Make Use of the Difference of Failure and Exit to Improve the Operation Efficiency

As business failure is a high probability event that influences the operation efficiency of the entrepreneurial ecosystem, it is necessary to know how to manage business failure experience to promote serial entrepreneurship and improve circulation in the ecosystem. While most scholars agree that it is different between failure and exit, DeTienne suggests that exit could be a way to avoid failure and protect the passion and financial condition of entrepreneurs. Therefore, this chapter analyzes the difference of failure and exit and conducts a model to help entrepreneurs decide whether to exit and how to choose a better way to exit entrepreneurship. In the meantime, this chapter analyzes why entrepreneurial exit can improve the operation efficiency of entrepreneurial ecosystem, and also it would give some ideas about how to bound from failure and benefit from failure to do better next time. After reading this chapter, entrepreneurs have the idea that failure is controllable and exit may be a restart to do business more successfully.

Entrepreneurial Passion, Cognitive Bias, and Technology Commercialization of New Ventures

This chapter utilizes cognitive theory to explain how entrepreneurial passion influences the speed of new venture's technology commercialization and explore the roles of cognitive bias (illusion of control and risk propensity) played in this process. The results show that both entrepreneurial passion and cognitive bias positively impact on the speed of technology commercialization. The authors also find that illusion of control and risk propensity play a partial mediating role in the relationship between entrepreneurial passion and the speed of technology commercialization. This conclusion can make up for the gap of existing theoretical research.

Financial Industry Under Entrepreneurial Ecosystem

Due to the three functions of cost reduction, disintermediation, and information asymmetry, internet finance continues to impact the traditional banking business in the financial industry, posing a new competitive risk for commercial banks. In developing countries such as China, given the imperfect development of the financial market, the government needs to introduce a series of policies, but new policies will bring the risk of market uncertainty. Due to the double uncertainty of the market and the system in developing countries, commercial banks are caught between competitive and new policy risks. Therefore, exploring the impact of these two risks on the performance of commercial banks is very important to allow commercial banks to discern, resist, and respond to risks. This research uses the data of A-share listed banks for the past 10 years. Empirical research shows that internet finance and interest rate liberalization have a negative impact on bank performance. The liberalization of interest rates further increases the negative impact of internet finance on bank performance.

Research on Cross-Border Entrepreneurial Path of Core Enterprise Based on Ecological Advantage

In the business ecosystem, the core business niche is not occupied by a structural position; its objectives and strategies are easily dispersed, while the core business can't coordinate the business ecosystem elements. Therefore, the ecological advantages obtained by core enterprises in the process of self-organization evolution are not sustainable. To solve this problem, a possible way is to explore how core enterprises consolidate and form new ecological advantages from the perspective of cross-border business. However, the academic community has not discussed the evolution path of cross-border entrepreneurship in detail. For this reason, based on the perspective of ecological advantages, this chapter discusses the strategic path of cross-border entrepreneurship of core enterprises and constructs an interaction model between ecological advantages and core enterprises' cross-border entrepreneurial paths. The study broadens the understanding of the relationship between corporate strategies and business ecosystems, then provides theoretical value for subsequent research.

Research on the Operation Efficiency of Science and Technology Innovation Incubator Under Different Leading Modes

The incubator of scientific and technological innovation plays an important role in leading scientific and technological innovation, accelerating the transformation of scientific and technological achievements, and promoting industrial upgrading and transformation. The Chinese economy is in the transition stage, so the research on the operating efficiency of the incubator of scientific and technological innovation based on the Chinese context has its unique value. In this study, combined with Chinese context, the business incubator is divided into two main modes: government and private. By using DEA research method, this chapter analyzes a series of problems, such as the overall difference and difference grade of the operating efficiency of incubators among the four major economic zones of China, the comparison of the operating efficiency of different modes between Northeast and Western regions, and the gap between private-led incubators in eastern China and private-led incubators in Northeast and Western China.

