Abstract
Favorable policy implementation results are due not only to policy makers’ abilities but also to the behavior of those responding to the policies. For example, a CEO’s understanding of a government policy’s content and his or her willingness to respond to it, based on the expectation of profits, plays a vital role. To understand the relationship between how policies are perceived and how enterprises behave in response to innovation policies in the era of the 4th Industrial Revolution (Industry 4.0), in this study, we use structural equation modeling to investigate the roles of various factors and examine the response mechanisms in enterprises through which entrepreneurs react to Industry 4.0 innovation policies. The hypothesized model is validated empirically using a sample collected from 337 domestic Chinese high-tech firms. The modeling results indicate that positive perceptions of policies have a positive effect on entrepreneurs’ preferences which, in turn, motivate positive behavior toward innovation. Moreover, testing the model showed partial and complete mediation effects, indicating that the perceived practicability of a policy is a factor with a strong impact on response behavior that sometimes exerts its influence by altering the mediator of entrepreneurs’ responsive preferences. The empirical results and management implications of this study can serve as a reference for the effective implementation of and response to government development plans.
Highlights
IntroductionPublisher’s Note: MDPI stays neutral with regard to jurisdictional claims in published maps and institutional affiliations
We introduce the Policy Acceptance Model [17] to combine the existing policy response theory with the complex adaptive system theory and explore the policy response mechanism from a stimulus–response perspective
(= 0.136) of entrepreneurs’ responsive preferences between them. These analyses show that the mediating role of perceived practicability of policy (Hypothesis 3) and entrepreneurs’
Summary
Publisher’s Note: MDPI stays neutral with regard to jurisdictional claims in published maps and institutional affiliations. The 4th Industrial Revolution (Industry 4.0), which has attracted much interest in recent years, has brought new development opportunities to the manufacturing and service industries [1,2,3]. In Germany, the phrase “Industry 4.0” is used to describe the digital transformation in manufacturing. The concept is understood differently in different countries, where “Industry 4.0” can refer to a key tool for implementing the national strategy of innovative development (USA), the leading sphere of industry (UK), the modern industrial reform (France), the plan for scientific and technological modernization (Japan), and manufacturing innovation and transformation (China) [4]
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