Research On The Impact Of Entrepreneurial Spirit On Corporate Performance Under The Perspective Of Innovation

With the increasing attention given to entrepreneurs by the state,the concept of entrepreneurial spirit has also been widely discussed by the society,especially in relation to business performance.Business performance is an important indicator for assessing the level of business development.The role and how to play a role of the entrepreneurial spirit in relation to business performance have been hotly debated by scholars in recent years.As the core "soft power" of a business,entrepreneurial spirit is a crucial weapon for businesses to maintain their competitive advantage in the complex and changing market environment.Many scholars have studied the relationship between the entrepreneurial spirit and business performance from various dimensions,such as the personal and organizational level of entrepreneurial spirit,and the conclusion has been reached that the entrepreneurial spirit will have an impact on business performance and how it will be impacted.Meanwhile,with the strong support and encouragement of innovation in our country and the introduction of many relevant policies,this concept has also attracted widespread attention from our society.If a business wants to continue to develop in the constantly changing internal and external environment,it must continuously innovate.Based on a review of previous literature on the relationship between entrepreneurial spirit and business performance,this study introduces corporate innovation as a mediating variable to further examine their interdependence.By incorporating entrepreneurial spirit,corporate innovation,and business performance into the same research framework and using a mediating effect model,regression analysis is applied to Chinese A-share listed companies’ data from 2016 to 2020 to identify their relationship.The study concludes that: first,entrepreneurial spirit can promote corporate innovation and enhance business performance;second,corporate innovation plays a partial mediating role in the relationship between entrepreneurial spirit and business performance,where entrepreneurial spirit indirectly improves business performance through corporate innovation;third,corporate innovation’s mediating role exists in non-state-owned enterprises but not in state-owned enterprises;fourth,corporate innovation’s mediating role exists in both manufacturing and non-manufacturing enterprises,and in cities with high and low levels of marketization.This study enriches the related literature and provides new ideas for company managers to enhance business performance.