The Influence Of Cognitive Bias On Novice Entrepreneurs' Resources Integration Behavior

Under the background of "encouraging people to start their own business and to make innovation”,more and more novice entrepreneurs,who do not have any entrepreneurial experience of new start-ups,decide to become a member of entrepreneur group.Novice entrepreneurs need to overcome the "new entry defects"through the resources integration.Therefore,how to integrate new resources is becoming a hot issue for entrepreneurs and academics.On the one hand,the lack of resources and experience make the resource integration behavior of novice entrepreneurs different from that of expert entrepreneurs.However,previous researches on resource integration mostly focus on entrepreneurial experts or mature enterprises,and lack of research on the resources integration behavior of novice entrepreneurs.On the other hand,entrepreneurs' cognitive differences can have an impact on their resource integration behavior.Due to the lack of relevant experience and ability,novice entrepreneurs show more cognitive bias than entrepreneurs,such cognitive bias will enable novice entrepreneurs to show different characteristics of resource integration behavior.Therefore,it is an important research perspective to analyze the logic behind novice entrepreneurs' resource integration behavior from the perspective of cognitive bias.However,the existing research lacks the deep exploration and excavation of the influencing mechanism and impact path in exploring the effect of cognitive bias on entrepreneurial behavior.Based on this,this article analyzes the resource integration behavior of novice entrepreneurs from a cognitive perspective.Specifically,this article studies:(1)the resource integration behavior of novice entrepreneur;(2)the effect of effectuation/causation decision logic on the resources integration of novice entrepreneurs;(3)the mediating effect of effectuation/causation decision logic on cognitive bias and novice entrepreneurs' resource integration behavior.Through the factor analysis,correlation analysis and regression analysis of effective questionnaire data from 380 novice entrepreneurs,the study found that:(1)novice entrepreneurs' resource integration behavior include bricolage and bootstrapping two dimensions;(2)overconfidence and the illusion of control had a significant positive impact on bricolage,and the illusion of control had a significant positive impact on bootstrapping;(3)effectuation/causation plays an intermediary role in overconfidence and bricolage,and in the illusion of control and bricolage;(4)effectuation and causation both play an intermediary role between the control of illusion and bootstrapping behavior.This article not only enriches the two areas of research on social cognition and effectuation,but also has some guiding significance for the entrepreneurship practice of novice entrepreneurs to integrate resources.It(1)studies the resource integration behavior of novice entrepreneurs,enriching the research object of resource integration behavior;(2)analyzes the influence of two common cognitive biases(overconfidence and control illusion)on the resources integration behavior(bricolage and bootstrapping)of novice entrepreneurs,and reveals the different effect mechanism of cognitive bias on the novice entrepreneurs' resource integration behavior,and thereby expanding in the research of entrepreneurial cognition;(3)explores the intermediary role between effectuation and causation in cognitive bias and novice entrepreneurs' resource integration behavior,and reveals the different influence path of these two cognitive biases on novice entrepreneurs' resource integration behavior.(4)This article also provide theoretical guidance for the novice,a special and extensive entrepreneurial group,to effectively integrate resources.