The Impact Of Digital Inclusive Finance On Peasant Household Entrepreneurial Behavior

At present,the important work of China’s rural development is to prevent rural people from returning to poverty,promote rural revitalization,and realize shared development for all.Governments at all levels have introduced a series of incentive policies to improve the environment for rural entrepreneurship,encourage residents to start their own businesses,and solve the problem of rural employment.However,due to the lack of collateral materials,it is difficult to obtain financial support from banks and other formal financial channels.With the help of digital technology,the development of digital inclusive finance expands the scope of financial services,improves the strength of financial inclusion,increases the financial access of farmers to a certain extent,and relieves the constraints of farmers’ start-up capital.Therefore,the development of digital financial inclusion plays an important role in supporting rural household entrepreneurship.In view of this,the role of digital inclusive finance in expanding the breadth of financial services and promoting economic development is analyzed according to existing studies,the influencing factors of rural households’ entrepreneurship are expounded,the possible influencing effects,influencing channels and influencing differences of digital inclusive finance on rural households’ entrepreneurship are clarified,and relevant theories and concepts are expounded.On this basis,it clarifies the path of digital inclusive finance affecting rural households’ entrepreneurial behavior,that is,digital inclusive finance promotes rural households’ entrepreneurship by easing credit constraints,reducing start-up costs by digital payment,improving economic environment,and enhancing rural households’ entrepreneurial intensity.After analyzing the current situation of digital inclusion finance and rural households’ entrepreneurship,this paper selects the data of China Household Finance Survey database from 2015 to 2019 and the digital inclusion finance index data released by Peking University to build a panel regression model to empirically analyze the impact of digital inclusion finance on whether or not rural households start businesses and the intensity of entrepreneurship.On this basis,further analysis is conducted to examine the effect mechanism of digital inclusion finance on rural households’ entrepreneurial behavior,the moderating effect of rural households’ risk attitude on the effect of digital inclusion finance on rural households’ entrepreneurial behavior,and the heterogeneity effect of individual human capital difference,household wealth level,regional traditional financial level and entrepreneurial type on the effect of digital inclusion finance on rural households’ entrepreneurial behavior.The research conclusions of this paper are as follows:(1)Digital inclusive finance promotes the occurrence of entrepreneurial behaviors of rural households,and helps to improve the intensity of entrepreneurship of rural households.The conclusion is still valid after the robustness test;(2)The coverage of digital inclusive finance has a significant effect on the entrepreneurial probability and entrepreneurial intensity of rural households;(3)The influence mechanism of digital inclusive finance on peasant household entrepreneurial behavior includes credit constraint,digital payment and economic environment,and individual risk attitude has a positive moderating effect;(4)Through the heterogeneity analysis of household head human capital,household wealth level,regional traditional financial development level and entrepreneurial types,it is found that digital financial inclusion has a more significant impact on the entrepreneurship of rural households with high human capital than those with low human capital.In terms of household wealth level,rural households with higher household wealth level are less affected by digital financial inclusion.In terms of regional differences,digital inclusive finance significantly increased the entrepreneurial probability of rural households in the eastern and central regions,but had no effect on whether rural households in the western regions started businesses.In terms of entrepreneurship types,compared with non-e-commerce entrepreneurship,digital inclusive finance plays a more significant role in promoting farmers’ e-commerce entrepreneurship.Based on the above conclusions,the following policy suggestions are put forward:(1)Starting from the construction of rural Internet and other hardware facilities,rural digital credit system and digital inclusive finance supervision system,to improve the infrastructure of digital inclusive finance in rural areas;(2)By promoting financial knowledge to the countryside,strengthen the financial risk prevention of rural groups and improve the financial ability of rural households;(3)Create a rural entrepreneurial environment and strengthen the integration of digital inclusive financial resources and rural household entrepreneurship.It is hoped that the above suggestions can provide some reference for the development of rural digital inclusive finance and help farmers start their own businesses.