The Study On Resource Endowment Differences And The New Generation Migrant Workers' Entrepreneurial Decision-making

Currently,as China is in the stage of the social transformation,the economic transformation needs to adjust the economic structure and innovates the way of economic growth.Under this background,innovation and start-upshave become one of the main development strategiesof the New Economic Normal.All levels of government actively for entrepreneurs to create a good innovation and entrepreneurial ecological environment,so more and more migrant workers(especially the new generation of them)begin to move toward the road of entrepreneurship and become an active group of popular entrepreneurship.Entrepreneurship is a kind of risky investment.Bcause of the inner and outer unstable environments,low survival rate is the main characteristic of new enterprises.Traditional theories such as resource theory and process theory in entrepreneurial decision-making stated that resource endowment is the key factor of the entrepreneurial behavior,which can explain the entrepreneurial decision-making process and its effect.However,compared with other groups,the new generation of migrant workers' endowment has some particularities,which may cause important effects on theentrepreneurial decision-making process of them.This paper carries out the research for entrepreneurial decision-making process and effect of the new generation of migrant workers,from the angle of their particularities of endowment,theoretically and empirically.The purposes is,on one hand,applying theories to explore entrepreneurial decision-making process and effect of the new generation of migrant workers,thus to supplement the existing entrepreneurship theory formation;The other purpose is clarifying the determinants of entrepreneurial effect of migrant workers in practice,to provide policy recommendations for the relevant functional departments to optimize entrepreneurial environment and promote the new generation of migrant workers entrepreneurship success rate.According to the central theme,this research aims to answer the following questions:(1)The specialty of resource endowment and the features of entrepreneurship of the new generation of migrant workers.(2)The effect of the resource endowment of new generation of migrant workers on their choice for whether to venture.(3)The effect of resource endowment of new generation of migrant workers who have chosen to venture on the success and failure of entrepreneurship.Under the guideline of the process theory and resource theory,this paper firstlyanalyzes the general process in developing the entrepreneurship and the characteristics of the new generation of migrant workers' endowment.Secondly,this paperconstructesthe theoretical analysis framework in order to make a detailed explanation for the relationship between resourceendowment and the new generation of migrant workers entrepreneurship theoretically.Third,based on the theoretical framework,this paper constructes the analytical model through mathematical derivation then with the questionnaire data collected from 657 entrepreneurs and 537 non-entrepreneurs of the new generation of migrant workers in Guangdong Province,throughLogistic regression and structural equation model for empirical test,this paperverifiesthe influencing mechanism of resource endowment of the new generation of migrant workers to theirentrepreneurial decision-making process and effect.Finally,according to the theoretical and empirical findings and the comparison with the older generation migration workers,this paper puts forward policy recommendations to further optimize the business environment of new generation of migrant workers,and improve their success rate of entrepreneurship.The conclusions of this study are as follows:(1)The general human resource endowment of the new generation of migrant workers are improved compared with the first generation,but still are lower than peers in cities.Their special human capital appears to be more experienced in working rather than agricultural production and skills.Their homogeneity social capital is more abundant than the peers in cities,yet their communication frequency is not high.And the heterogeneity of social capital in a certain social network has been formed in cities,but the social connection level is low;Their dominant economic capital are low income and savings,recessive economic capital appear to be difficult in loans,but the situation has beenimprovedwith the rural financial reform.(2)The new generation of migrant workers focusemostly on service industry with labor-intensive and lower technology,and characteristics of their business selection of entrepreneurial gradually show from centralizationto diversification.Entrepreneurial business form is given priority to family business,investment scale is given priority to small scale,entrepreneurial financing source is given priority to its own funds;(3)The resource endowment plays an important role on the migrant workers entrepreneurship decision-making process,which improves their entrepreneurial behavior effectively.The average marginal effect of the probability of entrepreneurial behavior decision-makingprocess showsstrongest in social capital,followed by human resource capital and economic capital.(4)The resource endowment has asignificantly influence on the migrant workers' entrepreneurship decision-making process.Firstly,social capital and economic capital show remarkable and positive effect on entrepreneurial decision-making process;Secondly,the effect of human capital on entrepreneurial decision shows no significantly positive influence,indicatingthat human capital is not the key factor influencing the migrant workers' entrepreneurship effect.