文献类型：期刊文献

中文题名：创业者缘何退出：制度环境视角的研究

英文题名：Why Do Entrepreneurs Exit? An Empirical Study Basedon the Institutional Perspective

作者：贺小刚[1];朱丽娜[2];吕斐斐[3];贾植涵[1]

机构：[1]上海财经大学商学院;[2]华东理工大学商学院;[3]上海大学悉尼工商学院

年份：2019

卷号：22

期号：5

起止页码：101

中文期刊名：南开管理评论

外文期刊名：Nankai Business Review

收录：CSTPCD;;国家哲学社会科学学术期刊数据库;北大核心:【北大核心2017】；CSSCI:【CSSCI2019_2020】；

基金：国家自然科学基金项目（71672105、71972121）;上海财经大学创新团队支持计划（2016110394）资助

语种：中文

中文关键词：创业者;创业退出动机;制度环境;网络传导效应

外文关键词：Entrepreneur;Entrepreneurial Exit;Institutional Environment;Mediate Effect of Network

摘要：本文基于Williamson的制度理论,将制度环境细分为腐败交易、产权空隙与政府管制三个层面,试图探讨不同维度的制度环境将如何影响新创企业创业者的退出动机这一重要学术问题,并将创业者的网络关系引入创业退出的理论模型中,分析其在制度环境与创业退出之间的中介传导效应。基于调研数据,本文主要得到以下结论 :(1)制度环境对创业退出产生了明显影响,尤其是在腐败交易和产权空隙情境下,创业者退出经营的动机更为强烈。(2)创业者的网络关系在制度环境与创业退出之间发挥了中介传导效应。第一,腐败交易环境和产权空隙会促使创业者开拓新的陌生人网络关系,而产权空隙则会促使创业者更多地利用熟人关系;第二,网络关系在制度环境和创业退出之间有显著的中介传导作用,腐败交易环境促使创始人开发新的陌生人网络关系,但高昂的新伙伴交易成本导致创业者倾向退出经营活动。本研究将制度环境纳入创业成长理论模型,从制度环境的三个维度探讨创业者缘何退出,为创业研究提供了新的研究视角;本文还探讨了网络关系建立与利用的中介效应,进一步丰富了创业退出的研究成果。
Entrepreneurship is affected by the institutional environment, but how the different levels of institutional environment influence entrepreneurial exit are still a question needs to be further explored. Based on the institutional hierarchy theory of Williamson and other relevant social system theories, this paper divides the institutional environment into three levels: corruption transaction, property right voids and government regulation. Combined with the survey data in China, we draw the main conclusions as follows: First, the institutional environment has a significant impact on entrepreneurial exit. In particular, corruption transaction and voids of property rights increase the entrepreneurs’ motivation to sell the enterprises or close the business, which means that the higher corruption transactions and weaker property rights, the less continuation of entrepreneurship. Second, the founders’ networks play an important mediation role, which means that entrepreneurs will choose different networks under different institutional environment. Meanwhile, there are different costs and benefits within different networks which will lead to different effects on the entrepreneurial exit. Different institutional environments will urge entrepreneurs to choose between using existing acquaintance networks and exploring new stranger networks, which will have a differentiated impact on entrepreneurs’ exit decisions. The corruption transaction environment prompts the founder to develop the new stranger network relations, but the high new partner transaction cost causes the entrepreneur to tend to withdraw from the business activity. The gap between property rights reduces the founders’ motivation to develop new stranger networks and increases their motivation to take advantage of existing acquaintances, while the low transaction costs between acquaintances reduce the incentive for entrepreneurs to quit. This study brings the institutional environment into the theoretical model of entrepreneurial growth, and probes into the important academic issue of why entrepreneurs quit from the three levels of institutional environment, which provides a new research perspective for entrepreneurship research. On the other hand, this paper also discusses the intermediary effect of the establishment and utilization of network relationship, which further enriches the research results of entrepreneurial exit.