Research On The Impact Of Digital Inclusive Finance On The Quality Of Entrepreneurship

Since the introduction of "mass entrepreneurship and innovation" in 2015,the number of entrepreneurship in China has been increasing,which has effectively promoted the development of the economy.However,due to the complex economic environment and entrepreneurial motivation,there are fewer opportunities for entrepreneurship,the overall survival rate of entrepreneurial enterprises is low,and the overall quality of entrepreneurial activities is not high.At the same time,entrepreneurship is also influenced and constrained by various aspects.With the advancement of big data,artificial intelligence,cloud computing and other high technologies,the combination of Internet technology and traditional inclusive finance has developed into digital inclusive finance,which can effectively help enterprises solve problems in terms of capital and information and provide a boost to entrepreneurial activities.The purpose of this paper is to study the impact of digital inclusive finance on entrepreneurship,however,compared with the quantity of entrepreneurship,the quality of entrepreneurship can reflect the actual situation of entrepreneurship more comprehensively and becomes the main research object of this paper.At the macro level,based on the2011-2019 urban panel data in China,this paper constructs the entrepreneurship quality index and uses the dimensions of activity,entrepreneurship scale and innovation degree as the explanatory variables,and the Peking University Digital Inclusive Finance Index as the explanatory variable to empirically study the impact of digital inclusive finance on urban entrepreneurship quality.At the micro level,the entrepreneurship quality index and digital inclusive finance index were constructed based on the China Household Finance Survey 2019 annual survey data(CHFS2019)to empirically analyze the impact of digital inclusive finance on the quality of household entrepreneurship.It is found that,firstly,digital inclusive finance can significantly improve urban entrepreneurship quality and household entrepreneurship quality,and the results remain robust after addressing issues such as endogeneity and sample selectivity.Second,the breadth of coverage and depth of use of digital inclusive finance can significantly improve urban entrepreneurship quality and household entrepreneurship quality,but the effect of digital support services on urban entrepreneurship quality is more limited.Furthermore,digital inclusive finance can boost the quality of urban entrepreneurship by increasing R&D investment,promoting business cooperation,and boosting employment on the one hand,and boost the quality of household entrepreneurship by increasing the willingness to start a business,increasing credit demand,and improving management efficiency on the other.Finally,there is a non-linear impact of digital inclusion finance on urban entrepreneurship quality,and there is heterogeneity in the impact of digital inclusion finance on both urban entrepreneurship quality and household entrepreneurship quality.The effect of digital inclusive finance is greater for cities in the eastern region than for those in the central and western regions;the effect of digital inclusive finance is greater for medium-sized cities than for larger and smaller cities.In terms of the impact on the quality of household entrepreneurship,digital inclusive finance influences active entrepreneurship to a greater extent than passive entrepreneurship;and supports enterprises with higher entrepreneurial quality more than those with lower entrepreneurial quality.Finally,this paper combines the current situation analysis and empirical results to put forward corresponding policy recommendations: first,to reasonably construct an evaluation system of entrepreneurship quality indicators to provide directions for entrepreneurship quality improvement;second,to continuously promote the comprehensive development of digital inclusive finance to provide vitality for improving entrepreneurship quality and economic development;third,to improve digital inclusive financial services and increase support for underdeveloped regions;fourth,to moderately relax the financing threshold to encourage households to take the initiative to start their own businesses;and fifth,strengthen the financial supervision system to prevent digital financial risks.