Research On The Impact Of Digital Inclusive Finance On Family Entrepreneurship In My Countr

In recent years,China has entered a critical period of economic transformation,employment situation is grim,economic growth slowed.In order to re-activate economic vitality and promote economic development,China put forward the slogan of ’ mass entrepreneurship and innovation ’in 2014.“ Mass entrepreneurship ” has become the trend of the times and gathered strong new momentum for economic and social development.As the basic unit of social economy,family is an important subject of “ mass entrepreneurship ”,and its entrepreneurial activities need support and help from all aspects,among which inclusive finance is an important aspect.Inclusive finance is also affected by the traditional “ Twenty-eight Law ” of finance,which has certain limitations.Based on digital technology,digital inclusive finance improves the availability,possibility and controllability of financial services,solves the problems and difficulties in the development of inclusive finance,promotes the sustainable development of inclusive finance,and brings new opportunities for families to choose entrepreneurship and obtain more returns.Therefore,it is of great significance to study the impact of digital inclusive finance on family entrepreneurship in China.Based on domestic and foreign research,this paper discusses the relationship between digital inclusive finance and family entrepreneurial decision-making and entrepreneurial return from both theoretical and empirical aspects.Firstly,combing the relevant literature at home and abroad,defining the concept of digital inclusive finance and entrepreneurship,and analyzing the related theories of digital inclusive finance and entrepreneurship;secondly,this paper analyzes the development status of digital inclusive finance and entrepreneurship,and tries to put forward the research hypothesis that digital inclusive finance affects family entrepreneurial decision-making and entrepreneurial return from the theoretical level.Thirdly,we use the Beijing University Digital Inclusive Finance Index and Family Panel Studies(CFPS)database to empirically analyze the impact of digital inclusive finance on family entrepreneurial decision-making and entrepreneurial return.The Probit model is used to empirically test the impact of digital inclusive finance on family entrepreneurial decision-making.After excluding families who do not choose to start a business,the fixed effect model is used to empirically test the impact of digital inclusive finance on family entrepreneurial return.The mediating effect model is used to verify the different mechanisms of the impact of digital inclusive finance on household entrepreneurial decision-making and entrepreneurial return,and the heterogeneity of entrepreneurial type and urban-rural regional heterogeneity are analyzed respectively.Finally,conclusions and policy recommendations.The results show that:(1)The development of digital inclusive finance in China is gradually mature,and in recent years it has changed from rapid growth to normal growth.The overall development of family entrepreneurship in China is getting better,but it still faces many problems such as high entrepreneurial cost,rural entrepreneurship still needs to be improved.(2)Benchmark regression analysis shows that the total index and sub-index of digital inclusive finance can promote family entrepreneurial decision-making.Mechanism analysis found that digital inclusive finance can promote household entrepreneurship decisions by easing credit constraints and increasing social capital.Heterogeneity analysis shows that digital inclusive finance has a more indigenous promoting effect on survival entrepreneurship and family entrepreneurship decision-making in urban areas,but has no obvious effect on opportunity entrepreneurship and family entrepreneurship decision-making in rural areas.(3)Benchmark regression analysis shows that the digital inclusive financial aggregate index can significantly improve family entrepreneurial returns.In its sub-index,the depth and digitization of use have a significant effect on entrepreneurial returns,while the breadth has no significant effect.Mechanism analysis found that digital inclusive finance can promote family entrepreneurship returns by improving regional innovation levels.Heterogeneity analysis shows that digital inclusive finance has a significant indigenous promoting effect on the return of family entrepreneurship of survival entrepreneurship,and has no significant indigenous effect on opportunity entrepreneurship.Compared with rural households,digital inclusive finance has a greater effect on the promotion of family entrepreneurial returns in urban areas.Therefore,based on the above conclusions,this paper attempts to make the following suggestions:(1)Improve the construction of digital inclusive financial system and strengthen policy support;(2)Speed up the construction of digital financial infrastructure in all regions,with particular emphasis on rural areas;(3)Increase the popularity of digital inclusive finance and improve the financial literacy of entrepreneurs;(4)Optimizing the entrepreneurial environment and strengthening the support for entrepreneurship.