企業家認知與企業社會網路對企業績效的影響 - 基於中國房地產企業的實證

Abstract

Which factors lead to the differences in firm performance? There are explanations from different theories, including the institutional structure, production structure, peculiar knowledge, resources and capabilities of firm, entrepreneurial personalities and cognition, entrepreneurial social network etc. However, many researches study firm performance only from a single aspect, such as social cognition theory emphasizes in entrepreneurial personalities and cognition, social network theory focuses in social network of entrepreneur or firm; both of them ignore the combination effects of entrepreneurial cognition and social network. This thesis constructs a framework of entrepreneurial Cognition-Social Network of Firm-Performance based on social cognition theory and social network theory, and then explores the impacts of entrepreneurial cognition and social network of firm on firm performance, using the questionnaires data of 550 property development firms in China.
Entrepreneurial Cognition includes Cognition towards political environments (CTP), Cognition towards firm (CTF), and Cognition towards demands (CTD). Here only Cognition towards political environments has significantly positive impacts on firm performance through direct effects and indirect effects. As for residential property development firms, CTP’s significant effects on firm performance is entirely through the project selection and operation (PSO). CTF and CTD have no significant impacts. Both linkage frequencies and linkage quality of social network have significantly positive impacts on firm performance, but with different mechanism. For linkage frequencies of social network, the impact is through positive direct effects and negative indirect effects, whereas, for linkage quality of social network, the impact is only through positive indirect effects of PSO. There are interactive effects between social network of firm and entrepreneurial Cognition. Specifically speaking, positive interaction exists between linkage quality of social network and CTP, CTF and CTD. Positive interaction exists between linkage frequencies of social network and CTF and CTD.
The results extend the existing literature. On one side, social network of firm and entrepreneurial Cognition do not necessarily show direct impacts on firm performance. It maybe through alternative moderating variables, such as the project selection and operation for property development firms. On the other side, this thesis finds there are interactive effects between entrepreneurial Cognition and social network of firm, especially on linkage quality of social network, which implies high-quality and deeply linkage are beneficial.
The managerial insights for property development firms are discussed. Firstly, the decision-maker of firm should emphasize on project selection and operation, which is vital in impacting firm performance, and social network of firm and entrepreneurial Cognition have positive impacts on firm performance. Secondly, firm needs to trade off the linkage frequencies of social network and linkage quality of social network. Property development industry has been operating in a supply-driven environment with the stimulus of government macro-policies. Under these circumstances, the firm should pay great attentions to political environments in an effort to analyze investment decisions. It is also found that there are differences in project types.

Date of Award	24 Jun 2015
Original language	Chinese (Traditional)
Awarding Institution	City University of Hong Kong
Supervisor	Yer Van HUI (Supervisor)