Research On The Relationship Of Entrepreneur Capital,Entrepreneurial Learning And Resource Acquisition Of The New Venture

Progress of technology, economic change and social transformation set off a global business boom, Entrepreneurial activity has great social economic value, it can promote the economic development of countries and regions, and create new wealth for the society. New Venture has become an important force in the world economy, so the development of New Venture has become a hot issue in academic research all around the world. However, most of New Ventures are facing the problem of the serious of resources, "resource constraints" has become s key restrict factor in the rapid growth and even long-term survival of New Venture. A lot of research founded that the limitation of resource is one of the most important reasons of the high rate of failure of the New Venture. With the rise of the knowledge economy and the transformation of the system, the entrepreneur activity in China is also booming. Because of the lack of legitimacy, it is more difficult in obtaining resources to New Ventures. So it has great significance in both theory and practice to identify the factors which can improve the ability of resource acquisition and find out how to play the maximum value of the resource to the New Venture.Compared with the large enterprises, the creation and development of New Venture largely depends of the entrepreneurs, as a particular factor, entrepreneur capital is an important antecedent to the success of New Ventures. While the entrepreneur capital has the feature of endogenous, it is not able to meet the growing needs of the New Venture by the entrepreneur’s own capital because of the uncertainty of entrepreneurial activity. Therefore, it is necessary to imitate, learn and transform constantly in the entrepreneurial activity to meet the resource needs, namely entrepreneurial learning. This study explains the influence mechanism of entrepreneur capital and entrepreneurial learning to the resource acquisition of New Venture, and puts forward that entrepreneurial learning plays an intermediary role between Entrepreneur Capital and resource acquisition of New Venture.The main research content includes the following:The first part is a literature review. This part makes a definition of the New Venture’s resource acquisition, entrepreneurial learning, entrepreneur capital and the dimension of these three divisions on the basis of combination and analyzation of the related literature.The second part puts forward a theoretical model and the assumptions. This study discusses the relationship between entrepreneur capital and resource acquisition, entrepreneurial learning and resource acquisition, entrepreneur capital and entrepreneurial learning. Then propose four main assumptions.The third part is a testing of the research model, using the empirical methods. This study investigated 500 entrepreneurs and executives. At the end, we received 412 questionnaires, and 362 effective questionnaires are used in the final analysis, excluding the invalid questionnaires. On the basis of the collected data, this research makes an analysis, containing validity analysis, reliability analysis, and the data analysis mainly contains correlation analysis, regression analysis. The final result shows that the assumptions basically pass the test, which suggesting that the model putted forward is correct.The forth part of this research is discussing and analyzing the results, and put forward some relevant research revelations.This paper summarizes the results of the research and puts forward some relevant suggestions at the last part. Also points out the limitation of this study. This research aims to explain that how does entrepreneur capital increase the resource of New Ventures by improving the way and the efficiency of entrepreneurial learning, so it can enhancing the scientific planning of the resources acquisition and the understanding of the practical laws, in order to improve the rate of successful of New Ventures.The innovation of this study is that it is extremely dynamic and complex of today’s business environment, the entrepreneurial learning and the resource acquisition has the feature of dynamic themselves. So it can explain the phenomenon of entrepreneurial from a dynamic perspective and it can also compensate for the lack of static trait theory; as the soul and core of a new venture, the entrepreneur capital determines the success of the new venture mostly. This study analyses the influence of the entrepreneur capital and the entrepreneurial learning to the resource acquisition of New Ventures, and constructs a new theoretical model and put forward that entrepreneurial learning is an intermediary variable, then verifies by empirical research, thus provides a theoretical basis to future research.