Research on Driving Factors of Evolution of Antagonistic Conflicts Between Entrepreneurs and Investors Based on Grounded Theory

摘要

In this paper, 14 publicly reported actual cases reflecting antagonistic conflicts between entrepreneurs and investors are chosen, and a grounded theory approach is adopted to collect and analyze the original data of cases. Total of 108 concepts, 23 sub-categories, 6 main categories, and a core category of “driving factors of evolution of antagonistic conflicts” are obtained, and the model of driving factors of evolution of antagonistic conflicts between entrepreneurs and investors is constructed. This research shows that: (1) divergence of strategic objective, divergence of control right allocation, divergence of interests and moral hazard are the direct driving factors of antagonistic conflict evolution; (2) individual perceptions of both entrepreneurs and investors are the mediating driving factor of antagonistic conflict evolution; (3) antagonistic response is the situational driving factor of antagonistic conflict evolution. Finally, suggestions for preventing and resolving antagonistic conflicts between entrepreneurs and investors are provided according to the study.