Research On The Path Selection Mechanism Of International Entrepreneurship From The Perspective Of Institutional Distance

With the continuous strengthening of political exchanges among states,the continuous reduction of trade barriers,the deepening of global economization,the rapid development of multinational and global enterprises,and the field of international entrepreneurship is becoming a research focus.International entrepreneurial activities are largely affected by the institutional environment,especially laws and regulations,industry traditions,and regional customs.Therefore,the institutional environment differences between the home and host countries will hinder or promote enterprise entrepreneurial activities to a certain extent,thereby affecting their international entrepreneurial performance,while the rapid development of Internet information technology and high-level changes continue to require companies to adopt reasonable entrepreneurial paths and models in international entrepreneurial activities.First,sorting out the relevant literature in the fields of institutional distance,international entrepreneurship,and international entrepreneurial path selection.It was found that the existing literature did not conduct a thorough and detailed analysis of which entrepreneurial path companies choose due to differences in institutional environments,and at the same time did not clarify the institutional distance.The mechanism and relationship of international entrepreneurship path and international entrepreneurship performance.Comprehensive predecessor research defines the institutional distance,international entrepreneurship path and international entrepreneurship performance respectively,divides the institutional distance into formal system distance and informal system distance,reflects the choice of international entrepreneurship path from the decision-making of entry time,entry mode and entry field,and reflects the effect of international entrepreneurship path selection with the overseas business performance of international entrepreneurial enterprises.Further integrate institutional theory,social network theory,entrepreneurial orientation theory,and resource-based theories to form a theoretical research framework,and propose three hypotheses that institutional distance affects the choice of international entrepreneurial paths,and the relationship between redundant resources between institutional distance and international entrepreneurial paths The moderating effect and the path of international entrepreneurship have the hypothesis that the institutional distance affects the performance of international entrepreneurship.Secondly,construct the moderating effect model and the intermediary model,and use the sample of 2,459 overseas subsidiaries that Chinese industrial listed companies invested in the host country for the first time in 2006-2019 and the sample of 161 overseas subsidiaries of Chinese industrial listed companies in 2016-2019 to test separately.The impact on the timing of entry and its entrepreneurial performance and the impact of institutional distance on entry mode,field of entry and entrepreneurial performance.The research results show that:(1)The farther the formal institutional distance,the earlier the entry opportunity,and the farther the informal institution distance,the entry The later the time is;the farther the formal institutional distance is,the way of investment tends to be;the farther the informal institution distance is,the preference is to adopt merger;the longer the formal institution distance,the more inclined to the tertiary industry,and the greater the informal institutional distance,the more inclined to the secondary industry.(2)Redundant resources have a positive moderating effect on the path of formal institutional distance affecting entrepreneurship,while there is no moderating effect on the path of informal institutional distance affecting entrepreneurial path.(3)Formal institutional distance does not have any direct impact on overseas entrepreneurship performance.Informal institutional distance has a significant positive overall effect on the overseas entrepreneurship performance of enterprises,and entry timing and entry mode are shown as intermediary effects in the process.The domain manifests itself as a masking effect.Finally,according to the study concluded,it provides relevant enlightenment for Chinese enterprises to engage in international entrepreneurial activities from the three dimensions of government,entrepreneurial enterprises,and entrepreneurial decision-makers,and summarizes and condenses the deficiencies in the research,and proposes future research directions.