| Since the 18th CPC congress,the government has proposed to the strategies of taking the road of self-development innovation with Chinese characters and implementing innovation-driven development,promoting popular entrepreneurship and innovation.One the one hand,it is acknowledged that entrepreneurship and innovation can not be separated from the initiatives of entrepreneurs,which come from the individual characters of entrepreneurs.In the meanwhile,entrepreneurs’individual characters will influence the formation of entrepreneurial intention.On the other hand,the existing formal and informal institutional environment will also affect the formation process of entrepreneurial intention.At present,all the countries have been aware of the importance of entrepreneurship and innovation,which can truly play a vital role on their competitive edges and economic progress.However,due to the differences in political systems and development,the gaps of formal and informal institutional environment among different countries remain on the simulative effect on domestic entrepreneurs’ entrepreneurial intentions.There are a few entrepreneurial characters affecting the formation of entrepreneurial intentions,such as entrepreneur endowment,achievement motivation and fuzzy tolerance.For potential entrepreneurs,they emphasize perceived capabilities and fear of failure on the cognitive aspect,which distinguish them with habitual entrepreneurs.Hence,this paper attempts to explore how the perceived capabilities and fear of failure of potential entrepreneurs affect their entrepreneurial intention in an individual aspect.Furthermore,formal and informal institutional environment are elementary factors that influence the formation of entrepreneurial intention.Stenholm et al.(2013)argued that these environmental factors can be divided into four dimensions including regulative,normative,cognitive and conducive,which influence the relationship among perceived capabilities,fear of failure and entrepreneurial intention in a complicated way.Thus,this paper tries to explore the internal mechanism of the relationship.Based on the questions above and utilized the data from Global Entrepreneurship Monitor,this paper firstly analyzes the relationship among perceived capabilities,fear of failure and entrepreneurial intention in an individual aspect.Then,we explore the moderating effect on the relationship above.Through the empirical test,we find perceived capabilities have a positive impact on entrepreneurial intention and fear of failure has a negative impact.The regulative environment has a reinforcement interaction with the relationship between perceived capabilities and entrepreneurial intention.The normative environment has an interference interaction with the relationship between fear of failure and entrepreneurial intention.The conducive environment has a reinforcement interaction with the relationship between perceived capabilities and entrepreneurial intention.In this paper,we classify the entrepreneurs according to their entrepreneurial experience,explore the formation of the entrepreneurial intention of potential entrepreneurs in a cognitive perspective,providing a novel viewpoint for our nations to inspire the entrepreneurial vitality of talents.Moreover,we combine entrepreneurship with institutional economics,introduce the National System of Entrepreneurship to the research of entrepreneurial intention and then compare the strengths and weakness of different countries,provide a theoretical basis of decision making for our nations on constructing suitable entrepreneurial eco-system,formulating reasonable entrepreneurial polices,stimulating potential entrepreneurs and enhancing the ratio of entrepreneurship and output. |
