What kind of government-business relationship could stimulate entrepreneurship has been one of the hot topics in the field of entrepreneurship.In particular,serial entrepreneurship is more concerned with the improvement of the exter-nal institutional environment than initial entrepreneurship.A good government-business relationship could optimize the business environment,which is important for the development of serial entrepreneurship.In 2016,General Secretary Xi Jinping first proposed a new type of cordial and clean relationship between government and business,indicating that the government should be friendly and moderate,but also clean and competent.Previous studies on the government-business relationship and entrepreneurial activities have mostly been conducted from the perspective of being"cordial"or"clean".Therefore,following the institutional theory,this paper studies the impact of the joint effect of"cordial"and"clean"on serial entrepreneurship from the perspective of both"cordial and clean"government-business relationship,which helps clarify the mechanism of the impact of a new government-business relationship on serial entrepreneurship.According to the institutional theory,the government is the most important institutional subject of the external environment of the firm.The construction and implementation of the new government-business relationship provide more resources to support the firm,and the serial entrepreneurs form trust in the government based on this resource information,which in turn influences their choice of whether to engage in entrepreneurial activities again.Therefore,this study hypothesizes that trust in govern-ment plays a mediating role between new government-business relationship and serial entrepreneurial behavior.Mean-while,although the external environment is a key condition that influences serial entrepreneurial behavior,organizations or people in the same institutional environment do not always exhibit similar cognitions or behaviors.Socioeconomic status represents their ability to access economic and social resources for entrepreneurial activities.Therefore,socioeconomic sta-tus is considered a key factor influencing entrepreneurs to engage in serial entrepreneurial behavior and may moderate the relationship between the new government-business relationship and serial entrepreneurial behavior.The government is the most important institutional agent in the external environment of a firm.Serial entrepreneurs form trust in the government based on the resource information released by the government,which in turn influences their choice of whether to engage in entrepreneurial activities again.Thus,trust in government trust may play a mediating role between new government-business relationships and serial entrepreneurial behavior.At the same time,although the ex-ternal environment is a key condition influencing serial entrepreneurial behavior,organizations or people in the same insti-tutional environment do not always exhibit similar perceptions or behaviors.Socioeconomic status represents their ability to access economic and social resources for entrepreneurial activities.Thus,socioeconomic status is thought to potentially moderate the relationship between new government-firm relations and serial entrepreneurial behavior.The data used in this study consists of two parts:the data related to serial entrepreneurs is from the individual data-base of the China Family Panel Studies(CFPS)for five consecutive periods from 2012 to 2020,the household economic database in 2018,and the household relationship database in 2018,conducted by the China Social Science Research Center of Peking University.The new government-business relationship is from the"Ranking of Government-Business Relation-ship in Chinese Cities 2020"published by the Institute of National Development and Strategic Studies of Renmin Universi-ty of China.Regression tests are conducted based on the above data.The results show that(1)the joint effect of"cordial"and"clean"government-business relationship has a facilitating effect on serial entrepreneurial behavior.(2)The joint effect of"cordial"and"clean"government-business relationship on serial entrepreneurial behavior is mainly achieved through trust in government.(3)Entrepreneurs'socioeconomic status can weaken the facilitative effect of the joint effect of"cordial"and"clean"government-business relationship on serial entrepreneurial behavior.The above findings indicate that the government needs to develop both"cordial"and"clean"relationship to implement a new type of government-busi-ness relationship.It is not only necessary to pay attention to trust in the government,but also to implement the"cordial"and"clean"relationship between government and business according to the different socioeconomic status of entrepreneurs so as to avoid the emergence of absolute equality.
New Government-business RelationshipSerial EntrepreneurshipTrust in GovernmentSocioeconomic Status
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