Family farm not only retains the advantages of low cost of family management supervision,but also integrates modern and efficient production mode.It is the core subject of new agricultural management and the future development direction of Chinese agriculture.Since the "No.1 Document" of the Central Committee of the People’s Republic of China first proposed to encourage and support the development of family farms in 2013,Chinese family farms have witnessed rapid development and become an important carrier to ensure national food security,agricultural and rural modernization,and rural revitalization goals.However,affected by the aging of Chinese agricultural working population,family farmers also show the characteristics of aging,and the problem of "who will manage the family farm in the future" becomes prominent.Since the emergence of family farms in China is relatively short,the government and all sectors of society mainly focus on how to improve the performance of family farms and ignore the withdrawal of farmers.Intergenerational inheritance is an insurmountable link in the long-term sustainable development of family farms,and it is also a difficult problem faced by all countries in the world.To develop and expand family farms,we need to do a good job in both increment and stock,and stock security is the basis of realizing increment.Therefore,how to realize the smooth inheritance of family farms and guarantee the successors of existing family farms are the new problems facing family farms in the new development stage.This paper focuses on issues related to the intergenerational inheritance of family farms,which is of great significance for the long-term sustainable development of family farms,ensuring food security,realizing agricultural and rural modernization and rural revitalization.On the basis of combing and summarizing relevant literature at home and abroad,guided by theories such as institutional change,farmer’s behavior,transaction cost and stakeholders,this paper uses models such as bivariate Probit,endogenous transformation,AHP,structural equation,game and case analysis methods to discuss the realization mechanism of family farm inheritance under the background of modern economic society.Clarify the operation mechanism and obstacles of different inheritance modes,reveal the connection mechanism and effect of "parent transfer" and "child inheritance" under the traditional parent-child inheritance mode,clarify the market-oriented inheritance decision-making mechanism of family farms that cannot realize parent-child inheritance,and on this basis optimize the family farm inheritance mechanism,reduce the inheritance obstacles of family farms,so as to realize the smooth inheritance of family farms.It is expected that this study can provide a basis for the policy making of extending the life cycle of family farms and provide practical guidance for realizing the sustainable development of family farms.The main research conclusions are as follows:(1)Parent-child inheritance and market-oriented inheritance are two major models for achieving family farm inheritance,and their characteristics are significantly different.The parent-child inheritance mode is formed under multiple conditions,such as emotional bias,economic rationality,traditional ethics and legal constraints.It is the primary consideration mode of family farm inheritance and is in the preferred position.The market-oriented inheritance model is a supplement to the parent-child inheritance model,which is in the secondary position but playing an increasingly important role.Parent-child inheritance has advantages such as low transaction costs,but it is easy to breed "farm children";The market-oriented inheritance model is beneficial for improving the efficiency of resource allocation,but it has drawbacks such as high transaction costs.The father generation and the son generation are the main participants in the parent-child inheritance mode,which realizes the family farm inheritance through the implementation of inheritance plan on the basis of the connection of their wills.Market inheritance is completed under the influence of the government,intermediary organizations and other stakeholders with the transaction between the current farmer and the successor as the core.Through field investigation,it was found that27.04% of surveyed households’ farms have a connection between their "parent’s transfer" and "child’s inheritance" willingness.The parent-child inheritance model has operational barriers such as low connection between parent-child willingness and lack of inheritance plans;38.81% of family farms that cannot achieve parent-child inheritance expect to achieve inheritance through a market-oriented inheritance model.However,the market-oriented inheritance model faces operational obstacles such as difficulty in finding transaction partners,difficulty in negotiating the transaction process,disconnection between institutional supply and demand,and insufficient government incentives.(2)The parent-child inheritance decision is a rational choice to maximize the expected income of the family under the joint influence of internal and external factors,which has a positive impact on the family farm management behavior and its sustainable development.Guided by the theory of farmer’s behavior and based on 551 family farm survey data,this paper clarified the connection mechanism of "parent’s transfer" and "child’s inheritance",used Bi-probit model to reveal the internal connection and influencing factors of "parent’s transfer" and "child’s inheritance" willingness,and verified the influence of "parent’s transfer" and "child’s inheritance" willingness connection on family farm management behavior through endogenous transformation model.The results are as follows: first,the connection between "parent’s transfer" and "child’s inheritance" is realized under the drive of cost saving and intergenerational interests,and is affected by internal and external environmental factors;The second is the mutual influence of "parent’s transfer" and "child’s inheritance",both affected by economic returns,emotional returns,risk perception and other factors;Third,offspring involvement and government support can strengthen the positive effect of economic income on paternal inheritance intention,and weaken the effect of risk perception on paternal inheritance intention.Fourth,the sensitivity of "parent’s transfer" and "child’s inheritance" to institutional constraints is higher than that of institutional support.This is due to the instability of the system and the mechanical means of institutional implementation of the grass-roots government,which reduces the trust degree of farm families in policies.Fifth,the influence of economic and emotional benefits on paternal inheritance intention is more obvious in other family farms,and the influence of risk perception on paternal inheritance intention is more obvious in planting family farms,which is mainly because other types of family farms have stronger profitability and risk resistance ability.Sixth,the connection between "parent’s transfer" and "child’s inheritance" intentions can have a positive impact on the current business behavior of family farms,which is conducive to the long-term sustainable development of family farms.This increases the average investment scale of family farms by3.39% to 17.35%,and the expected investment possibility increases by 12.76%.