The Effects of Entrepreneurial Institutional Environment, Personality Traits and Social 'Guanxi' on Entrepreneurial Decisions: An Empirical Study Based on the Data From Xiamen City

摘要

By factor analysis, this study finds out three-level factors—entrepreneurial institutional environment, entrepreneurial traits and social "Guanxi" that affect entrepreneurial decisions based on the data from Xiamen, Fujian Province, China. Firstly, by theoretical analysis and empirical research, we find that people's perceptions of entrepreneurial institutional environment are the same in Xiamen. Secondly, based on this finding, this paper analyzes the differences of entrepreneurial traits and social "Guanxi" between entrepreneurs and non-entrepreneurs by one-Independent-Sample T Test, which validates that there are significant differences between entrepreneurial group and non-entrepreneurial group. Thirdly, controlling for demographic variables, entrepreneurial institutional environment and entrepreneurial traits, we study how the various dimensions of social "Guana" —relation amount, proprietary information and relation quality influence entrepreneurial decisions with ordered logit models. The results show that these dimensions of social "Guanxi" influence entrepreneurial decisions significantly. Finally, we propose suggestions for policy makers to promote individuals to start new businesses.