The Role of Entrepreneurs in the Entrepreneurial Ecosystem

This chapter introduces entrepreneurial self-efficacy, a psychological cognitive factor, into the context of entrepreneurship, trying to sort out the internal mechanism of entrepreneurial self-efficacy, dual entrepreneurial learning, and entrepreneurial performance and construct a theoretical model. The hypothesis is that entrepreneurial self-efficacy has a positive effect on both dual entrepreneurial learning and new venture performance. Dual entrepreneurial learning has a positive impact on the performance of new ventures and acts as a mediator between entrepreneurial self-efficacy and entrepreneurial performance. The empirical results show that entrepreneurial self-efficacy can promote exploratory entrepreneurial learning and the improvement of new venture performance. Exploratory entrepreneurial learning plays a mediating role in the effect of entrepreneurial self-efficacy on the performance of start-ups, while entrepreneurial learning can't play a mediating role in the process of exploitative entrepreneurial learning.

Innovation or Imitation in New Ventures?

The authors examine the effects of innovation and imitation strategies on new venture competitive advantage during both technological and market turbulence. In turn, they test the moderating effects of dysfunctional competition in these settings. Using data collected from 153 new ventures in China, they find that innovation and imitation strategies have positive effects on new venture competitive advantage. Furthermore, they find that dysfunctional competition increases the positive relationship between imitation strategies and new venture competitive advantage in these settings. However, the negative moderating effects of dysfunctional competition are partly verified. And they find that the consumption attitudes of the younger generation in China may explain why the theory is inconsistent with the empirical results. The theoretical and practical implications of the findings are discussed.

Review of Classical Intention-Based Entrepreneurial Models and Construction of Framework From Combined Perspectives of Entrepreneurial Motivation

An extraordinary proliferation of entrepreneurship education programs has been underway in recent years. One of key purposes of entrepreneurship education is to foster entrepreneurial intention. So how to predict and interpret the process of entrepreneurial intention becomes a dominant topic in academia. Under related entrepreneurial and psychological theories, reasoning and reviewing related classical entrepreneurial intention models, this chapter analyzes the influencing factors and interacting effects and proposes a path-model of entrepreneurial intentions from combined perspectives of entrepreneurial motivation and cognition in order to reveal the underlying psychological mechanism of entrepreneurial intention. The chapter hopes to have added richness to ongoing further researches among academics and discussions among educators and policymakers regarding the importance of entrepreneurial intention in entrepreneurial education.

The Regional Evaluation on the Vitality of the Entrepreneurial Ecosystem in China

With the development of business ecosystems and the depth of entrepreneurship research, the research based on the ecosystem has been popular. The theory of entrepreneurial ecosystem provides an overall perspective for the research of entrepreneurial activity. However, how to measure the system vitality still remains an unsolved problem. This study chooses diversity, density, and connectivity as the dynamic characteristics to construct the assessment index system of a regional entrepreneurship system. The study also takes the old industrial bases in Northeast China, Liaoning Province as an object. It calculates the vitality score and puts forward some targeted suggestions for improving the vitality of entrepreneurial ecosystems in Liaoning Province.

Sustainable Entrepreneurship Guided by Policy Support in a Transitional Economy

For countries in the process of economic transition, improvement of industrialization is no longer the sole goal of their economic development. While upgrading the level of industrial development, these countries also gradually attach importance to resource utilization efficiency and environmental protection, which is why sustainable entrepreneurship has become increasingly popular in recent years. With the intensification of policy guidance, a new “sea area” named sustainable entrepreneurship ushers in more and more “treasure hunters” exploring “the treasure” therein. Based on this, this chapter constructs the model of “Green Ocean Treasure Hunting” for green entrepreneurial enterprises to analyze the role played by their government's relevant policies and puts forward the research proposition of this chapter based on the relevant literature. On this basis, this chapter chooses and analyzes a medium-sized, high-tech enterprise in China that follows a certain typical green entrepreneurial process as evidence of the propositions the authors have put forward.