中国独角兽企业高成长的模式研究——基于主题建模和fsQCA的分析

Research on the High Growth Models of Chinese Unicorns:Based on Subject Modeling and fsQCA Analysis

独角兽企业凭借爆发式成长、颠覆性创新等特征,已成为初创企业竞相追逐的目标。然而,学界对于独角兽企业高成长的模式尚未有深入研究。基于创业生态系统理论,通过文本主题挖掘方法,从创业团队、创新模式和创业环境3个关键维度确定前因要素构建独角兽企业高成长的驱动因素组态模型。在此基础上,利用模糊集定性比较分析(Fuzzy-set Qualitative Comparative Analysis,fsQCA)方法对86家中国独角兽企业进行组态分析,研究得出5种中国独角兽企业高成长的组态构型:博采众长协同型、内外联动双创型、同窗故友商创型、生态聚合赋能型和集思广益技变型。结构化勾勒了中国独角兽企业实现高绩效成长的多种创业模式,为加深理解独角兽企业成长的内在机制及创业模式选择提供了清晰的判断思路。

Unicorns,with characteristics such as explosive growth,disruptive innovation,has become a target for start-ups to chase.However,the high growth pattern of unicorns has not been deeply studied.Based on the entrepreneurial ecology theory and text topic digging,the antecedent factors are determined from three key dimensions of entrepreneurial team,innovation mode and entrepreneurial environment to build a configuration model of driving factors for high growth of unicorns.On this basis,the fsQCA method is used to analyze the configuration of 86 Chinese unicorns,and five kinds of high-growth configuration of Chinese unicorns are obtained:synergy type,internal and external linkage double innovation type,business innovation type,ecological aggregation empowerment type and brainstorming type.This research structurally outlines a variety of entrepreneurial models for Chinese unicorns to achieve high performance growth,and provides a clear judgment logic for deepening the understanding of the internal mechanism of unicorn growth and reasonable selection of entrepreneurial models.