The Impact Of Entrepreneurial Intuition On Effectuation Based On The Moderating Effect Of Innovativeness Of Opportunity

Decision-making plays a key role for new ventures' emergency and sustainable development.Professor Sarasvathy put forward effectuation theory which emphasizes control instead of prediction to guide entrepreneurs reshape new environment and markets when facing resource scarcity and environmental uncertainty.Currently,limited research on antecedents of effectuation focus on entrepreneurial experience and expertise.This paper introduces entrepreneurial intuition into the study of effectuation which explores the interactive effect of entrepreneurial intuition and entrepreneurial opportunity on effectuation based on social cognitive theory.This paper offers some empirical findings by using multiple linear regression and logistics regression methods,based on the first two rounds of survey data from China Panel Study of Entrepreneurial dynamics.Firstly,entrepreneurial intuition has a positive effect on means-driven action dimension,affordable loss dimension and leveraging contingencies dimension of effectuation,while entrepreneurial intuition has a negative effect on partnerships dimension.Secondly,when the innovativeness of opportunity is high,the positive relationship between entrepreneurial intuition and leveraging contingencies dimension of effectuation will be strengthened,while the positive relationship between entrepreneurial intuition and means-driven action dimension will be weakened.In addition,the degree of opportunity innovativeness has no obvious effect on the correlation mechanism between entrepreneurial intuition and affordable loss dimension or partnerships dimension.On the one hand,this paper contributions to enrich the research about the effect of entrepreneurial cognition on entrepreneurial decision-making and make a beneficial supplement to the research on the back-end mechanism of entrepreneurial intuition.On the other hand,this paper can guide entrepreneurs to make decisions more effectively and provide suggestions for the government or business incubator to carry out entrepreneurial support activities.