The Effect Of Intangible Resource And Entrepreneurial Self-efficacy On Entrepreneurial Performance

Entrepreneurship which is an important economic impetus plays an importantrole in the development of a society. With the economic transformation of China,entrepreneurial activity is getting more active, and the number of entrepreneurship isalso bigger than before. In the entrepreneurial process, intangible resources can helpnew ventures to obtain competitive advantages, and promote their development andgrowth. At the same time, entrepreneurial self-efficacy plays an important role in theresources access and integration process.First of all, social networks contain rich resources and information, throughwhich entrepreneurs can access to all kinds of resources that new ventures need. As aresult, social networks can promote the development of new ventures and improve theperformance of new ventures. Second, our society is an information society, thosewho can master information accurately and timely have the initiative, and those whocan timely obtain the required information resources will promote the performance ofnew ventures. Finally, as an important participants and policymakers inentrepreneurial activity, entrepreneur internal cognitive trait--entrepreneurialself-efficacy can affect the performance of new ventures.Therefore, with the research of literature, we develop our research model basedon resource dependence theory, and we take social network and information resourceas intangible resources. We introduce social network theory and informationeconomics theory, and divide social network into network size and network intensity,information resources into information quality and information quantity, so that wecan explore the invisible resources’ effect on new ventures’ performance. At the sametime, we explore the impact of entrepreneurial self-efficacy on the relationshipbetween intangible resources and entrepreneurial performance, and then we build atheoretical model and use empirical data test it.Our research results show that in the development of new ventures,1)socialnetwork have a positive impact on new ventures performance,2)information resources have positive impact on new ventures performance,3) entrepreneurialself-efficacy have positive impact on new ventures performance,4)entrepreneurialself-efficacy play a regulatory role in this process.The results of this study confirm the relationship between intangible resourcesand new ventures performance, and reveal the role of entrepreneurial self-efficacy inthis process. This paper provides more thinking and approach for the field ofentrepreneurship, which can also provide entrepreneurs and new ventures somesuggestion to promote entrepreneurial performance and new ventures growth inChina.