Assessing Entrepreneurial Behavior in Clustered Firms and its Impact on Firm Performance: A Case Study of the Yongkang Hardware Industrial Cluster in Zhejiang Province

Abstract

This study examines the entrepreneurial behavior exhibited by firms within clustered environments and investigates its association with firm performance, focusing on the case of the Yongkang Hardware Industrial Cluster in Zhejiang Province, China. Employing a mixed-methods approach that combines quantitative surveys with qualitative interviews, we assess various dimensions of entrepreneurial behavior, including innovation, risk-taking, proactiveness, and opportunity recognition, among firms operating within the cluster. Furthermore, we analyze the influence of these entrepreneurial behaviors on key performance indicators such as sales growth, profitability, and market share. Through empirical analysis and regression modeling, we uncover insights into the mechanisms through which entrepreneurial behavior contributes to firm success within the context of industrial clusters. The findings of this research provide valuable implications for policymakers, cluster managers, and business leaders seeking to foster a vibrant entrepreneurial ecosystem and enhance the competitiveness of clustered industries.