Entrepreneurial Opportunity Recognition And The Use Of Leveraging Resources

Entrepreneurial opportunity recognition is playing an important role of distinguishing and indeed going to the "heart" of a more general theory of entrepreneurship.Furthermore,the research of entrepreneurial opportunity recognition can improve the academic legitimacy of entrepreneurship.Leveraging resources,which can improve the successful rate of entrepreneurship,is a key element for resolving the constraints of entrepreneurial resources.The previous researches have usually discussed opportunity recognition with an individual-level,which particularly caring about the role of entrepreneurs or entrepreneur teams.On the other hand,the previous efforts on the exploitation of entrepreneurial opportunity mostly concentrated on the interactions between entrepreneurs and opportunities with a Resource-based View,instead with an Extension of the Resource-based View.This paper will discuss the process of entrepreneurial opportunity recognition and the use of leveraging resources with an analysis approach of firm-level.The research questions are as follows:(1) During the process of entrepreneurship,why is it that some frms come to recognize entrepreneurial opportunities instead of others?(2) If the opportunity can be recognized successfully,why some firms can use leveraging resources instead of others?(3) If the leveraging resources are available,why the efficiency and effectiveness of leveraging resources is better in some firms than that in others?To discuss the above questions,hierarchical regression of cross-functional data is conducted in this research to test the theoretical model.Data used in the research obtained by survey and questionnaires were filled out by entrepreneurs or CEOs.147 effective samples obtained were from firms in valuable samples from a total sample of 300.These 147 effective samples were obtained from firms in provinces and municipalities including Beijing,Shanghai,Zhejiang,Jiangsu,Guangdong,Shandong, Chongqing,Hebei,Shanxi,Jiangxi,Hunan and Shanxi.There are 93.3 percent valuable samples coming from the active entrepreneurial areas.The response rate is 49%(147/300).The main purposes of the questionnaires are to help identify,from an adequate number of enterprise samples,the data of entrepreneurial opportunity recognition,the availability of leveraging resources,the efficiency and effectiveness of leveraging resources,and other relevant data.These data were then used to test the theoretical hypothesis.Major results of the entrepreneurial recognition stage show that:(1) the schema and entrepreneurial orientation can directly influence the entrepreneurial opportunity recognition.But the influence can not be moderated by entrepreneurial alertness;(2) self-efficacy can not directly influence the entrepreneurial opportunity recognition. But the interaction between self-efficacy and entrepreneurial alertness can influence the entrepreneurial opportunity recognition;(3) strong social networks can not directly influence the entrepreneurial opportunity recognition,neither can the moderator of entrepreneurial alertness work;(4) weak social networks can directly influence the entrepreneurial opportunity recognition.This influence can also be moderated significantly by entrepreneurial alertness;(5) Entrepreneurial alertness can directly influence the entrepreneurial opportunity recognition.Major results of the availability of leveraging resources stage show that:(1) public conscious activity and human capital have significant influences on the availability of leveraging resources.These influences are also moderated by the Extension of the Resource-based View;(2) resource heterogeneity can not directly influence the availability of leveraging resources,but the interaction between resource heterogeneity and ERBV can significantly influence the availability of leveraging resources;(3) firms' networks can significantly influence the availability of leveraging resources,but the relation can not be moderated by ERBV directly;(4) firm reputation can directly influence the availability of ieveraging resources,and the interaction between firm reputation and ERBV can significantly influence the availability of leveraging resources;(5) ERBV can directly influence the availability of ieveraging resources.Major results of the efficiency and effectiveness of leveraging resources stage show that:(1) the familiarity of leveraging resources can positively influence the efficiency and effectiveness of lever'aging resources,and the interaction between the familiarity of leveraging resources and the ability of organization learning can directly influence the efficiency and effectiveness of leveraging resources;the tacit leveraging resources can negatively influence the efficiency and effectiveness of leveraging resources,and the interaction between the tacit leveraging resources and the ability of organization learning can marginal negatively influence the efficiency and effectiveness of leveraging resources;(2) the fitness between leveraging resources and markets can not directly influence the efficiency and effectiveness of leveraging resources,and the ability of organization learning can not moderate the relation significantly;(3) the complementary leveraging resources and the resource sharing mechanism can positively influence the performance of ieveraging resources;the interaction between the complementary leveraging resources and the ability of organization learning can marginal positively influence the performance of leveraging resources;the interaction between the resource sharing mechanism and the ability of organization learning can positively influence the efficiency and effectiveness of leveraging resources;(4) the specificity of leveraging resources can not directly influence the efficiency and effectiveness of leveraging resources,and the interaction between the specificity of leveraging resources and the ability of organization learning can not positively influence the efficiency and effectiveness of leveraging resources;(5) the dependability of the co-operators can negatively influence.the efficiency and effectiveness of leveraging resources,but the ability of organization learning can not moderate the relation;(6) the ability of organization learning can significantly influence the efficiency and effectiveness of leveraging resources.The innovations of this paper:(1)The paper builds up a three-stage entrepreneurial model and tests the three models continuously as a whole;(2)Using a firm-level perspective to test the entrepreneurial opportunity recognition instead of the previousindividual-level perspective;(3)Enrich the Extension of the Resource-base View Theory;(4)Enrich the leveraging resources theory and primarily explore the key elements of the availability of leveraging resources and the efficiency and effectiveness of ieveraging resources.