风险态度、借贷参与和创业活动研究——基于2015年中国家庭金融调查的实证分析

Risk Appetite,Lending Participation and Entrepreneurial Behavior:Evidence from CHFS2015 Data

创业是经济发展的重要动力,在"大众创业,万众创新"的背景下,明确创业的微观影响机制对推动我国创业活动具有重要意义。基于中国家庭金融调查2015年数据,本文考察了行动者的风险态度、借贷参与和创业活动之间的关系。研究发现:(1)在考虑借贷参与的条件下,个体风险态度对其创业活动有着积极影响,并在城镇地区具有显著作用。(2)是否获得借贷、借贷渠道与借贷用途对创业活动也有显著影响:生产经营用途的借贷,无论来自正规渠道还是非正规渠道,均显著正向影响个体创业活动;个体获得非正规渠道的消费用途借贷则与其创业活动显著负相关。通过分析风险态度、借贷参与和个体创业活动的关系,本文为理解个体创业活动提供了经验证据,进一步从风险态度和借贷参与的角度探讨了激励个体创业的可行措施。

Entrepreneurship is an important force for economic development.In the context of“mass innovation and entrepreneurship”,it is of great significance to clarify the micro-influence mechanism of entrepreneurship to promote entrepreneurship.Based on the 2015 data of China household finance survey,this paper analyses the relationship between risk appetite,lending participa-tion,and entrepreneurial behavior.The findings are as follows:(1)risk attitude has a significant influence on individual entrepreneurial behavior,but it only plays a role in urban areas.(2)Accessing to loans,lending sources and lending purposes are significant to entrepreneurship:loans for production and operation purposes,no matter from what sources,can significantly increase the possibility of individuals to participate in entrepreneurship,while informal loans for consumption purposes can significantly reduce participation in entrepreneurship.This paper provides empirical support for explaining individual entrepreneurial behaviors,and it also discusses feasible measures to improve individual entrepreneurial participation from the perspective of risk and borrowing.