Business Environment And Opportunistic Entrepreneurship

"Mass entrepreneurship,public innovation" is proposed in the new economic stage,to promote the upgrading of the economic structure,to create a new impetus for economic development of the national strategy.The key to implementing innovative entrepreneurship policies is to encourage more individuals to participate in the process of innovation and entrepreneurship by creating a good and fair environment,stimulating entrepreneurship and innovation enthusiasm from the bottom up.It is important to note,however,that different types of entrepreneurship have differentiated economic impacts,and that opportunistic entrepreneurship,driven by business opportunities,has clear advantages over growth potential,business prospects,innovation capacity,job creation and economic radiation effects compared to subsistence start-ups that are forced by livelihoods.Economies with a high percentage of opportunistic start-ups,which often also have higher quality entrepreneurship,can be expected to have a significant positive impact on economic development.A good and fair entrepreneurial environment,that is,the business environment,covers the whole process of enterprise entry,survival to exit.A good business environment means that enterprises can enter the entrepreneurial activities at a lower fixed cost,which is conducive to more individuals with certain talents to choose the opportunity type of entrepreneurship.But when an opportunity start-up starts,it doesn't mean that entrepreneurial activity can make a positive impact.Enterprises too short survival time,will dispel the individual's enthusiasm for entrepreneurship,and with the emergence of unemployment,economic losses and other issues.Extending the survival time of enterprises,so that enterprises can enter into a long-term or mature period,their employment-driven ability,innovation ability will be significantly improved.Whether the business environment can effectively promote the individual's choice to enter the opportunity type of entrepreneurship,as well as prolong the survival time of opportunistic start-ups,is the core issue of this paper.On the basis of existing literature,this paper mainly uses the Global Entrepreneurship Watch(GEM)and the World Bank global Business Environment Database(Doing)data from 2003 to 2014,with a sample capacity of 812,400,covering 91 economies after data processing.Using Probit regression,it is found that the business environment can promote the probability of individual choosing to start a business,improve the business environment by 1%,and the probability of individual choosing to start a business is significantly increased by 0.074% at a significant level of 5%.According to different types of entrepreneurship,the main impact of the business environment is the opportunity type of entrepreneurship concerned in this paper,the marginal effect of 0.085%.That is,opportunistic start-ups are more sensitive to the business environment,mainly because opportunistic start-ups are driven by market opportunities.Business environment The main reason for increasing the probability of individuals choosing to engage in opportunistic start-ups is to reduce the threshold for individuals to start a business.In order to verify this mechanism,this paper interacts with the variables of the business environment and personal characteristics,and finds that the business environment strengthens individuals with certain skills,women engage in opportunistic start-ups,and has a higher tolerance for risk.On the other hand,the business environment weakens the impact of income on the probability of individual entrepreneurship,mainly because the better the business environment,reduce the inhibition of liquidity constraints on personal entrepreneurship,individuals can be through bank loans,equity financing and other ways to reduce the dependence on their own funds.After analyzing the influence of business environment on the probability of individual entrepreneurship,the influence of business environment on the survival time of opportunistic start-ups is further explored.This article chooses to measure the survival time of enterprises is the Global Entrepreneurship Watch provided by the enterprise entrepreneurship for more than 42 months of virtual variables.The empirical results show that the business environment can improve the probability of survival of opportunistic start-ups for more than 42 months at a significant level of 5%,with a marginal effect of 0.22%.For survival start-ups survival time,the business environment does not have an impact.The higher the business environment,there are three kinds of potential mechanisms that affect the survival time of enterprises,one is that a good business environment means more perfect property protection for enterprises,business owners have consistent and stable expectations of innovative R & D activities,so as to enhance the probability of survival of enterprises through differentiation;second,the business environment will affect the time allocation of entrepreneurs in productive and unproductive activities,the higher the business environment,the higher the proportion of distribution in productive activities,the more time and energy for enterprises to carry out R & D innovation;third,the better the business environment,the lower the cost of enterprise management,the increase in profits of enterprises,profitability,The ability to respond to market risks has also been enhanced.In the business environment according to the stage of enterprise management is divided into the early,medium and late business environment,respectively,corresponding to the entry,operation and exit stages of enterprises,found that the impact of the survival time of enterprises is mainly the medium-term business environment.Further,this paper analyzes the mechanism of business environment affecting the survival time of enterprises,and the business environment can strengthen the ability of enterprises to deal with business risks through innovative channels,and improve the probability that enterprises will survive for more than 42 months.This innovation is represented by three variables in the empirical evidence,namely,whether to adopt new technologies,new products and new markets.The interaction between these three variables and the business environment was significant at a significant level of 1%.In order to solve the endogenous problem in regression,this paper adopts the origin of national law as the tool variable of the business environment,and also carries on the robustness test by replacing the variable,the result is still consistent.Based on the above conclusions,the policy suggestions put forward in this paper are to build a convenient and legalization business environment,focusing on the pain points,plugging points and difficulties in the process of enterprise production and operation,not only the need to improve the corresponding system in the enterprise entry stage,but also the need to obtain power in enterprises,construction permits,credit delivery,trade facilitation and other aspects Construct the whole process of high quality business environment.