A Mediating Effect of Economic Stability and Market Opportunities on the Relationship between Entrepreneurial Resources and Entrepreneurial Intention
DOI:
https://doi.org/10.56982/dream.v3i02.206Keywords:
economic stability, market opportunities, entrepreneurial resources, entrepreneurial intentionAbstract
Entrepreneurship plays a crucial role in economic development, particularly in emerging economies like China. Understanding the determinants of entrepreneurial intention is essential for fostering entrepreneurship and driving economic growth. This study investigates the mediating role of economic stability and market opportunities in the relationship between entrepreneurial resources and entrepreneurial intention, focusing on the contrasting environments of Sichuan and Shanghai in China. Drawing on resource-based view theory and opportunity recognition theory, this research proposes a conceptual model that posits entrepreneurial resources as antecedents to entrepreneurial intention, with economic stability and market opportunities as mediating variables. Data were collected through structured surveys from a sample of entrepreneurs in Sichuan and Shanghai. Preliminary findings suggest that entrepreneurial resources positively influence entrepreneurial intention, and this relationship is partially mediated by economic stability and market opportunities. The contrasting economic landscapes of Sichuan and Shanghai provide a unique context for understanding how regional differences impact the relationships among these variables. This study contributes to the entrepreneurship literature by providing empirical evidence on the mediating mechanisms through which economic stability and market opportunities influence the relationship between entrepreneurial resources and entrepreneurial intention. The findings offer practical implications for policymakers and practitioners seeking to enhance entrepreneurial ecosystems and promote sustainable economic development in different regions of China. Further research could explore additional contextual factors and expand the scope to other regions or countries for comparative analysis.
Downloads
Metrics
References
Beck, T., & Levine, R. (2004). Stock markets, banks, and growth: Panel evidence. Journal of Banking & Finance, 28(3), 423-442.
Kang, L. (2020). Economic stability and its determinants: Evidence from China. Economic Modelling, 91, 174-181.
Shane, S., & Venkataraman, S. (2000). The promise of entrepreneurship as a field of research. Academy of Management Review, 25(1), 217-226.
Zhao, X., & Aram, J. D. (2021). Institutional transitions and market opportunities: Entrepreneurial activities in China’s renewable energy sector. Journal of Cleaner Production, 287, 125071.
Deng, P., & Li, S. (2020). Environmental dynamism, entrepreneurial orientation, and sustainable competitive advantage: The contingent role of market turbulence in China. Journal of Business Research, 119, 474-483.
Fujita, M., & Thisse, J. F. (2013). Economics of Agglomeration: Cities, Industrial Location, and Regional Growth. Cambridge University Press. DOI: https://doi.org/10.1017/CBO9781139051552
Feldman, M. P. (2020). The Entrepreneurial Ecosystem: Theoretical Foundations and Empirical Advances. Annual Review of Entrepreneurship, 2(1), 1-26.
Shane, S., & Venkataraman, S. (2000). The Promise of Entrepreneurship as a Field of Research. Academy of Management Review, 25(1), 217-226.
Alvarez, S. A., & Barney, J. B. (2007). Discovery and creation: Alternative theories of entrepreneurial action. Strategic Entrepreneurship Journal, 1(1-2), 11-26.
Beck, T., & Levine, R. (2004). Stock markets, banks, and growth: Panel evidence. Journal of Banking & Finance, 28(3), 423-442.
Shane, S., & Venkataraman, S. (2000). The promise of entrepreneurship as a field of research. Academy of Management Review, 25(1), 217-226.
Alvarez, S. A., & Barney, J. B. (2007). Discovery and creation: Alternative theories of entrepreneurial action. Strategic Entrepreneurship Journal, 1(1-2), 11-26.
Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120.
Davidsson, P., & Wiklund, J. (2001). Levels of analysis in entrepreneurship research: Current research practice and suggestions for the future. Entrepreneurship Theory and Practice, 25(4), 81-100. DOI: https://doi.org/10.1177/104225870102500406
Shane, S., & Venkataraman, S. (2000). The promise of entrepreneurship as a field of research. Academy of Management Review, 25(1), 217-226.
Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120.
Alvarez, S. A., & Barney, J. B. (2007). Discovery and creation: Alternative theories of entrepreneurial action. Strategic Entrepreneurship Journal, 1(1-2), 11-26. DOI: https://doi.org/10.1002/sej.4
Wernerfelt, B. (1984). A resource-based view of the firm. Strategic Management Journal, 5(2), 171-180.
Krueger Jr, N. F. (1993). The impact of prior entrepreneurial exposure on perceptions of new venture feasibility and desirability. Entrepreneurship Theory and Practice, 18(1), 5-21.
Liñán, F., & Chen, Y. W. (2009). Development and cross-cultural application of a specific instrument to measure entrepreneurial intentions. Entrepreneurship Theory and Practice, 33(3), 593-617.
Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50(2), 179-211.
Krueger Jr, N. F. (1993). The impact of prior entrepreneurial exposure on perceptions of new venture feasibility and desirability. Entrepreneurship Theory and Practice, 18(1), 5-21.
