questionnaire of investigaion, and operated a formal research after a series of pretests. There follows the work of obtaining data by empirical test of large samples and relatedhypothesis through a series of analysis of truth test, validity test (confirmatory factor analysis) and covariance structural analysis.Finally, integrated with this research and the conclusion of the analysis, it is necessary to refer to the limitation and the future trend of it.The major conclusion can be drawn as follows, through the analysis of116questionnaires of investigation:1.The new venture external social capital and all the dimensions has a significant positive correlation on knowledge acquisition.2.Knowledge acquisition has a significant positive correlation on new venture performance.3.The new venture external social capital and all the dimensions are important channels to promote the new venture performance.4.Knowledge acquisition has played the role of mediation in the new venture performance effects made by new venture external social capital and all the dimensions.