Research On The Relationship Between Organizational Slack And Venture Failure:the Moderated Effect Of Resource Bricolage

China is in the period of economic transformation,and the extensive economic development model has led to different levels of organizational slack.In addition,the call of the national“popular entrepreneurship and innovation”has attracted a large number of entrepreneurs,but the rate of venture failure of Chinese entrepreneurs is surprisingly high.The existing literature has done a lot of research on the relationship between organizational slack both innovation and performance,but the relationship between organizational slack and entrepreneurial failure hasn't been discussed.In this regard,this paper conducts empirical research on the relationship between organizational slack and entrepreneurial failure,to explore the possible impact of different types of slack resources on venture failure,and joins the resource bricolage used by new firms to test its moderated effect on the relationship between organizational slack and venture failure.This paper takes 97 firms from information service industry listed on the China Growth Enterprise Market during 2009 to 2015 as the research sample,and the data comes from the prospectus and annual report of the listed company.The SPSS 24.0 software is used to analyze the sample data.The relationship between different types of organizational slack and venture failure is empirically tested,and the moderated effect of resource bricolage is further verified.The main conclusions are as follows:First,the effects of different types of organizational slack on venture failure are different.Through empirical analysis of relevant data,financial slack has a significant negative impact on venture failure,and operational slack has a significant positive impact on venture failure.Second,resource bricolage has a moderated effect on the relationship between organizational slack and venture failure.Through empirical analysis,this paper finds that the level of customer bricolage is higher,the negative impact of financial slack on venture failure is greater,that is,the less likely it is to fail in entrepreneurship.The level of institutional bricolage is higher,the negative impact of financial slack on entrepreneurial failure is greater,that is,the less likely it is to fail in entrepreneurship.The level of institutional bricolage is higher,the negative impact of operational slack on venture failure is greater,that is,the less likely it is to fail in entrepreneurship.The organization with a higher level organization means that it is more capable of optimizing the utilization of organizational resources,so it can offset the negative effect of operational slack to prevent entrepreneurial success to someextent,that is,institutional bricolage has a negative moderated effect on the relationship between operational slack and venture failure.There are two main innovations in this paper.First,in the previous research on organizational slack,most of the listed private enterprises or enterprises with good performance were studied,and scholars paid more attention to the impact of slack resources on corporate innovation and performance,etc.,but this paper takes the venture enterprise as the research object and puts forward the hypothesis of the relationship between organizational slack and venture failure,then adds the moderated effect of resource bricolage,which expands the scope of impact of organizational on the enterprise.It also enriches the literature on resource bricolage and venture failure.Second,in the previous research on the venture failure,the definition of venture failure is unclear,inconsistent,and operational measurement is difficult,but this paper makes the operational measurement to venture failure through the comparison between the actual benefit and the expected goal of the new project,which provides a reference for research related to future entrepreneurial failures.