(3)The market-oriented inheritance model is the choice for the inheritance subject to achieve Pareto improvement of their own resources.Transaction costs are the main factor restricting the transmission subject’s willingness to market-oriented inheritance,and the transaction environment needs to be improved.Guided by the theory of planned behavior and transaction cost theory,based on 402 family farm survey data and government portal website data,this paper reveals the formation mechanism of farmers’ market-oriented inheritance decisions that are difficult to achieve father son inheritance,uses structural equation to explore the influencing factors of farmers’ market-oriented inheritance aspirations,and further analyzes the main constraints,Based on the analysis of the current development status of trading elements,the degree of development of the market-oriented inheritance trading market was calculated.The results are as follows: firstly,market-oriented inheritance decision-making is formed under the joint action of the endogenous driving force for obtaining profits and the exogenous driving force driven by stakeholders;The second is that the planning behavior and transaction cost perception of farmers directly affect their willingness to transmit,and transaction cost is the main factor restricting the formation of farmers’ willingness to inherit marketization.Perceived behavior control,behavioral attitude,and subjective norms have a positive impact on the formation of farmers’ willingness to transmit marketization,and each latent variable is correlated and mutually influencing;Thirdly,the transaction costs with complex sources constrain the development of market-oriented inheritance models by reducing the supply and demand of family farm management rights or raising transaction prices.Due to the fact that the transferor is the main carrier of transaction costs,high transaction costs inhibit their willingness to transmit,thereby increasing the possibility of family farm disintegration;The fourth is that the development level of the market-oriented inheritance and trading market for family farms in the surveyed area is 20.91%,which is still in the initial stage of development.The imperfect supporting mechanisms have restricted the process of market development,the trading environment needs to be optimized.(4)Optimized the inheritance mechanism of family farms.There are significant differences in the characteristics between the parent-child inheritance model and the market-oriented inheritance model,so this article has developed corresponding mechanism optimization strategies.Guided by mechanism design and stakeholder theory,optimize the inheritance mechanism of family farms from the perspective of market(internal)failure and government correction,strive to enhance the connection between "father transfer" and "son inheritance" wishes within the family,and promote the development of market-oriented inheritance models,in order to work together to achieve the goal of smooth inheritance of family farms.Based on the logic of "improving the driving force mechanism,refining the handover mechanism,and constructing a guarantee mechanism",an optimization strategy for the father son inheritance mechanism has been proposed.Firstly,by strengthening the positive effects of economic comparative benefits,new era awareness of agriculture,rural areas,and institutional support,as well as weakening the hindrance of risk perception,we will improve the driving mechanism for father son inheritance in family farms and enhance the motivation for potential inheritors to take over the farm;Secondly,the handover mechanism was optimized from the perspective of reducing transaction costs with stakeholders;Once again,it is proposed to build a guarantee mechanism by increasing policy guidance and support,strengthening the internal endowment of family farms,and optimizing the external environment;Finally,the feasibility and effectiveness of the above optimization strategy were confirmed through four typical cases.Following the logical approach of "property rights definition,subject identification,interest compatibility,supervision and protection",an optimization strategy for the market-oriented inheritance mechanism of family farms has been proposed.Firstly,based on property rights theory,the ownership and value of family farm assets were defined;Then,using the "Mitchell scoring method",the main stakeholders in the market-oriented inheritance were identified as the transmitter,receiver,intermediary platform,and government,and the interests and demands of all parties were clarified;Subsequently,through game analysis,it was found that under the conditions of active participation of the four parties in market-oriented inheritance,the transaction costs of behavior implementation can be greatly reduced,and the interests and total welfare of all parties can be maximized.Especially,the participation of intermediary platforms and the government greatly alleviates the conflict of interests between the transmitting party and the inheritor;Finally,based on the above conclusion,the bilateral market theory is introduced to explain the feasibility of using intermediary platforms and government forces to reconstruct and improve the market-oriented inheritance of family farms in the bilateral market,in order to ensure the smooth implementation of market-oriented inheritance of family farms.As a result,the operation and development of both inheritance models cannot be separated from the guidance,support,and supervision of the government.(5)Based on the above research conclusions,this paper puts forward some policy suggestions to ensure the smooth implementation of intergenerational inheritance of family farms.From the perspective of ensuring the operation of parent-child inheritance mode,the profitability of family farm should be improved and the risk level should be reduced.Change the traditional cognition of the society to the farmer,improve the farmer occupation attraction;Optimize the family farm operating environment,reduce the external environmental barriers;Guide family farms to make inheritance plans in advance and strengthen the training of inheritors.From the perspective of ensuring the operation of market-oriented inheritance mode,the entry threshold of market-oriented inheritance of family farms should be set up to reduce transaction risks.Scientifically define the ownership of family farm property and establish family farm asset evaluation system;Accelerate the construction of standardized and unified family farm property rights trading platform,improve the utilization rate of the platform;Actively seek potential successors and strengthen training to improve the inheritance environment. |