Abstract
This paper selects 93 high-tech enterprises listed in 2019 in China’s A-share market and comprehensively integrates six variables on three levels, namely, internal guarantee, internal incentives, and external institutions, through fuzzy-set qualitative comparative analysis (fsQCA). On this basis, a discussion was conducted about the multiple concurrent factors and various paths stimulating entrepreneurship. The results show that (1) a single factor does not necessarily lead to high entrepreneurship; (2) high entrepreneurship could be stimulated by four paths: driving mechanism with salary incentive as the core and market mechanism as the support, driving mechanism with government intervention and market mechanism as synergistic drivers, driving mechanism with equity and control power as dual drivers under external institutions, and driving mechanism with external institutions and internal incentives as joint drivers; (3) market competition plays an indispensable role in stimulating entrepreneurship, while management capability suppresses entrepreneurship; (4) nonhigh entrepreneurship could be generated by five paths, which are asymmetric relative to the configurations of high entrepreneurship.
Highlights
Recent decades have witnessed the burgeoning of Internet technology and related industries
Internal guarantee, internal incentives, and external institutions are refined into six factors for deep consideration: management capability, control power incentive, equity incentive, salary incentive, government intervention, and market competition. en, a qualitative comparative analysis was carried out to comprehensively analyze the relationship between the multiple paths of the six antecedent factors and entrepreneurship, aiming to find the optimal element combination that stimulates entrepreneurship. is research attempts to answer the following questions: what are the paths that stimulate entrepreneurship of high-tech enterprises? Which paths can stimulate a high level of entrepreneurship? Which paths can suppress entrepreneurship?
With the aid of fuzzy-set qualitative comparative analysis (fsQCA), this paper summarizes six factors on three levels, namely, management capability, internal incentives, and external institutions, and tries to look for effective paths that stimulate the entrepreneurship of high-tech enterprises from a fresh perspective
Summary
Recent decades have witnessed the burgeoning of Internet technology and related industries. The changes in the internal incentives induce the configuration direction, degree of release, and evolution of entrepreneurship and affect the innovative and entrepreneurial behaviors of entrepreneurs [3]. Combining the internal and external institutional drivers of entrepreneurship is of great practical significance to create a healthy growth environment for entrepreneurs, enhance the internal vitality and creativity of high-tech enterprises, and achieve high-quality development of high-tech industries. The influencing factors of the entrepreneurship of high-tech enterprises are mostly studied on three levels: attributes of personal potential, internal incentives within enterprises, and external institutions. The internal incentives within enterprises and external institutions serve as key drivers Against this backdrop, entrepreneurship must act under the premise of following the institutional environment. Internal guarantee, internal incentives, and external institutions are refined into six factors for deep consideration: management capability, control power incentive, equity incentive, salary incentive, government intervention, and market competition. en, a qualitative comparative analysis (fsQCA) was carried out to comprehensively analyze the relationship between the multiple paths of the six antecedent factors and entrepreneurship, aiming to find the optimal element combination that stimulates entrepreneurship. is research attempts to answer the following questions: what are the paths that stimulate entrepreneurship of high-tech enterprises? Which paths can stimulate a high level of entrepreneurship? Which paths can suppress entrepreneurship?
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