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| Stakeholder Coordination Mechanism of Technology Business Incubators |
| Sheng Ya1,Pan Mingming1,Li Yulong2 |
| (1.School of Business Administration，Zhejiang Gongshang University，Hangzhou 310018，China;2.Shanghai Xinlonghang Information Technology CO.,LTD.，Hangzhou branch，Hangzhou 200000，China) |
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Abstract With the advent of knowledge economy, science and technology innovation has become the commanding heights of international competition. As an important part of the national innovation system, technology business incubators can support public innovation and entrepreneurship and promote the implementation of the national innovation-driven development strategy. Although a series of achievements have been made in the construction of incubators in China, there are still problems such as the imperfect coordination and interaction mechanism between stakeholders. Due to the limited resources, incubators need to cooperate with stakeholders to achieve sustainable development. Stakeholders provide various resources to incubators for their own interests, but due to information asymmetry, the interaction with each other may cause conflicts which affect the effective operation of incubators. Therefore, it is an important problem of how to coordinate the conflicts between stakeholders to achieve the orderly relationship, and it needs to be solved urgently.#br#Based on different theoretical perspectives, the existing studies have emphasized the characteristics of multi-stakeholder participation in incubators, accompanying with the conflicts, and suggested that incubators need to strengthen cooperation between stakeholders through institutional design. However, there is still a lack of discussion on how incubators coordinate conflicts between stakeholders. Stakeholder theory, as a mainstream theory for analyzing the attributes of agents and explaining relationships, provides an important knowledge base for exploring the sources of conflicts between stakeholders and the construction of coordination mechanism. Therefore, this paper takes the Y technology business incubator as a case, and uses the exploratory case study method to carry out research based on the stakeholder theory.#br#Research finds that the root causes of conflicts include interest differences and unreasonable power allocation among stakeholders, as well as the interest-power asymmetry of a stakeholder. The coordination mechanism includes coordinating the inconsistent goals among stakeholders caused by interest differences through cultural coordination, coordinating the power competition among stakeholders caused by unreasonable power allocation through decentralized control, and coordinating the opportunistic behavior caused by the interest-power asymmetry through dynamic management and incubation service integration. Eventually, the interest-power of various stakeholders will be distributed and symmetrically configured, and the relationship among them will be orderly.#br#This paper introduces the stakeholder theory into the technology business incubators research, and on the basis of identifying sources of conflicts, it constructs the coordination mechanism, thereby enriching the stakeholder coordination research. The research results have instructive significance for technology business incubators in practice. First of all, incubators should gather the elements of innovation and achieve the internalization of external resources, so as to improve the quality of incubation services. Secondly, incubators built on the basis of industry-leading firms should grasp the distribution of control power between the construction firms and the internal management team, so as to improve the effectiveness of management. Finally, due to the diversification and heterogeneity of stakeholders, incubators can carry out various activities to enhance the communication and interaction between stakeholders, so as to form a community of goals and interests.#br#Although this study constructs the stakeholder coordination mechanism of science and technology business incubator through case analysis, it only selects one science and technology business incubator for analysis. In the future, multi case, mathematical model and large sample empirical methods can be used to study the of stakeholders. What;s more, the interviews with various stakeholders of the incubator can be supplemented and taken as the research focus in the future. Lastly the dynamic changes of interest power structure of various stakeholders are not considered. In fact, the interaction between incubators and stakeholders often revolves around the incubation activities of a start-up. In different incubation stages, the specific assets invested by various stakeholders are various, and the interest power structure is therefore different. In the future, researchers can focus on specific incubated enterprises and analyze the conflict and coordination mechanism between various stakeholders at different stages from incubation to hatching.#br#
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Received: 21 July 2021
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