A Study On The Influence Of Entrepreneur’s Locality On Enterprise’s Innovation Output

In recent years,China’s contribution rate of scientific and technological innovation to economic growth has been increasing,energy consumption per unit of GDP has been declining,and a large number of major achievements have been made in many frontier fields such as blockchain,Internet of Things,biomedicine China is achieving a leap in high-quality economic development.However,compared with developed countries,China still has a large gap,especially the lack of innovative entrepreneurs is still a shackle restricting the development of China’s enterprises and even economic development.The report of the 20 th CPC National Congress pointed out that "we must adhere to the principle that science and technology is the first productive force,talent is the first resource,and innovation is the first power,and thoroughly implement the strategy of rejuvenating the country through science and education,the strategy of strengthening the country through talent,and the strategy of innovation-driven development","accelerate the implementation of the innovation-driven development strategy,and accelerate the realization of high-level science and technology self-reliance".It is particularly important to stimulate the innovative spirit of entrepreneurs and fully tap and utilize human resources.Therefore,in the new era,it is of great significance to explore whether entrepreneurs’ sense of locality can promote enterprise innovation output.This article believes that it is of great significance to the local emotion and identity,especially under the influence of China’s strong national culture,the idea of returning to the roots of the fallen leaves and benefiting the hometown is deeply rooted.A sense of locality can help enterprises reduce self-interest,gain social capital,and reduce the degree of information asymmetry with investors.Based on this,this paper will carry out the following research: Will entrepreneurs’ sense of locality affect the innovation output of enterprises? What is the mechanism of action? What factors will affect the role of entrepreneurs’ sense of locality in promoting enterprise innovation output? What economic impact will entrepreneurs’ sense of locality have on enterprises? In order to answer the above questions,this paper selects non-financial listed companies in Shanghai and Shenzhen A-shares from 2009 to 2019 as the research sample,and empirically tests the internal relationship between entrepreneurial sense of locality and enterprise innovation output by comprehensive use of theoretical derivation,panel regression,intermediary effect test,regulatory effect test,robustness test and other methods,and draws the following conclusions:(1)entrepreneurial sense of locality can significantly promote enterprise innovation output;(2)The stimulation of entrepreneurial innovation spirit is the internal mechanism of the above impact.Among them,entrepreneurial sense of locality has no significant impact on the identification of opportunities by improving their risk preference,expanding their social network and stimulating their dynamic innovation awareness;(3)The heterogeneity test shows that the external environment of enterprises(regional economic development level,innovation culture environment),enterprise characteristics(ownership attributes),entrepreneurial characteristics(innovation awareness,age)and other factors will have an impact on the promotion of entrepreneurial sense of locality on the innovation output of enterprises,but under the return of enterprise equity incentive groups,the promotion of entrepreneurial sense of locality on the innovation output of enterprises does not have heterogeneity;(4)The study of the economic consequences found that entrepreneurship’s sense of locality significantly promoted the innovation output of enterprises,thus enhancing the value of enterprises and promoting the high-quality development of enterprises.The innovation of this paper lies in:(1)creatively connecting the sense of entrepreneurship with enterprise R&D innovation,expanding the research on the influencing factors of enterprise R&D innovation;At the same time,we use geographical distance to describe the variables of local sense of local entrepreneurs,and try to explore the impact of local sense of local entrepreneurs on enterprise innovation output from the perspective of local sense of local entrepreneurs and local sense of local entrepreneurs;(2)Build a diamond model of entrepreneurial innovation spirit(as shown in Figure 4.1),and decompose entrepreneurial innovation spirit into four micro characteristics of entrepreneurs:risk preference,social network,opportunity identification and dynamic innovation.Entrepreneur’s risk preference means that entrepreneurs should be "bold",social network means that entrepreneurs should be "connected",opportunity identification means that entrepreneurs should be "visionary",and dynamic innovation means that entrepreneurs should be "persistent".This paper innovatively integrates the sense of entrepreneurship,entrepreneurship and enterprise innovation into the same theoretical framework,which enriches the relevant research on the characteristics of managers;(3)Exploring the impact of the external environment of enterprises,enterprise characteristics and entrepreneurial characteristics on the relationship between entrepreneurial localization and enterprise innovation output has enriched the interdisciplinary theoretical research of human geography,social psychology and management.The research in this paper has enlightening significance for enhancing the sense of locality of entrepreneurs,stimulating the innovative spirit of entrepreneurs,and promoting the value promotion and high-quality development of enterprises.