Research On The Impact Of Digital Inclusive Finance On Family Entrepreneurship

In recent years,the strategy of "mass entrepreneurship and innovation" has been deeply rooted in the hearts of the people.It has not only promoted economic growth,but also become an important measure to expand resident employment and maintain social stability.Relevant studies have shown that capital constraint is the primary factor affecting entrepreneurship,but the problem of financial exclusion under the traditional financial system is serious,which can not effectively solve the problem of capital constraint faced by entrepreneurial families.Digital Inclusive Finance has innovated to address this pain point,emphasizing that residents,rich or poor,have the opportunity to enjoy financial services.Therefore,in the context of the rapid popularization of digital Inclusive Finance,finance may play a more significant role in promoting entrepreneurship.In view of this,this paper takes digital Inclusive Finance as the starting point to analyze the impact and mechanism of digital Inclusive Finance on family entrepreneurship.Firstly,it summarizes the relevant theories and finds that digital Inclusive Finance acts on family entrepreneurship through the direct mechanism of improving financial availability,reducing financing costs and improving financing efficiency,as well as the indirect mechanism of strengthening social trust.Secondly,in the empirical part,this paper selects the data of China Household tracking questionnaire(CFPS)in 2016 and 2018,and matches the digital inclusive financial development index of Peking University to build the probit model.Considering the urban-rural dual structure and the new financial exclusion brought by digital Inclusive Finance,this paper examines the urban-rural heterogeneity,human capital heterogeneity and age heterogeneity.At the same time,due to the outstanding balance between financial efficiency and financial security under the digital inclusive financial system,the government has strengthened the intensity of financial supervision.Based on this background,this paper further discusses the external regulation effect of financial supervision.The conclusions are as follows: first,digital Inclusive Finance has a significant role in promoting family entrepreneurship;Second,from the perspective of specific samples,the entrepreneurial effect of digital inclusive finance mainly affects rural families,families with higher education level and families with relatively lower age of head of household;Third,digital inclusive finance increases the possibility of family entrepreneurship by enhancing social trust;Fourth,further research shows that under the strong level of financial supervision,digital Inclusive Finance has played a stronger role in promoting entrepreneurship.In view of the above conclusions,this paper puts forward relevant policy recommendations from four aspects: building a sound regulatory system,accelerating the process of digital Inclusive Finance,cultivating residents’ financial literacy,and establishing a special policy system for rural entrepreneurship.