An Analysis Of The Impact Of Internet Finance On College Students’ Entrepreneurship And Innovation Willingness

In recent years,the development of internet finance in China has played important roles in minimising information assymetry and optimising resources allocations.College students has become the backbone of innovation and entreprenuership due to their characteristics of high scientific and technological innovation literacy,and strong adaptability.But the difficulties in financing weaken colleges students’ willingness to engage in innovation and entreprenuership.Thus,discussing the role of internet finance in solving the plight of college students’ innovation and entrepreneurship is of great significance for enhancing the willingness of college students to innovate and start a business,thereby stimulating social innovation and economic vitality,and promoting the transformation of my country’s economy from a high-speed growth stage to a high-quality development stage.Based on the above background,this thesis analyzes the development and research status of internet finance,clarifies the difficulties and problems faced by college students in the process of innovation and entrepreneurship,and combines the principles of financing constraint theory and social capital theory to construct the analysis framework of this paper.Additionally,this paper examines the theoretical logic about how internet finance affects college students’willingness to innovate and start a business from several channels,such as broadening financing channels and reducing financing costs,as well as non-financial attributes such as cultivating the entrepreneurial spirit of college students and accumulating human capital for innovation and entrepreneurship.Accordingly,this thesis proposes the relevant research hypothesis.To test the hypothesis,this paper constructs sample data by randomly distributing questionnaires to college students in various universities in S province.In the empirical testing stage,this paper uses the OLS model to verify the hypothesis that internet finance can improve the willingness of college students to innovate and start a business.Result suggests that it has problems such as weak and unstable promotion effect.To verify the reliability of the main conclusion,this paper conducts robustness check by replacing the explanatory variables and matching and replacing the regression model.It can be shown that the results are consistent with the benchmark regression results.To solve the endogeneity of reverse causality,this paper uses 2SLS and GMM and other methods to test instrumental variables.Result suggests that the benchmark hypothesis holds after excluding the endogeneity problem.To further verify the transmission channel of the influence of internet finance on college students’ willingness to innovate and start a business,this paper uses the mediation effect model to test the mechanism.The test result shows that the above-mentioned financial and non-financial transmission channels are valid.But the financial transmission channel,especially the channel of broadening financing channels,has stronger explanatory power.At the same time,this paper conducts a series of heterogeneity tests from the perspectives of the individual’s mastery of financial knowledge,the level of the individual’s school,and the individual’s cognition and tolerance of internet financial risks.Consequent conclusion shows that the college students’ willingness to innovate and start a business is unstable.Finally,based on the research conclusions,this paper proposes policy suggestions such as increasing investment in innovation and entrepreneurship education.These suggestions provide a guidance for the government and universities to optimize policy systems in a more targeted manner,so as to maximize the role of internet finance in promoting the development of innovation and entrepreneurship.positive effects.