Liñán, F., & Chen, Y. W. (2009). Development and cross-cultural application of a specific instrument to measure entrepreneurial intentions. Entrepreneurship Theory and Practice, 33(3), 593-617.
Husain, A., & Isaksson, A. (2013). Macroeconomic stability in resource-rich countries: The role of fiscal policy. IMF Working Paper, WP/13/56.
Kwenda, F. (2017). The importance of economic stability and how to achieve it. Journal of Economics and Sustainable Development, 8(14), 137-145.
Mishkin, F. S. (2011). Economics of money, banking, and financial markets (10th ed.). Pearson. DOI: https://doi.org/10.4337/9781849808057.00033
Taylor, J. B. (2017). Macroeconomic policy in a world without monetary policy independence. American Economic Review, 107(4), 1262-1266.
Bernanke, B. S. (2002). Deflation: Making sure "it" doesn't happen here. Speech at the National Economists Club, Washington, D.C.
Fisher, I. (1911). The Purchasing Power of Money: Its Determination and Relation to Credit, Interest and Crises. Macmillan.
Friedman, M. (1956). The Quantity Theory of Money: A Restatement. In Studies in the Quantity Theory of Money (pp. 1-21). University of Chicago Press. DOI: https://doi.org/10.1057/9780230226203.3371
Hume, D. (1752). Of Money. Essays, Moral, Political, and Literary.
Mankiw, N. G. (2016). Macroeconomics (9th ed.). Worth Publishers.
Woodford, M. (2003). Interest and Prices: Foundations of a Theory of Monetary Policy. Princeton University Press. DOI: https://doi.org/10.1515/9781400830169
Ardichvili, A., Cardozo, R., & Ray, S. (2003). A theory of entrepreneurial opportunity identification and development. Journal of Business Venturing, 18(1), 105-123. DOI: https://doi.org/10.1016/S0883-9026(01)00068-4
Shane, S., & Venkataraman, S. (2000). The promise of entrepreneurship as a field of research. Academy of Management Review, 25(1), 217-226.
Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120.
Teece, D. J., Pisano, G., & Shuen, A. (1997). Dynamic capabilities and strategic management. Strategic Management Journal, 18(7), 509-533. DOI: https://doi.org/10.1002/(SICI)1097-0266(199708)18:7<509::AID-SMJ882>3.0.CO;2-Z
Wernerfelt, B. (1984). A resource-based view of the firm. Strategic Management Journal, 5(2), 171-180. DOI: https://doi.org/10.1002/smj.4250050207
Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50(2), 179-211. DOI: https://doi.org/10.1016/0749-5978(91)90020-T
Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120.
Krueger Jr, N. F. (1993). The impact of prior entrepreneurial exposure on perceptions of new venture feasibility and desirability. Entrepreneurship Theory and Practice, 18(1), 5-21.
Liñán, F., & Chen, Y. W. (2009). Development and cross-cultural application of a specific instrument to measure entrepreneurial intentions. Entrepreneurship Theory and Practice, 33(3), 593-617. DOI: https://doi.org/10.1111/j.1540-6520.2009.00318.x
Shane, S., & Venkataraman, S. (2000). The promise of entrepreneurship as a field of research. Academy of Management Review, 25(1), 217-226.
Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120.
Beck, T., & Levine, R. (2004). Stock markets, banks, and growth: Panel evidence. Journal of Banking & Finance, 28(3), 423-442.
Kang, L. (2020). Economic stability and its determinants: Evidence from China. Economic Modelling, 91, 174-181.
Krueger Jr, N. F. (1993). The impact of prior entrepreneurial exposure on perceptions of new venture feasibility and desirability. Entrepreneurship Theory and Practice, 18(1), 5-21.
Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120. DOI: https://doi.org/10.1177/014920639101700108
Krueger Jr, N. F. (1993). The impact of prior entrepreneurial exposure on perceptions of new venture feasibility and desirability. Entrepreneurship Theory and Practice, 18(1), 5-21. DOI: https://doi.org/10.1177/104225879301800101
Shane, S., & Venkataraman, S. (2000). The promise of entrepreneurship as a field of research. Academy of Management Review, 25(1), 217-226.
Zhao, X., & Aram, J. D. (2021). Institutional transitions and market opportunities: Entrepreneurial activities in China’s renewable energy sector. Journal of Cleaner Production, 287, 125071.
Beck, T., & Levine, R. (2004). Stock markets, banks, and growth: Panel evidence. Journal of Banking & Finance, 28(3), 423-442. DOI: https://doi.org/10.1016/S0378-4266(02)00408-9
Deng, P., & Li, S. (2020). Environmental dynamism, entrepreneurial orientation, and sustainable competitive advantage: The contingent role of market turbulence in China. Journal of Business Research, 119, 474-483.
Kang, L. (2020). Economic stability and its determinants: Evidence from China. Economic Modelling, 91, 174-181.
Shane, S., & Venkataraman, S. (2000). The promise of entrepreneurship as a field of research. Academy of Management Review, 25(1), 217-226 DOI: https://doi.org/10.5465/amr.2000.2791611
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Xiong Xu

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.


