融资渠道与城乡家庭创业决策

Financing Channels and Entrepreneurial Decision of Urban and Rural Household

基于CHARLS在2011年、2013年、2015年调研数据,分析融资渠道对城乡家庭创业决策的不同影响。研究发现:自有财富、正规融资、非正规融资对城乡家庭创业决策均具有显著影响,且自有财富、非正规融资对农户家庭创业决策的影响大于城市家庭,正规融资对城市家庭创业决策的影响大于农户家庭。无论是城市还是农户家庭,自有财富和正规融资、非正规融资均具有互补效应,正规融资和非正规融资均具有替代效应。对自有财富进一步分类回归发现,流量资产对城乡家庭创业决策的影响均大于存量资产。因此,未来应致力于提升农户家庭存量资产的积累能力、强化农户家庭创业资金投入力度、建立多渠道涉农资金供给体系、拓展非正规融资来源等措施缓解融资约束,促进农户家庭创业,缩小城乡差异。

It analysis financing channels different influences on urban and rural household entrepreneurship decision based on CHARLS survey data in 2011,2013 and 2015. The studies show that own wealth, formal finance, informal finance have significant influence on urban and rural household entrepreneurship decision, and own wealth, informal finance influence of farm household entrepreneurial decision is greater than urban household, formal finance influences of urban household entrepreneurial decision is greater than farm household. Both urban and farm household, own wealth and formal finance, informal finance have complementary effect, formal finance and informal finance have substitution effect. Further classification regression shows that flow assets influence on urban and rural household entrepreneurship decision is greater than stock assets. So, this paper puts forward countermeasures and suggestions to ease capital constraint, promote farm household entrepreneurship, narrow urban and rural difference from promoting farmer household capital accumulation capacity, strengthening farmer household entrepreneurial finance capital investment, establishing multi-channel agriculture capital supply system, expanding informal finance sources.