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Entrepreneurial Orientation, Intangible Assets And Firm Growth: The Impact Of 'Spirit And Material' On The Growth Of Chinese Private Firms

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Executive Summary

This paper has three contributions. First, it shows how field work within small firms in PR Chinese has provided new evidence which enables one to measure and calibrate Entrepreneurial Orientation (EO), as 'Spirit', and Intangible Assets (IA), as 'Material', for use in models of small firm growth. Second, it uses inter-item correlation analysis and both exploratory and confirmatory factor analysis to provide new measures of EO and IA, in index and in vector form, for use in econometric models of firm growth. Third, it estimates two new econometric models of small firm employment growth in PR China, under the null hypothesis of Gibrat's Law, using the two new index-based and vector-based measures of EO and IA.

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