创业决策及其回报——基于中国家庭追踪调查的经验证据

Entrepreneurial Decision-Making andIts Returns—Based on Experimental Evidence from China Family Panel Studies (CFPS)

创新创业是推动国家经济发展的不竭动力,是缓解中国严峻就业形势的重要途径,对于经济正处于转型升级中的中国至关重要。研究创业行为对其效用的影响是理解个体创业选择行为动机的关键,对如何激发高质量的创业活动是十分必要的。本文运用2018年中国家庭追踪调查(CFPS)的相关数据,对创业决策与创业回报之间的关系进行实证分析。研究发现:第一,关于创业决策对创业回报的影响,创业决策能够提升工作收入、工作满意度,但会降低生活满意度,与健康程度无显著相关性;第二,创业决策对创业回报的影响在不同性别、年龄、受教育程度和婚姻状况的人群中存在异质性;第三,经过内生性处理和稳健性检验后上述结果仍然成立。

Innovation and entrepreneurship is an inexhaustible driving force to promote national economic development, an important way to alleviate the severe employment situation in China, and is crucial for China, whose economy is undergoing transformation and upgrading. Studying the impact of entrepreneurial behavior on its utility is the key to understanding the motivation of individual entrepreneurial choice behavior, and is very necessary for how to stimulate high-quality entrepre-neurial activities. This paper makes an empirical analysis of the relationship between entrepreneurial decision-making and entrepreneurial returns using the relevant data from the 2018 China Family Tracking Survey (CFPS). The research found that: First, regarding the impact of entrepreneurial decision-making on entrepreneurial returns, entrepreneurial decision-making can improve work income and job satisfaction, but it will reduce life satisfaction, and has no significant correlation with health. Secondly, the impact of entrepreneurial decision-making on entrepreneurial returns is heterogeneous among people of different gender, age, education level and marital status. Thirdly, the above results are still valid after endogenous treatment and robustness test.