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Article

The Role of Policy Perceptions and Entrepreneurs’ Preferences in Firms’ Response to Industry 4.0: The Case of Chinese Firms

by 1,*, 1 and 2
1
School of Economics and Management, North China University of Technology, Beijing 100144, China
2
School of Economics and Management, Beijing University of Technology, Beijing 100122, China
*
Author to whom correspondence should be addressed.
Academic Editor: Grigorios L. Kyriakopoulos
Sustainability 2021, 13(20), 11352; https://doi.org/10.3390/su132011352
Received: 18 August 2021 / Revised: 1 October 2021 / Accepted: 5 October 2021 / Published: 14 October 2021
(This article belongs to the Special Issue Sustainable Human Resource Management in Industry 4.0)
Favorable policy implementation results are due not only to policy makers’ abilities but also to the behavior of those responding to the policies. For example, a CEO’s understanding of a government policy’s content and his or her willingness to respond to it, based on the expectation of profits, plays a vital role. To understand the relationship between how policies are perceived and how enterprises behave in response to innovation policies in the era of the 4th Industrial Revolution (Industry 4.0), in this study, we use structural equation modeling to investigate the roles of various factors and examine the response mechanisms in enterprises through which entrepreneurs react to Industry 4.0 innovation policies. The hypothesized model is validated empirically using a sample collected from 337 domestic Chinese high-tech firms. The modeling results indicate that positive perceptions of policies have a positive effect on entrepreneurs’ preferences which, in turn, motivate positive behavior toward innovation. Moreover, testing the model showed partial and complete mediation effects, indicating that the perceived practicability of a policy is a factor with a strong impact on response behavior that sometimes exerts its influence by altering the mediator of entrepreneurs’ responsive preferences. The empirical results and management implications of this study can serve as a reference for the effective implementation of and response to government development plans. View Full-Text
Keywords: Industry 4.0; innovation policy; policy response; policy perception; entrepreneurs’ preferences Industry 4.0; innovation policy; policy response; policy perception; entrepreneurs’ preferences
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MDPI and ACS Style

Li, C.; Qiu, Z.; Fu, T. The Role of Policy Perceptions and Entrepreneurs’ Preferences in Firms’ Response to Industry 4.0: The Case of Chinese Firms. Sustainability 2021, 13, 11352. https://doi.org/10.3390/su132011352

AMA Style

Li C, Qiu Z, Fu T. The Role of Policy Perceptions and Entrepreneurs’ Preferences in Firms’ Response to Industry 4.0: The Case of Chinese Firms. Sustainability. 2021; 13(20):11352. https://doi.org/10.3390/su132011352

Chicago/Turabian Style

Li, Chenguang, Zhenjun Qiu, and Tao Fu. 2021. "The Role of Policy Perceptions and Entrepreneurs’ Preferences in Firms’ Response to Industry 4.0: The Case of Chinese Firms" Sustainability 13, no. 20: 11352. https://doi.org/10.3390/su132011352

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