The Research On The Impact Of Entrepreneurial Passion On Entrepreneurial Opportunity Identification

The economy development of China has currently entered the "new normal"The development of economy focus on the quality of economic rather than the growth rate,and economic structure needs further optimization,which contains a lot of venture opportunities.In order to promote the innovation and entrepreneurship,the government issued the corresponding incentive policy and constantly improve the venture environment,which stimulated the entrepreneurs took part in the entrepreneurial activity with more passion,the number of registered venture enterprises increased significantly.However,there are some problems that cannot be ignored while the entrepreneurial activity is making progress.The survival rate of China's new enterprises is still low,and the failure rate of startups is more than 90%.Therefore,it is urgent to clarify in theory that how to better identify and develop the opportunity of entrepreneurship,so as to enable the entrepreneurs with passion to succeed in entrepreneurship,which not only have theoretical significance but also have practical value.Based on the above background,this study attempts to study the influence and mechanism of entrepreneurial passion on entrepreneurs to identify entrepreneurial opportunities.This study firstly summarizes relevant theories and literatures of entrepreneurial passion,cognitive bias and entrepreneurial opportunity identification,and makes a distinction and definition of relevant variables.In this paper,the relationship between variables is determined through logical analysis and theoretical guidance,and the research hypotheses of this research are presented and the research model of this paper is established.Secondly,based on the domestic and foreign maturity scale and the situation of this study,a questionnaire was designed and a small sample was surveyed.According to the feedback of pre-survey,the questionnaire was further optimized,and a large sample was conducted subsequently.In this study,300 questionnaires were distributed through offline and online methods,and 270 questionnaires were collected,including 247 valid questionnaires.In order to check whether the data meet the requirement of data analysis,this paper tested the homology variance,the reliability and validity analysis on the sample data.And secondly,text the research model through the test in the hierarchical regression analysis method,the analysis conclusion is as follows:?.Entrepreneurial passion has a u-shaped effect on entrepreneurial opportunities,and too high or too low passion is not conducive to entrepreneurial opportunity identification.?.Overconfidence and control illusion are significantly negatively correlated with entrepreneurial opportunities,and the quality of recognition opportunities can be adversely affected by the high levels of overconfidence or illusion of control.?.Entrepreneurial passion has a u-shaped effect on overconfidence and control illusion.Overconfidence and control illusion influence the relationship between entrepreneurial passion and entrepreneurial opportunity identification as an intermediary role.Too high or too low entrepreneurial passion can lead to an increase in overconfidence and illusion of control,which can be detrimental to entrepreneurs' recognition of entrepreneurial opportunities.When the entrepreneurial level of entrepreneurship is moderate,the level of cognitive bias is low,and it is helpful for entrepreneurs to identify entrepreneurial opportunities.Through summarizing the result of the above analysis,this study found that a suitable amount of entrepreneurial passion helps entrepreneurs to identify entrepreneurial opportunities,when the passion too low or too high,will produce relatively strong cognitive biases,thus indirectly influence identifying entrepreneurial opportunities for entrepreneurs.Therefore,entrepreneurs should learn to regulate their passion and maintain a moderate level of passion,thus helping to identify entrepreneurial opportunities.Aiming at the conclusion of this paper,this paper brings forward a number of strategies for passion management,and hopes to provide guidance for entrepreneurs to adjust their entrepreneurial passion.In the end,this paper points out limitations of the research,and points out a number of future directions.