Research On The Impact Of New Generation Private Entrepreneurs' Social Capital On The Enterprise Innovation Performance

Private enterprises are the mainstay of China's economy.They have been struggling to develop innovation has become an important strategic measure for private enterprises to break through the predicament.With the retirement of old entrepreneurs,new generation of private entrepreneurs have led private enterprises to carry out innovative activities.in the face of fierce market competition,new generation of private entrepreneurs lack experience,so they need to rely on a large number of resources to get rid of the embarrassment of enterprises' resources and achieve innovation.Scholars believe that social capital is an effective way for enterprises to obtain resources,especially for private enterprises,the social capital of enterprises can be represented by the entrepreneurs' social capital,which is beneficial for enterprise innovation.However,after the acquisition of resources,how to use resources and make the best use of them,enterprises have turned their focus to strategic flexibility.At present,scholars have studied the impact of social capital on the innovation performance of enterprises,but there are still differences on the conclusions of the relationship between the two variables,while there is little research on impact of the the new generation of private entrepreneurs' social capital on the innovation performance of enterprises.In addition,how the resources acquired by entrepreneurial social capital can be placed through strategic flexibility,and the high return on the innovation activities of enterprises is still to be further studied.Therefore,based on the analysis of the existing theoretical research results,this paper takes the new generation of private entrepreneurs as the research object,combined with social capital theory,resource-based theory,dynamic capability theory,innovation theory and field research,according to the logic of �acquisition resource-utilization of resources-achieve performance�,proposes the hypothesis of the relationship between the social capital of new generation private entrepreneurs and the innovation performance of enterprises.On this basis,constructs a theoretical model which based on the mature scales,field interviews and consulting experts.This paper's formal scale has been completed according to the scale test forming,377 valid questionnaires are taken as the sample of this study.The structural equation model is used to analyze the data with SPSS 19.0 and AMOS 21.0 software.The conclusions of this paper are drawn.The main conclusions of this paper are as follows:(1)New generation private entrepreneur relationship,cognitive social capital have significant positive impact on the innovation performance of enterprises,while structural social capital has a significant negative impact on the innovation performance of enterprises;(2)Cognitive and structural social capital of the new generation of private entrepreneurs have a positive impact on strategic flexibility.Relational social capital has a positive impact on resource flexibility,while the positive impact on capacity flexibility is not significant;(3)Strategic flexibility have a significant positive impact on innovation performance;(4)Resource flexibility plays a partial intermediary role between cognitive,relational social capital and innovation performance.Capability flexibility plays a partial intermediary role between cognitive social capital and innovation performance,but it does not play a intermediary role between relational social capital and innovation performance.Strategic flexibility has a hidden effect between structural social capital and innovation performance.Through detailed explanation of the empirical results,based on the level of the new generation of private entrepreneurs,this paper put forward suggestions on how to use entrepreneurs' social capital,enhance the strategic flexibility of enterprises to improve the innovation performance of enterprises.This paper prospects for the future due to the limitations.