The impacts of external factors on the growth of Chinese entrepreneurial enterprises

Yanfeng Zhang · SI Chun-lin

28 citations0/0 files storedJournal of Small Business and Enterprise Development

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Entrepreneurship Studies and Influences Firm Innovation and Growth Private Equity and Venture Capital

Abstract

Purpose The purpose of this paper is to explore the key external factors that are impacting on the performance of Chinese entrepreneurial enterprise (EE). Design/methodology/approach A linear regression model was developed that comprised three types of organisations(government, university and R&D institute, agency, financial institution) and three kinds of environmental factors(legal and institutional environment, culture, geographic location) which greatly influence Chinese venture enterprises growth. The model was validated using 91 responses obtained through a questionnaire survey carried out in Shanghai, Zhejiang, Jiangsu and Fujian Province of China. Findings Evidence suggests that a fine relationship with a financial organisation positively impacts on the growth of EEs and a close relationship with government shows a disadvantageous impact on the EE's growth. The significant influence of environmental factors appeared to come from entrepreneurial culture and atmosphere. Practical implications The findings suggest that Chinese EEs need more favorable financial support. And they also need to have more entrepreneurial learning in a good entrepreneurial culture and atmosphere. Chinese governmental departments should adjust their strategy and means to motivate EEs, not only to give them favourable policy and support but also to improve their competitive power. Originality/value The paper highlights the external factors which can significantly affect the growth of Chinese EEs and is, therefore, of practical use for Chinese EEs and support agencies in China. The analysis also offers a more comprehensive understanding about Chinese EEs' development context.

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References

1995Managing Legitimacy: Strategic and Institutional Approaches 1996Clarifying the Entrepreneurial Orientation Construct and Linking It To Performance 1962The Economic Implications of Learning by Doing 1971The Economic Implications of Learning by Doing 2000STRATEGY IN EMERGING ECONOMIES.1991On the nature, function and composition of technological systems 2001The Geography of Investment: Informed Trading and Asset Prices 2001Syndication Networks and the Spatial Distribution of Venture Capital Investments

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