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| Value Judgment and Influence Path of the Concept of Elite Incubation |
| Li Hao1,Hu Haiqing2 |
| (1.Business School,Gansu University of Political Science and Law,Lanzhou 730070, China;2.School of Economic and Management, Xi′an University of Technology, Xi′an 710054, China) |
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Abstract Incubators play an important role in promoting the high-quality development of the entrepreneurial economy, and they benefit from the national "Double Innovation" policy and the promotion of social entrepreneurship, as well as the high expectations of many social capitals.However, along with the disorderly expansion of entrepreneurial capital and the intensification of homogeneous competition among enterprises, the influx of a large number of startups into incubators has brought the incubation industry great challenges to achieving qualitative change;coupled with the impact of the epidemic, the emergence of zombie incubators is the market symptom of the structural imbalance in the supply side of entrepreneurial services.Addressing these issues, this study aims to re-examine the role of incubators in the new phase and clarify the academic understanding of the "quantity" and "quality" in the traditional concept of incubation.In response to the market demand for ways to promote entrepreneurship, the incubation process consist of several parts: entering into the incubator, being incubated, completing the incubation or being dismissed.In fact, the success or failure of the incubation is ultimately the trajectory of the business after companies enter into incubation.Moreover, as market expectations and the demands of the entrepreneurial economy change, it is crucial to improve the quality of incubation at the source.Besides it is also a pressing practical issue behind its cause-and-effect relationship to clarify the pathways to guide the implementation of a strict incubation mechanism.#br#The concept of elite incubation is undoubtedly a bold attempt to transform the quality of China's entrepreneurial economy in order to find the optimal solution for the transformation of the old and new dynamics of the incubation industry.Strict entry into incubation is an innovative initiative to implement the concept of elite incubation, and it is necessary to answer the following questions: what is the use of strict incubation? Does strict incubation really work? How does it work? This series of questions shall prove the feasibility and operability of the elite incubation concept, and improve the research deficiencies of the incubation mechanism framework in the incubation process from the perspective of source governance.In view of this, this study uses the pathway judgment of the effectiveness of the strict entry into incubation mechanism as an entry point to reveal the feasibility and operation of the elite incubation concept.It is found that although strict incubation can significantly improve incubation performance, there is an incubator subject difference effect.According to the test of dynamic effects, strict incubation has a long-lasting mechanism to improve incubation performance.At the same time, the propensity score matching-double difference method (PSM-DID) is used to demonstrate that the increase in incubation performance was due to the institutional innovation of strict entry and not just the self-selection effect of strictly selected start-ups.Further research has clarified the impact of incubator organizational characteristics on the effectiveness of the strict entry incubation mechanism in relation to the suitability of strict selection orientation.#br#The primary theoretical contributions of the study lie in two aspects.Firstly,a more rigorous empirical paradigm is used to examine and confirm the positive antecedent effect of strict incubation on incubation performance and its threshold boundaries, and the conclusions clarify the value and feasibility of the elite incubation concept in practice, while horizontally improving the research deficiencies of the incubation mechanism framework in the incubation segment.Secondly,on the basis of the theoretical answer to the feasibility of the elite incubation concept, the research aims to uncover the mechanism of the elite incubation concept and the path of releasing the effectiveness of the mechanism, and the conclusions extend the value of the incubation mechanism in the incubation process from the vertical.The above research provides theoretical support for decision-making in relation to the feasibility and operation of the elite incubation concept, and fills in the research gaps on incubation mechanisms at the entry level from the perspective of source governance.#br#
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Received: 26 September 2022
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