Publication Type
PhD Dissertation
Version
publishedVersion
Publication Date
3-2025
Abstract
Entrepreneurial spirit, as a vital production factor in contemporary society, plays a leading and guiding role throughout the entire life cycle of a business. In particular, entrepreneurial innovation spirit, a key element of entrepreneurial spirit, is a pivotal engine of economic and societal progress. This paper adopts an empirical research approach to analyze the correlation between entrepreneurial innovation spirit and firm outcome, delving into the impact of entrepreneurial innovation spirit on a firm's operational efficiency, profitability, solvency, and development capabilities. The findings provide theoretical support and practical guidance for enterprise management, ultimately contributing to the creation of greater corporate value and the promotion of economic development.
The STAR Market, as a crucial component of China's capital market, is a significant initiative in implementing the innovation-driven development strategy. Its purpose is to enhance the capital market's ability to support the advancement of China's critical core technologies and to improve the fundamental institutions of the capital market. Based on data from listed companies on the STAR Market, this paper constructs a measurement index system for entrepreneurial spirit. The results show that entrepreneurial spirit significantly enhances firm performance. Notably, a positive correlation exists between entrepreneurial innovation spirit, entrepreneurial risk-taking spirit, and firm performance. This implies that companies with high levels of entrepreneurial spirit tend to exhibit stronger operational efficiency and profitability in the market, while also possessing greater solvency and sustainability.
Drawing upon these research conclusions, this paper proposes that managers of innovation-driven companies should closely consider the company's development stage and market environment when formulating strategies, and rationally plan the direction and objectives of innovation. Simultaneously, they should strive to transform innovative achievements into real productive forces, enhancing the company's competitive edge in the market. This not only enhances to the company's own development but also exerts a beneficial effect on the entire economic system, driving comprehensive social progress.
Keywords
entrepreneurial spirit, innovation spirit, corporate innovation, firm performance, STAR Market
Degree Awarded
Doctor of Bus Admin (CKGSB)
Discipline
Entrepreneurial and Small Business Operations
Supervisor(s)
YU, Jun
First Page
1
Last Page
281
Publisher
Singapore Management University
City or Country
Singapore
Citation
ZHANG, Zhige.
Entrepreneurial spirit and firm performance: An empirical study based on data from the star market. (2025). 1-281.
Available at: https://ink.library.smu.edu.sg/etd_coll/755
Copyright Owner and License
Author
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.