The Effect Of Founder Control Power And Management Participation On Strategic Adaption Of Acadamic Entrepreneurship

Technological changes and industrial changes triggers innovation,and entrepreneurship is the concrete means to realize innovation.As a result,innovation and entrepreneurship become the focus of global economic.Further,the importance of science-based entrepreneurship represented by university professors is increasingly prominent.At present,China's economy has entered the new norm,and digestive absorption of import technology hasn't met the needs of innovation.The birth of new industries requires more independent original technology and entrepreneurship based on science.The government has implemented relavant policies to encourage technical personnel from universities and institutes to start a business,so academic entrepreneurship has become a national policy.Academic entrepreneurship interacts deeper and more efficiently in the three levels of science,technology and industry,which is highly regarded in our innovation and entrepreneurship system.It will promote the progress of China's industrial structure and the economic development.According to the life cycle model,academic enterprises can be divided into a two-stage growth model.At the startup stage,academic entrepreneurs pay attention to opportunity identification and entrepreneurial commitment.But at the growth stage,the focus of academic enterprises changes from survival to development,and the responsibility of academic entrepreneurs changes from technical R&D to decisions on investmeng,competition,acquisition and so on.Based on the resources support of academic entrepreneurs,such as technology,knowledge and funds,academic enterprises can pass through the startup stage.But it's hard to pass through the growth stage because of the limitation of their academic background and homogeneity resources.Therefore,it's necessary to study the development of academic enterprises at the growth stage in the market.As an organization's ability to respond to the uncertainty of the environment,strategic adaption is important to the development of the enterprise.In academic enterprises,in addition to providing technology and knowledge,founders also actually control enterprises,and most of them participate in management.To balance the technological development and the business environment of the enterprises,founders have an important influence on strategic adaption of the enterprises.The new OTC market is the platform for development of innovative,entrepreneurial and growing SMEs,and it's an important source for acquiring samples of academic enterprises at the growth stage.Therefore,this thesis takes the New OTC Market listed companies which listed before 2015 as the samples,and analyses the influence of the special identity of founder in governance structure on venture strategic adaption.After collecting the data of organizational actions of these samples from 2015 to 2016,this thesis tries to find out the impact of founder control power and management participation on venture strategic adaption.The results showed that: the control power of academic entrepreneurship's founder had a negative relationship with venture strategic adaption,but the management participation of academic entrepreneurship's founder didn't have a significant relationship with venture strategic adaption.Further more,if there was a principal-agent structure in academic entrepreneurship,the relationship between of founder's control power and venture strategic adaption was not significant.Because of the emergence of heterogeneous structure,enterprises tend to adopt more opportunities strategies.