An Empirical Study On The Impact Mechanism Of Corporate Social Capital On Corporate Entrepreneurial Performance

Today is an era in which both opportunities and challenges coexist.While enterprises in a market economy environment face more opportunities for development,the challenges they face are even more daunting.In order to maintain continuous innovation and competitive advantage,more and more established companies have begun to join the camp of entrepreneurship.Corporate entrepreneurship has gradually become an important strategic choice for the company.Corporate entrepreneurship refers to a variety of activities undertaken by established companies which want to promote organizational growth and improve organizational performance,and to pursue a common vision with the collective strength of the company.However,at present,the focus of entrepreneurial research is still the entrepreneurship of entrepreneurs and start-ups.There is still relatively little research on the entrepreneurial activities of established companies.In addition,the relevant research on the changes in the performance of the corporate entrepreneurship is not enough.In the process of corporate entrepreneurship,the existing research still lacks attention to the important role of corporate social capital in resources,information acquisition,and risk aversion.Similarly,the role of entrepreneurial strategic tendency in the corporate's entrepreneurial activities cannot be ignored.It will affect the degree of utilization of the social capital by the enterprise and thus affect the entrepreneurial performance.The insufficiency of the past research provides an opportunity for this article.Therefore,this article takes corporate entrepreneurship as the starting point of research to carry out relevant research.It is expected to enrich existing research theories and provide reference for decision-making of the company.The research in this article is mainly divided into the following sections.First of all,this article combs the existing related literature,and gives the theoretical basis for this study.Then,this paper uses the event research method to explore the performance of the established company's entrepreneurial activities.Finally,we use the regression method to analyze the impact of corporate social capital on entrepreneurial performance and the regulatory role of entrepreneurial strategic tendency in the process of launching entrepreneurial activities of established companies.This article selects A-share companies from 2010 to 2015 as a sample of the study.The analysis software is Eviews 8.0.This paper finds the following results:(1)Corporate entrepreneurial activity has a significant positive impact on corporate performance.At the same time,there are significant differences in the degree of influence of different entrepreneurial approaches on corporate performance;(2)In the process of corporate entrepreneurial activities,corporate social capital has a significant positive impact on entrepreneurial performance.At the same time,the various dimensions of corporate social capital have different effects on entrepreneurial performance.(3)In the entrepreneurial activities carried out by enterprises with different entrepreneurial strategic tendency,the role of corporate social capital is also different.Among them,for a company with a low level of entrepreneurial strategic tendency,the horizontal relationship of the enterprise capital plays a more significant role in the enterprise's entrepreneurial activities,and its positive relationship with entrepreneurial performance is more pronounced;for a company with a high level of entrepreneurial strategic tendency,the social connection of the enterprise capital plays a more significant role in the enterprise's entrepreneurial activities,and its positive relationship with entrepreneurial performance is more pronounced.(4)Whether it is a risk-based or risk-conservative enterprise in the process of undertaking corporate entrepreneurial activities,it is usually unwilling to obtain the resources it needs by using the relationship with the government.Based on the research results of this paper,we have obtained the following inspirations in corporate practice.First,corporate entrepreneurship is an important way for established companies to increase their core competitiveness and performance in an uncertain environment.Research shows that companies conducting entrepreneurial activities can affect corporate performance.In addition,during the process of undertaking entrepreneurial activities,enterprises should attach great importance to corporate social capital.In the ordinary course of development,companies should also accumulate corresponding social capital according to their own risk preferences.