Analysis Of Factors Affecting Different Types Of Failure Of SMEs Based On Resource View

SMEs are of great significance to the national business environment,national employment,and GDP growth,but they also have the feature of "high mortality".Therefore,research on the failure of SMEs is of practical significance.In the past,scholars' research on corporate failures was generally analyzed from the enterprise level.The definition of failed companies revolved around the poorly performing business failures.The definition of failures ignores another type of situation – some companies perform well.However,entrepreneurs still choose to take the initiative to suspend business and explain it from theories of difference theory and entrepreneur satisfaction.When there is a gapbetween business conditions and entrepreneurial expectations,entrepreneurs suspend business operations because personal satisfaction is reduced.This is based on the failure performance of entrepreneurs at the individual level.Nabil Khelil(2016)defines it as Entrepreneurial Emotional Failure,and few studies currently analyze failures at the entrepreneurial level.Xia Lu(2012)pointed out that corporate resources are an important factor directly affecting the level of enterprise development and growth.The scarcity of key resources is the main cause of the strategic failure of SMEs.Therefore,from the perspective of resources,it is possible to explain the problem of corporate failure to some extent.To sum up,the main issues studied in this paper are the relationship between corporate resources and the two types of failures of SMEs: operational failure and entrepreneurial emotional failure.The delisting and delisting of the NEEQ enterprise can be regarded as a failure of the companys.On the form of delisting,the passive delisting can be regarded as the above-mentioned operational failure at the enterprise level,and the active delisting can be regarded as the aforementioned entrepreneurial level.The Entrepreneurs emotional failures failed,so the delisting of the New Third Board opened the window for the study of this article.This paper selects the sample that meets the scope of the failure defined in this paper from the new three board delisting companies in 2017.From the perspective of the three types of enterprise resources,the impact relationship between resources and the failures of the two types of enterprises is analyzed using the Logit regression method.The results show that:(1)In terms of corporate human resources structure,there is a significant correlation between the employee's functional structure and education structure and the type of failure of SMEs: the higher the proportion of technology and management personnel,the more likely the type of enterprise failure to fail in entrepreneurial emotions;The higher the proportion of employees,the more likely the type of business failure is to fail.(2)In terms of corporate financial resources,the per capita fixed assets and dependent variables are not significantly related,and the asset-liability ratio is significantly correlated with the dependent variable.The results show that the higher the debt-to-liability ratio,the more likely the type of failure is operational failure.The lower the value,the more likely it is for entrepreneurs to fail emotionally.(3)In terms of corporate social resources,there is no obvious correlation between entrepreneurial market-oriented social capital and dependent variables,but there is a significant correlation between entrepreneurial political associations and corporate failure types.Failure shows that under the current political and economic environment,institutional social capital has a more significant effect on the operation of SMEs.