Research Of The Impact Of Entrepreneur's Previous Experience And Social Network On Risk Decision Making

In the course of economic development,entrepreneurial activities,as a driving force for promoting technological innovation and industrial upgrading,have posed a serious risk and low success rate that have seriously hindered entrepreneurs' entrepreneurial activities.As a result,entrepreneurship has become a common concern of the theoretical and practical communities The focus of research has important value and research significance.In this paper,risk decision-making is taken as the starting point of the study to study the influence mechanism of previous experience,social network and risk perception on risk decision-making,and then to study the influence of previous experience and social network on risk decision-making with risk perception as a mediating variable.Based on the framework model of decision-making and dual-processing theory,a dual-system model of decision-making and processing is constructed by taking entrepreneur's internal characteristics(previous experience)and external characteristics(social network)as independent variables and risk perception as mediating variables.System 1 is an empirical decision-making model based on previous experience.System 2 is a cognitive model based on risk perception,and system 2's cognitive operation is based on the entrepreneur's internal knowledge background and externally related information cues.In addition,the theory of social network is divided into the size and intensity of the network to verify the impact of social network on risk decision-making.On this basis,we put forward hypotheses one by one by reading a large number of documents so as to reveal the relationship among variables so as to reasonably explain the influencing factors and their interrelationships in entrepreneurial activities.In order to test the hypothesis proposed,using questionnaire design and research methods,with the start-ups in the country as the research object,finally obtained 678 valid questionnaires.After finishing,testing and regression of large sample data,the conclusion of this paper is reached: Risk decision-making is influenced by the previous experience of entrepreneurs,social networks(including network size and intensity)and risk perception.The richer the earlier experience,the more social networks,the more extensive the risk perception,the better the risk decision-making effect is.As a mediating variable,risk perception has an intermediary effect between previous experience and risk decision-making,social network and risk decision-making.By incorporating prior experience and risk perception into the entrepreneur's risk-decision process,it is confirmed that the entrepreneur's risk decision is indeed processed by both systems,and that system 2(risk perception)relies on system 1(prior experience).While in the model the introduction of social networks,making the decision-making mechanism more perfect,to provide a new research ideas.From a practical point of view,this study provides some reference for entrepreneurs how to make effective use of decision-making and processing model and improve decision-making quality.