| Mass entrepreneurship and innovation provide channels for the country to implement the innovation-driven development strategy,and help promote the replacement of old drivers of growth and industrial transformation and upgrading,which is of great significance to the steady development of the Chinese economy.Entrepreneurs are extremely important to entrepreneurial activities,the level of knowledge and personal ability of entrepreneurs will directly affect the enthusiasm and quality of entrepreneurship.As an important human capital of entrepreneurs,financial knowledge is an important part of entrepreneurs’ personal ability,which lays an important knowledge foundation for entrepreneurs to make entrepreneurial decisions,improve entrepreneurial enthusiasm and improve entrepreneurial quality.Based on the data of China Household Finance Survey in 2017,the measurement index of financial knowledge is constructed through factor analysis.According to the research idea of "financial knowledge--entrepreneurial participation in decision-making--entrepreneurial content--entrepreneurial quality",Probit model,Oprobit model,OLS model,Heckman two-stage model and endogenous transformation regression model were used to comprehensively and systematically investigate the influence of financial knowledge on entrepreneurial participation,entrepreneurial content and entrepreneurial quality through static analysis and dynamic analysis,explore the internal mechanism and spillover effects of the influence of financial knowledge on entrepreneurial participation,entrepreneurial content and entrepreneurial quality.The results show that: first of all,financial knowledge can significantly promote residents’ participation in entrepreneurship.Further analyze the mediating effect of risk attitude and financing ability on the influence of financial knowledge on entrepreneurial participation decision-making.Furthermore,the financial knowledge have a positive impact on the residents’ entrepreneurship content.Through static analysis,it is found that financial knowledge can certainly promote residents to choose the more formal business organization form and increase the scale of venture investment.At the same time,dynamic analysis shows that the financial knowledge could improve residents venture investment intensity,which not only shows residents who are entrepreneurs more positive attitude,it is also beneficial to improve the quality of residents’ entrepreneurial activities.Eventually,financial knowledge is an extremely important factor that affects the entrepreneurial quality of residents.From the static perspective,residents with higher financial knowledge have better asset scale and operating income than those with lower financial knowledge.Moreover,financial knowledge helps residents to obtain higher entrepreneurial income which to some extent shows entrepreneurial quality by improving their financing ability and information acquisition ability.Through dynamic research,it is found that financial knowledge is an significant factor that can affect the occurrence of residents’ entrepreneurial activities and improve the intensity of entrepreneurial investment,and residents’ entrepreneurial activities have a significantly positive impact on improving the per capita income of the family.which is reflected in the counterfactual hypothesis,if the actual entrepreneurial residents do not start their own businesses,their per capita household income will decrease by129.94%.In fact,the per capita income of non-self-employed residents will increase by 109.90% if they start their own businesses.This reflects that financial knowledge has a continuous and dynamic impact on residents’ entrepreneurial activities,which will ultimately help improve family economic conditions.According to the above research conclusions,suggestions to improve Chinese entrepreneurial participation rate,entrepreneurial enthusiasm and entrepreneurial quality are as follows: First of all,strengthen financial education and improve residents’ financial knowledge level.What’s more,strengthen the support of entrepreneurial capital which may improve the participation rate of entrepreneurial activities.Last but not least,entrepreneurship training is used to improve entrepreneurs’ financial and management abilities and improve the quality of entrepreneurial activities.Lastly,the entrepreneurship information release platform is used to certainly improve information asymmetry,answer questions for entrepreneurs,escort them,and improve the success rate of entrepreneurship. |
