The Influence Of Entrepreneur Social Capital On The Performance Of New Ventures

In the era of "mass entrepreneurship and innovation",China has set off a boom in entrepreneurship.However,in the fierce and complex market competition,new ventures often have high failure rates.How to successfully achieve entrepreneurial growth is a focus of concern for entrepreneurs and entrepreneurial research.Researchers at home and abroad have conducted extensive and in-depth inquiry on entrepreneurial growth issues based on different theoretical perspectives.Among them,entrepreneurial social capital theory has a strong explanatory power for entrepreneurial performance issues.However,the existing literature rarely studies the internal mechanism of entrepreneurial social capital's influence on the performance of entrepreneurial enterprises,and lacks the discussion on the transmission mechanism between the two.The conclusions of only a few research results are also inconsistent.Some studies believe that the intermediary variable of entrepreneurial social capital affecting the performance of entrepreneurial enterprises is the absorptive capacity of enterprises.Some studies also believe that the intermediary variables are the marketing ability of enterprises,and some scholars believe that the intermediary variables are market knowledge capabilities.So,which core variables play a mediating role in the internal mechanism of entrepreneurial social capital affecting the performance of entrepreneurial firms? Existing research has not given the answer.Based on the theory of social capital and the core competence theory of the organization,this paper constructs an integrated research model of “ entrepreneur social capital – key organizational core competence – new venture performance”,proposes corresponding research hypotheses,and compiles scales and questionnaires.A survey of entrepreneurs was conducted using online and offline surveys,and a total of 276 valid samples were collected.Then use SPSS19.0 and AMOS21.0 software for reliability analysis,exploratory factor analysis,confirmatory factor analysis and structural equation model analysis,test the research hypothesis,draw the research conclusions,and put forward corresponding enterprise management suggestions.On this basis,it further points out the shortcomings of the research and proposes future research prospects.The results of this thesis show that:(1)Entrepreneur's first social capital,entrepreneurial market,and institutional social capital have a significant positive impact on the marketing ability of new ventures.(2)Entrepreneurial market and institutional social capital have a significant positive impact on organizational innovation capabilities.(3)Entrepreneur market social capital has a significant positive impact on survival and growth performance;entrepreneurial institutional social capital has a significant positive impact on survival,growth and profit performance.(4)Organizational innovation ability and organizational marketing ability have a significant positive impact on the performance of new ventures.(5)Organizational innovation ability has played a part in mediating the relationship between entrepreneurial market and institutional social capital on the performance of new ventures.(6)Organizational marketing ability has played a part in mediating the relationship between entrepreneurial social capital,market social capital and institutional social capital on the performance of new ventures.The innovation of this thesis includes three aspects: First,the research on the relationship between entrepreneurial social capital and corporate performance is extended to the field of entrepreneurial research,and the entrepreneurs(new entrepreneurs)are empirically explored.Create a mechanism for the growth of corporate performance,and put forward corresponding management recommendations,enriching and developing the theory of social capital and the theory of entrepreneurial growth.Second,based on the core competence perspective of key organizations,the internal mechanism of entrepreneurial social capital affecting the growth of new ventures is explored.That is,entrepreneurial social capital promotes the innovation ability and marketing ability of new ventures,thereby improving the performance of new ventures and promoting the growth of new ventures.Thirdly,on the basis of the two-dimensionality of entrepreneurial market social capital and institutional social capital,the entrepreneurial social capital dimension is increased,and the dimension of entrepreneurial social capital is expanded to three,thus enriching the social capital of entrepreneurs.Connotation enhances the measurement accuracy of entrepreneurial social capital,and provides a theoretical reference and practical reference for entrepreneurs to give full play to the advantages of innate social capital in the process of entrepreneurial growth.