Research On The Path Of Returnees' Social Capital To The New Venture Performance

The success of returnees has lead to innovation.As the improvement of China's business environment and support overseas talents innovation entrepreneurship policy,China appeared the returnees entrepreneurial community.But due to the long living abroad,lack of domestic social capital accumulation,and new entry defect of start-up,lacking the support of resources holders and customers,which makes the returnees startup dilemma facing external resources.At the same time,entrepreneurship is a complex phenomenon,and the social capital,entrepreneurship and entrepreneurial opportunities also influence the entrepreneurial performance,but the influence path of is not known.This study tries to reveal the "black box" of how returnees entrepreneur social capital influences the performance of new ventures,which is helpful to enrich the entrepreneurship theory and can provide suggestions for entrepreneurial practice.At first,the paper combed the entrepreneur social capital,entrepreneurship research related theory and literature at home and abroad systematically,analyzes the relationship among the overseas entrepreneur social capital,entrepreneurship,entrepreneurial opportunities and start-up performance in-depth,build the influence mechanism model of overseas entrepreneur social capital to the performance of new ventures;Secondly,the paper uses the method of questionnaire survey to collect data,using software to do with the analysis,structural equation model analysis with the sample of 120 returnees entrepreneurs,test the conceptual model validation theory hypothesis;Finally,the author discusses the research results and puts forward some suggestions on how to improve the success rate and entrepreneurial quality of returnees from the perspective of returnees and public policy makers,including increasing the quantity and quality of the returnees entrepreneur social capital,foster returnees' entrepreneurship,recognize valuable returnee entrepreneurial opportunities,then points out the article further research prospects.This paper draws the following conclusions:(1)Returnee entrepreneurs' social capital is not significant to the start-up performance directly,but other entrepreneurial factors such as entrepreneurial spirit and entrepreneurial opportunities are positively correlated with the performance of new business;(2)Returnees' entrepreneurship plays the intermediary role in entrepreneurial opportunity and social capital;(3)Returnees' entrepreneurial opportunities plays the intermediary role in entrepreneurship and new ventures performance;(4)The transmission mechanism between returnee entrepreneurs' social capital and startup performance is "social capital to entrepreneurship to entrepreneurial opportunities to startup performance".Research shows that returnees' social capital can stimulate the entrepreneurial spirit so as to find a effective entrepreneurial opportunity,realize the ascension of startup performance.The results also expand the business management theory,and has important revelation to returnees startup performance improvement under the new normal Chinese.