Research on the Driving Factors of Entrepreneurial Resilience and Its Influence on Entrepreneurial Success

Zhang Xiue, Li Mengying

Foreign Economics & Management Vol. 42, Issue 08, pp. 96 - 108 (2020)  DOI:10.16538/j.cnki.fem.20200519.401

Summary

Based on positive psychology and the theory of resilience, this study constructs a theoretical model, analyzes the data of 229 entrepreneurs with data processing software such as SPSS and AMOS, and verifies the theoretical model and hypothesis. The following conclusions are obtained: （1） Entrepreneurial resilience has a positive impact on entrepreneurial success. （2） Entrepreneurial experience and social support can affect entrepreneurial success by affecting entrepreneurial resilience. （3） Environmental uncertainty enhances the impact of entrepreneurial resilience on entrepreneurial success. The higher the level of environmental uncertainty, the more important entrepreneurial resilience is to entrepreneurial success. This study combining psychology with entrepreneurship research, the results confirm that the way to promote the success of entrepreneurship is to correctly view and utilize the entrepreneurial experience, improve the social support system for entrepreneurship, improve the resilience of entrepreneurs. The results provide guidance for realizing entrepreneurial success in an uncertain environment. This study has the following contributions: （1） It highlights the important role of entrepreneurial resilience in entrepreneurial success in the current uncertain environment. Despite the increasing interest in the concept of resilience in recent years, there is still a relative lack of research. What exactly entrepreneurial resilience means, and what impact it has on the behaviors and outcomes of entrepreneurs, are still largely unclear. This study makes an in-depth analysis of the construct and related influencing factors of entrepreneurial resilience, studies the variable of entrepreneurial resilience in the field of entrepreneurship, proves the importance of entrepreneurial resilience to the success of entrepreneurship, and broadens the related research on the outcome variable of entrepreneurial resilience. （2） The antecedent variables of entrepreneurial resilience are explored from a comprehensive perspective by combining individual factors and situational factors. Entrepreneurial resilience is not a constant personal trait; it comes from personal experience and can be learned and nurtured. It is of great significance to explore the influencing factors of entrepreneurial resilience to cultivate entrepreneurial resilience, but there are few studies on the antecedent variables of entrepreneurial resilience, and they are only analyzed from a single level to separate the joint effects of individual factors and situational factors. （3） Both entrepreneurial experience and social support are believed to have positive effects on performance, but their mechanisms need to be studied, especially the mechanisms of social support on entrepreneurial success. Entrepreneurship is associated with risks and pressures, and similar risks and pressures have been shown to benefit from social support. This study explores the mechanism of entrepreneurial experience and social support influencing entrepreneurial success through entrepreneurial resilience, and improves relevant researches.

Keywords

entrepreneurial resilience; entrepreneurial success; entrepreneurial experience; social support; environmental uncertainty