Prior Experience, Entrepreneurial Learning And New Venture Performance

The great promotion to the economic development from venture has attracted scholars,society and the government’s concern and attention. Prior experience is an important initial condition that affects new venture performance. The innovative performance of firm is contingent on the resources and capabilities of the firm. In the same time, entrepreneurs can acquire these resources and capabilities through their prior experience and through their work which they bulid during their work. Entrepreneurs can bulid up their own "knowledge corridor", which may impact the improvement of venture performance. Based on the literature review, this paper introduces the mediation concept of entrepreneurial learning, discussing the intrinsic mechanism between entrepreneurial prior experience and new venture performance. There is high theoretieally value and important practical significance in introducing the entrepreneurial learning variable into the researching framework of prior experience and new venture performance and in analyzing their relationships explicitly. Therefore, this paper hopes to reveal the relationship among entrepreneurial prior experience,entrepreneurial learning and new venture performance through the empirical study of the entrepreneurial activities in Hefei, Anhui Province.First through the review of domestic and foreign literature, this paper summary of the theoretical achievements and shortcomings. And constructing the theory frame of the variable of entrepreneurial prior experience, entrepreneurial learning and new venture performance, then putting forward relevant hypothesis.Based on the review of the theory researches, this paper uses statistical analysis software SPSS20.0to analysis the relationship among entrepreneurial prior experience,entrepreneurial learning and new venture performance. There are two stages about empirical research: (1) The small sample test. Senting70questionnaires in small range, then makes project analysis and exploratory factor analysis for entrepreneurial prior experience, entrepreneurial learning and new venture performance’s sclae, eliminating the unqualified item and forming the final questionnaire.(2) Empirical research. Fisrt making descriptive statistical analysis for207effective questionnaires,then testing the questionnaire’s reliability and validity, next to doing each variable’s correlation analysis and regression analysis and finally examining entrepreneurial learning mediation.Through the two stages of the empirical analysis, this paper draw the following conclusions.1.Entrepreneurial prior experience and entrepreneurial learning can directly influence the new venture performance.2. Entrepreneurial prior experience will also directly effect on the entrepreneurial learning.3.Between entrepreneurial prior experience and new venture performance, entrepreneurial learning play the role of mediation, it means entrepreneurial prior experience has an effect on new venture performance through entrepreneurial learning.