Executive Control Rights,Business Environment And Entrepreneurship

Entrepreneurship is the embodiment of the strategic ability of senior managers in the context of internal enterprises,which is closely related to the internal and external environment of corporate governance.The distribution of power is an important factor that affects the allocation of resources within the company and the distribution of interests among the governing bodies.As the main body of power to make and implement strategic decisions,entrepreneurship is the key human capital of executives.To ensure that these executives with entrepreneurship have control rights is very important for the stimulation and cultivation of entrepreneurship.In addition,business environment is also an important factor affecting the cultivation and development of entrepreneurship.A good business environment can guide the allocation of entrepreneurship in innovation,entrepreneurship and other productive activities.Based on this,this paper takes 2010-2018 A-share listed companies as the research object.This paper discusses the influence of executive control on entrepreneurship and the influence of business environment which constructed by the level of rule of law,administrative intervention and market environment on entrepreneurship and its regulatory effect on executive control and entrepreneurship.The regulatory effect of interaction of three dimensions of business environment on executive control and entrepreneurship is further explored.The finding are as follows:(1)Executive control rights,rule of law and market competition has a significant positive impact on the play of entrepreneurship.But the positive relation between administrative intervention and entrepreneurship is not significant.(2)The positive relation between executive control rights and entrepreneurship is more significant in better rule of law district,or higher administrative intervention district or higher market competition district.(3)This paper also examines the regulatory effect of the interaction of business environment on executive control and entrepreneurship.The positive relation between executive control rights and entrepreneurship is more significant in higher administrative intervention and better rule of law district or in higher administrative intervention and higher market competition district or in higher administrative intervention and better rule of law and higher market competition.But the incentive effect of executive control and entrepreneurship is not significant in higher market competition and higher rule of lawdistrict.The research findings of this paper not only enrich the incentive theory of entrepreneurship and supplement the existing literature on the driving factors of entrepreneurship from theoretical level,but also provide suggestions for building a business environment for cultivating entrepreneurship,and provide a reference for the arrangement of corporate control rights.