The impact of criminal law regulation-based business environment optimization on entrepreneurial spirit and enterprise development

Abstract

The purpose is to explore the impact of the business environment optimization by Criminal Law Regulation (CLR) on Entrepreneurial Spirit (ES) and Enterprise Development (ED) and to provide a reference for subsequent related research. Based on this, this work first makes a detailed analysis of the business environment and CLR. Second, the research hypotheses are put forward, and the conceptual model is proposed. At the same time, a Questionnaire Survey (QS) is designed to analyze the business environment, ES, and ED, and their relationships. Finally, a Structural Equation Model (SEM) is constructed and the CLR-optimized business environment is used as the intermediary variable to explore the impact of the business environment on ES and ED. Then, 200 QSs (recovering 192 valid ones) are distributed to investigate entrepreneurs' attitudes toward ES and ED in different regions. Statistical analysis and independent t-tests are performed on the survey results to judge the relationship between variables. The results of empirical analysis show that (1) The significance coefficient P of ES and ED is 0.005 < 0.01, and the scores of ES and ED of large enterprises are 132.7864 and 142.3243, respectively, which are the highest. Therefore, CLR-optimized business regulation has a significant positive impact on the ED. (2) The influence coefficient of CLR-optimized business regulation and ES is 0.60, and the influence coefficient of CLR-optimized business regulation and ED is 0.75. Therefore, CLR-optimized business regulation plays a positive role in the development of ES. CLR-optimized business regulation plays a regulating role between ES and ED. (3) CLR-optimized business regulation has a significant positive impact on the formation of ES. The policy enlightenment of this work mainly has three points. First, optimizing the business environment can stimulate and protect ES, thus improving the quality of economic growth. All regions should promote “mass entrepreneurship and innovation” and high-quality economic development by improving the convergence of economic policies and building a legal and market-oriented business environment. Second, all regions should implement dynamic and differentiated policies to optimize the business environment's spatial pattern in Chinese cities. Third, there is a need to further strengthen the construction of new infrastructure through cutting-edge information technologies, such as Fifth Generation (5G) mobile communication, Big Data, and Artificial Intelligence (AI).

The role of business environment optimization on entrepreneurship enhancement

“…An efficient and clean governmental environment can reduce corrupt practices, provide efficient and convenient governmental services for enterprises and reduce the time spent by entrepreneurs on non-productive external public relations hospitality. So that they can devote their time to more useful business life, such as enterprise production and new product development, and thus can respond quickly to market demand (Liu and Li, 2022;Dongle et al, 2016;Sendra-Pons et al, 2022). Fair and transparent legal policy environment implies improving the property rights protection system at the legal level and creating an external economic system with clear property rights and separation of authority and responsibility, which not only reduces the potential risks of entrepreneurs in the entrepreneurial process and increases the expected returns of entrepreneurial activities, but also motivates entrepreneurs to invest more resources in productive activities, and improves innovation and entrepreneurship (Yang et al, 2022;Slesman et al, 2020).…”

“…How to cultivate higher entrepreneurship has been the focus of domestic and foreign scholars' research, which mainly focuses on the following aspects: first, according to the "institutional critical hypothesis", the external institutional environment affects entrepreneurship. Studies have demonstrated that the institutional environment (Lucas et al, 2022;Chowdhury et al, 2019), property rights protection system (Bu and Liao, 2022), legal environment (Yang et al, 2022), the degree of local corruption (Liu and Li, 2022), and government control (Akhmetshin and Shafigullina, 2015) directly or indirectly have an impact on entrepreneurship. Second, according to the theory of information asymmetry, studies have been conducted from financing constraints (Jensen et al, 2022), the level of financial development (Jiang and Fan, 2021), which consider finance as an important factor affecting the level of entrepreneurial innovation and entrepreneurial input.…”