| For the past few years,China’s economic and social development are facing great challenges,for example,the gross domestic product continued to decline,investment in fixed assets has been declining for years,industrial production growth rate decreased significantly,it’s hard to stabilize employment and so on.How to solve these problems?We need to continue to encourage entrepreneurship,because entrepreneurial activities can create more jobs and solve the problem of idle human resources,can raise the level of investment in fixed assets of the whole society and boost economic development,can enhance market economy vitality and boost market confidence.Whether different types of enterprises can continue to start a business is not only related to their own growth,but also related to the success of national strategic development.The government is the most critical stakeholder in the external environment of enterprises,how does the relationship between enterprises and government(GER)affects the entrepreneurship? This is the main problem of this thesis.The GER involves the interaction between government and enterprise,it is also regarded as a two-way rent-seeking between government and enterprise.From enterprise perspective,they are subject to government interference,Chinese enterprises almost tend to be intimate with government and pay attention to the changes in government policy.This shows as a political strategy.Form government perspective,it has a motivation to realize local economic development and official promotion,so government intervenes enterprise’s actual operation,the most obvious of which is that enterprises undertake many policy burdens.The political strategy and policy burden reflect the dual interactive nature of the GER.How do they affect the entrepreneurship? This paper has carried on the discussion respectively.First of all,this paper integrates the knowledge-based view and institutional theory,introduces the mediation mechanism of knowledge acquisition and the moderation mechanism of institutional environment,constructs the moderated mediation model,and deeply analyzes the relationship between political strategy and corporate entrepreneurship.Secondly,based on the theory of government intervention and the theory of soft budget constraint,this paper introduces the competitive mechanism of profitability and government subsidies to analyze how different types of policy burdens affect entrepreneurship.At the same time,this paper discusses the influence of policy burden on corporation entrepreneurship of different sizes,property rights and competitive forces.Finally,given that corporation entrepreneurship includes two aspects: entrepreneurial behavior and risk management,which are different constructs,and how they relate to each other is a topic worth studying.Therefore,this paper constructs a cyclic relationship between entrepreneurial behavior and risk management,and discuss the influence of GER on the relationship between low-order constructs of corporation entrepreneurship.Base on the above research questions and research design,the research methods of this paper are mainly including literature research,questionnaire survey and secondary data approach.Literature research provides a solid foundation for research questions and logic reasoning of hypotheses,questionnaire survey launched a detailed investigation and research of 678 companies nationwide,secondary data approach provides financial data of 1589 listed companies,this paper analyses relevant problems and data by building a research model and using Mplus,Stata,SPSS,finally draw conclusions as follows:Firstly,political strategy is helpful for entrepreneurship which promotes corporation’s creativity,initiatives and adventure.Knowledge acquisition is the key influence mechanism of political strategy on entrepreneurship,especially the tacit knowledge acquisition.Contingency factors of institutional environment are boundary conditions of knowledge acquisition(the action mechanism),in a good institutional environment,the mechanism of action of knowledge acquisition is increasingly significant,means that enterprises are more likely to acquire external knowledge through political strategy and thereby promoting entrepreneurship.In addition,the boundary conditions of institutional environment are especially prominent in non-state-owned enterprises and non-high-tech enterprises.Secondly,social burdens and strategic burdens have different effects on entrepreneurship,the former hinders entrepreneurship but the later promotes.In practical terms,in the relationship between social burdens and entrepreneurship,social burdens make sense to get government subsidies,but also make lower corporate profitability,therefore hinder the entrepreneurship.In the relationship between strategic burdens and entrepreneurship,enterprises undertaking strategic burdens doesn’t increase government subsidies,but it’s good for corporate profitability,further promote entrepreneurship.The mechanism of corporate profitability and government subsidies action has completely opposite effects in different types of policy burdens-entrepreneurship relationships.In addition,small corporation undertaking social burdens is especially damaging for entrepreneurship.Non-state-owned enterprises,small enterprises and enterprises with strong competitiveness are more likely to promote entrepreneurship when undertaking strategic burdens.Thirdly,the entrepreneurial behavior of a company can strengthen the willingness of managers to take risks.Especially when the tendency of the company to implement political strategy is more obvious,managers are more likely to form a higher willingness to take risks in the process of carrying out entrepreneurial activities.Fourthly,the higher the company’s real risk tolerance is,the less likely it will conduct entrepreneurship in the future,but policy burdens change this negative correlation which means that even higher company’s real risk tolerance reduce the likelihood of entrepreneurship,this relation can be reversed under the circumstance that company undertake policy burdens.High policy burdens make more entrepreneurial behaviors,because carrying out entrepreneurial behaviors is a critical path to eliminate redundancy and improve asset utilization.The innovations and contributions of this paper mainly include:(1)studying the influence of GER on corporate entrepreneurship from the perspective of the dual interactive,puts forward that political strategy and policy burdens are two core aspects of government-enterprise relationship,which breaks through the previous studies based on political connection or whether company executives have political appointments.(2)the research object is relatively comprehensive,not only carry out studies from the overall level but also compare property right character,company scale and competition force in group,which breaks through the limitation of previous relevant studies that focus more on state-owned enterprises.(3)in the relationship between political strategy and corporate entrepreneurship,this paper puts forward the function mechanism of knowledge acquisition according to knowledge-based view,which is an effective supplement to the previous resource-dependent theory and institutional theory.(4)in the relationship between policy burdens and corporate entrepreneurship,according to the government intervention theory and the soft budget constraint theory,this paper put forward the competitive mechanism of the corporate profitability and government subsidies,which enriches our cognition of the process that how do different types of policy burdens affect corporate entrepreneurship.(5)this paper divides corporate entrepreneurship into two dimensions from the low-level dimension of corporate entrepreneurship: entrepreneurial behavior and risk management,at the same time,constructs a circular relationship between them based on different measurement basis,defines the specific function mechanism which is a further expansion of relevant researches on corporate entrepreneurship. |
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