Research On The Influence Of Entrepreneurial Decision-making Logic On New Venture Performance

Entrepreneurial decision-making logic plays a key role in the development of new ventures.Sarasvathy(2001)pointed out that causation and effectuation are the two main modes of human logical reasoning.The existing literatures focus on the study about the effect of causation and effectuation,but few studies have explored the internal mechanism.In this context,this paper attempts to combine entrepreneurial research and strategic management research to investigate whether resource bundling strategy plays a mediating role between entrepreneurial decision logic and new venture performance.Therefore,this paper mainly studies two issues: The first issue is from the perspective of entrepreneurs' internal decision-making,quantify the specific dimensions of causation and effectuation,discussing the impact of each dimension on the new venture performance.The second issue is from the perspective of entrepreneurs' resource behavior,discussing whether the stabilizing resource bundling and the pioneering resource bundling play a mediating role between the entrepreneurial decision logic and the new venture performance.Based on the review of entrepreneurial decision logic theory,resource management theory and related literatures,this paper builds a theoretical model of "entrepreneurial decision logic-resource bundling behavior-new venture performance",using the "entrepreneurship behavior research " questionnaire by questionnaire star platform to obtaining research samples,a total of 336 samples were selected.By using the structural equation model to analyze the sample data,the conclusions are following: Firstly,expected returns,competitive market analysis have positive effect on new venture performance;goals,overcome the unexpected have no effect on new venture performance.Next,means,leverage contingency have positive effect on new venture performance;affordable loss,partnership have no effect on new venture performance.Then,stabilizing resource bundling,pioneering resource bundling have positive effect on new venture performance.Finally,The effect from goals to new venture performance hasn't been mediated by stabilizing resource bundling;The effect from Expected returns to new venture performance has been mediated by stabilizing resource bundling;The effect from competitive market analysis to new venture performance has been mediated by stabilizing resource bundling;The effect from overcome the unexpected to new venture performance hasn't been mediated by stabilizing resource bundling;The effect from means to new venture performance has been mediated by pioneering resource bundling;The effect from affordable loss to new venture performance hasn't been mediated by pioneering resource bundling;The effect from partnership to new venture performance hasn't been mediated by pioneering resource bundling;The effect from leverage contingency to new venture performance has been mediated by pioneering resource bundling.