A Study on Sustainable Entrepreneurial Behavior in China from Multiple Perspectives

Abstract

Sustainable entrepreneurship is an economic activity that integrates entrepreneurial activities with environmental and social sustainability, which is a frontier research field that integrates the triple bottom line of economy, environment, and society. A comprehensive survey was conducted in this study by collecting data from 203 potential entrepreneurs in China, such as employees with work experience, freelancers, and college students, by means of a questionnaire in March 2022. Structural equation modeling (SEM) was employed to investigate the research hypotheses considered, testing the impact of entrepreneurial intention on sustainable entrepreneurial behavior from the perspective of risk perception and institutional environment. The reliability and validity of the measurements are demonstrated. The outcomes from the conducted analyses show that entrepreneurial intention and risk perception do not directly affect sustainable entrepreneurial behavior, while entrepreneurial intention significantly affects risk perception. Moreover, risk perception serves a mediating role in the relationship between entrepreneurial intention and sustainable entrepreneurship. The institutional environment positively predicts sustainable entrepreneurship behavior and could even have a greater effect by reducing risk perception. Hence, this study suggests that the government should provide policy and financial support to create an open, stable, and inclusive institutional environment, to reduce the cost and risk of innovation and entrepreneurship. At the same time, it also provides theoretical and practical references for potential entrepreneurs to improve their entrepreneurial intention and carry out sustainable entrepreneurial behavior.