An Empirical Study Of The Effect Of Resources Endowment On Growth Performance For Entrepreneurial Enterprises

At present,China's economic development has entered a new era.The government has vigorously advocated “mass entrepreneurship and innovation” and more and more entrepreneurial enterprises have emerged in China.In the early stage of development,entrepreneurial enterprises have small scale and poor profitability.The dependence on various types of resources makes the entrepreneurial enterprises' potential growth ability and development risks coexist together.Compared with ordinary enterprises,the dependence of entrepreneurial enterprises on resources endowments are more prominent.The resources endowment of a entrepreneurial enterprise refers to its own development-friendly factor resources,such as financial resources,management resources,technical resources,human resources and CEO social capital resources.The growth performance of entrepreneurial companies is a fundamental manifestation of the realization of competitive advantages and it is also a measure of the degree of achievement of entrepreneurial enterprises' entrepreneurial goals.How to effectively develop and utilize existing resources,maximize the internal potential of enterprises and improve their growth performance are the core issues during the development of entrepreneurial enterprises.This paper studies the growth performance of entrepreneurial enterprises from the perspective of resources endowment.Firstly,some basic theories of resources endowments theory,resource dependence theory,enterprise resource basic theory and enterprise competence theory are used by the author to analyze the financial resources,management resources,technical resources,human resources and CEO's social capital resource of entrepreneurial enterprises which are in the initial development stage.Then the author puts forward five research hypotheses and carries out the empirically tests to verify the impacts of resources endowments on the growth performance of entrepreneurial enterprises.The research results show some facts.For example,in the initial resources of entrepreneurial enterprises,the richer the technical resources and financial resources are,the more growth performance will be promoted.And in the process of the entrepreneurial enterprises' development,they will gradually reduce thedependence on production and management resources.The CEO's social capital resources may only be able to play a key role in the specific systems and policies for entrepreneurial enterprises.At the same time,based on the conclusions,the paper shows some measures and suggestions for entrepreneurial enterprises about how to explore their potential,enhance their growth performance and promote their sustainable development.The innovation of this paper lies in the study of the entrepreneurial enterprises' growth performance from the unique perspective of resources endowments.At the same time,when categorized the resources endowments,the author added the CEO's social capital resources which reflects the characteristics of entrepreneurial enterprises in their early development stage.This study is useful to enrich the research content in the field of entrepreneurial companies,resources endowments and growth performance.This research is of reference value for rationally optimizing the allocation of all kinds of resources and promoting the long-term development of entrepreneurial companies.