创业团队声誉影响创业融资绩效吗?——基于组织合法性的中介效应

Does the Reputation of Entrepreneurial Team Affect the Performance of Entrepreneurial Financing?--The Mediating Effect Based on Organizational Legitimacy

基于“新进入缺陷”理论和制度理论,构建了创业团队声誉、组织合法性与创业融资绩效的理论模型,对216份有效问卷数据进行层次回归分析,探索创业团队声誉对创业融资绩效的影响机制。结果表明:创业团队声誉正向影响创业融资绩效;创业团队声誉与组织合法性具有显著正向关系;组织合法性显著正向影响创业融资绩效,且组织合法性在创业团队声誉与创业融资绩效之间发挥部分中介效应。研究有助于探索“新进入缺陷”背景下影响创业融资绩效的因素,新创企业通过建立良好的创业团队声誉来提高组织合法性,达到提高创业融资绩效的目的。

Based on the“new entry defect”theory and institutional theory,this paper constructs a theoretical model of entrepreneurial team reputation,organizational legitimacy and entrepreneurial financing performance,conducts hierarchical regression analysis on 216 valid questionnaire data,and explores the influence mechanism of entrepreneurial team reputation on entrepreneurial financing performance.The results show that the reputation of the entrepreneurial team positively affects the entrepreneurial financing performance;There is a significant positive relationship between entrepreneurial team reputation and organizational legitimacy.Organizational legitimacy has a significant positive impact on venture financing performance,and it plays a partial mediating effect between the reputation of entrepreneurial teams and venture financing performance.This study is helpful to explore the factors that affect venture financing performance under the background of“new entry defect”.By establishing a good reputation of the start-up team,new ventures can improve organizational legitimacy and achieve the purpose of improving venture financing performance.