5. Conclusions
As a type of scarce resource, an entrepreneur's effective allocation is an effective way to achieve enterprise development and promote economic growth. This research found that entrepreneurial ability exhibits a positive correlation with technological innovation, which indicates that the listed company with a higher entrepreneurial ability index possesses greater technological innovation. With higher guanxi, social responsibility, and strategic leadership abilities, the enterprise's technological innovation is superior. This is primarily because with high guanxi ability, the entrepreneur can more easily obtain government funding, which may contribute to the development of technological innovation. Thus, the entrepreneur's guanxi ability is closely related to technological innovation. Additionally, guanxi contributes to the enterprise's competitive advantage, derived from interactions with such stakeholders as suppliers, customers, and aligned partners. Entrepreneurial guanxi allows the enterprise to obtain necessary information regarding opportunities for development.